Deep Dive Series 2021
INFLATION: "Transitory" Phenomenon or Long Term Threat?
8:30-10:00 am, Friday, December 10, 2021
(The speech and Q & A will be in English.)
Research Fellow at Harvard Kennedy School's Mossavar-Rahmani Center
Japan Chief Economist, Credit Suisse Securities (Japan)
Expert Director to Japan-based Monex Group and an Investment Committee member of the Japan Catalyst Fund
Over the past couple of decades inflation appeared to have been tamed to the point where it no longer presented any threat, and policymakers in Japan have been far more concerned about deflation. Now, however, inflation is running hot again in the US, Europe and elsewhere while many economists are coming round to the view that rising prices are not just a "transitory" phenomenon but will persist into 2022 and maybe even for several years.
The implications for prices, wages, and employment as well as for financial markets are sobering. The Institute of International Finance in Washington has spoken even of an "inflation perfect storm" on the horizon. Deep Dive has invited several prominent economic experts to assess the inflation outlook in Japan and in other leading economies of the world for next year and beyond.
PAUL SHEARD is a Research Fellow at the Harvard Kennedy School and was, formerly Vice Chairman of S&P Global and earlier Chief Economist at Standard & Poor's, Nomura Securities and Lehman Brothers in Japan. Sheard is a member of the World Economic Forum’s Global Future Council on the New Agenda for Fiscal and Monetary Policy, a board member of the Foreign Policy Association, and a member of the Bretton Woods Committee and the Economic Club of New York.
HIROMICHI SHIRAKAWA joined Credit Suisse Securities (Japan) Limited in April 2006 as Managing Director and Head of Economics for Japan. In June 2017, Shirakawa was appointed Vice Chairman of Credit Suisse Securities Japan Limited. Mr. Shirakawa began his professional career at the Bank of Japan in 1983, where he spent around 16 years, mainly in charge of research and analysis of money and credit markets. He was a special assistant to the governor in 1997-1998 when Japan was in the middle of a banking crisis. From 1991 to 1994, he was a senior economist at the Organization for Economic Co-operation and Development (OECD) in Paris. From November 1999 to March 2006 he was Chief Economist at UBS Securities Japan.
JESPER KOLL worked from 1985 as a research fellow at the University of Tokyo and the University of Kyoto before building his career in finance. He served as a Managing Director and Chief Economist for major US investment banks, JP Morgan Japan Securities and Merrill Lynch Japan Securities. He is an Expert Director at Japan-based Monex Group, an Investment Committee member of the Japan Catalyst Fund, and serves on the Board of Directors of OIST the Okinawa Institute of Science and Technology.
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