is a Japanese macroeconomist at the
Keio University
, mottoeng = The pen is mightier than the sword
, type = Private research coeducational higher education institution
, established = 1858
, founder = Yukichi Fukuzawa
, endowmen ...
. His areas of expertise are endogenous growth theory, general equilibrium, business cycles, debt problems, debt control policy, and macropolitical economy. He received a Ph.D. in Economics in 1998 from the
University of Chicago
The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...
. His dissertation "The Division of Labor, the Extent of the Market, and Economic Growth" was written under supervision of
Robert Lucas, a prominent American economist and a
Nobel Prize
The Nobel Prizes ( ; sv, Nobelpriset ; no, Nobelprisen ) are five separate prizes that, according to Alfred Nobel's will of 1895, are awarded to "those who, during the preceding year, have conferred the greatest benefit to humankind." Alfr ...
winner in Economics in 1995. Kobayashi was awarded the Nikkei Economics Book Award in 2001 and the Osaragi Jiro Critics Award in 2002, both for ''Trap of the Japanese Economy''.
Biography
Kobayashi is a Professor of the Faculty of Economics at the
Keio University
, mottoeng = The pen is mightier than the sword
, type = Private research coeducational higher education institution
, established = 1858
, founder = Yukichi Fukuzawa
, endowmen ...
.
He is also a Faculty Fellow of the Research Institute of Economy, Trade and Industry,
and a Research Director at the Canon Institute for Global Studies.
He earned his master's degree in engineering from the School of Engineering,
University of Tokyo
, abbreviated as or UTokyo, is a public research university located in Bunkyō, Tokyo, Japan. Established in 1877, the university was the first Imperial University and is currently a Top Type university of the Top Global University Project by ...
, and a doctorate in economics from the
University of Chicago
The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...
. He worked at the
Ministry of Economy, Trade and Industry
The or METI, is a ministry of the Government of Japan. It was created by the 2001 Central Government Reform when the Ministry of International Trade and Industry (MITI) merged with agencies from other ministries related to economic activities, ...
and the Research Institute of Economy, Trade and Industry, and was a professor at the Institute of Economic Research of
Hitotsubashi University
is a national university located in Tokyo, Japan. It has campuses in Kunitachi, Kodaira, and Chiyoda. One of the top 9 Designated National University in Japan, Hitotsubashi is a relatively small institution specialized solely in social sciences ...
before becoming a professor in the Faculty of Economics, Keio University.
Education
* 1998 Ph.D., Economics, the University of Chicago
* 1991 M.S., Mathematical Engineering, the University of Tokyo
Experience
* 2013.4 - Faculty Fellow, RIETI
* 2013.4 - Professor, Faculty of Economics, Keio University
* 2010.8 - 2013.3 Professor, Institute of Economic Research, Hitotsubashi University
* 2010.4 - 2010.9 Special Visiting Professor, Faculty of Economics, Graduate School of Economics, Keio University
* 2009.4 - Senior Fellow, The Tokyo Foundation
* 2009.4 - Research Director, Canon Institute for Global Studies
* 2007.6 - 2013.3 Senior Fellow, RIETI
* 2007.6 - 2008.3 Executive Research Fellow, The Center for Global Communications (GLOCOM),
International University of Japan
The is a private university located in Minamiuonuma city in Niigata Prefecture, Japan.
IUJ is the first graduate university in Japan, not offering undergraduate degrees, and one of the few Japanese universities which offers all courses in En ...
* 2007.4 - 2009.3 Part-time Lecturer, Institute of Economic Research, Kyoto University
* 2005.4 - Visiting Professor,
Chuo University
, commonly referred to as or , is a private flagship research university in Tokyo, Japan. Founded in 1885 as Igirisu Hōritsu Gakkō (the English Law School), Chuo is one of the oldest and most prestigious institutions in the country. The univer ...
* 2003.1 - 2007.6 Guest Editorial Writer, The
Asahi Shimbun
is one of the four largest newspapers in Japan. Founded in 1879, it is also one of the oldest newspapers in Japan and Asia, and is considered a newspaper of record for Japan. Its circulation, which was 4.57 million for its morning edition and ...
* 2001.4 - 2007.6 Fellow, RIETI
* 1991.4 - Joined the
Ministry of International Trade and Industry
The was a ministry of the Government of Japan from 1949 to 2001. The MITI was one of the most powerful government agencies in Japan and, at the height of its influence, effectively ran much of Japanese industrial policy, funding research and di ...
(Japan)
Bibliography
Published papers
* "Payment Uncertainty and the Productivity Slowdown," ''Macroeconomic Dynamics'' (2007) 11(2): 231-248.
* "Forbearance Impedes Confidence Recovery," ''Journal of Macroeconomics'' (2007) 29(1): 178-188.
* "Business Cycle Accounting for the Japanese Economy," ''Japan and the World Economy'' (2006) 18(4): 418-440.
* "Fiscal Consequences of Inflationary Policies," ''Journal of the Japanese and International Economies'' (2005) 19:386-93.
* "Debt Disorganization in Japan," ''Japan and the World Economy'' (2005) 17:151-69.
* "A Theory of Debt Disorganizaiton," ''Journal of Restructuring Finance'' (2004) 1(1): 1-11.
* "Forbearance Lending: The Case of Japanese Firms," (with Toshitaka Sekine, Yumi Saita) Bank of Japan Monetary and Economic Studies (2003) 21(2):69-92.
Books
* ''The Price of Escape'' (in Japanese), Nikkei Publishing, 2003.
* ''Trap of the Japanese Economy'' (in Japanese, co-authored with Sota Kato), Nikkei Publishing, 2001.
* ''Economics of Balance-Sheet Restructuring'' (in Japanese, co-edited with Mitsuhiro Fukao, Tatsuya Terazawa), Toyokeizai, 2001.
* ''Debate on the Japanese Macroeconomic Policy'' (in Japanese, co-edited with Hiroshi Yoshikawa, et al.), Toyokeizai, 2000.
Recent media coverage
Rational Expectation Hypothesis and the Next Issues(Economic Trend - Economics Lecture Series, ''Nikkei'' newspaper) 2017.2.20
Debate on the Japan's Government debt(featured article, ''Nikkei'' newspaper) 2016.10.09
Debate-Japan's Critical Fiscal Situation - Who takes this responsibility?(video, ''Nikkei'' newspaper) 2016.10.09
Discussion/working papers
* "Bank Distress and Productivity of Borrowing Firms: Evidence from Japan" (with Fumio Akiyoshi), RIETI Discussion Paper Series 07-E-014, 2007
Full_Paper_[PDF:_279KB/nowiki>.html" ;"title="DF: 279KB">
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/nowiki>* "Collateral Constraint and News-driven Cycles" (with Tomoyuki Nakajima and Masaru Inaba), RIETI Discussion Paper Series 07-E-013, 2007
Full Paper [PDF: 725KB
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* "'Irrational exuberance' in the Pigou Cycle under Collateral Constraints" (with Masaru Inaba), RIETI Discussion Paper Series 06-E-015, 2006.3
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Summary
* "Borrowing Constraints and Protracted Recessions" (with Masaru Inaba) RIETI Discussion Paper Series 06-E-011, 2006.3
Full Paper [PDF:456KB
/nowiki>]
Summary
* "Transaction Services and Asset-price Bubbles (Revised)," RIETI Discussion Paper Series 06-E-010, 2006.3
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Summary
* "Business Cycle Accounting for the Japanese Economy" (with Masaru Inaba), RIETI Discussion Paper Series 05-E-023, 2005.9
Full Paper [PDF:372KB
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Summary
* "Forbearance Impedes Confidence Recovery (Revised)," RIETI Discussion Paper Series 5-E-002, 2005.2.
* "Payment Uncertainty, the Division of Labor, and Productivity Declines in Great Depressions," RIETI Discussion Paper Series 04-E-037, 2004.12.
* "Is Financial Friction Irrelevant to the Great Depression? - Simple modification of the Carlstrom-Fuerst model-," RIETI Discussion Paper Series 04-E-030, 2004.9.
* "Payment Uncertainty and the Productivity Slowdown," RIETI Discussion Paper Series 04-E-029, 2004.9.
* "A key currency and a local currency? A simple theoretical model and its welfare implications," RIETI Discussion Paper Series 04-E-025, 2004.8.
* "Monetary Cycles" (with Masaru Inaba), RIETI Discussion Paper Series 04-E-020, 2004.4.
* "Deflation Caused by Bank Insolvency," RIETI Discussion Paper Series 03-E-022, 2003.10.
* "Debt Deflation and Bank Recapitalization," RIETI Discussion Paper Series 03-E-007, 2003.2.
* "Fiscal Consequences of Inflationary Policies," RIETI Discussion Paper Series 02-E-010, 2002.9.
* "Forbearance Impedes Confidence Recovery," RIETI Discussion Paper Series 02-E-005, 2002.6.
* "Japan's Lost Decade and the Complexity Externality (Revised)" (with Masaru Inaba), RIETI Discussion Paper Series 02-E-004, 2002.3.
* KOBAYASHI Keiichiro, SAITA Yumi, SEKINE Toshitaka, "Forbearance Lending: A Case for Japanese Firms," Research and Statistics Department Discussion Paper Series 02-02, Bank of Japan, 2002
Full Paper
* "Deposit Money Creation in Search Equilibrium," Research and Statistics Department Discussion Paper Series 02-04, Bank of Japan, 2002
* "Disorganization due to Forbearance of Debt Restructuring," Working Paper
Full_Paper_[PDF:270KB
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/nowiki>">DF:270KB">Full Paper [PDF:270KB
/nowiki>* "Debt Overhang as a Delayed Penalty," MITI/RI Discussion Paper
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* "The Division of Labor, the Extent of the Market, and Economic Growth" (Ph.D. Dissertation), University of Chicago
* "Financial Crises and Assets as Media of Exchange
DF:118KB* "Bad-Asset Theory of Financial Crises
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References
{{DEFAULTSORT:Kobayashi, Keiichiro
Japanese economists
Academic staff of Keio University
University of Tokyo alumni
University of Chicago alumni
1966 births
Living people