Earlier this summer, the Louis A. Simpson Center for the Study of Macroeconomics held a conference in honor of Nobuhiro Kiyotaki and his incredible career in economics. Kiyotaki is the Harold H. Helms ’20 Professor of Economics and Banking at Princeton University and an affiliated faculty member of the Simpson Center, the Bendheim Center for Finance, and the International Economics Section.

The conference coincided with his 70th birthday and was attended by Kiyotaki’s family and current and former colleagues, teachers, and students, from around the world—many travelling great distances to celebrate his work and his impact on their lives and careers.

Following the conference, Gianluca Violante, Princeton’s Theodore A. Wells ’29 Professor of Economics, shared, “It was a truly memorable event celebrating Nobu’s exceptional scholarship, which brought together colleagues, coauthors, students, and friends—and culminated in a brilliantly funny yet heartfelt tribute by John Moore.”

Mark Aguiar, Princeton’s Walker Professor of Economics and International Finance and the Economics Department Acting Chair said, “Nobu is one of the most influential economists of his generation. He is the rare talent who has written seminal articles that launched multiple literatures, from New Keynesian economics to money/search to macro/finance. Given his success, it is remarkable how humble he remains. Nobu is also generous with his time, both with colleagues and students. Nobu’s birthday conference was our way of showing how grateful we all are for Nobu, whether as a colleague, advisor, or co-author.”

Organized by Kosuke Aoki of the University of Tokyo and Alex Michaelides of the Imperial College London, the conference took place over two days and included lectures on topics ranging from monetary economics and macroeconomics to e-money and the origin of risk. 

Reflecting on the celebratory weekend, Kiyotaki shared, “I was pleased to see so many of my former and current students, colleagues, and teachers. I feel very fortunate to have had a hand in teaching so many excellent students over my career.” He continued, “I still do not have satisfactory answers to so many important questions in economics, and I look forward to continuing my inquiry into the mystery of the decentralized economy.”

“Nobu is a wonderful role model of a true scholar. He shows us that thinking deeply and rigorously can lead to key insights that change how we think about important real world issues. The conference was a wonderful tribute to his influence on the profession and it was such a joy to hear so many individuals express their gratitude for his intellectual leadership, mentoring and friendship,” said Richard Rogerson, the Charles and Marie Robertson Professor of Public and International Affairs at Princeton University.

About Nobuhiro Kiyotaki

After receiving a B.A. from University of Tokyo in 1978 and his doctorate in economics from Harvard University in 1985, Nobuhiro Kiyotaki held faculty positions at the University of Wisconsin–Madison, the University of Minnesota, and the London School of Economics before continuing his career at Princeton in 2006. He was named the Harold H. Helm ’20 Professor of Economics and Banking in 2012.

Kiyotaki is a fellow of the Econometric Society, was awarded the Nakahara Prize of the Japan Economics Association in 1997 and the Yrjö Jahnsson Award of the European Economic Association in 1999. He has been a Fellow of the British Academy (FBA), the United Kingdom’s national academy for the humanities and social sciences since 2003. Kiyotaki is also a fellow of the European Economic Association. Thomson Reuters lists Kiyotaki among the ‘citation laureates’ who are likely future winners of the Nobel Prize in Economics.

Kiyotaki also received the Stephen A. Ross Prize in Financial Economics together with John Moore. In 2020 he was awarded the BBVA Foundation Frontiers of Knowledge Award in the category “Economics, Finance and Management.”

His most recent published paper with Alexander Michaelides and Kalin Nikolov, “Housing, Distribution and Welfare,” was published in Journal of Money, Credit and Banking in 2024 (56(5), 981-1020). For more details on Kiyotaki’s research, visit his website.

Photos from the Conference

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