By MASAHIRO OKUNO-FUJIWARA, Faculty of Economics, University of Tokyo
The JEA (Japanese Economic Association)-Nakahara Prize was founded in 1995, and is funded by a kind donation from Mr Nobuyuki Nakahara. The purpose of the prize is to honor young Japanese economists under the age of 45 who have accomplished internationally recognized academic research.
It
is my pleasure to announce that the 2001 JEA-Nakahara prize has been
awarded to Professor Charles Yuji Horioka. He was born in 1956,
received a BA (Magna cum Laude) in 1977 and a PhD in 1985, both from
Harvard University. He is currently professor of the Institute of
Social and Economic Research with which he has been affiliated since
1987.
Professor Horioka has made several outstanding contributions in the areas of International capital flows and Saving and consumption in Japan. Among his major contributions is a seminal piece written jointly with Martin Feldstein. The work gave birth to the celebrated ``Feldstein-Horioka Paradox'', which reveals a strong correlation between national savings and investments. Since 1988, Professor Horioka has published a series of highly important papers on saving behaviour in Japan, which have made him one of the most influential specialists on the Japanese economy in the world. Professor Horioka's major contributions include the following.
“Domestic
Savings and International Capital Flows”, Economic Journal,
vol. 90 (1980), pp. 314-329 (with Martin S. Feldstein).
“The
Determinants of Japan's Saving Rate: The Impact of the Age Structure
of the Population and Other Factors”,
Economic Studies Quarterly (now the Japanese Economic
Review), vol. 42 (1991), pp. 237-253.
“Japan's
Consumption and Saving in International Perspective”, Economic
Development and Cultural Change, vol. 42 (1994), pp.
293-316.
“Capital
Gains in Japan: Their Magnitude and Impact on Consumption”,
Economic Journal,
vol. 106 (1996), pp. 560-577.
“Why
Do People Save? A Microanalysis of Motives for Household Saving in
Japan”, Economic Journal, vol. 107 (1997), pp. 560-577
(with Wako Watanabe).
Selection Committee
Masahiro
Okuno-Fujiwara, University of Tokyo (Chair)
Cheng Hsiao,
University of Southern California
Tatsuo Hatta, University of
Tokyo
Dale Jorgenstern, Harvard University
Kazuo Nishimura,
Kyoto University (2000 president of JEA)
Andrew Postlewaite,
University of Pennsylvania
Hiroshi Yoshikawa, University of Tokyo