This paper argues that the falling asset prices caused a mass of bad assets, which had counteracted the effects of the two policies. 本文認為，泡沫危機後日本資產價格的持續下跌，導致各經濟主體出現大全的不良資產，抵消了以上兩大政策的經濟效應。
But the aggregated economy effect including urbanization effect and localization effect tends to decline when the cities' population is beyond a certain size. 但是在達到一定城市規模以後，城市人口規模越大，包含地方化經濟和城市化經濟的聚集經濟效應呈現遞減趨勢。
