Expertise
Japanese Economy, Financial Crises, Financial Regulation, Monetary Policy, Corporate Governance
Education
1988 Ph.D. in Economics, Massachusetts Institute of Technology
1983 Bachelor of Liberal Arts, University of Tokyo
Experience
2013 - present Federal Reserve Bank of San Francisco
2012 - present Professor of Finance (by courtesy), Stanford Graduate School of Business
2012 - present Henri and Tomoye Takahashi Senior Fellow, Shorenstein Asia-Pacific Research Center
1997 - 1998 Faculty of Economics, Osaka University
1988 - 2012 Pacific Economic Cooperation Professor in International Economic Relations at Graduate School of International Relations and Pacific Studies, University of California, San Diego
Selected Publications and Papers
- Corporate Finance and Governance in Japan: The Road to the Future (Joint with Anil Kashyap) Cambridge, MA; MIT Press, 2001; (Japanese version titled Nihon Kin'yu System Shinka-ron (Evolution of the Japanese Financial System) translated by Satoshi Koibuchi, published from Nihon Keizai Shimbun-sha, 2006.)
- Crisis and Change in the Japanese Financial System. (Co-edited with Hugh Patrick) Boston, MA; Kluwer Academic Publishers, 2000
- "Capital Market Regulation in Japan after the Global Financial Crisis" (Joint with Ayako Yasuda), in Douglas D. Evanoff, Andrew G. Haldane, and George G. Kaufman (Eds.) Analyzing the Cumulative Impact of Regulatory Reform, World Scientific Publishing, pp.165-195, 2016
- "Will the U.S. and Europe Avoid a Lost Decade? Lessons from Japan's Post Crisis Experience" (Joint with Anil K Kashyap), IMF Economic Review, 2015
- "Japan's Financial Regulatory Responses to the Global Financial Crisis" (Joint with Kimie Harada, Masami Imai, Satoshi Koibuchi, and Ayako Yasuda), Journal of Financial Economic Policy, 2015
- "Defying Gravity: Can Japanese sovereign debt continue to increase without a crisis?" (Joint with Takatoshi Ito) Economic Policy, 2014
- "Zombie Lending and Depressed Restructuring in Japan" (Joint with Ricardo Caballero and Anil Kashyap), American Economic Review, December 2008.