Working Papers
New! Exchange Rate Transmission through Multinational Firms: Evidence from Japan (with Ryan Kim, Hyunseung Oh and Choongryul Yang), August 2026
Appendix | FRB-IFDP
"Outward Foreign Direct Investment and Domestic Female Employment: Evidence from Korea" (with Jie Liu), SSRN Working Paper No. 7109518, 2026.
"Overseas Expansion of Japanese Firms and Domestic Women's Active Engagement" (with Ayako Obashi and Ting Yin), RIETI Discussion Paper 25-E-109, 2025.
"The Effect of COVID-19 on Firms' Behavior - The Case of Japan" (with Yuting Chen), ERIA Discussion Paper Series, ERIA-DP-2023-34, No. 506, 2024.
Work in Progress
"The China-U.S. Trade Shock and Multinationals' Adjustment: Evidence from Japan"
"Real Effects of a Permanent Repatriation Tax Cut: Evidence from Japan" (with Yang Jiao and Sakai Ando)
"Identifying Profit-shifting Channels: Evidence from Japanese Multinationals" (with Hayato Kato and Yuting Chen)
Publications and Forthcoming Papers
"When Free Trade Agreement Meets Competition: The Impact of the EU-Korea FTA on Japanese Firms' Investment Behavior" (with Miho Komatsu), The International Economy, 2025, Vol. 27: 52-68. [Kojima Kiyoshi Prize 2025]
"Macroeconomic Shocks and Firms' Overseas Expansion: Evidence from the Factor-Augmented VAR Approach" (with Hiroshi Morita and Shota Araki), Journal of International Economic Studies, 2024, Vol. 38: 23-34.
"Does It Matter Where You Invest? The Impact of FDI on Domestic Job Creation and Destruction" (with Hayato Kato and Yang Liu), The World Economy, 2022, Vol. 46(1): 135-152.
"Robotics Technology and Firm-level Employment Adjustment in Japan" (with Ayako Obashi), Japan and the World Economy, 2021, Vol. 57, 101054.
"Do Vertical Spillovers Differ by Investors' Productivity? Theory and Evidence from Vietnam" (with Hayato Kato), Review of Development Economics, 2020, Vol. 24(3): 1046-1072.
"Minimum Wage, Export and Firm Performance: Case from Indonesia" (with Kyosuke Kurita), Journal of Asian Economics, 2020, Vol. 69.
"Productivity, Capital Intensity and ISO14001 Adoption: Theory and Evidence from Vietnam", Review of Development Economics, 2019, Vol. 23(1): 395-414.
"Does ISO14001 Raise Firms' Awareness of Environmental Protection? Case from Vietnam" (with Tsunehiro Otsuki, Hanae Tamechika and Keiichiro Honda), Environment and Development Economics, 2019, Vol. 24(1): 47-66.
"The Origin of FDI and Domestic Firms' Productivity - Evidence from Vietnam" (with Mariana Spatareanu, Vlad Manole, Tsunehiro Otsuki and Hiroyuki Yamada), Journal of Asian Economics, 2017, Vol. 52: 56-76.
"How Effective Are Investment Promotion Agencies? Evidence from China" (with Yasuyuki Todo and Tomohiko Inui), The Japanese Economic Review, 2017, Vol. 68(2): 232-243.