Last Updated: April 2007

Tokuo Iwaisako

CURRICULUM VITAE  (click here for Japanese version )

Associate Professor
Institute of Economic Research
Hitotsubashi University

2-1 Naka, Kunitachi City,
Tokyo 186-8603, JAPAN
 
Tel.:   +81-42-580-8373
Fax:   +81-42-580-8333
 
tiw1@ier.hit-u.ac.jp

 

http://www.ier.hit-u.ac.jp/~iwaisako/


 

EDUCATION:

Harvard University, Ph.D., June 1997.
Hitotsubashi University, MA in Economics, March 1992;  BA in Economics, March 1990.
 

EXPERIENCE

Associate Professor, Institute of Economic Research  Hitotsubashi University , April 2002-present

Assistant Professor,
Institute of Economic Research  Hitotsubashi University , April 2001-March2002

Assistant Professor, Institute of Policy and Planning Sciences, University of Tsukuba, 1997-March 2001.

Research Associate, Asian Historical Statistics Project (Hitotsubashi University), 1997-March 2000.

Visiting Researcher, Economic Planning Agency, 1997-November 1999.

Intern, Research Department, International Monetary Fund, 1996.

Visiting Student, Institute of Monetary and Economic Studies, Bank of Japan, 1991-92.
 


PUBLICATION

PAPERS IN ENGLISH

gCorporate Investment and Restructuring,h in Takatoshi Ito, Hugh Patrick, and David Weinstein eds., Reviving Japan's Economy: Problems and Prescriptions, Cambridge MA: MIT Press, August
2005.

"Does International Diversification Really Diversify Risks?"  Journal of the Japanese and International Economies 16, pp.109-134, 2002.
 

"Growth Empirics -- Convergence Hypothesis and Multi-sector Analysis (in  Japanese)," Chapter 3 in East Asian Growth with Structural Change -- Neo-clasical  Growth Theory vs Flying Geese Pattern,THE KEIZAI KENKYU (The Economic  Analysis) No.160. January, 2000. (English version is available.)

"Explaining Asset Bubbles in Japan (with Takatoshi Ito)," Bank of Japan, Monetary and Economic Studies, Vol.14, 1996.


PAPERS IN JAPANESE

"Consumption-Wealth Ratio as a Risk Factor: Test of Conditional CAPM with Japanese Data", Economic Review (Hitotsubashi University) 54: 2, 126-136.

"Random Walk Hypothesis and Cross-Autocorrelations of Size-sorted portfolios in Japan", Gendai Finance, No.13, March 2003, 29-45.

"Puzzles in Japanese Stock Market", Financial Review (Ministry of Finance), Vol.70, March 2004, 17-28.

"Consumption CAPM with the Japanese Data: It is still a Puzzle (in Japanese),"  Gendai Finance, March 2001 .

"Growth Empirics -- Convergence Hypothesis and Multi-sector Analysis (in  Japanese)," Chapter 3 in East Asian Growth with Structural Change -- Neo-clasical  Growth Theory vs Flying Geese Pattern,THE KEIZAI KENKYU (The Economic  Analysis) No.160. January, 2000.

"Home Country Bias in International Stock Investment: The Implications of  Time Varying Risk (in Japanese)," Financial Analyst Journal, May, 1998.  


WORKS IN PROGRESS  

gStrategic Asset Allocation in Japan: An Empirical Evaluationh (with Olivia S. Mitchell and John
Piggott) Pension Research Council (Wharton School) WP 2005-1 (January 2005).


gHousehold Portfolios in Japan,h NBER working paper #9647, April 2003. (Under review)

"Internal Capital Markets of the Japanese Firms", (with Gaku Kobayashi)   December 2000.

"Banking Crises and Monetary Policy: Japan in the 1990s and U.S. in the 1930s (with Michael Bordo)," December 1998, (previous version was presented at the NBER Japan Project Meeting, December 1997).


EDITORIAL WORK

Co-editor :

Asian-Pacific Financial Market2, 2006-presents.

Economic Analysis (Keizai-Kenkyu), 2001-2006.

Referee
Asian-Pacific Financial Markets; Economic Journal; International Economic Review; Japan and the World Economy; Japanese Economic Review; Journal of International Economics; Journal of International Money and Finance; Journal of Money, Credit, and Banking; Journal of the Japanese and International Economies; Quarterly Review of
Economics & Finance.