Earlier fiscal packages are finally filtering through the economy and basically stopping the rapid deterioration.
It tried to break deflationary stagnation in the 1990s with several fiscal packages.
It is quite difficult to keep rolling out these huge fiscal packages.
"What the numbers tell us is that fiscal packages do have an impact, " says Kuribayashi Hiroshi, an economist with Barclays Capital in Tokyo.
Now the bond market is quite sensitive to the very large government deficits - and more fiscal packages would only make matters worse.
The fiscal packages have proved rather less popular than monetary easing.
Earlier in the 1990s Japan was able to use fiscal packages to reflate its economy because bond markets were pretty strong and bond yields kept falling.
Nonetheless, in sectors like manufacturing there has been ongoing restructuring because of the yen and because manufacturers, which have not been mollycoddled by years of fiscal packages, have had to take a proper line on costs.
In 2009, many used fiscal stimulus packages to keep their economies on the rails.
All the main rich economies and most big emerging ones have announced fiscal stimulus packages.
Another positive sign is the emphasis on infrastructure spending in many of the national fiscal stimulus packages.
This is the idea that lies behind most post-war demand management as well as today's fiscal stimulus packages.
Fiscal stimulus packages that seemed sufficient two months ago may be too small, and too slow to take effect.
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Public spending has been rising there as the government tries to prop up the economy with fiscal stimulus packages like its car-scrapping scheme, but the state has also started reining in its spending to repair its poor public finances.
But some of the most partisan issues of the year--like the fiscal stimulus and government spending packages--have already been settled.
They'll stop funding U.S. fiscal deficits and profligate bailout packages.
But fiscal austerity will not in itself produce growth: three previous austerity packages during the 17 troubled months of President Fernando de la Rua's government only prolonged the recession, driving down tax revenues and thus broadening the deficit.
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