Center on Japanese Economy and Business

Read our 2022-2023 Annual Report

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Announcement from the Center on Japanese Economy and Business, Columbia Business School

We are proud to announce that the Japanese government has honored Professor David E. Weinstein, the Carl S. Shoup Professor of the Japanese Economy at Columbia University and Director of the Center on Japanese Economy and Business at Columbia Business School, by awarding him The Order of the Rising Sun, Gold Rays with Neck Ribbon. The Order of the Rising Sun, established in 1875 by Emperor Meiji, was Japan’s first award. It is conferred on behalf of the Emperor of Japan as one of the highest honors bestowed by the Japanese government on people who have rendered distinguished service to Japan.   

The conferral recognizes Professor Weinstein’s significant contributions to promoting academic exchange and mutual understanding between Japan and the United States. Professor Weinstein’s long-standing commitment to studying and understanding the Japanese economy and his dedication to research and cross-cultural exchange embody the spirit of this prestigious award. 

“I am deeply honored to receive this award and to be included among those who have made major contributions to Japan and the world,” Professor Weinstein said upon hearing the news. 

(11/3/23)  

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Professor Masazumi Wakatabe, CJEB Summer 2023 Visiting Scholar, Wrote the Article "Lessons for China from Japan’s lost decade" for Financial Times

Professor Masazumi Wakatabe, CJEB Summer 2023 visiting scholar, former deputy governor of the Bank of Japan, and professor of economics at Waseda University, wrote the Financial Times article "Lessons for China from Japan’s lost decade" Professor Wakatabe states in the article, “China’s recent economic slowdown has elicited comparison with Japan in the 1990s and its subsequent long stagnation with deflation. But are there real parallels to be drawn between the two countries?”

Lessons for China from Japan’s lost decade (Financial Times, 10/6/23)

Professor Takatoshi Ito, Director of CJEB's Program on Public Pension and Sovereign Funds, Wrote the Article "The Will, but Not the Way, to Increase Japan’s Defense Budget" for Project Syndicate

Professor Takatoshi Ito, director of CJEB's Program on Public Pension and Sovereign Funds, and professor at the School of International and Public Affairs at Columbia University, wrote the Project Syndicate article "The Will, but Not the Way, to Increase Japan’s Defense Budget " Professor Ito states in the article, “Sensing that there are growing threats to Japan and its neighbors, the Japanese public recognizes the need to develop a greater capacity for deterrence. If the world really is entering a new era of hard power, Japan’s “peace constitution” and soft power may no longer be sufficient to ensure national security.”

The Will, but Not the Way, to Increase Japan’s Defense Budget (Project Syndicate, 6/30/23)

Professor Takatoshi Ito, Director of CJEB’s Program on Public Pension and Sovereign Funds, Was Interviewed on Bloomberg about the Bank of Japan’s Outlook

Professor Takatoshi Ito, Director of CJEB’s Program on Public Pension and Sovereign Funds, appeared on Bloomberg and discussed his outlook for Bank of Japan policy ahead of the central bank's meeting.

Columbia University's Ito on BOJ Policy (Bloomberg, 6/12/2023)

Professor Takatoshi Ito, Director of CJEB's Program on Public Pension and Sovereign Funds, Wrote the Article "What Did the Hiroshima G7 Summit Accomplish?" for Project Syndicate

Professor Takatoshi Ito, director of CJEB's Program on Public Pension and Sovereign Funds, professor at the School of International and Public Affairs at Columbia University, wrote the Project Syndicate article " What Did the Hiroshima G7 Summit Accomplish?" Professor Ito states in the article, “Three clear winners emerged from the Hiroshima G7 Summit. Ukrainian President Volodymyr Zelensky received a powerful demonstration of the continuing solidarity between the G7 and Ukraine; the G7's determination to punish Russia was reaffirmed; and Japanese Prime Minister Fumio Kishida strengthened his support among the Japanese public."

What Did the Hiroshima G7 Summit Accomplish? (Project Syndicate, 5/23/23)

Jackson G. Lu PhD '18, Sloan School Career Development Associate Professor at the MIT Sloan School of Management and a recipient of CJEB’s Doctoral Fellowship, has been featured in a new Nikkei article 《「竹の天井」が広く浸透　米国で東アジア系の初任給低く》

His most recent research, published in the prestigious Journal of Applied Psychology, reveals a Bamboo Ceiling in starting salaries, whereby ethnic East Asians tend to have lower starting salaries than others in the US partly because they are disinclined to negotiate due to higher relational concerns. This research challenges the “model minority” stereotype of Asians in the US.

「竹の天井」が広く浸透　米国で東アジア系の初任給低く (Nikkei Business, 4/13/23)

Professor Takatoshi Ito, Director of CJEB’s Program on Public Pension and Sovereign Funds, Was Interviewed on Bloomberg about the Bank of Japan’s Outlook

Professor Takatoshi Ito, Director of CJEB’s Program on Public Pension and Sovereign Funds, appeared on Bloomberg and discussed his outlook for Bank of Japan's policy as the central bank concludes Governor Haruhiko Kuroda’s final meeting this week.

Columbia University's Ito on BOJ Outlook (Bloomberg, 3/8/2023)

The Speech Given by Bank of Japan Deputy Governor Masazumi Wakatabe at Cjeb’s Event Was Covered by Reuters, CNBC and Other Media Outlets.

The speech given by Bank of Japan Deputy Governor Masazumi Wakatabe at CJEB’s event, "Seven Reflections on Japan's Economy, Monetary Policy, and the Bank of Japan," was covered by Reuters, CNBC and other media outlets. Some of their coverage can be found below.

BOJ's Wakatabe warns secular stagnation risk has yet to pass (Reuters, 2/27/2023)

Bank of Japan official reiterates support for 2% inflation target (CNBC, 2/27/2023)

Professor Takatoshi Ito, Director of CJEB's Program on Public Pension and Sovereign Funds, Wrote the Article "The UN Must Not Be Powerless" for Project Syndicate

Professor Takatoshi Ito, director of CJEB's Program on Public Pension and Sovereign Funds, professor at the School of International and Public Affairs at Columbia University, wrote the Project Syndicate article "The UN Must Not Be Powerless." Professor Ito states in the article that, “The war in Ukraine has highlighted the shaky foundations of the international security order..."

The UN Must Not Be Powerless (Project Syndicate, 2/28/23)

Professor Takatoshi Ito, Director of CJEB’s Program on Public Pension and Sovereign Funds, Quoted in Bloomberg Article “Kuroda Ally Ito Sees Chance of BOJ Starting Policy Normalization in 2023”

Professor Takatoshi Ito, Director of CJEB’s Program on Public Pension and Sovereign Funds, was quoted in the Bloomberg Article “Kuroda Ally Ito Sees Chance of BOJ Starting Policy Normalization in 2023.” The article discusses how “The Bank of Japan may be able to step toward normalizing policy this year by achieving its sustainable inflation target, according to Takatoshi Ito.”

Kuroda Ally Ito Sees Chance of BOJ Starting Policy Normalization in 2023 (Bloomberg, 2/2/2023)

Professor Takatoshi Ito, Director of CJEB's Program on Public Pension and Sovereign Funds, Wrote the Article "Japan’s Fiscal Dilemma" for Project Syndicate

Professor Takatoshi Ito, director of CJEB's Program on Public Pension and Sovereign Funds, professor at the School of International and Public Affairs at Columbia University, wrote the Project Syndicate article "Japan’s Fiscal Dilemma." Professor Ito states in the article that, "Soon after announcing his intention to pay for the planned increase in Japan’s defense budget by raising taxes, fierce opposition, including from his own party, forced Prime Minister Fumio Kishida to backtrack. But, to protect future generations, Japan must maintain fiscal prudence rather than continue to amass debt."

Japan’s Fiscal Dilemma (Project Syndicate, 1/31/23)

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Upcoming Event(s):
 

Conference on Public Pension and Sovereign Funds 
Thursday, November 30, 2023 | 3:00 – 6:10 PM 
Room 620, Geffen Hall, Columbia Business School

Panel I: Macro Environment for Long-Term Investment

Panel II: The University Fund of Japan

Agenda 
 

A Strategy to Address Japan's Declining Fertility Rate
Monday, December 4, 2023 | 12:45 – 1:45 PM (Lunch will be provided)
Room 520, Geffen Hall, Columbia Business School

Featuring: Randall S. Jones, Research Associate, Center on Japanese Economy and Business (CJEB), Columbia Business School; Adjunct Professor, Johns Hopkins University (SAIS); Former Senior Counselor - East Asia and Head of Japan/Korea Desk, Organization for Economic Cooperation and Development (OECD)

Save the Date 
Japan Economic Seminar   
Friday, February 2, 2024  
Location: TBC, Columbia Business School 

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