Financial Economics, Macroeconomics

1997 Ph.D. Economics, Harvard University
1992 M.A. Economics, Hitotsubashi University
1990 B.A. Economics, Hitotsubashi University

2012 Professor, Institute of Economic Research, Hitotsubashi University
2011 Associate Professor, Institute of Economic Research, Hitotsubashi University
2009 Principal Economist, Policy Research Institute, Ministry of Finance
2002 Associate Professor, Institute of Economic Research, Hitotsubashi University
2001 Assistant Professor, Institute of Economic Research, Hitotsubashi University
1997 Assistant Professor, Institute of Policy and Planning Sciences, University of Tsukuba (Japan)

"Forecasting Japanese Stock Returns with Financial Ratios and Other Variables," Asia-Pacific Financial Markets 18:4, 373-384, 2011 (co-authored with Kohei Aono).

"On the Predictability of Japanese Stock Returns Using Dividend Yield," Asia-Pacific Financial Markets, 17:2, 141-149, 2010 (co-authored with Kohei Aono).

"Household Portfolios in Japan," Japan and the World Economy, 21:4, 373-382, 2009.

"Stock Index Autocorrelation and Cross-autocorrelations of Size-sorted Portfolios in the Japanese Market," Hitotsubashi Journal of Economics, 48:1, 95-112, 2007.

"Corporate Investment and Restructuring," in Takatoshi Ito, Hugh Patrick and David E. Weinstein editors, Reviving Japan's Economy: Problems and Prescriptions, Cambridge, MA, MIT Press, pp.275-309, 2005.

"Does International Diversification Really Diversify Risks?" Journal of the Japanese and International Economies, 16:1, 109-134, 2002.

"Explaining Asset Bubbles in Japan," Monetary and Economic Studies (Bank of Japan), 14:1, 143-193, 1996 (co-authored with Takatoshi Ito).