{"id":209,"date":"2025-08-07T08:07:26","date_gmt":"2025-08-07T08:07:26","guid":{"rendered":"https:\/\/yui-macrostock.com\/?p=209"},"modified":"2025-08-07T08:14:07","modified_gmt":"2025-08-07T08:14:07","slug":"defure-nipponkabuka-teimei","status":"publish","type":"post","link":"https:\/\/yui-macrostock.com\/?p=209","title":{"rendered":"\u30c7\u30d5\u30ec\u306e\u7f60\u3068\u65e5\u672c\u682a\u306e\u6210\u9577\u4f4e\u8ff7\u306e\u7406\u7531"},"content":{"rendered":"\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<style>\n.note-toc {\n  background: #f0faff;\n  border-left: 5px solid #66c2ff;\n  padding: 16px;\n  font-family: \"Yu Gothic\", sans-serif;\n  margin: 20px 0;\n  font-size: 16px;\n  line-height: 1.6;\n}\n.note-toc a {\n  text-decoration: none;\n  color: #004d66;\n}\n.note-toc a:hover {\n  text-decoration: underline;\n}\n<\/style>\n\n<div class=\"note-toc\">\n  <ul>\n    <li><a href=\"#intro\">\u306f\u3058\u3081\u306b\uff1a\u306a\u305c\u65e5\u672c\u306f\u9577\u304f\u30c7\u30d5\u30ec\u3060\u3063\u305f\u306e\u304b\uff1f<\/a><\/li>\n    <li><a href=\"#deflation-trap\">\u30c7\u30d5\u30ec\u306e\u7f60\u3068\u306f\u4f55\u304b\uff1f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u89e3\u8aac<\/a><\/li>\n    <li><a href=\"#reasons\">\u65e5\u672c\u304c\u30c7\u30d5\u30ec\u304b\u3089\u629c\u3051\u51fa\u305b\u306a\u304b\u3063\u305f\u4e3b\u306a\u7406\u7531<\/a><\/li>\n    <li><a href=\"#stock-impact\">\u65e5\u672c\u682a\u3078\u306e\u5f71\u97ff\uff1a\u682a\u4fa1\u505c\u6ede\u306e30\u5e74<\/a><\/li>\n    <li><a href=\"#comparison\">\u4ed6\u56fd\u3068\u306e\u6bd4\u8f03\uff1a\u7c73\u56fd\u3068\u306e\u6210\u9577\u683c\u5dee<\/a><\/li>\n    <li><a href=\"#policy-lessons\">\u4eca\u5f8c\u306e\u653f\u7b56\u3068\u6295\u8cc7\u5bb6\u3078\u306e\u793a\u5506<\/a><\/li>\n    <li><a href=\"#summary\">\u307e\u3068\u3081\uff1a\u8131\u30c7\u30d5\u30ec\u3078\u306e\u9375\u3068\u6295\u8cc7\u6226\u7565<\/a><\/li>\n  <\/ul>\n<\/div>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h2 id=\"intro\"><\/h2>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-background\" style=\"background-color:#14c3fa85;font-size:clamp(15.197px, 0.95rem + ((1vw - 3.2px) * 0.765), 23px);\">\u306f\u3058\u3081\u306b\uff1a\u306a\u305c\u65e5\u672c\u306f\u9577\u304f\u30c7\u30d5\u30ec\u3060\u3063\u305f\u306e\u304b\uff1f<\/h2>\n\n\n\n<p>   \u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u65e5\u672c\u306f1990\u5e74\u4ee3\u306e\u30d0\u30d6\u30eb\u5d29\u58ca\u4ee5\u964d\u3001\u9577\u671f\u306b\u308f\u305f\u3063\u3066\u30c7\u30d5\u30ec\uff08\u7269\u4fa1\u306e\u6301\u7d9a\u7684\u306a\u4e0b\u843d\uff09\u306b\u82e6\u3057\u3093\u3067\u304d\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u6b27\u7c73\u8af8\u56fd\u304c\u30a4\u30f3\u30d5\u30ec\u3068\u7d4c\u6e08\u6210\u9577\u3092\u80cc\u666f\u306b\u682a\u4fa1\u3092\u4e0a\u6607\u3055\u305b\u308b\u4e00\u65b9\u3001\u65e5\u672c\u682a\u306f\u300c\u5931\u308f\u308c\u305f30\u5e74\u300d\u3068\u547c\u3070\u308c\u308b\u505c\u6ede\u671f\u3092\u7d4c\u9a13\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001<strong>\u30c7\u30d5\u30ec\u306e\u7f60\u3068\u306f\u4f55\u304b<\/strong>\u3001\u65e5\u672c\u304c\u306a\u305c\u305d\u3053\u304b\u3089\u629c\u3051\u51fa\u305b\u306a\u304b\u3063\u305f\u306e\u304b\u3001\u305d\u3057\u3066\u305d\u308c\u304c<strong>\u65e5\u672c\u682a\u306b\u3069\u306e\u3088\u3046\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u305f\u306e\u304b<\/strong>\u3092\u3001\u30c7\u30fc\u30bf\u3068\u7406\u8ad6\u3092\u4ea4\u3048\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 id=\"deflation-trap\"><\/h2>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-background\" style=\"background-color:#14c3fa85;font-size:clamp(15.197px, 0.95rem + ((1vw - 3.2px) * 0.765), 23px);\">\u30c7\u30d5\u30ec\u306e\u7f60\u3068\u306f\u4f55\u304b\uff1f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u89e3\u8aac<\/h2>\n\n\n\n<p>    \u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u30c7\u30d5\u30ec\u3068\u306f\uff1f<\/h3>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u30c7\u30d5\u30ec\u3068\u306f\u3001\u7269\u4fa1\u5168\u4f53\u304c\u7d99\u7d9a\u7684\u306b\u4e0b\u304c\u308b\u73fe\u8c61\u3067\u3059\u3002\u6d88\u8cbb\u8005\u306b\u3068\u3063\u3066\u306f\u300c\u5b89\u304f\u8cb7\u3048\u308b\u300d\u30e1\u30ea\u30c3\u30c8\u3082\u3042\u308a\u307e\u3059\u304c\u3001\u7d4c\u6e08\u5168\u4f53\u3067\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306a<strong>\u8ca0\u306e\u9023\u9396<\/strong>\u304c\u767a\u751f\u3057\u307e\u3059\u3002   <\/p>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u56f3\uff1a\u30c7\u30d5\u30ec\u30b9\u30d1\u30a4\u30e9\u30eb\u306e\u69cb\u9020<\/h3>\n\n\n\n<style>\n.deflation-flow {\n  background-color: #e6f4f9;\n  border-left: 4px solid #66c2ff;\n  padding: 12px;\n  border-radius: 6px;\n  font-size: 13px;\n  text-align: center;\n  line-height: 1.8;\n  margin: 20px 0;\n  font-family: \"Yu Gothic\", sans-serif;\n}\n<\/style>\n\n<div class=\"deflation-flow\">\n\u7269\u4fa1\u304c\u4e0b\u304c\u308b<br>\n\u3000\u2193<br>\n\u4f01\u696d\u306e\u58f2\u4e0a\u30fb\u5229\u76ca\u304c\u6e1b\u5c11<br>\n\u3000\u2193<br>\n\u8cc3\u91d1\u304c\u6291\u5236\u3055\u308c\u308b<br>\n\u3000\u2193<br>\n\u6d88\u8cbb\u304c\u51b7\u3048\u8fbc\u3080<br>\n\u3000\u2193<br>\n\u3055\u3089\u306b\u7269\u4fa1\u304c\u4e0b\u304c\u308b\n<\/div>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u30c7\u30d5\u30ec\u4e0b\u3067\u306f\u4f01\u696d\u304c\u4fa1\u683c\u3092\u4e0a\u3052\u306b\u304f\u304f\u306a\u308a\u3001\u53ce\u76ca\u529b\u304c\u4f4e\u4e0b\u3057\u307e\u3059\u3002\u305d\u306e\u7d50\u679c\u3001\u8cc3\u91d1\u304c\u4f38\u3073\u305a\u3001\u6d88\u8cbb\u3082\u62e1\u5927\u3057\u307e\u305b\u3093\u3002\u3053\u306e\u60aa\u5faa\u74b0\u304c\u9577\u671f\u9593\u306b\u308f\u305f\u308a\u65e5\u672c\u7d4c\u6e08\u3092\u505c\u6ede\u3055\u305b\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 id=\"reasons\"><\/h2>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-background\" style=\"background-color:#14c3fa85;font-size:clamp(15.197px, 0.95rem + ((1vw - 3.2px) * 0.765), 23px);\">\u65e5\u672c\u304c\u30c7\u30d5\u30ec\u304b\u3089\u629c\u3051\u51fa\u305b\u306a\u304b\u3063\u305f\u4e3b\u306a\u7406\u7531<\/h2>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-accent-5-background-color has-background\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\"> 1. \u30d0\u30d6\u30eb\u5d29\u58ca\u5f8c\u306e\u4e0d\u826f\u50b5\u6a29\u554f\u984c<\/h3>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">1990\u5e74\u4ee3\u521d\u982d\u306e\u8cc7\u7523\u30d0\u30d6\u30eb\u5d29\u58ca\u5f8c\u3001\u65e5\u672c\u306e\u9280\u884c\u306f\u591a\u984d\u306e\u4e0d\u826f\u50b5\u6a29\u3092\u62b1\u3048\u3001\u8cb8\u3057\u6e0b\u308a\u30fb\u8cb8\u3057\u5265\u304c\u3057\u304c\u6a2a\u884c\u3002<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u4f01\u696d\u306f\u6295\u8cc7\u3092\u63a7\u3048\u308b\u3088\u3046\u306b\u306a\u308a\u3001\u7d4c\u6e08\u306f\u7e2e\u5c0f\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-accent-5-background-color has-background\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">2. \u614e\u91cd\u3059\u304e\u305f\u8ca1\u653f\u30fb\u91d1\u878d\u653f\u7b56<\/h3>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u65e5\u672c\u9280\u884c\u306e\u5bfe\u5fdc\u306f\u9045\u308c\u6c17\u5473\u3067\u3001\u30bc\u30ed\u91d1\u5229\u653f\u7b56\u30fb\u91cf\u7684\u7de9\u548c\u304c\u6b27\u7c73\u3088\u308a\u3082\u6d88\u6975\u7684\u3067\u3057\u305f\u3002<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u8ca1\u653f\u652f\u51fa\u3082\u77ed\u671f\u7684\u306a\u666f\u6c17\u523a\u6fc0\u7b56\u304c\u591a\u304f\u3001\u9577\u671f\u7684\u6210\u9577\u306b\u306f\u7d50\u3073\u3064\u304d\u306b\u304f\u304b\u3063\u305f\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-accent-5-background-color has-background\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">3. \u5c11\u5b50\u9ad8\u9f62\u5316\u3068\u4eba\u53e3\u6e1b\u5c11<\/h3>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u5185\u9700\u304c\u7e2e\u5c0f\u3059\u308b\u69cb\u9020\u7684\u306a\u80cc\u666f\u304c\u3001\u30c7\u30d5\u30ec\u3092\u6839\u5f37\u304f\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u9ad8\u9f62\u8005\u306f\u6d88\u8cbb\u3088\u308a\u8caf\u84c4\u3092\u91cd\u8996\u3059\u308b\u50be\u5411\u304c\u3042\u308a\u3001\u82e5\u5e74\u5c64\u3082\u5c06\u6765\u4e0d\u5b89\u304b\u3089\u652f\u51fa\u3092\u63a7\u3048\u304c\u3061\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-accent-5-background-color has-background\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">4. \u300c\u30c7\u30d5\u30ec\u30de\u30a4\u30f3\u30c9\u300d\u306e\u5b9a\u7740<\/h3>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u6d88\u8cbb\u8005\u3084\u4f01\u696d\u306b\u300c\u4eca\u8cb7\u3046\u3088\u308a\u5f85\u3063\u305f\u65b9\u304c\u5b89\u304f\u306a\u308b\u300d\u3068\u3044\u3046\u5fc3\u7406\u304c\u6839\u3065\u3044\u3066\u3057\u307e\u3044\u3001\u7d50\u679c\u3068\u3057\u3066<strong>\u6d88\u8cbb\u3084\u6295\u8cc7\u306e\u5148\u9001\u308a<\/strong>\u304c\u52a0\u901f\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u3053\u308c\u306f\u4e2d\u592e\u9280\u884c\u306b\u3088\u308b\u30de\u30cd\u30fc\u4f9b\u7d66\u3067\u306f\u7c21\u5358\u306b\u6253\u7834\u3067\u304d\u306a\u3044\u3001<strong>\u671f\u5f85\u306e\u554f\u984c<\/strong>\u3067\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 id=\"stock-impact\"><\/h2>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-background\" style=\"background-color:#14c3fa85;font-size:clamp(15.197px, 0.95rem + ((1vw - 3.2px) * 0.765), 23px);\">\u65e5\u672c\u682a\u3078\u306e\u5f71\u97ff\uff1a\u682a\u4fa1\u505c\u6ede\u306e30\u5e74<\/h2>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u65e5\u672c\u682a\u306f1989\u5e74\u306e<strong>\u65e5\u7d4c\u5e73\u5747\u682a\u4fa138,915\u5186<\/strong>\u3092\u30d4\u30fc\u30af\u306b\u3001\u9577\u3089\u304f\u4f4e\u8ff7\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u4f01\u696d\u306e\u5229\u76ca\u304c\u4f38\u3073\u60a9\u307f\u3001\u5c06\u6765\u306e\u6210\u9577\u671f\u5f85\u3082\u8584\u308c\u305f\u7d50\u679c\u3001\u682a\u5f0f\u5e02\u5834\u306b\u5bfe\u3059\u308b\u56fd\u5185\u5916\u306e\u4fe1\u8a8d\u304c\u63fa\u3089\u304e\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u8868\uff1a\u65e5\u7d4c\u5e73\u5747\u3068\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u63a8\u79fb\uff081990\u301c2020\uff09<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\"><table class=\"has-fixed-layout\"><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">\u5e74\u4ee3<\/th><th class=\"has-text-align-center\" data-align=\"center\">\u65e5\u7d4c\u5e73\u5747\uff08\u5e74\u672b\uff09<\/th><th class=\"has-text-align-center\" data-align=\"center\">\u30a4\u30f3\u30d5\u30ec\u7387\uff08\u5e74\u5e73\u5747\uff09<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">1990\u5e74<\/td><td class=\"has-text-align-center\" data-align=\"center\">23,848\u5186<\/td><td class=\"has-text-align-center\" data-align=\"center\">3.1%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2000\u5e74<\/td><td class=\"has-text-align-center\" data-align=\"center\">13,785\u5186<\/td><td class=\"has-text-align-center\" data-align=\"center\">-0.7%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2010\u5e74<\/td><td class=\"has-text-align-center\" data-align=\"center\">10,228\u5186<\/td><td class=\"has-text-align-center\" data-align=\"center\">-0.7%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2020\u5e74<\/td><td class=\"has-text-align-center\" data-align=\"center\">27,444\u5186<\/td><td class=\"has-text-align-center\" data-align=\"center\">0.0%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h2 id=\"comparison\"><\/h2>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-background\" style=\"background-color:#14c3fa85;font-size:clamp(15.197px, 0.95rem + ((1vw - 3.2px) * 0.765), 23px);\">\u4ed6\u56fd\u3068\u306e\u6bd4\u8f03\uff1a\u7c73\u56fd\u3068\u306e\u6210\u9577\u683c\u5dee<\/h2>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u30a2\u30e1\u30ea\u30ab\u306f1990\u5e74\u4ee3\u4ee5\u964d\u3001IT\u30fb\u91d1\u878d\u30fb\u30b5\u30fc\u30d3\u30b9\u306a\u3069\u3092\u727d\u5f15\u5f79\u306b<strong>\u6301\u7d9a\u7684\u306a\u6210\u9577\u3092\u5b9f\u73fe<\/strong>\u3057\u307e\u3057\u305f\u3002\u4e2d\u592e\u9280\u884c\uff08FRB\uff09\u306f\u65e9\u671f\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u30bf\u30fc\u30b2\u30c3\u30c8\u653f\u7b56\u3092\u5c0e\u5165\u3057\u3001\u7269\u4fa1\u5b89\u5b9a\u3068\u6210\u9577\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u4fdd\u3061\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">S&amp;P500 vs \u65e5\u7d4c\u5e73\u5747\u306e\u63a8\u79fb\uff081990\u301c2020\u3001\u6307\u6570\u5316\uff09<\/h3>\n\n\n\n<!DOCTYPE html>\n<html lang=\"ja\">\n<head>\n<meta charset=\"UTF-8\" \/>\n<title>S&#038;P500 vs \u65e5\u7d4c\u5e73\u5747 \u6307\u6570\u5316\u30b0\u30e9\u30d5<\/title>\n<style>\n  .container {\n    width: 300px;\n    font-family: 'Yu Gothic', sans-serif;\n    margin: 20px auto;\n  }\n  .bar-wrapper {\n    margin-bottom: 20px;\n  }\n  .label {\n    margin-bottom: 6px;\n    font-weight: 600;\n    font-size: 14px;\n  }\n  .bar {\n    height: 24px;\n    border-radius: 12px;\n    background-color: #ddd;\n    position: relative;\n  }\n  .bar-inner {\n    height: 100%;\n    border-radius: 12px;\n    text-align: right;\n    color: #fff;\n    font-weight: 700;\n    padding-right: 8px;\n    line-height: 24px;\n  }\n  .sp500 {\n    background-color: #007bff;\n    width: 100%; \/* 700\/700 = 100% *\/\n  }\n  .nikkei {\n    background-color: #e63946;\n    width: 11.4%; \/* 80\/700 \u2252 0.114 *\/\n  }\n  .value {\n    position: absolute;\n    right: 10px;\n    top: 0;\n    height: 24px;\n    line-height: 24px;\n    color: #fff;\n    font-weight: 700;\n    user-select: none;\n  }\n<\/style>\n<\/head>\n<body>\n<div class=\"container\">\n  <div class=\"bar-wrapper\">\n    <div class=\"label\">S&#038;P500 (1990=100 \u2192 \u7d04700)<\/div>\n    <div class=\"bar\">\n      <div class=\"bar-inner sp500\">\n        <span class=\"value\">700<\/span>\n      <\/div>\n    <\/div>\n  <\/div>\n  <div class=\"bar-wrapper\">\n    <div class=\"label\">\u65e5\u7d4c\u5e73\u5747 (1990=100 \u2192 \u7d0480)<\/div>\n    <div class=\"bar\">\n      <div class=\"bar-inner nikkei\">\n        <span class=\"value\">80<\/span>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n<\/body>\n<\/html>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u4f01\u696d\u306e\u7af6\u4e89\u529b\u3084\u653f\u7b56\u5224\u65ad\u306e\u30b9\u30d4\u30fc\u30c9\u304c\u3001\u65e5\u672c\u3068\u306e\u9055\u3044\u3092\u751f\u307f\u51fa\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 id=\"policy-lessons\"><\/h2>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-background\" style=\"background-color:#14c3fa85;font-size:clamp(15.197px, 0.95rem + ((1vw - 3.2px) * 0.765), 23px);\">\u4eca\u5f8c\u306e\u653f\u7b56\u3068\u6295\u8cc7\u5bb6\u3078\u306e\u793a\u5506<\/h2>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">2023\u5e74\u4ee5\u964d\u3001\u65e5\u672c\u9280\u884c\u306f\u30a4\u30f3\u30d5\u30ec\u5146\u5019\u3092\u53d7\u3051\u3001\u30de\u30a4\u30ca\u30b9\u91d1\u5229\u89e3\u9664\u3084\u91d1\u878d\u6b63\u5e38\u5316\u306b\u7740\u624b\u3057\u307e\u3057\u305f\u3002\u4eca\u5f8c\u306e\u7126\u70b9\u306f\u3001\u300c\u6301\u7d9a\u7684\u306a\u7269\u4fa1\u4e0a\u6607\u300d\u3068\u300c\u8cc3\u91d1\u306e\u5b89\u5b9a\u7684\u4e0a\u6607\u300d\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u6295\u8cc7\u5bb6\u304c\u6ce8\u76ee\u3059\u3079\u304d\u30dd\u30a4\u30f3\u30c8<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u4eba\u624b\u4e0d\u8db3\u30fb\u8cc3\u4e0a\u3052\u30c8\u30ec\u30f3\u30c9\u306e\u6301\u7d9a\u6027<\/li>\n\n\n\n<li style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u6d77\u5916\u9700\u8981\u306b\u652f\u3048\u3089\u308c\u308b\u8f38\u51fa\u7523\u696d\u306e\u56de\u5fa9<\/li>\n\n\n\n<li style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u30b0\u30ea\u30fc\u30f3\u6295\u8cc7\u30fbAI\u5316\u306b\u3088\u308b\u65b0\u7523\u696d\u306e\u6210\u9577\u671f\u5f85<\/li>\n<\/ul>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 id=\"summary\"><\/h2>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-background\" style=\"background-color:#14c3fa85;font-size:clamp(15.197px, 0.95rem + ((1vw - 3.2px) * 0.765), 23px);\">\u307e\u3068\u3081\uff1a\u8131\u30c7\u30d5\u30ec\u3078\u306e\u9375\u3068\u6295\u8cc7\u6226\u7565<\/h2>\n\n\n\n<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u9577\u5e74\u65e5\u672c\u3092\u82e6\u3057\u3081\u3066\u304d\u305f\u30c7\u30d5\u30ec\u306f\u3001\u5358\u306a\u308b\u7269\u4fa1\u306e\u4e0b\u843d\u3067\u306f\u306a\u304f\u3001\u69cb\u9020\u7684\u306a\u7d4c\u6e08\u554f\u984c\u3067\u3057\u305f\u3002<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u3053\u308c\u3092\u4e57\u308a\u8d8a\u3048\u308b\u306b\u306f\u3001\u91d1\u878d\u30fb\u8ca1\u653f\u653f\u7b56\u306b\u52a0\u3048\u3001<strong>\u6d88\u8cbb\u30de\u30a4\u30f3\u30c9\u306e\u8ee2\u63db\u3084\u751f\u7523\u6027\u5411\u4e0a\u304c\u4e0d\u53ef\u6b20<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\">\u6295\u8cc7\u6226\u7565\u306e\u30d2\u30f3\u30c8<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\"><strong>\u30d0\u30ea\u30e5\u30fc\u682a\u30fb\u9ad8\u914d\u5f53\u682a<\/strong>\uff1a\u30c7\u30d5\u30ec\u4e0b\u3067\u3082\u53ce\u76ca\u3092\u78ba\u4fdd\u3057\u3084\u3059\u3044<\/li>\n\n\n\n<li style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\"><strong>\u30b0\u30ed\u30fc\u30b9\u682a<\/strong>\uff1a\u8131\u30c7\u30d5\u30ec\u306e\u6069\u6075\u3092\u53d7\u3051\u3084\u3059\u3044\u304c\u91d1\u5229\u306b\u306f\u6ce8\u610f<\/li>\n\n\n\n<li style=\"font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.196), 16px);\"><strong>\u5206\u6563\u6295\u8cc7<\/strong>\uff1a\u30ea\u30b9\u30af\u30d8\u30c3\u30b8\u3068\u3057\u3066\u6709\u52b9\u3001\u9577\u671f\u76ee\u7dda\u3092\u5fd8\u308c\u305a\u306b<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u3000\u3000\u3000\u3000\u3000\u3000\u3000 \u306f\u3058\u3081\u306b\uff1a\u306a\u305c\u65e5\u672c\u306f\u9577\u304f\u30c7\u30d5\u30ec\u3060\u3063\u305f\u306e\u304b\uff1f \u30c7\u30d5\u30ec\u306e\u7f60\u3068\u306f\u4f55\u304b\uff1f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u89e3\u8aac \u65e5\u672c\u304c\u30c7\u30d5\u30ec\u304b\u3089\u629c\u3051\u51fa\u305b\u306a\u304b\u3063\u305f\u4e3b\u306a\u7406\u7531 \u65e5\u672c\u682a\u3078\u306e\u5f71\u97ff\uff1a\u682a\u4fa1\u505c\u6ede\u306e30\u5e74 \u4ed6\u56fd\u3068\u306e\u6bd4\u8f03\uff1a\u7c73\u56fd\u3068\u306e\u6210\u9577\u683c\u5dee \u4eca\u5f8c\u306e\u653f\u7b56\u3068\u6295 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"saved_in_kubio":false,"footnotes":""},"categories":[17,29],"tags":[],"class_list":["post-209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defure-nipponkabuka-teimei","category-29"],"_links":{"self":[{"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=\/wp\/v2\/posts\/209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=209"}],"version-history":[{"count":3,"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=\/wp\/v2\/posts\/209\/revisions"}],"predecessor-version":[{"id":212,"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=\/wp\/v2\/posts\/209\/revisions\/212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=\/wp\/v2\/media\/213"}],"wp:attachment":[{"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yui-macrostock.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}