Appended Note 1-4 Method of Estimation of Deflationary Expectations

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This section estimates people's deflationary expectations by applying the Carlson-Parkin method on the basis of the data of Consumer Confidence Survey, Cabinet Office. The Carlson-Parkin method is a method that can determine the average expectation level for the population of the respondents based on a questionnaire about people's expectations concerning economic variables such as the inflation rate, etc. Note that the method described below is somewhat modified.

<Overview of Carlson-Parkin method>

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