Research interests/expertise

International Finance
Monetary Economics
Macroeconomics

Recent Publications

• Asian Financial Linkage: Macro-Finance Dissonance, (with Koji Takahashi), Pacific Economic Review (accepted)
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• Real Exchange Rate Dynamics Revisited: A Case with Financial Market Imperfections, (with Yuki Teranishi), 2011, Journal of International Money and Finance 30(7)
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• Can News be a Major Source of Aggregate Fluctuations? A Bayesian DSGE Approach, (with Yasuo Hirose and Mototsugu Shintani), 2011, Journal of Money, Credit and Banking 43(1)
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• A Note on Growth Expectation, 2010, Macroeconomic Dynamics 14(2)
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• The Zero Lower Bound and Monetary Policy in a Global Economy: A Simple Analytical Investigation, (with Nao Sudo and Yuki Teranishi), 2010, International Journal of Central Banking 6(1)
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• Dynamic Aspects of Productivity Spillovers, Terms of Trade and The 'Home Market Effects', (with Naohisa Hirakata), 2009, IMF Staff Papers 56(4)
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• A Dynamic New Keynesian Life-Cycle Model: Societal Aging, Demographics, and Monetary Policy,(with Yuki Teranishi), 2008, Journal of Economic Dynamics and Control 32(8)
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• Japanese Monetary Policy during the Collapse of the Bubble Economy: A View from Policy-Making under Uncertainty, (with Naoko Hara, Naohisa Hirakata, Takeshi Kimura, and Shinichiro Watanabe) 2007, Monetary and Economic Studies 25(2)
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• Is there a direct effect of money? Money's role in an estimated monetary business cycle model of the Japanese economy, 2007, Japan and the World Economy 19(3)
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• Evaluating Monetary Policy When Nominal Interest Rates Are Almost Zero, 2006, Journal of the Japanese and International Economies 20(3)
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• Monetary Policy at the Zero Interest Bound: A Model Comparison Exercise, (with Peter McAdam and John Roberts) 2006, Journal of the Japanese and International Economies 20(3)
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• Effectiveness of State Contingent Monetary Policy under the Liquidity Trap, (with Naoko Hara and Kentaro Yoshimura) 2006, Journal of the Japanese and International Economies 20(3)
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• Monetary Policy under the Zero Bound on Interest Rates: What Have We Learned and to What End, (with Naoko Hara, Naohisa Hirakata, Shinichiro Watanabe and Kentaro Yoshimura) 2005, International Finance 8(3)
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• Is the central bank’s publication of economic forecasts influential? 2005, Economics Letters 89(3)
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• The Japanese economic model: JEM, (with Naoko Hara, Yasuo Hirose and Yuki Teranishi) 2004, Monetary and Economic Studies 23 (2)
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• Output composition of the monetary policy transmission mechanism in Japan, 2004, B.E. Journals in Macroeconomics: Topics in Macroeconomics 4 (1)
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• A statistical forecasting method for inflation forecasting: Hitting every VAR and forecasting under model uncertainty, (with Maiko Koga) 2004, Monetary and Economic Studies 22 (1)
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Teaching:

IDEC 8008: Open Economy, Macroeconomics, Finance and Development
IDEC 8012: Monetary Policy and Central Banking in the Asia Pacific