Masayuki  Otaki Author of Evaluating Organization Development

Masayuki Otaki

Professor of Economics
The institute of social sciences, Univeristy of Tokyo

My specialization is macroeconomic theory. I have developed a new theory of Keynesian economics. The theory entirely excludes menu cost and money in utility function assumption, and summarized in a book published by Springer (2015). This Routledge book (2015) is an application of the theory to contemporary Japanese economy. The prominent proposition is that the advance in disinflation owes to the radical QE policy, because increase in money supply requires higher rate of return for money.


Besides macroeconomic theory, I am fascinated with developing a theory of environmental economics, especially the global warming problem. This problem ranges across generations because the emissions of carbon dioxide partly remains in the atmosphere over time. Accordingly, one cannot avoid the inter-generational comparison of utility. This problem is equivalent to search the optimal social discount rate that is consistent with an ethic rooted in utilitarianism.


    Buchelor of Economics, The University of Tokyo, Tokyo, 1981
    Philosophy of Doctor, The University of Tokyo, Tokyo, 1990

Areas of Research / Professional Expertise

    Macroeconomic Theory; Environmental Economic Theory; Educational Economics; Economic Thought

Personal Interests

    Mountain climbing; Skiing; Reading; Classic Music


Featured Title
 Featured Title - Origin Prolonged Economic Stagnation Japan: Otaki - 1st Edition book cover