日本経済学会 - Japanese Economic Association
The JAEE (Japan Association of Economics and Econometrics) - Nakahara Prize was initiated 1995 and is funded by a donation from Mr Nobuyuki Nakahara. The Prize was established to honour young economists under the age of 45 who have achieved internationally recognized research. The selection committee for the Prize consists of three Japanese economists and three overseas economists together with the President of the Association. Their names are listed at the end of this announcement.
We are pleased to announce that the 1995 JAEE-Nakahara Prize has been awarded to Professor Fumio Hayashi. Born in 1952, Fumio Hayashi took his BA from the University of Tokyo and his PhD from Harvard University in 1980. He has taught at Northwestern University, the University of Tsukuba, Osaka University, the University of Pennsylvania and Columbia University. At present, he is Professor of Economics at the University of Tokyo.
Professor Hayashi's research contribution is largely in macroeconomics. The theory of saving behaviour, liquidity constraint, q-theory of investment, taxation and investment, etc. are his main subjects. In particular, he has made a major contribution to our understanding of the rational expectations hypothesis by creating new inference methods and applying them to US and Japanese data on consumption. His research is not only highly original but also well balanced between theory and empirical work. He was elected a Fellow of the Econometric Society in 1988. His main works are as follows: