Details about Takeo Hoshi

Phone:	+18587223286
Postal address:	School of Econommics The University of Tokyo 7-3-1 Hongo Bunkyo-ku, Tokyo 113-0033 JAPAN
Workplace:	Faculty of Economics, University of Tokyo, (more information at EDIRC)

Access statistics for papers by Takeo Hoshi.

Last updated 2023-03-12. Update your information in the RePEc Author Service.

Short-id: pho107

---

Jump to Journal Articles Books Edited books Chapters Editor

Working Papers

2021

1. Bank Regulatory Reforms and Declining Diversity of Bank Credit Allocation
   CARF F-Series, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo
2. The Return of the Dead? The COVID-19 Business Support Programs in Japan (Forthcoming in Journal of Banking and Finance)
   CARF F-Series, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo View citations (1)
3. Zombies, Again? The COVID-19 Business Support Programs in Japan
   Bank of Japan Working Paper Series, Bank of Japan View citations (1)
   See also Journal Article in Journal of Banking & Finance (2023)

2020

4. The Great Disconnect: The Decoupling of Wage and Price Inflation in Japan
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)

2019

5. Do Innovation Subsidies Make Chinese Firms More Innovative? Evidence from the China Employer Employee Survey
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
6. Potential for Inward Foreign Direct Investment in Japan
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
   See also Journal Article in Journal of the Japanese and International Economies (2019)
   Chapter (2018)

2017

7. The Decline in Bank-Led Corporate Restructuring in Japan: 1981-2010
   NBER Working Papers, National Bureau of Economic Research, Inc
   See also Chapter (2018)
   Journal Article in Journal of the Japanese and International Economies (2018)

2015

8. Implementing Structural Reforms in Abenomics: How to Reduce the Cost of Doing Business in Japan
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
   Also in Working Paper, Harvard University OpenScholar View citations (4)

2012

9. Defying Gravity: How Long Will Japanese Government Bond Prices Remain High?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (27)

2011

10. Japanese Government Debt and Sustainability of Fiscal Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (82)
    See also Chapter (2010)
    Journal Article in Journal of the Japanese and International Economies (2011)

2008

11. Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
    See also Journal Article in Journal of Financial Economics (2010)

2007

12. Listing Policy and Development of the Tokyo Stock Exchange in the Pre-War Period
    CIRJE F-Series, CIRJE, Faculty of Economics, University of Tokyo
    See also Chapter (2009)
13. Listing Policy and Development of the Tokyo Stock Exchange in the Pre-War Period?(Published in Takatoshi Ito and Andrew Rose eds. "Financial Sector Development in the Pacific Rim". Chicago, IL: University of Chicago Press, pp.51-87, 2009. )
    CARF F-Series, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo

2006

14. Zombie Lending and Depressed Restructuring in Japan
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)
    Also in Working Papers, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State (2006)
    See also Journal Article in American Economic Review (2008)

2005

15. The Genesis and the Development of the Pre-war Japanese Stock Market
    CIRJE F-Series, CIRJE, Faculty of Economics, University of Tokyo View citations (3)
    Also in CARF J-Series, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo (2004)
    See also Journal Article in Economic Review (2005)
16. The Genesis and the Development of the Pre-war Japanese Stock Market ?Published in "Economic Review (Keizai Kenkyu)", January 2005, v. 56, iss. 1, pp. 15-29. ?
    CARF F-Series, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo View citations (1)

2004

17. "The Genesis and the Development of the Pre-war Japanese Stock Market"(in Japanese)
    CIRJE J-Series, CIRJE, Faculty of Economics, University of Tokyo
18. Corporate Finance and Human Resource Management
    Discussion papers, Research Institute of Economy, Trade and Industry (RIETI) View citations (5)
19. Monetary Policy in the Great Recession
    Discussion papers, Research Institute of Economy, Trade and Industry (RIETI) View citations (5)
20. Solution to Japan's Breaking Problems: What might work and what definitely will fail?
    Working Papers, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State
21. Solutions to the Japanese Banking Crisis: What might work and what definitely will fail
    Hi-Stat Discussion Paper Series, Institute of Economic Research, Hitotsubashi University View citations (4)

2002

22. Paying for the FILP
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
    See also Chapter (2003)

2000

23. Bank underwriting of corporate bonds evidence from Japan after the financial system reform of 1993
    Proceedings, Federal Reserve Bank of Chicago View citations (3)

1999

24. The Japanese Banking Crisis: Where Did It Come From and How Will It End?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (203)
    See also Chapter (2000)

1994

25. Evolution of the Main Bank System in Japan
    CEPR Financial Markets Paper, European Science Foundation Network in Financial Markets, c/o C.E.P.R, 33 Great Sutton Street, London EC1V 0DX. View citations (7)

1993

26. Heterogeneous beliefs, wealth accumulation and asset price dynamics
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra View citations (2)
    See also Journal Article in Journal of Economic Dynamics and Control (1996)
27. Lessons from the Japanese main bank system for financial system reform in Poland
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (2)
    Also in Proceedings, Federal Reserve Bank of Chicago (1992) View citations (1)
28. The Choice Between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (124)

1990

29. Evidence on q and investment for Japanese firms
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (46)
    See also Journal Article in Journal of the Japanese and International Economies (1990)
30. The Role of Banks in Reducing the Costs of Financial Distress in Japan
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (491)
    See also Journal Article in Journal of Financial Economics (1990)
31. The role of banks in reducing financial distress in Japan
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (51)

1989

32. Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    See also Chapter (1990)
33. Bank monitoring and investment: evidence from the changing structure of Japanese corporate banking relations
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (33)
34. Corporate structure, liquidity, and investment: evidence from Japanese industrial groups
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (109)
    See also Journal Article in The Quarterly Journal of Economics (1991)

Journal Articles

2023

1. Zombies, again? The COVID-19 business support programs in Japan
   Journal of Banking & Finance, 2023, 147, (C)
   See also Working Paper (2021)

2022

2. Masaaki Shirakawa: Tumultuous times: central banking in an era of crisis Yale University Press, 2021
   Business Economics, 2022, 57, (4), 232-234

2019

3. Potential for inward foreign direct investment in Japan
   Journal of the Japanese and International Economies, 2019, 52, (C), 32-52 View citations (10)
   See also Working Paper (2019)
   Chapter (2018)

2018

4. Has Abenomics Succeeded in Raising Japan's Inward Foreign Direct Investment?
   Asian Economic Policy Review, 2018, 13, (1), 149-168 View citations (8)
5. The decline in bank-led corporate restructuring in Japan: 1981-2010
   Journal of the Japanese and International Economies, 2018, 47, (C), 81-90 View citations (5)
   See also Working Paper (2017)
   Chapter (2018)

2016

6. Introduction on International Finance in the Global Markets
   Journal of the Japanese and International Economies, 2016, 42, (C), 77-78

2015

7. Will the U.S. and Europe Avoid a Lost Decade? Lessons from Japan’s Postcrisis Experience
   IMF Economic Review, 2015, 63, (1), 110-163 View citations (6)

2014

8. Defying gravity: can Japanese sovereign debt continue to increase without a crisis?*
   (Fiscal discipline and the cost of public debt service: some estimates for OECD countries)
   Economic Policy, 2014, 29, (77), 5-44 View citations (46)

2013

9. Is the Sky the Limit? Can Japanese Government Bonds Continue to Defy Gravity?
   Asian Economic Policy Review, 2013, 8, (2), 218-247 View citations (19)

2011

10. Financial Regulation: Lessons from the Recent Financial Crises
    Journal of Economic Literature, 2011, 49, (1), 120-28 View citations (11)
11. Japanese government debt and sustainability of fiscal policy
    Journal of the Japanese and International Economies, 2011, 25, (4), 414-433 View citations (83)
    See also Chapter (2010)
    Working Paper (2011)

2010

12. Sticky prices and inflation dynamics: Editor's introduction
    Journal of the Japanese and International Economies, 2010, 24, (2), 137-139
    See also Chapter (2010)
13. Will the U.S. bank recapitalization succeed? Eight lessons from Japan
    Journal of Financial Economics, 2010, 97, (3), 398-417 View citations (123)
    See also Working Paper (2008)

2009

14. Financial Globalization: Editor's Introduction
    Journal of the Japanese and International Economies, 2009, 23, (2), 87-89
    See also Chapter (2009)

2008

15. Organizational innovation and corporate performance
    Journal of the Japanese and International Economies, 2008, 22, (2), 143-145
    See also Chapter (2008)
16. Zombie Lending and Depressed Restructuring in Japan
    American Economic Review, 2008, 98, (5), 1943-77 View citations (751)
    See also Working Paper (2006)

2007

17. The Embedded Corporation: Corporate Governance and Employment Relations in Japan and the United States. By Sanford M. Jacoby. Princeton: Princeton University Press, 2005. xi + 216 pp. Figures, table, notes, index. Cloth, $35.00. ISBN: 0-691-11999-6
    Business History Review, 2007, 81, (2), 414-417

2006

18. COMMENT: DO SMALL DEPOSITORS EXIT FROM BAD BANKS? EVIDENCE FROM SMALL FINANCIAL INSTITUTIONS IN JAPAN
    The Japanese Economic Review, 2006, 57, (2), 279-281 View citations (3)
19. ECONOMICS OF THE LIVING DEAD*
    The Japanese Economic Review, 2006, 57, (1), 30-49 View citations (35)
20. International Finance
    Journal of the Japanese and International Economies, 2006, 20, (4), 455-458 View citations (170)

2005

21. Enhancing Productivity
    Journal of the Japanese and International Economies, 2005, 19, (4), 457-459 View citations (2)
22. The Genesis and the Development of the Pre‐War Japanese Stock Market
    Economic Review, 2005, 56, (1), 15-29
    See also Working Paper (2005)

2004

23. Financial regulation in Japan: a sixth year review of the Financial Services Agency
    Journal of Financial Stability, 2004, 1, (2), 229-243 View citations (9)
24. Japan's Financial Crisis and Economic Stagnation
    Journal of Economic Perspectives, 2004, 18, (1), 3-26 View citations (99)

2003

25. Editors' introduction
    Journal of the Japanese and International Economies, 2003, 17, (3), 229-232
26. Editors' introduction
    Journal of the Japanese and International Economies, 2003, 17, (4), 401-403

2002

27. EDITORS' INTRODUCTION
    Journal of the Japanese and International Economies, 2002, 16, (4), 401-404
28. Japanese Corporate Governance
    Economic Review, 2002, 53, (4), 289-304 View citations (9)
29. The convoy system for insolvent banks: how it originally worked and why it failed in the 1990s
    Japan and the World Economy, 2002, 14, (2), 155-180 View citations (19)

2001

30. What Happened to Japanese Banks?
    Monetary and Economic Studies, 2001, 19, (1), 1-29 View citations (43)

2000

31. EDITORS' INTRODUCTION
    Journal of the Japanese and International Economies, 2000, 14, (4), 219-220

1999

32. EDITORIAL: Changes in the Editorship of the JJIE
    Journal of the Japanese and International Economies, 1999, 13, (3), 153-153
33. Financial Modernization and Regulation: Experience from Japan* September 16, 1998
    Journal of Financial Services Research, 1999, 16, (2), 305-307

1997

34. Benefits and costs of Japanese system of corporate governance
    Global Economic Review, 1997, 26, (3), 77-95 View citations (1)

1996

35. Heterogeneous beliefs, wealth accumulation, and asset price dynamics
    Journal of Economic Dynamics and Control, 1996, 20, (6-7), 1073-1100 View citations (17)
    See also Working Paper (1993)

1995

36. Postwar Reconstruction and Reorganization in Japan―Tackling an Economy‐wide Insolvency Problem―
    Economic Review, 1995, 46, (1), 31-42

1994

37. Alliance Capitalism: The Social Organization of Japanese Business, Michael L. Gerlach, University of California Press, Berkeley 1992, xxii + 351 pp., $35.00
    Journal of the Japanese and International Economies, 1994, 8, (1), 114-117

1991

38. Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups
    The Quarterly Journal of Economics, 1991, 106, (1), 33-60 View citations (1066)
    See also Working Paper (1989)

1990

39. Evidence on q and investment for Japanese firms
    Journal of the Japanese and International Economies, 1990, 4, (4), 371-400 View citations (56)
    See also Working Paper (1990)
40. The role of banks in reducing the costs of financial distress in Japan
    Journal of Financial Economics, 1990, 27, (1), 67-88 View citations (531)
    See also Working Paper (1990)

1987

41. Stock market rationality and price volatility: Tests using Japanese data
    Journal of the Japanese and International Economies, 1987, 1, (4), 441-462 View citations (2)

Books

2020

1. Financial System, 28th NBER-TCER-CEPR Conference
   NBER Books, National Bureau of Economic Research, Inc

2019

2. Globalization and Welfare Impacts of International Trade
   NBER Books, National Bureau of Economic Research, Inc

2018

3. Corporate Governance (NBER-TCER-CEPR Conference)
   NBER Books, National Bureau of Economic Research, Inc

2016

4. International Finance in the Global Markets
   NBER Books, National Bureau of Economic Research, Inc

2014

5. Experiments for Development: Achievements and New Directions
   NBER Books, National Bureau of Economic Research, Inc

2011

6. Fiscal Policy and Crisis
   NBER Books, National Bureau of Economic Research, Inc View citations (2)

2010

7. Sticky Prices and Inflation Dynamics (NBER-TCER-CEPR)
   NBER Books, National Bureau of Economic Research, Inc

2009

8. Financial Globalization, 20th Anniversary Conference, NBER-TCER-CEPR
   NBER Books, National Bureau of Economic Research, Inc

2008

9. Organizational Innovation and Firm Performance
   NBER Books, National Bureau of Economic Research, Inc

2006

10. International Finance (NBER-TCER-CEPR-University of Tokyo)
    NBER Books, National Bureau of Economic Research, Inc

2005

11. Enhancing Productivity (NBER-CEPR-TCER-Keio conference)
    NBER Books, National Bureau of Economic Research, Inc View citations (1)

2004

12. Corporate Financing and Governance in Japan: The Road to the Future, vol 1
    MIT Press Books, The MIT Press View citations (84)
13. Financing Retirement (NBER-CEPR-TCER-RIETI conference)
    NBER Books, National Bureau of Economic Research, Inc

2003

14. New Developments in Empirical International Trade (NBER-TCER-CEPR-RIETI conference)
    NBER Books, National Bureau of Economic Research, Inc

2002

15. Issues in Fiscal Adjustment (NBER-CEPR-TCER conference)
    NBER Books, National Bureau of Economic Research, Inc

2001

16. Unemployment (NBER-CEPR-TCER conference)
    NBER Books, National Bureau of Economic Research, Inc

2000

17. Monetary Policy under Low Inflation Environment
    NBER Books, National Bureau of Economic Research, Inc

Edited books

2022

1. The Political Economy of the Abe Government and Abenomics Reforms
   Cambridge Books, Cambridge University Press

2021

2. The Political Economy of the Abe Government and Abenomics Reforms
   Cambridge Books, Cambridge University Press View citations (5)

Chapters

2018

1. Corporate Governance: Editor's Introduction
   A chapter in Corporate Governance (NBER-TCER-CEPR Conference), 2018 View citations (1)
2. Potential for Inward Foreign Direct Investment in Japan
   A chapter in Globalization and Welfare Impacts of International Trade, 2018
   See also Working Paper (2019)
   Journal Article in Journal of the Japanese and International Economies (2019)
3. The Decline in Bank-led Corporate Restructuring in Japan: 1981-2010
   A chapter in Corporate Governance (NBER-TCER-CEPR Conference), 2018 View citations (5)
   See also Journal Article in Journal of the Japanese and International Economies (2018)
   Working Paper (2017)

2015

4. Capital Market Regulation in Japan after the Global Financial Crisis
   Chapter 7 in The New International Financial System Analyzing the Cumulative Impact of Regulatory Reform, 2015, pp 165-195 View citations (1)
5. Japan's Financial Regulatory Responses to the Global Financial Crisis
   Chapter 6 in The First Great Financial Crisis of the 21st Century A Retrospective, 2015, pp 145-166 View citations (2)

2013

6. Editors' introduction
   A chapter in Experiments for Development: Achievements and New Directions, 2013
7. Role of Central Banks in Financial Stability: Lessons from the Experience of the Bank of Japan
   Chapter 5 in The Role of Central Banks in Financial Stability How Has It Changed?, 2013, pp 83-104

2010

8. Fiscal Policy and Crisis: Editor's introduction
   A chapter in Fiscal Policy and Crisis, 2010
9. Japanese Government Debt and Sustainability of Fiscal Policy
   A chapter in Fiscal Policy and Crisis, 2010
   See also Working Paper (2011)
   Journal Article in Journal of the Japanese and International Economies (2011)
10. Sticky Prices and Inflation Dynamics: Editor's Introduction
    A chapter in Sticky Prices and Inflation Dynamics (NBER-TCER-CEPR), 2010, pp 137-139
    See also Journal Article in Journal of the Japanese and International Economies (2010)

2009

11. Financial Globalization: Editor's Introduction
    A chapter in Financial Globalization, 20th Anniversary Conference, NBER-TCER-CEPR, 2009
    See also Journal Article in Journal of the Japanese and International Economies (2009)
12. Listing Policy and Development of the Tokyo Stock Exchange in the Pre-War Period
    A chapter in Financial Sector Development in the Pacific Rim, 2009, pp 51-87 View citations (6)
    See also Working Paper (2007)

2008

13. Organizational Innovation and Corporate Performance
    A chapter in Organizational Innovation and Firm Performance, 2008, pp 143-145
    See also Journal Article in Journal of the Japanese and International Economies (2008)

2003

14. Paying for the FILP
    A chapter in Structural Impediments to Growth in Japan, 2003, pp 37-70 View citations (15)
    See also Working Paper (2002)

2000

15. The Japanese Banking Crisis: Where Did It Come From and How Will It End?
    A chapter in NBER Macroeconomics Annual 1999, Volume 14, 2000, pp 129-212 View citations (72)
    See also Working Paper (1999)

1993

16. Japanese Corporate Investment and Bank of Japan Guidance of Commercial Bank Lending
    A chapter in Japanese Monetary Policy, 1993, pp 63-94 View citations (39)

1990

17. Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships
    A chapter in Asymmetric Information, Corporate Finance, and Investment, 1990, pp 105-126 View citations (83)
    See also Working Paper (1989)

Editor

1. Journal of the Japanese and International Economies
   Elsevier