“Japan’s demographics don’t mean the country is doomed to deflation”

According to Akinari Horii, the former assistant governor of the Bank of Japan, Japan’s demographics don’t mean the country is doomed to deflation

He says Bank of Japan (BOJ) Governor Kuroda believes this too and it encourages the bank’s pursuit of changing the deflationary ‘mindset’

• “The old regime seems to have attributed everything bad–or deflation in particular–to demography,” said Mr. Horii in an interview. “Economic growth is not so much of a function of demography, but a function of technological innovation and efficient resource reallocation.”

More at an ungated Wall Street Journal article, here: Demographics Needn’t Mean Deflation, Argues Former BOJ Official