The latest data in the right-hand chart are as at fiscal 2015. Source: Teikoku Databank.
The key for policymakers, of course, is to recognize these uncertainties that, if misunderstood or miscalculated, could lead to policy errors. Munger, the proud noneconomist, recounts another lesson born of his investment career that I find particularly heartening in considering the calculation of the neutral rate: Avoid the error of false precision.