Keiichiro Kobayashi


Keiichiro Kobayashi is a Japanese macroeconomist at the Keio University. 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. 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 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. 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, and a doctorate in economics from the University of Chicago. He worked at the Ministry of Economy, Trade and Industry and the Research Institute of Economy, Trade and Industry, and was a professor at the Institute of Economic Research of Hitotsubashi University before becoming a professor in the Faculty of Economics, Keio University.

Education

Experience

Published papers

  • "Forbearance Lending: The Case of Japanese Firms", Bank of Japan Monetary and Economic Studies 21:69-92.
  • "A Theory of Debt Disorganizaiton", Journal of Restructuring Finance 1: 1-11.
  • "Debt Disorganization in Japan", Japan and the World Economy 17:151-69.
  • "Fiscal Consequences of Inflationary Policies", Journal of the Japanese and International Economies 19:386-93.
  • "Business Cycle Accounting for the Japanese Economy", Japan and the World Economy 18: 418-440.
  • "Forbearance Impedes Confidence Recovery", Journal of Macroeconomics 29: 178-188.
  • "Payment Uncertainty and the Productivity Slowdown", Macroeconomic Dynamics 11: 231-248.

Books

Debate on the Japanese Macroeconomic Policy, Toyokeizai, 2000.Economics of Balance-Sheet Restructuring, Toyokeizai, 2001.Trap of the Japanese Economy, Nikkei Publishing, 2001.The Price of Escape, Nikkei Publishing, 2003.

Media coverage

Discussion/working papers

  • Kobayashi Keiichiro, Saita Yumi, Sekine Toshitaka,, Research and Statistics Department Discussion Paper Series 02-02, Bank of Japan, 2002.
  • , Research and Statistics Department Discussion Paper Series 02-04, Bank of Japan, 2002.
  • "Japan's Lost Decade and the Complexity Externality ", RIETI Discussion Paper Series 02-E-004, March 2002.
  • "Forbearance Impedes Confidence Recovery," RIETI Discussion Paper Series 02-E-005, June 2002.
  • "Fiscal Consequences of Inflationary Policies," RIETI Discussion Paper Series 02-E-010, September 2002.
  • "Debt Deflation and Bank Recapitalization," RIETI Discussion Paper Series 03-E-007, February 2003.
  • "Deflation Caused by Bank Insolvency," RIETI Discussion Paper Series 03-E-022, October 2003.
  • "Monetary Cycles", RIETI Discussion Paper Series 04-E-020, April 2004.
  • "A key currency and a local currency? A simple theoretical model and its welfare implications," RIETI Discussion Paper Series 04-E-025, August 2004.
  • "Is Financial Friction Irrelevant to the Great Depression? - Simple modification of the Carlstrom-Fuerst model-", RIETI Discussion Paper Series 04-E-030, September 2004.
  • "Payment Uncertainty and the Productivity Slowdown," RIETI Discussion Paper Series 04-E-029, September 2004.
  • "Payment Uncertainty, the Division of Labor, and Productivity Declines in Great Depressions", RIETI Discussion Paper Series 04-E-037, December 2004.
  • "Forbearance Impedes Confidence Recovery ", RIETI Discussion Paper Series 5-E-002, February 2005.
  • , RIETI Discussion Paper Series 05-E-023, September 2005.
  • RIETI Discussion Paper Series 06-E-011, March 2006.
  • , RIETI Discussion Paper Series 06-E-010, March 2006.
  • , RIETI Discussion Paper Series 06-E-015, March 2006.
  • , RIETI Discussion Paper Series 07-E-014, 2007.
  • , RIETI Discussion Paper Series 07-E-013, 2007.
  • , Working Paper.
  • , MITI/RI Discussion Paper.The Division of Labor, the Extent of the Market, and Economic Growth, University of Chicago