The Research Center for Economic and Social Risks was established in May 2014 within the Institute of Economic Research (IER). The Center's primary mission is to conduct research on risks facing the Japanese economy, including risks associated with prices, financial systems, labor markets, and public finance. The Center is a direct result of previous large-scale research projects conducted at the Global Center of Excellence (G-COE) and the IER on price dynamics, industry and financial networks, productivity measurement. In addition to the abovementioned topics, the Center is tackling several new topics such as uncertainties in labor markets and public finance. The Center's second mission is to provide practical real-world training, transcending traditional academic study, to young researchers. We plan to collaborate with several governmental ministries, research companies, and nonprofit organizations to conduct joint research and offer opportunities to young researchers for on-the-job training. Drawing on the results of empirical studies, we will derive useful policy implications regarding potential future risks to the Japanese economy.