Tumultuous Times: Central Banking in an Era of Crisis by Masaaki Shirakawa

PART 1
Career Building at the
Bank of Japan

| CHAPTER ONE |
Starting My Career
I joined the Bank of Japan in 1972, and I spent the next
thirty-nine years learning from many gifted and thoughtful
colleagues. Early in one’s career it is important to learn how
to do one’s job. I tried to give due regard to economic
theory, to learn from others in the field, to focus 
accomplishing the bank’s mission through its operations,
and to appreciate the global context and respect our
relations with other central banks. Each of these lessons
influenced me when I later became the bank’s governo
MY ENCOUNTER WITH ECONOMICS
In March 1972, I received a bachelor’s degree in economics
from the University of Tokyo, and I joined the Bank of Japan
on April 1 as one of thirty university graduates hired that
year. When I was considering where I would work after
finishing my degree, a general aspiration to perform so
public service with my economics training led me to the
bank.
My focus on economics had, however, happened
completely by chance. When I was admitted to the
university in April 1968, I enrolled in a course for
prospective law students. It was a time of student unrest,
and for eight months, from June 1968 until February 1969,
there were no classes. With nothing else to do, a classmate

Tumultuous Times: Central Banking in an Era of Crisis by Masaaki Shirakawa