Monetary History Study Group

Monetary History Study Group

Study Group 2020

Monetary History Study Group on

Date:
-
Venue:
Zoom Meeting
Presenters and Subjects:
1. Akira Ehiro (Konan University)
"The Investment in JGB of the Finance Ministry Deposit Bureau in Prewar Japan"
2. Mariko Ito (Heisei International University)
"Postal Savings before and during WWII: Focusing on the relationship with JGB"
3. Kenichi Hirayama (Presenter Tokio Marine Asset Management Co., Ltd.)
"The Wartime JGB Operations by the Bank of Japan and the Finance Ministry Deposit Bureau"

Past Study Groups

Monetary History Study Group on

Date:
-
Venue:
Zoom Webiner
Presenters and Subjects:
1. Naoya Maeda (Kobe Shoin Women's University) and Sadayoshi Takaya (Kansai University)
"An Empirical Study on Policy Process of the Choice for Return to Gold Standard by the U.K in 1920s"
2. Masato Shizume (Waseda University)
"Transition to the Modern Credit Money in Japan: A Case of National Banks"
3. Hiroaki Morota (Yamagata University)
"Chinese Regional Currency and Credit in the early 20th Century"
4. Takeshi Nishimura (Kansai University)
"Restructuring of Monetary and Financial Systems in India during the Inter-War Period"

Monetary History Study Group on

Date:
-
Venue:
Waseda University, Waseda Campus (Room #306, Building #3)
Subjects:
1. Mariko Ito (Heisei International University)
"The emergence and developments of an enhancement mechanism of Postal Savings Program:
viewed from the secondary markets of government bonds"
2. Taku Kinai (Mitsubishi UFJ Research and Consulting)
"How should we think of "Libra"?: Its implication in a historical perspective"

Waseda Institute of Political Economy, the Global Economic History Study Group Workshop (co-hosted by the Center for Positive/Empirical Analysis of Political Economy of the Top Global University Project, Waseda University; Japan Society of Monetary Economics (JSME), Monetary History Study Group on July 3.

Date:
-, July 3, Wednesday
Venue:
Room 306 on the 3rd floor, the 3rd Building, Waseda Campus
Speaker:
Mark Metzler (University of Washington and Waseda University)
Title:
An Outline History of Financial Crises
Abstract:
My outline history of financial crises starts with Joseph Schumpeter's insight that business cycles are intrinsic to and essentially constitutive of the capitalistprocess. To trace the history of business cycles is to trace the history of the core capitalist process itself. Schumpeter, however, viewed bubbles and crashes?crises?as epiphenomenal and non-intrinsic to the capitalist process. Following Schumpeter's ownlogic, I argue rather that crises are the most revealing moments of all. By definition, crises are the moments when critical thresholds are reached. They are the moments when self-reinforcing feedback loops that have begun to generate exponential growth ofclaims to wealth suddenly stop, when structures of wealth and authority collapse, when trends reverse, and when a new tendency replaces the old one. It is enormously productive to begin with such moments. For this, a useful counterpart to Schumpeter is thesemi-popular survey by Charles Kindleberger, Manias, Panics, and Crashes, which aimed for a schematic typology of the phases of a typical crisis. Kindleberger's work thus offers what Schumpeter's work lacked. However, Kindleberger set aside all discussionof the business-cyclic processes of which crises form the signal moments. His study also disavowed chronological order, make the history on which he drew incoherent to most readers. My talk, as a charter statement for a new book project, brings these two approachestogether. It discusses why crises are so productive of insights into the history of capitalism, explores the geographical location of crises within long-distance networks, and sketches a chronology of the earliest well documented crises. These go back at leastseven centuries, to the time international capitalist networks were first taking form.

Hosted by Waseda Institute of Political Economy (WINPEC), Global Economic History Study Group(organizer; Prof. Masato Shizume)

Co-hosted by the Center for Positive/Empirical Analysis of Political Economy of the Top Global University Project, Waseda University; Japan Society of Monetary Economics (JSME), Monetary History Study Group

Monetary History Study Group on

Date:
-
Venue:
Waseda University, Waseda Campus (Room #701, Building #3)
Subjects:
1. Ayumu Sugawara (Tohoku University)
"International Financial Centres and Japan in the 1960s: Cases of Bank Lending"
2. Yoshio Asai (Professor Emeritus, Seijo University)
"Interest Equalization Tax Negotiations and the World Bank Loans to Japan in the 1960s"
3. Discussion
 
4. Comments
Masanao Itoh (Otsuma Women's University)
Masayoshi Tsurumi (Professor Emeritus, Hosei University)
Chair Kazuhiko Yago (Waseda University)

Economic History Seminar on

Co-Hosted by Waseda Institute of Political Economy (WINPEC)
and Financial History Group of Japan Society of Monetary Economics (JSME)

We are honored to host a seminar by Professor Hugh Rockoff (Rutgers University; President-Elect, 2019-2020, Economic History Association) on Wednesday, March 20, 2019. Everybody who are interested in the issue are welcome. Please sign up now!

Date:
-
Venue:
Room 909 (9th floor), Building 3, Waseda Campus, Waseda University
Presenter:
Hugh Rockoff, Distinguished Professor of Economics, Rutgers University
Subjects:
On the Controversies behind the Origins of the Federal Economic Statistics
Abstract:
Although attempts to measure trends in prices, output, and employment can be traced back for centuries, in the main the origins of the U.S. federal statistics are to be found in bitter debates over economic policy, ultimately debates over the distribution of income, at the end of the nineteenth century and during the world wars and Great Depression. Participants in those debates hoped that statistics that were widely accepted as nonpolitical and accurate would prove that their grievances were just and provide support for the policies they advocated. Economists – including luminaries such as Irving Fisher, Wesley C. Mitchell, and Simon Kuznets – responded by developing the methodology for computing index numbers and estimates of national income. Initially, individuals and private organizations provided these statistics, but by the end of WWII the federal government had taken over the role. Here I briefly describe the cases of prices, GDP, and unemployment.

If you have any inquiries, please mail to: masato.shizumewaseda.jp

Monetary History Study Group on

Date:
-
Venue:
Waseda University, Waseda Campus (Room #701, Building #3)
Subjects:
1. Kenichi Hirayama (Tokio Marine Asset Management Co.,Ltd.)
"Bank of Japan’s JGB Operations after 1936 - The Transaction with Repurchase Agreements and Outright Purchases"
2. Siu Man-Han (Adjunct lecturer, Osaka University of Economics)
Banking between Hong Kong and Mainland China(1945-2018): the development of mainland banks in Hong Kong"
3. Kazuhiko Yago (Waseda University)
"Recent Studies in Chinese and Korean Financial History: referring to the works by Tomoko Shiroyama and Lee Myunghwi"