In addition, the indirect effects of the commodity price surge could be amplified substantially if longer-run inflation expectations started drifting upward or if nominal wages began rising sharply as workers pressed employers to offset realized or prospective declines in their purchasing power.
I hope that such a shift in human capital will fuel progress in placing the right people in the right jobs across Japan and bring about productivity improvements and the revitalization of regional economies, leading to sustainable wage increases and a virtuous cycle from income to spending.