Tokyo College Event: “Intangibles, Inequality, and Prolonged Stagnation” Lecture by Prof. KIYOTAKI Nobuhiro

July 27, 2022


Type Lecture
Intended for General public / Enrolled students / Applying students / International students / Alumni / Companies / High school students / University students / Academic and Administrative Staff
Date(s) August 24, 2022 15:00 — 16:30
Location Online
Venue Zoom Webinar
Entrance Fee No charge
Registration Method Advance registration required
Registration Period July 27, 2022 — August 24, 2022


In this webinar, Prof. Kiyotaki discusses how production and income distribution interact with accumulation of intangible capital over time and across individuals. He constructs an economic model in which the younger generation acquires and accumulates intangible capital through the on-the-job training. He shows that, although the development of mid-career labor markets improves the match between firms and workers, such development may increase inequality and lead to long-term stagnation. In response, he will examine the effects of policies that promote basic education and the acquisition of skills outside of firms.


Lecture: KIYOTAKI Nobuhiro (The Harold H. Helm 1920 Professor of Economics and Banking at Princeton University)
Comment: HOSHI Takeo (Dean and Professor, Graduate School of Economics, The University of Tokyo)
Q&A Facilitator: AOKI Kosuke (Professor, Graduate School of Economics, The University of Tokyo)

Speaker Profile

KIYOTAKI Nobuhiro is the Harold H. Helm 1920 Professor of Economics and Banking at Princeton University. His research focuses on monetary economics and macroeconomics. He proposed the Kiyotaki-Moore model with economist John Moore in 1997. This model attracted attention as a theory to explain the collapse of Japan’s bubble economy, and was supported by the subprime loan problem and the Lehman shock. He was awarded the Nakahara Prize by the Japan Economic Association in 1997 and was named a Person of Cultural Merit in 2008.
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