Takeo Hoshi

Education

Ph.D., Massachusetts Institute of Technology, 1988 (economics)
Bachelor of Liberal Arts (Kyoyo Gakushi), University of Tokyo, 1983 (social sciences)

Biography

CV

Hoshi is the Pacific Economic Cooperation Professor in international economic relations at IR/PS, research associate at the National Bureau of Economic Research (NBER) and at the Tokyo Center for Economic Research (TCER). His major research area is the study of the financial aspects of the Japanese economy, especially corporate finance and governance.

Hoshi is the inaugural recipient of the 2006 Enjoji Jiro Memorial Prize, which is given by Nihon Keizai Shimbun-sha (Japanese equivalent of the Wall Street Journal) to three leading Japanese economists who work on policy issues every three years. He is also the recipient of 2005 JEA-Nakahara Prize, which is awarded every year by the Japanese Economic Association to a Japanese economist with international recognition under the age of forty five.

His book co-authored with Anil Kashyap (Graduate School of Business, University of Chicago) titled Corporate Financing and Governance in Japan: The Road to the Future (MIT Press, 2001, Japanese version published from Nihon Keizai Shimbun-sha in 2006) received the Nikkei Award for the best economics books in 2002.

Other publications include Crisis and Change in the Japanese Financial System (Kluwer Academic Publishers, 2000, edited with Hugh Patrick, Graduate School of Business, Columbia University); “Economics of the Living Dead,” The Japanese Economic Review, March 2006; “Solutions to Japan’s Banking Problems: What Might Work and What Definitely Will Fail” (Joint with Anil Kashyap) in Hugh Patrick and Takatoshi Ito (Eds.) Reviving Japan’s Economy: Problems and Prescriptions. MIT Press, 2005; “Financial Regulation in Japan: a Sixth Year Review of the Financial Services Agency” (Joint with Takatoshi Ito) Journal of Financial Stability, 2004; “Japan’s Financial Crisis and Economic Stagnation” (Joint with Anil Kashyap) Journal of Economic Perspectives, 2004; “Paying for the FILP” (Joint with Takero Doi) in Magnus Blomström et al. (Eds.) Structural Impediments to Growth in Japan, University of Chicago Press, 2003; “The Convoy System for Insolvent Banks: How It Originally Worked and Why It Failed in the 1990s,” Japan and the World Economy, 2002; and "Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups" (joint with Anil Kashyap and David Scharfstein) Quarterly Journal of Economics, 1991.

Past positions include Associate Professor at IR/PS (1994-2000), Assistant Professor at IR/PS (1988-1994), Tokio Marine & Fire Visiting Associate Professor at Osaka University (1997-1998), and Visiting Scholar at the Bank of Japan Institute for Monetary and Economic Studies (1998). 

Hoshi has been the editor in chief of the Journal of the Japanese and International Economies since 1999.

Professor Hoshi is currently serving as the Acting Dean of IR/PS. As a senior faculty member, Professor Hoshi has played an integral role in the administration of IR/PS and previously served as Associate Dean from 2003 to 2005 and Acting Dean from August through December 2006.

Programs and Centers

International Economics Career Track
Japan Regional Concentration Program

Perspectives

Hoshi can provide commentary on Japan's financial system, bank regulation, macroeconomic conditions and macroeconomic policy.