日本的通货紧缩从20世纪90年代中后期一直持续到2006年，2009年再次出现，成为日本经济很难治愈的痼疾。通货紧缩存在非常复杂的发生机制，它与总需求减少之间相互反馈所形成的自我加强机制，会使经济衰退和通货紧缩愈发严重。对此，日本政府采取了各种政策，包括量化宽松政策、加速处理不良债权等。近两年来，面对国际金融危机的影响，日本政府更采取了一系列的经济刺激政策。
The deflation in Japan first occurred in mid-and late-1990s and lasted until 2006.It stoke again in the year of 2009 and has become a chronic illness of Japanese economy.The occurrence of deflation requires a very complicated mechanism.A retroaction between the deflation and the decrease of the aggregate demand helps to develop a self-enforcement mechanism，which deteriorates economic recession and deflation.To deal with this problem，the Japanese government has adopted various policies，including quantitative easing and speedy handling of bad credits，etc.In the past two years，a series of economic stimulus policies have been carried out to cope with the impact of international financial crisis.
