Research


Refereed Publication


1. "Trend inflation and exchange rate dynamics: a New Keynesian approach," Journal of International Money and Finance., 146C, 2024, 103128.

2. "The price of distance: pricing to market, producer heterogeneity, and geographic barriers" (with Kazuko Kano and Kazutaka Takechi), Journal of Economic Geography, 2022, 22, 873-899.

3. "Exchange rates and fundamentals: a general equilibrium exploration," Journal of Money, Credit, and Banking , 2021, 53, 95-117.

4. "The first arrow hitting the currency target: a long-run risk perspective" (with Kenji Wada), Journal of International Money and Finance , 2017, 74, 337-352.

5. "An equilibrium foundation of the Soros chart" (with Hiroshi Morita), Journal of the Japanese and International Economies, 2015, 37, 21-42.

6. "Business cycle implications of internal consumption habit for new Keynesian models" (with Jim Nason), Journal of Money, Credit, and Banking, 2014, 46, 519-544.

7. "Multilateral adjustment, regime switching and real exchange rate dynamics" (with Jeannine Bailliu, Ali Dib, and Larry Schembri), North American Journal of Economics and Finance, 2014, 27, 68-87.

8. "Exaggerated death of distance: revisiting distance effects on regional price dispersions" (with Kazuko Kano and Kazutaka Takechi), Journal of International Economics, 2013, 90, 403-413.

9. "Habit formation and the present-value model of the current account: yet another suspect", Journal of International Economics, 2009, 78, 72-85 (the working paper version here).

10. "Tests of the present-value model of the current account: a note" (with Hafedh Bouakez), Applied Economics Letters, 2009,16,1215-1219.

11. "A structural VAR approach to the intertemporal model of the current account", Journal of International Money and Finance, 2008, 27, 757-779.

12. "Terms of trade and current account fluctuations: the Harbergar-Laursen-Metzler effect revisited" (with Hafedh Bouakez), Journal of Macroeconomics, 2008, 30, 260-281.

13. "Learning-by-doing or habit formation?" (with Hafedh Bouakez), Review of Economic Dynamics, 2006, 9(3), 508-524.

14. "International price linkage within a region: the case of East Asia" (with Shin-ichi Fukuda), Journal of the Japanese and International Economies, 1997, 11(4), 643-666.



Contribution to Edited Volume


1. "Terms of trade and current account fluctuations: evidence from Canada" (with Hafedh Bouakez), in Canada in the Global Economy: proceedings of the 13th annual economic conference of the Bank of Canada, 2005, the Bank of Canada.



Completed Working Papers


1. "Deciphering the Neo-Fisherian effect," (with Hafedh Bouakez),, Hitotsubashi Institute for Advanced Study Discussion Paper HIAS-E-140, Hitotsubashi University, June 2024.

2. "Posterior inferences on incomplete structural models: the minimal econometric interpretation," , Hitotsubashi Institute for Advanced Study Discussion Paper HIAS-E-128, Hitotsubashi University, March 2023.

3. "Welfare costs of exchange rate fluctuations: evidence from the 1972 Okinawa reversion," (with Kazuko Kano), Center for International Research on the Japanese Economy Discussion Paper F-1179, University of Tokyo, November 2021.

4. "Appendix: business cycle implications of internal consumption habit for new Keynesian models" (with Jim Nason), Discussion Paper Series 2012-08, Graduate School of Economics, Hitotsubashi University, November 2012.

5. "The Euro and trade: is there a positive effect?" (with Tamara Gomes, Chris Graham, John Helliwell, John Murray, Larry Schembri), August 2006.



Work in Progress


1. "Consumer inventory,'' (with Kazuko Kano).