Research

Working Papers and Recent papers

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

• "The Japanese Bond Market" Oxford Handbook of the Japanese Economy, accepted in Feb. 2025.

• "Government Debt Maturity and the Term Structure in Japan" (with Yosuke Kimura, Japanese Economic Review, 2025) 

• "Fiscal Projections and Debt Sustainability in Japan" (with M. Katagiri, H. Miyamoto, M. Nirei, and T. Unayama, Asian Economic Policy Review, 2025) 

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

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

• "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)    

Link to Journal Articles