|April 25 (Wed)：Report at the IER-PRI Exchange Workshop|
At the IER-PRI Exchange Workshop, a workshop for exchange held by PRI and the Institute of Economic Research, Hitotsubashi University with the aim of promoting research cooperation, Chief Economist OKU Ai reported on “Rationality of Corporate Cash Holdings.”
Report: “Rationality of Corporate Cash Holdings”
Presenter: OKU Ai (Chief Economist, Research and Administration Department, PRI)
|April 1 (Sun) to 7 (Sat)：Visiting Uzbekistan (Support for BFA, etc.)|
Policy Research Institute (PRI) has been providing a variety of support to the Banking and Finance Academy (BFA), which is a training institution for young candidate-executives of the Uzbekistan Ministry of Finance and others as part of intelligent support for economies in transition.
This time, Mr. MUNENAGA Kensaku, First Vice Rector of BFA and Senior Research Fellow of PRI, and Mr. MEGURO Katsuyuki, Director-General of the Research and Administration Department of PRI, visited the country and exchanged opinions with high officials in Uzbekistan including Mr. Dilshod Sattarov, Deputy Minister of Finance. They also held selection interviews of applicants from the BFA for the “Seminar for Central Asian and Caucasian Countries” to be held in Tokyo this summer. In addition, Director-General Munenaga delivered special lectures for BFA and Fergana State University students.
|【Special lecture given by Senior Research Fellow Munenaga for BFA students】|
|【The selection interviews of applicants from the BFA for the Summer Seminar |
for Central Asian and Caucasian Countries】
|April 9 (Mon) to 12 (Thu)：Visiting Beijing, China (signing a memorandum on joint research with DRC and |
exchanging opinions with major Chinese research institutes and others)
PRI and major Chinese research institutes have been engaging in research exchange in the field of economy and finance.
On April 10 in Beijing, PRI and the Macro Economy Department of the Development Research Center of the State Council (DRC) signed a memorandum on joint research for the next 4 years and held a signing ceremony. PRI also visited China’s major research institutes including the Chinese Academy of Fiscal Sciences (CAFS) and the Chinese Academy of Social Sciences (CASS) as well as the research department of the People's Bank of China, the Bank of Japan Representative Office in Beijing, Japanese financial institutions, etc. to exchange opinions on the country’s economic conditions, realities of business development of Japanese financial institutions and other topics.
|【Signing ceremony of the memorandum on joint research with DRC】|
|【Meeting with CAFS】|
|【Opinion exchange with CASS】|
As a comprehensive training agency of the Ministry of Finance, PRI provides training programs for each level in the ministry, from newly hired staff members to top officials.
The Top Seminar for Staff was held as part of the training for executive personnel by inviting lecturers who are active in various fields. The following seminars were held in April.
|April 18 (Wed)|
|“Mental Health in the Workplace – Prevent Mental Disorder and Create a Vigorous Workplace”|
ONO Yutaka (President, Center for the Development of Cognitive Behavior Therapy Training)
|April 26 (Thu)|
|“What We Need for Internationalization of Japan in a World Becoming Turbulent”|
OKAMOTO Yukio (President, Okamoto Associates)
We invite people with diverse knowledge in and outside the organization to hear a broad range of leading-edge information so that we can obtain useful information across a broad spectrum contributing to the ministry's policy planning.
The following meetings were held in April.
|April 11 (Wed)|
|“Current Economic Expansion and Price Forecast”(Japanease only)(PDF:1867KB)|
SHIMAMINE Yoshikiyo (Chief economist, Dai-ichi Life Research Institute)
|April 16 (Mon)|
|“Japan in the Age of a New Balance of Power”(Japanease only)(PDF:815KB)|
MIURA Lully (Assistant Professor, Policy Alternatives Research Institute, The University of Tokyo)
|April 20 (Fri)|
|“Financial Crisis and Market Disruption – From the Experience of the 2008 global financial crisis”(Japanease only)(PDF:3549KB)|
MORISHIMA Kazumasa (Agriculture, Forestry and Fisheries Credit Foundations)
Before publishing a discussion paper, PRI holds a PRI Workshop to discuss its content in the institute.
The following meetings were held in April.
|April 17 (Tue)|
|“Clarification of Target Setting Activities – From Strategy Development to Implementation Process”|
ONISHI Junya (Visiting Scholar, PRI)
TANAKA Hideaki (Senior Visiting Scholar, PRI/Professor, Dean of the Graduate School of Governance Studies, Meiji University)
KASHIWAGI Megumi (Visiting Scholar, PRI/Research Director, The Canon Institute for Global Studies)
FUJINO Masafumi (Professor, College of Economics, College of Economics, Nihon University)
|Fiscal Theory of the Price Level and Unconventional Fiscal and Monetary Policies: Overview (Japanease only)(PDF:1237KB)|
SHIOJI Etsuro, Professor, Department of Economics, Hitotsubashi University
| This paper surveys recent discussions on the fiscal theory of the price level, with the following three purposes in mind. First, we overview basic ideas behind the fiscal theory of the price level. Second, we study new policy proposals made by some economists in Japan recently, which are based on this theory, with the aim of overcoming deflation (or very low inflation) (here, such a policy will be called “unconventional fiscal policy”). We also show the conditions that would justify these recommendations and risks associated with such policies. Thirdly, in relation to the theory, we will survey the current state of theoretical studies on the source of effects of unconventional monetary policies that have been adopted in many developed countries, including Japan, in recent years.|
|Clarification of Target Setting Activities – From Strategy Development to Implementation Process(Japanease only) (PDF:1267KB)|
ONISHI Junya, Visiting Scholar, PRI
| Today, strategy development has become common practice in the public sector, but there are many challenges in the strategy implementation process. From the perspective of improving the strategy implementation process, this paper will clarify and list methodologies including management accounting that can achieve an effect in a short period of time. Each administrative organization is expected to combine various methods in accordance with their respective situation, and to construct a consistent system, while linking goals at the strategy level to those at the operation level. This way, they can link their efforts to operational reforms and respond to the working-style reform.|