See Orphanides, A., "The Boundaries of Central Bank Independence: Lessons from Unconventional Times," Monetary and Economic Studies 36 (November 2018): pp. 35-55. 9  13  COVID-19 and supply-side constraints. When considering the future development of the prefecture, the major challenge is how to deal with a declining population, as with other regions.
Since its peak of 3.80 million people in fiscal 2007, the population of Shizuoka Prefecture has continued to decline at a faster pace than the nationwide average. Nevertheless, as I mentioned, the negative impact of a declining population is overestimated.