In Memory of SIPA Professor Takatoshi “Taka” Ito

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It is with profound sadness that Columbia SIPA announces the passing of our distinguished colleague, Professor Takatoshi “Taka” Ito. A leading economist, devoted teacher, and generous mentor, Taka’s scholarship and character left an indelible mark on SIPA and the wider community at Columbia.

Professor Ito joined SIPA in 2015, teaching and advising students in international finance, macroeconomics, and the Japanese economy. He also strengthened Columbia’s academic offerings on global finance through his leadership of the Center on Japanese Economy and Business (CJEB) at Columbia Business School, including directing its Program on Public Pension and Sovereign Funds, and through convening path-breaking conversations on central banking. Under his leadership, for example, SIPA hosted former Bank of Japan Governor Haruhiko Kuroda in 2023, just ten days after Kuroda’s resignation – a testament to Taka’s stature in both academic and policy communities.

Beyond academia, Professor Ito had a distinguished public service record: he served as Japan’s Deputy Vice Minister for International Affairs at the Ministry of Finance, and as a member of the Prime Minister’s Council on Economic and Fiscal Policy. In 2024, the government of Japan awarded him the Order of the Sacred Treasure (Gold Rays with Neck Ribbon), recognizing his lifetime contributions. He previously served as professor and dean at the Graduate School of Public Policy (GraSPP), University of Tokyo.

“Taka brought the world into our classrooms. He combined academic rigor with real-world insight, and he did so with warmth and humility,” said SIPA Dean Keren Yarhi-Milo. “We will all miss his keen mind, his deep commitment to public service, and his unwavering dedication to our students and to Columbia.”

SIPA Dean Emerita Merit Janow remembers working closely with Professor Ito long before recruiting him to teach at Columbia in 2015. 

“I had the privilege of knowing him and working with him for over thirty years. When he joined our faculty after his remarkable career at Japan’s leading universities and his tenure as dean of Tokyo University’s School of Public Policy, we knew we were incredibly fortunate,” she said. “He enriched our academic community with his expertise and unwavering generosity of spirit.”

“Professor Ito embodied everything we hope for in a colleague. His scholarly brilliance was matched only by his genuine care for his students and his enthusiasm for his work. Whether he was teaching graduate courses on the Japanese economy and Asian financial markets, sharing his insights through his writings and public commentary, or bringing together experts and policymakers through the conferences he organized in New York and Japan, he approached everything with remarkable energy and outstanding expertise,” Janow said. “The academic world has lost a giant, but we have lost a treasured colleague.”

The Center on Japanese Economy and Business, directed by Professor David Weinstein, was a vital reason for Professor Ito’s decision to come to Columbia in 2015.

“Taka was a giant in the field of international macroeconomics,” said Weinstein, the Carl S. Shoup Professor of the Japanese Economy. “He authored the definitive book on the Japanese economy that trained generations of students and scholars. His contributions to our understanding of Japan’s economy and to policy earned him two imperial medals: the National Medal with Purple Ribbon and the Order of the Sacred Treasure, Gold Rays with Neck Ribbon.” 

He added: “However, I will remember him most as a mentor, good friend, and colleague throughout my entire academic career. He was a gentleman and a scholar, and he will be sorely missed at Columbia and in the world of economics.”

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Following are additional remembrances of Takatoshi Ito from selected colleagues at SIPA:

Since joining SIPA in 2015, he was a cornerstone of our concentration—an extraordinary teacher, mentor, distinguished scholar, and a cherished colleague. A leading expert in international macroeconomics, he shaped debates on monetary and exchange rate policy during periods of financial instability, influenced policy worldwide, and inspired his colleagues with his insight and generosity. Equally dedicated to his students, he always made time to guide, encourage, and challenge them, leaving a lasting impression on their growth and confidence. We will remember Taka with deep admiration and gratitude—his legacy of scholarship, mentorship, kindness, and generosity will continue to guide and inspire us.

— Andrea Bubula, senior lecturer in the discipline of international and public affairs, and Alan Taylor, professor of international and public affairs
 

I am deeply, deeply saddened to learn of Taka's passing. I met Taka more than 40 years ago in the Harvard PhD program and we have been good friends and professional colleagues since then. Taka was one of the world-leading authorities on the Japanese economy and financial system, and was both a policymaker and trusted policy advisor over the years to the Japanese government. Taka did pioneering research on the empirics of exchange rate fluctuations that is still widely cited today. Since joining SIPA he has been an invaluable member of our faculty and community of scholars, and will be sorely missed.

— Richard Clarida, C. Lowell Harriss Professor of Economics and Professor of International and Public Affairs

Taka was my closest professional colleague at SIPA. Our interests had many overlaps: macro and financial policy, central banking, Japan and Asia, policies to improve financial and economic stability. But perhaps the most fun were the alumni and student recruitment events we did together and where we got to air the difference in our policy views. We cosponsored many events, but the most memorable was our COVID (Fall 2020) webinar series on central bank policies featuring central bank governors, academics, and policy experts from around the world. Some sessions covered COVID directly, but most looked to the future (at Taka’s suggestion): central bank digital currencies, deglobalization, the role of the US dollar, medium-term impact of debt overhang and loose monetary policy. He was a first-class scholar, but also a practical and inventive policy advisor and designer (Abe’s Three Arrows). On top of all that, Taka was a lovely, engaging person. I will miss him immensely.

— Patricia Mosser, Director, Central Banking and Financial Policy, Special Research Scholar