午夜剧场

I became interested in the issues of non-performing loans and macroeconomics after participating in the planning and drafting of economic stimulus packages in the early 1990s and witnessing Japan's prolonged recession. My main research themes are major economic fluctuations such as the non-performing loan problem, financial crises, and fiscal crises. Partly because I originally studied mathematical engineering, my research is centered on theoretical analysis.

Macroeconomics has many difficult, unsolved problems. What is the relationship between the reason for the existence of money and the effectiveness of monetary policy? To what extent is the rational expectations hypothesis correct? What are the prescriptions and preventive measures for deflation and financial crises? Although these are crucial issues when considering actual economic policy, no generally accepted consensus has yet been formed. The appeal of this theme lies in the abundance of major research questions that relate to the very foundations of economics.

For the past hundred and several decades of Japan's modern era, society has been based on the premise of a growing population. From now on, we will enter an age where the population will continue to decline for a century or more. This is a time of great change for the structure of Japanese society, and the aging and declining population will become a common challenge for all of humanity in the latter half of this century. I believe that studying economics and thinking about economic issues during such a transformative period for both Japan and the world is more significant than ever before. I encourage you to pursue your studies with a lofty perspective and a broad outlook.

(Interview conducted in December 2013)

*Profile and position are as of the time of the interview.