Institute of Economic Research Hitotsubashi University

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WATANABE, Tsutomu (Professor)

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Institute of Economic Research Hitotsubashi University

2-1 Naka, Kunitachi City,
Tokyo 186-8603, JAPAN

Tel +81 42 580 8327

Fax +81 42 580 8333

Papers and Publications

[Refereed Publications]

[1] "Fiscal Policy Switching in Japan, the U.S., and the U.K.," (with A. Ito and T. Yabu) Journal of the Japanese and International Economies, forthcoming.

[2] "On the Nonstationarity of the Exchange Rate Process," (with T. Ohnishi, H. Takayasu, T. Ito, Y. Hashimoto, M. Takayasu) International Review of Financial Analysis, forthcoming.

[3] "A New Method for Specifying Functional Forms of Production Functions," (with T. Mizuno, A. Ishikawa, S. Fujimoto), The Economic Review, forthcoming.

[4] "Closely Competing Firms and Price Adjustment: Some Findings from an Online Marketplace," (with T. Mizuno, M. Nirei) Scandinavian Journal of Economics, Volume 112, Issue 4, December 2010, 673-696.

[5] "Housing Prices in Tokyo: A Comparison of Hedonic and Repeat-Sales Measures," (with C. Shimizu, K.G. Nishimura) Journal of Economics
and Statistics, Volume 230, Issue 6, Special issue on "Index Theory and Price Statistics" edited by Erwin Diewert and Peter von der Lippe, December 2010, 792-813.

[6] "Collective Purchase Behavior toward Retail Price Changes," (with H. Ueno, H. Takayasu, M. Takayasu) Physica A, Volume 390, Issue 3, February 2011, 499-504.

[7] "Firm Age and the Evolution of Borrowing Costs: Evidence from Japanese Small Firms," (with K. Sakai, I. Uesugi) Journal of Banking and Finance, Vol. 34, No.8, August 2010, 1970-1981.

[8] "Residential Rents and Price Rigidity: Micro Structure and Macro Consequences," (with C. Shimizu, K.G. Nishimura) Journal of the Japanese and International Economies, Volume 24, Issue 2, June 2010, 282-299.

[9] "A Statistical Analysis of Product Prices in Online Markets," (with T. Mizuno) European Physical Journal B, Vol. 76, No.4, August 2010, 501-506.

[10] "The Bursting of Housing Bubble as Jamming Phase Transition," (with K. Nishinari, M. Iwamura, Y. Saito) Journal of Physics: Conference Series, Volume 221, 012006, June 25, 2010.

[11] "The Firm as a Bundle of Barcodes," (with K. Sakai) European Physical Journal B, Vol. 76, No.4, August 2010, 507-512.

[12] "Random Walk or A Run: Market Microstructure Analysis of the Foreign Exchange Rate Movements based on Conditional Probability," (with Y. Hashimoto, T. Ito, T. Ohnishi, M. Takayasu, H. Takayasu) Quantitative Finance, 13 December 2010.

[13] "Life-span Distributions of Supermarket Products," (with H. Ueno, M. Takayasu) Journal of Physics: Conference Series, Volume 221, 012018,
June 25, 2010.

[14] "Measuring Nominal and Real Rigidities of Prices: Some Methodological Issues," (with T. Mizuno, Y. Saito) The Economic Review, Vol. 61, No. 1, January 2010, 68-81.

[15] "Dynamics of Quote and Deal Prices in the Foreign Exchange Market," (with T. Ohnishi, H. Takayasu, T. Ito, Y. Hashimoto, M. Takayasu) Journal of Economic Interaction and Coordination, Volume 3, Number 1, June 2008, 99-106.

[16] "Why the Law of One Price Does Not Hold? Evidence from a Japanese Price Comparison Site," The Economic Review, Vol. 59, No. 4, October 2008, 317-329.

[17] "Stickiness in Producer and Consumer Prices --Investigation through Survey and Scanner Data--" The Economic Review, Vol. 59, No. 4, October 2008, 305-316.

[18] "Do Larger Firms Have More Interfirm Relationships?" (with Y. Saito, M. Iwamura) Physica A, Vol. 383, Issue 1, September 2007, 158-163.

[19] "Firm Growth and Interfirm Network: Evidence from Japan," (with Y. Saito) The Economic Review, Vol. 58, No. 4, October 2007, 302-313.

[20] "Monetary and Fiscal Policy in a Liquidity Trap: The Japanese Experience 1999-2004," (with M. Iwamura, T. Kudo) T. Ito and A. Rose (eds.) Monetary Policy with Very Low Inflation in the Pacific Rim, NBER-EASE Volume 15, 2006, 233-273.

[21] "The Liquidity Trap and Optimal Monetary Policy: A Survey," (with T. Takamura) The Economic Review, Vol. 57, No. 4, October 2006, 358-371.

[22] "Optimal Monetary Policy at the Zero-Interest-Rate Bound," (with J. Taehun, Y. Teranishi) Journal of Money, Credit, and Banking 37 (5), October 2005, 813-835.

[23] "Characteristic Market Behaviors Caused by Intervention in Foreign Exchange Market," (with T. Mizuno, Y. Saito, H. Takayasu) H. Takayasu (ed.) Practical Fruits of Econophysics: Proceedings of the Third Nikkei Econophysics Symposium, Springer, 2005, 33-37.

[24] "Are Firm Growth Rates Random? Evidence from Japanese Small Firms," (with Y. Saito) H. Takayasu (ed.) Practical Fruits of Econophysics: Proceedings of the Third Nikkei Econophysics Symposium, Springer, 2005, 277-282.

[25] "Non-Keynesian Effects of Fiscal Policy: Evidence from Japanese Regional Data," The Economic Review, Vol. 55, No. 4, October 2004, 313-327.

[26] "The Relationship between Relative-Price Changes and Inflation: Evidence from Six Countries," (with K. Hosono, M. Yokote) The Economic Review, Vol. 54, No. 3, July 2003, 206-222.

[27] "The Transmission of Monetary Policy through Borrowers' Balance Sheets: Evidence from Panel Data on Japanese Firms," (with K. Hosono) The Economic Review, Vol. 53, No. 2, April 2002, 117-133.

[28] "Tax Policy and Consumer Spending: Evidence from Japanese Fiscal Experiments," (with K. Watanabe, T. Watanabe) Journal of International Economics 53, 2001, 261-281.

[29] "The Liquidity Trap and Monetary Policy," The Economic Review, Vol. 51, No. 4, October 2000, 358-370.

[30] "Output-inflation Tradeoff at Near-zero Inflation Rates," (with K. Nishizaki) Journal of the Japanese and International Economies, 14, 2000, 304-326.

[Working Papers]

[1] "A New Method for Measuring Tail Exponents of Firm Size Distributions," (with S. Fujimoto, A. Ishikawa, T. Mizuno) Research Center for Price Dynamics Working Paper Series No. 75, July 2011.

[2] "House Prices at Different Stages of the Buying/Selling Process," (with C. Shimizu and K. G. Nishimura) Research Center for Price Dynamics Working Paper Series No. 69, February 2011.

[3] "On the Nominal Rigidities of Hosing Rents," (with C. Shimizu), Research Center for Price Dynamics Working Paper Series No. 66, November 2010.

[4] "On the Evolution of the House Price Distribution," (with T. Ohnishi, T. Mizuno, C. Shimizu) Research Center for Price Dynamics Working Paper Series No. 61, August 2010.

[5] "A New Method for Identifying the Effects of Central Bank Interventions," (with C. Chen, T. Yabu) Research Center for Price Dynamics Working Paper Series No.30, January 2009.

[6] "The Great Intervention and Massive Money Injection: The Japanese Experience 2003-2004," (with T. Yabu) Research Center for Price Dynamics Working Paper Series No. 12, June 2007.

[7] "Optimal Monetary Policy at the Zero Interest Rate Bound: The Case of Endogenous Capital Formation," (with T. Takamura, T. Kudo) Research Center for Price Dynamics Working Paper Series No. 3, November 2006.

[8] "Massive Money Injection in an Economy with Broad Liquidity Services: The Japanese Experience 2001-2006," (with M. Iwamura, S. Shiratsuka) Research Center for Price Dynamics Working Paper Series No.1, November 2006.

[9] "Menu Costs and Price Change Distributions: Evidence from Japanese Scanner Data," (with Y. Saito) Research Center for Price Dynamics Working Paper Series No.17, December 2007.

[10] "Price Level Dynamics in a Liquidity Trap," (with M. Iwamura) RIETI Discussion Paper Series, 03-E-002, January 2003.