Research

Working Papers and Work in Progress 

• "Forward Guidance and its Effectiveness: A Macro-Finance Shadow-Rate Framework" (with Bin Wei)

• "Yield Curve Control in Japan" (with Bin Wei)

• "A Preferred Habitat View of Yield Curve Control" (with Yoichi Ueno)

• "Quantifying Forward Guidance and Yield Curve Control" (with Bin Wei)

• "Government Debt Maturity and the Term Structure in Japan" (with Yosuke Kimura) Previously circulated as "Government Debt Maturity in Japan: 1965 to the Present" 

• "Macroeconomic Environments and Debt Management Risk: a Comparison between COVID-19 and Lehman Periods" (in Japanese)   

• "Model-based Estimation of Sovereign Default" (with I. Gumus, under revision)    

Selected Publications in the Last Five Years

• "Debt Management Policy and Maturity Structure" in "the analysis of government debt and debt management" (2021, in Japanese)

• "Nelson-Siegel Decay Factor and Term Premia in Japan" (with Atsushi Sekine, JJIE, 2022)     

• "Exiting from QE" (with Fumio Hayashi, Quantitative Economics, 2019)  

• "Macroeconomic effects of quantitative and qualitative monetary easing measures" (JJIE, 2019)

Link to Journal Articles