Takeo Hoshi

Profile Information

Affiliation

Division of Economics,Graduate School, The University of Tokyo

Researcher number

50838729

J-GLOBAL ID

201901011143359929

researchmap Member ID

B000372823

Research Interests

• Economic Policy
• Japanese Economy
• Macroeconomics
• Corporate Finance

Research Areas

• Humanities & social sciences / Money and finance / Corporate Finance, Macroeconomics

Research History

• Sep, 2019 - Present

  Professor, Faculty of Economics, The University of Tokyo
• Dec, 2012 - Aug, 2019

  Senior Fellow, Freeman Spogli Institute, Stanford University
• Jul, 2000 - Dec, 2012

  Professor, Graduate School of Inernational Relations and Pacific Studies, University of California, San Diego
• Jul, 1994 - Jun, 2000

  Associate Professor, Graduate School of Inernational Relations and Pacific Studies, University of California, San Diego
• Apr, 1998 - Jul, 1998

  Visiting Scholar, Institute of Monetary and Economic Studies, Bank of Japan
• Apr, 1997 - Mar, 1998

  Tokio Marine & Fire Visiting Associate Professor of Economics of Risk and Information, Faculty of Economics, Osaka University
• Jul, 1988 - Jun, 1994

  Assistant Professor, Graduate School of Inernational Relations and Pacific Studies, University of California, San Diego

Education

• Sep, 1984 - Jun, 1988

  Ph.D., Economics, Massachusetts Institute of Technology
• Apr, 1983 - Jul, 1984

  Graduate School, Economics, University of Tokyo
• Apr, 1979 - Mar, 1983

  Social Sciences, Liberal Arts, University of Tokyo

Awards

• 2015

  Academic Research Promotion Award, Japan Bankers Association

  Takeo Hoshi
• 2011

  Reischauer International Education Award, Japan Society of San Diego and Tijuana

  Takeo Hoshi
• 2006

  Enjoji Jiro Memorial Prize, Nihon Keizai Shimbunsha

  Takeo Hoshi
• 2005

  Nakahara Prize, Japan Economic Association

  Takeo Hoshi
• 2002

  Nikkei Prize for Excellent Books in Economic Science, Corporate Financing and Governance in Japan: Road to Future, Nihon Keizai Shimbunsha

  Takeo Hoshi, Anil Kashyap

Papers

• Potential for Inward Foreign Direct Investment in Japan

  Takeo Hoshi, Kozo Kiyota

  Journal of the Japanese and International Economies, 52 32-52, Jun, 2019 Peer-reviewedInvited
• The decline in bank-led corporate restructuring in Japan: 1981-2010

  Takeo Hoshi, Satoshi Koibuchi, Ulrike Schaede

  Journal of the Japanese and International Economies, 47 81-90, Mar 1, 2018 Peer-reviewedInvited
• Has Abenomics Succeeded in Raising Japan's Inward FDI?

  Takeo Hoshi

  Asian Economic Policy Review, 13 149-168, Jan, 2018 Peer-reviewedInvited
• Japan’s financial regulatory responses to the global financial crisis

  Kimie Harada, Takeo Hoshi, Masami Imai, Satoshi Koibuchi, Ayako Yasuda

  Journal of Financial Economic Policy, 7(1) 51-67, Apr 7, 2015 Peer-reviewedInvited
• Will the US and Europe Avoid a Lost Decade? Lessons from Japan's Postcrisis Experience

  Takeo Hoshi, Anil K. Kashyap

  IMF ECONOMIC REVIEW, 63(1) 110-163, 2015 Peer-reviewedInvited
• Defying gravity: can Japanese sovereign debt continue to increase without a crisis?*

  Takeo Hoshi, Takatoshi Ito

  ECONOMIC POLICY, 29(77) 5-44, Jan, 2014 Peer-reviewedInvited
• Is the Sky the Limit? Can Japanese Government Bonds Continue to Defy Gravity?

  Takeo Hoshi, Takatoshi Ito

  Asian Economic Policy Review, 8(2) 218-2247, Dec, 2013 Peer-reviewedInvited
• Japanese government debt and sustainability of fiscal policy

  Takero Doi, Takeo Hoshi, Tatsuyoshi Okimoto

  JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES, 25(4) 414-433, Dec, 2011 Peer-reviewedInvited
• Financial Regulation: Lessons from the Recent Financial Crises

  Takeo Hoshi

  JOURNAL OF ECONOMIC LITERATURE, 49(1) 120-128, Mar, 2011 Invited
• Will the US bank recapitalization succeed? Eight lessons from Japan

  Takeo Hoshi, Anil K. Kashyap

  JOURNAL OF FINANCIAL ECONOMICS, 97(3) 398-417, Sep, 2010 Peer-reviewedInvited
• Zombie Lending and Depressed Restructuring in Japan

  Ricardo J. Caballero, Takeo Hoshi, Anil K. Kashyap

  AMERICAN ECONOMIC REVIEW, 98(5) 1943-1977, Dec, 2008 Peer-reviewed
• Economics of the living dead

  T Hoshi

  JAPANESE ECONOMIC REVIEW, 57(1) 30-49, Mar, 2006 Invited
• Japan's financial crisis and economic stagnation

  Takeo Hoshi, Anil K. Kashyap

  Journal of Economic Perspectives, 18(1) 3-26, Dec, 2004 Peer-reviewedInvited
• Financial Regulation in Japan: A Sixth Year Review of the Financial Services Agency

  Takeo Hoshi, Takatoshi Ito

  Journal of Financial Stability, 1(2) 229-243, Dec, 2004 Peer-reviewedInvited
• The convoy system for insolvent banks: how it originally worked and why it failed in the 1990s

  T Hoshi

  JAPAN AND THE WORLD ECONOMY, 14(2) 155-180, Apr, 2002 Peer-reviewedInvited
• What Happened to Japanese Banks?

  Takeo Hoshi

  Monetary and Economic Studies, 1-29, 2001 Peer-reviewedInvited
• The Japanese banking crisis: where did it come from and how will it end?

  T Hoshi, A Kashyap

  NBER MACROECONOMICS ANNUAL 1999, 14 129-+, 2000 Invited
• Benefits and costs of Japanese system of corporate governance

  Takeo Hoshi

  Global Economic Review, 26(3) 77-95, 1997 Peer-reviewedInvited
• Heterogeneous beliefs, wealth accumulation, and asset price dynamics

  A Cabrales, T Hoshi

  JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 20(6-7) 1073-1100, Jun, 1996 Peer-reviewed
• CORPORATE STRUCTURE, LIQUIDITY, AND INVESTMENT - EVIDENCE FROM JAPANESE INDUSTRIAL GROUPS

  T HOSHI, A KASHYAP, D SCHARFSTEIN

  QUARTERLY JOURNAL OF ECONOMICS, 106(1) 33-60, Feb, 1991 Peer-reviewed

Books and Other Publications

• The First Great Financial Crisis of the 21st Century

  James R. Barth, George G. Kaufman (Role: Contributor, 145-166)

  World Scientific Publishing, 2016
• Analyzing the Cumulative Impact of Regulatory Reform

  Douglas D. Evanoff, Andrew G. Haldane, George G. Kaufman (Role: Contributor, 165-195)

  World Scientific Publishing, 2016
• The Role of Central Banks in Financial Stability: How Has It Changed?

  Douglas D. Evanoff, Cornelia Holthausen, George G Kaufman, Manfred Kremer (Role: Contributor, 83-104)

  World Scientific Publishing, 2013
• Japan's Bubble, Deflation and Long-term Stagnation

  Koichi Hamada, Anil K Kashyap, David Weinstein (Role: Contributor, 343-373)

  MIT Press, 2011
• The World in Crisis: Insights from Six Shadow Financial Regulatory Committees from Around the World

  Robert Litan (Role: Contributor, 193-225)

  FIC Press, 2011
• Financial Sector Development in the Pacific Rim

  Takatoshi Ito, Andrew Rose (Role: Contributor, 51-87)

  University of Chicago Press, 2009
• Corporate Governance in Japan: Institutional Change and Organizational Diversity

  Masahiko Aoki, Gregory Jackson, Hideaki Miyajima (Role: Contributor, 257-281)

  Oxford University Press, 2007
• Japan's Great Stagnation: Financial and Monetary Policy Lessons for Advanced Economies

  Michael H. Hutchison, Frank Westermann (Role: Contributor, 157-181)

  MIT Press, 2006
• Reviving Japan's Economy: Problems and Prescriptions

  Hugh Patrick, Takatoshi Ito, David Weinstein (Role: Contributor, 147-195)

  MIT Press, 2005
• Structural Impediments to Growth in Japan

  Magnus Blomstrom, Jennifer Corbett, Fumio Hayashi, Anil Kashyap (Role: Contributor, 37-69)

  University of Chicago Press, 2003
• Corporate Financing and Governance in Japan: The Road to the Future

  Takeo Hoshi, Anil K Kashyap (Role: Joint author)

  MIT Press, 2001
• Finance, Governance, and Competitiveness in Japan

  Masahiko Aoki, Gary R. Saxonhouse (Role: Contributor, 99-117)

  Oxford University Press, 2000
• Crisis and Change in the Japanese Financial System

  Takeo Hoshi, Hugh Patrick (Role: Joint editor)

  Kluwer Academic Publishers, 2000
• Comparative Corporate Governance: The State of the Art and Emerging Research

  Klaus J. Hopt, Hideki Kanda, Mark J. Roe, Eddy Wymeersch, Stefan Prigge (Role: Contributor, 847-875)

  Oxford University Press, 1998
• Universal Banking: Financial System Design Reconsidered

  Anthony Saunders, Ingo Walter (Role: Contributor, 205-244)

  Irwin, 1996
• Japanese Firms, Finance and Markets

  Paul Sheard (Role: Contributor, 222-248)

  Addison-Wesley, 1996
• Corporate Governance in Transitional Economies: Insider Control and the Role of Banks

  Masahiko Aoki, Hyung-Ki Kim (Role: Contributor, 303-359)

  The World Bank, 1995
• The Japanese Firm: The Sources of Competitive Strength

  Masahiko Aoki, Ronald Dore (Role: Contributor, 285-309)

  Oxford University Press, 1994
• The Japanese Main Bank System: Its Relevance for Developing and Transforming Economies

  Masahiko Aoki, Hugh Patrick (Role: Contributor, 592-633)

  Oxford University Press, 1994
• Japanese Monetary Policy

  Kenneth Singleton (Role: Contributor, 63-94)

  University of Chicago Press, 1993