Regarding an analysis on the impact to the Japanese economy of aging, see Muto, Ichiro, Takemasa Oda, and Nao Sudo, “Macroeconomic Impact of Population Aging in Japan: A Perspective from an Overlapping Generations Model,” Bank of Japan Working Paper Series, No.12-E-9, 2012. BIS central bankers’ speeches  5  large current account surplus.
I wish each of you success as you navigate your own way through 2012. BIS central bankers’ speeches  7