Work in Progress

Work in Progress


Asset Purchasing

・Bank of Japan’s ETF Purchase Program and Equity Risk Premium: A CAPM Interpretation (with M. Katagiri and J. Shino). 2022. BIS Working Paper. Submitted.

・To Lend or Not to Lend: the Bank of Japan’s ETF purchase program and securities lending  (with M. Katagiri and J. Shino) 2023. BIS Working paper.  (Previously circulated as "Bank of Japan’s ETF purchase program and the share lending market"), Submitted.

     -- Financial Times (7.8.2023),     Financial Times (16.10.2023.)

・Risk-Taking Channel of Unconventional Monetary Policies in Bank Lending. (Appendix), (with Nakashima, K. and Shibamoto, M.).  2019.

Inflation 

・Markups and the asymmetric pass-through of cost push shocks. 2023. BIS Working Paper. 

・ TIPS: The Trend Inflation Projection System and Estimation Results . 2016. Bank of Japan Working Paper Series. 

Negative Interest Rate Policy

・Real Effects of Negative Interest Rates: Micro-Evidence from Japan. (Nakashima, K. ), 2020.


・ Mutual funds and climate news  (with G.  Cornelli, L. Gambacorta, and T. Oliviero).

・ The Road to Net-zero: A Mutual Fund Flow Investigation (with L. Chen ).

・ Climate news and cross-border lending (with M. J. A. Gravito and D. Igan ).

・ How much do firms need to satisfy employees?  Evidence from credit spreads and online employee reviews (with S. Takaoka)  2023. BIS Working Paper.

・ Greenhouse Gas Emissions and Bank Lending (with J. Shino) 2023. BIS Working Paper. 


・Generative AI for Surveys on Payment Apps: AI's view on Privacy and Technology (with J. S. Park)

・R&D and Innovation: Evidence from Patent Data  (with Y. Oh), 2020.  Bank of Japan Working Paper Series.


・Development of "Alternative Data Consumption Index": Nowcasting Private Consumption Using Alternative Data (with T. Okubo, Inatsugu, H., and Takahashi, M.), 2022.  Bank of Japan Working Paper Series, R&R requested.


・Financial Interconnectedness, Amplification, and Cross-BorderActivity (with Ikeda, D. and Ojima, M.) 2019.  Bank of Japan Working Paper Series.

・ The Emergence of a Parallel World: The Misperception Problem for Bank Balance Sheet Risk and Lending Behavior (with Nakashima, K. ).

・ Bank Loan Supply Shocks and the Real Economy: The case of Japan. 2016.  

・ Nakashima, K. and Takahashi, K., 2016. Comment on Peek and Rosengren (2005) 'Unnatural Selection: Perverse Incentives and the Allocation of Credit in Japan'.