Author Affiliation

Dr. Naoyuki Yoshino is Professor of Economics at Keio University. He is a Policy Board Member of Japan's Deposit Insurance Corporation, Chairperson of Banks' Stock Acquisition Corporation, JGB Council and Foreign Exchange council of the MOF, and Vice President of the Japan Association of Financial Planning. Since 2003, he has also been Director of the Financial
Research and Training Center, Financial Services Agency.He obtained a Ph. D. in Economics fron Johns Hopkins University in 1979.

Mr. Shigetomi Inukai is Senior Fellow at the National Institute for Research Advancement (NIRA). He graduated from Keio University in 1975, and joined Mitsubishi Corporation. In 2002 he completed the Harvard Business School Advanced Management Program(AMP). For 18 years he was employed in the Finance Department of Mitsubishi Corporation. He is Secretary-General of the Japan Capital Markets Association. In June 2002, he was dispatched from Mitsubishi Corporation to take up his present position. Since 2004 he has been Visiting Profrssor at Waseda University.

Mr. Nobusuke Tamaki is Senior Researcher at the National Institute for Research Advancement (NIRA). He graduated from Faculty of economics, Tokyo University, in 1979 and joined the Bank of Japan. He obtained an M.Sc. in Economics from London School of Economics and Political Science, the University of London in 1983. In June 2001, he was dispatched from the Bank of Japan to take up his present position. From 2002 to 2004, he was a lecturer at Saitama University.