3  In my speech today, I focus on Japan’s experience after the burst of a bubble. See also Okina, Shirakawa, and Shiratsuka (2001) for discussions on the cause of the bubble since the late 1980s and its lessons for monetary policy. 4  With regard to the appropriateness of the phrase, “lost decade,” see Shirakawa (2009).
Regarding credit unions, the Central Bank is considering comments received from the industry on the draft Credit Union Bill and is finalizing a response to the industry. This legislation is expected to be taken to Parliament by the middle of 2013.