Charles Horioka facts for kids

Charles Yuji Horioka was born on September 7, 1956, in Boston, Massachusetts. He is a Japanese-American economist who lives in Japan. An economist is someone who studies how people and countries make choices about money and resources.

Mr. Horioka earned his college degrees, including his Ph.D., from Harvard University. He is now a Research Professor at Kobe University in Japan. He also holds important research positions at other institutes.

He has taught at many famous universities around the world. These include Stanford University, Columbia University, and Kyoto University. He has also led several important economic organizations. For example, he was President of the Japanese Economic Association from 2023 to 2024.

What Does an Economist Do?

An economist studies how societies use their resources. They look at things like how people save money or how countries trade with each other. Their work helps governments and businesses make smart decisions.

Understanding Macroeconomics

One of Mr. Horioka's main areas of study is macroeconomics. This part of economics looks at the big picture. It studies how entire economies work, including things like national income, unemployment, and inflation.

Household and Family Economics

He also specializes in household and family economics. This field focuses on how families make financial decisions. It explores topics like how households save money, spend it, or pass it on to their children.

The Feldstein–Horioka Puzzle

One of Charles Horioka's most famous discoveries is called the Feldstein–Horioka puzzle. He found this with another economist, Martin Feldstein, in 1980.

What the Puzzle Is About

They noticed something interesting about how countries save and invest money. They found that countries that save a lot of money also tend to invest a lot within their own borders. This might seem obvious, but it was a puzzle for economists.

Why It Was a Puzzle

Economists expected that money would flow easily between countries. If a country had lots of savings, it could invest that money anywhere in the world. But Feldstein and Horioka showed that most savings stayed within the country. This finding changed how people thought about international finance.

Awards and Recognition

Charles Horioka has received many honors for his work. These awards show how important his contributions are to economics.

The Nakahara Prize

In 2001, he was given the Nakahara Prize. This is a very important award in Japan for economists. It is given to the best Japanese economist aged 45 or younger. It is similar to the John Bates Clark Medal in the United States.

His Impact on Economics

Mr. Horioka is considered one of the top economists living in Japan. His research has been cited, or mentioned, by other researchers many thousands of times. This shows how much his work has influenced the field of economics.

References

• Biographic Notes – Information about Charles Horioka from Osaka University.
• Saving and Investment in the Long Run – An article about saving and investment.