CHARLES YUJI HORIOKA

Born in Boston, Massachusetts, on September 7, 1956.
U.S. Citizen

PRESENT POSITION

Professor of Economics, Institute of Social and Economic Research, Osaka University, Ibaraki, Osaka, Japan

EDUCATION

B.A. magna cum laude with high honors in Economics, Harvard College, Cambridge, Massachusetts, June 1977.

Diploma in Advanced Japanese Language Studies, Inter-University Center for Japanese Language Studies (administered by Stanford University), Tokyo, Japan (now in Yokohama, Japan), June 1982.

Reserach Student, Graduate School of Economics, University of Tokyo, Tokyo, Japan, October 1982-August 1983.

Ph.D. in Business Economics, Harvard University, Cambridge, Massachusetts, June 1985.
Dissertation title: "Household Saving in Japan: The Importance of Target Saving for Education and Housing"
Supervisor: Professor Dale W. Jorgenson

CAREER HISTORY

• Assistant Professor, Faculty of Economics, Kyoto University, Kyoto, Japan. 1983-85.

• Associate Professor, Faculty of Economics, Kyoto University, Kyoto, Japan. 1985-87.

• Associate Professor, Institute of Social and Economic Research, Osaka University, Osaka, Japan. 1987-97.

• Professor, Institute of Social and Economic Research, Osaka University, Ibaraki, Osaka, Japan. 1997-present.

VISITING AND PART-TIME POSITIONS

• Teaching Fellow, Department of Economics, Harvard University, Cambridge, Massachusetts. September 1979-June 1981.

• Visiting Assistant Professor, Department of Economics, Stanford University, Stanford, CA. January-June 1988.

• Part-time Lecturer, Stanford Japan Center, Kyoto, Japan, April-June 1990.

• Visiting Associate Professor, Department of Economics, Columbia University, New York, N.Y. January-May 1993.

• Adjunct Professor, Osaka School of International Public Policy (OSIPP), Osaka University, Toyonaka, Osaka, Japan, April 1997-present.

FELLOWSHIPS AND GRANTS

• Japan Foundation Language Fellowship, 1981-82.

• U.S. Department of Education Fulbright-Hays Doctoral Dissertation Research Abroad Fellowship, 1982-83.

• Japan Foundation Doctoral Dissertation Fellowship, 1982-83 (declined).

• Japan Foundation for the Promotion of Research in Economics Research Grant, 1984-85.

• Twenty-first Century Cultural and Scientific Foundation Research Grant, 1984-86 (co-researcher with Shuzo Nishimura and Linda Low).

• John M. Olin Foundation Postdoctoral Research Fellowship, Center for Economic Policy Research, Stanford University, Stanford, CA, 1988.

• Japanese Ministry of Education Grant-in-Aid, 1994-95.

• Nomura Foundation for Social Science Travel Grant, 1996.

• Japanese Military of Education Grant-in-Aid, 1996-97 and 1997-98 (principal investigator; co-researchers: Fumio Ohtake and Makoto Saito).

OTHER HONORS AND RECOGNITION

• Teishin Kinenbi Award (given each year to the individual who has made the most outstanding contribution to the Institute during the past year), Institute for Posts and Telecommunications Policy, Ministry of Posts and Telecommunications, Government of Japan, April 1997.

• Biographical dictionaries: International Dictionary of Biography, Men of Achievement, Who's Who in Science and Technology, Who's Who in the World

CITATIONS

Number of citations in the Social Science Index (as of 1996):
Non-self citations: 256
Self citations: 28
Total citations: 284

PROFESSIONAL AFFILIATIONS

American Economic Association
Japan Association of Economics and Econometrics
Royal Economic Society
Tokyo Center for Economic Research

PROFESSIONAL SERVICE

Research Associateships

• National Bureau of Economic Research, Cambridge, MA. 1987-present.
  
• Center for Japan-US Business and Economic Studies, Leonard N. Stern School of Business, New York University, New York, NY. 1989-present.

Committees

Member, Committee on the Japanese Panel Survey on Consumers (JPSC), Institute for Household Economy, Tokyo, Japan. 1993-present.

Editorial Responsibilities

• Associate Editor, Economic Studies Quarterly (now Japanese Economic Review)/ 1988-1994.
  
• Associate Editor, International Economic Review. 1997-present.

Referee Responsibilities

American Economic Review
Asian Economic Journal
Cambridge University Press
Economic Journal
European Economic Review
International Economic Review
Japan and the World Economy
Journal of Economic Studies
Journal of International Money and Finance
Journal of Macroeconomics
Journal of Political Economy
Journal of Public Economics
Journal of the Japanese and International Economies
Kakei Keizai Kenkyu (Journal of the Institute for Household Economy)
Nihon Keizai (Economic Review)
Nihon Keizai Kenkyu (JCER or Japan Center for Economic Research Economic Journal)
Review of Economics and Statistics
Rodo Kenkyu Zasshi (Monthly Journal of the Japan Institute of Labor)
Oxford University Press
Ricerche Economiche
Scandinavian Journal of Economics
Structural Change and Economic Dynamics

Conference Organization

• Program Committee, 27th Econometrics Conference ("Biwako Conference"), July 11-13, 1989.

• Program Committee, 30th and 31st Tokyo Center for Economic Research Conference ("Hakone Conference"), March 23-25, 1992, and March 17-19, 1993.

• Program Committee, Annual Conference of the Japan Association of Economics and Econometrics, September 22-23, 1996.

GOVERNMENT SERVICE

• Contract Research, Economic Research Institute, Economic Planning Agency, Tokyo, Japan, 1982-83.

• Contract Research, Postal Life Insurance Bureau, Ministry of Posts and Telecommunications, Tokyo, Japan, 1983-87.

• Consultant, Asian Department, International Monetary Fund, Washington, DC, 1985.

• Contract Research, Institute of Fiscal and Monetary Studies, Ministry of Finance, Tokyo, 1989-92.

• Member, Advisory Committee on Fiscal Problems (Zaisei Mondai Chosa Kenkyu no tame no Kondankai), Budget Bureau, Ministry of Finanace, Tokyo, Japan, 1989-present.

• Contract Research, Kinki Postal Bureau, Osaka, Japan, 1990-91 and 1992-93.

• Contract Research, Information Services Bureau, Bank of Japan, Tokyo, Japan, 1991-92.

• Special Guest Research Officer, Institute for Posts and Telecommunications Policy, Ministry of Posts and Telecommunications, Tokyo, Japan, 1992-present.

• Member, Economic Advisory Council to the Prime Minister of Japan (Keizai Shingi-kai), 1994.

COMMUNITY SERVICE

• Non-resident Tutor in Economics and Business, Currier House, Harvard University, 1979-81.

• Harvard University Office of Career Services Alumni Referral Program, 1983-present.

• Interviewer, Fulbright Fellowship Program, 1995.

• Lecturer, Kinki Area Broadcast University Radio Lecture Series ("The Japanese Economy and Firm Management in the 21st Century"), 1996.

LANGUAGE ABILITY

Fully fluent in English and Japanese, working knowledge of French

ARTICLES IN REFEREED JOURNALS

1. "Domestic Saving and International Capital Flows," Economic Journal, vol. 90, no. 358 (June 1980), pp. 314-329 (co-author with Martin S. Feldstein).

2. "International Differences in Social Security and Saving: A Comparison of the Barro and Feldstein Estimates," published as an Appendix to Martin S. Feldstein, "International Differences in Social Security and Saving," Journal of Public Economics, vol. 14, no. 2 (October 1980), pp. 225-244.

3. "Saving for Housing Purchase in Japan," Journal of the Japanese and International Economies, vol. 2, no. 3 (September 1988), pp. 351-384.

4. "Tenure Choice and Housing Demand in Japan," Journal of Urban Economics, vol. 24, no. 3 (November 1988), pp. 289-309.

5. "Why Is Japan's Household Saving Rate So High? A Literature Survey," Journal of the Japanese and International Economies, vol. 4, no. 1 (March 1990), pp. 49-92.

6. "The Determinants of Japan's Saving Rate: The Impact of the Age Structure of the Population and Other Factors," The Economic Studies Quarterlyüinow called the Japanese Economic Reviewüj, vol. 42, no. 3 (September 1991), pp. 237-253.

7. "Future Trends in Japan's Saving Rate and the Implications Thereof for Japan's External Imbalance," Japan and the World Economy, vol. 3, no. 4 (April 1992), pp. 307-330. Reprinted in Lawrence R. Klein, ed., A Quest for a More Stable World Economic System: Restructuring at a Time of Cyclical Adjustment (Dordrecht, Boston, and London: Kluwer Academic Publishers, 1993), pp. 299-328.

8. "Japan's Consumption and Saving in International Perspective," Economic Development and Cultural Change, vol. 42, no. 2 (January 1994), pp. 293-316.

9. "Is Japan's Household Saving Rate Really High?" Review of Income and Wealth, series 41, no. 4 (December 1995), pp. 373-397.

10. "Capital Gains in Japan: Their Magnitude and Impact on Consumption," Economic Journal, vol. 106, no. 436 (May 1996), pp. 560-577.

11. "Do the Aged Dissave in Japan? Evidence from Micro Data," Journal of the Japanese and International Economies, vol. 10, no. 3 (September 1996), pp. 295-311 (co-author with Norihiro Kasuga, Katsuyo Yamazaki, and Wako Watanabe).

12. "Why Do People Save? A Micro-Analysis of Motives for Household Saving in Japan," Economic Journal, vol. 107, no. 442 (May 1997), forthcoming (co-author with Wako Watanabe).

13. "A Cointegration Analysis of the Impact of the Age Structure of the Population on the Household Saving Rate in Japan," Review of Economics and Statistics, forthcoming.

BOOKS

1. Koreika Shakai no Chochiku to Isan/Sozoku (Saving and Bequests in an Aging Society). Tokyo: Nihon Hyoronsha, 1996. (co-editor/co-author with Noriyuki Takayama and Kiyoshi Ohta; in Japanese)

2. Household Saving in Japan: The Importance of Saving for Specific Motives (Contributions to Economic Analysis Series). Amsterdam: North-Holland/Elsevier Science, 1998.

3. Nichibei Kakei no Chochiku Kodo: Genjo to Bunseki (The Saving Behavior of US and Japanese Households: Facts and Analysis. Tokyo: Nihon Hyoronsha, 1998. (co-editor/co-author with Koji Hamada; in Japanese)

ARTICLES IN REFEREED BOOKS

1. "Why Is Japan's Private Saving Rate So High?" in Ryuzo Sato and Takashi Negishi, eds., Developments in Japanese Economics (Tokyo: Academic Press/Harcourt Brace Jovanovich, Publishers, 1989), pp. 145-178. (externally refereed)

2. "Consuming and Saving," in Andrew Gordon, ed., Postwar Japan as History (Berkeley, California: University of California Press, 1993), pp. 259-292. (externally refereed)

3. "Saving in Japan," in Arnold Heertje, ed., World Savings: An International Survey (Oxford, UK, and Cambridge, USA: Blackwell Publishers, 1993), pp. 238-278. (refereed by Franco Modigliani)

4. "Saving Motives in Japan," in Tsuneo Ishikawa, ed., The Distribution of Income and Weath in Japan (Oxford, U.K.: Oxford University Press), forthcoming (co-author with Fumio Ohtake). (editor-refereed)

OTHER SCHOLARLY ARTICLES

1. "The Applicability of the Life-Cycle Hypothesis of Saving to Japan," The Kyoto University Economic Review, vol. 54, no. 2 (October 1984), pp. 31-56.

2. "The Importance of Saving for Education in Japan," The Kyoto University Economic Review, vol. 55, no. 1 (April 1985), pp. 41-78.

3. "Why Is Japan's Private Savings Rate So High?" Finance and Development (a quarterly publication of the International Monetary Fund and the World Bank), vol. 23, no. 4 (December 1986), pp. 22-25.

4. "The Cost of Marriages and Marriage-related Saving in Japan," The Kyoto University Economic Review, vol. 57, no. 1 (April 1987), pp. 47-58.

5. "The Importance of Life-Cycle Saving in Japan: A Novel Estimation Method," mimeo, August 1990.

6. "Are Americans More Altruistic than the Japanese? A U.S.-Japan Comparison of Saving and Bequest Motives," mimeo, March 1997. (co-author with Wako Watanabe and Hideki Fujisaki)

7. "Japan's Public Pension System: What's Wrong With It and How to Fix It," in Federal Reserve Bank of Boston, ed. Social Security Reform (Boston, MA: Federal Reserve Bank of Boston), forthcoming.

BOOK REVIEW

Review of The Political Economy of Japan, vol. 1: The Domestic Transformation, edited by Kozo Yamamura and Yasukichi Yasuba (Stanford, CA: Stanford University Press, 1987), Journal of Asian Studies, vol. 47, no. 3 (August 1988), pp. 657-658.

OTHER ARTICLES

1. "A Resounding 'No' to Protectionism," Japan Times (May 5, 1986), p. 9.

2. "Savings: Old and New Trends Why Save So Much?" Look Japan, vol. 33, no. 374 (May 1987), pp. 9-11.

3. "Japan and the World: Standards of Living Room to Improve," Look Japan, vol. 34, no. 391 (October 1988), pp. 7-9.

4. "Do the Japanese Live Better than Americans?" in James Mak, Shyam Sunder, Shigeyuki Abe, and Kazuhiro Igawa, eds., Japan: Why It Works, Why It Doesn't -- Economics in Everyday Life (Honolulu: University of Hawaii Press, 1997), forthcoming.

   Note: A complete list of Japanese-language articles is available upon request.

TRANSLATIONS

1. Hamada, Koichi, The Political Economy of International Monetary Interdependence (English translation of Kokusai Kin'yu no Seiji Keizai-gaku, Tokyo: Sobunsha, 1982), Cambridge, MA: The MIT Press, 1985. (co-translator with Chi-Hung Kwan). 187pp.

2. Hall, Robert E., and Taylor, John B., Makuroekonomikusu (Japanese translation of Robert E. Hall and John B. Taylor, Macroeconomics: Theory, Performance, and Policy, 3rd edition (New York, NY: W.W. Norton and Co., Inc., 1991) Tokyo: Taga Shuppan, 1994. (co-translators with Chikashi Moriguchi, Kanemi Ban, Akira Kohsaka, and Yasushi Ohkusa). 468pp.