International Macroeconomics

Amid rapidly advancing globalization, there is a need to consider how the Japanese economy should take on growth in emerging markets and realize balanced, sustainable growth within Asia. In addition to studying institutional infrastructures such as the role of a currency basket in the Asia region, this program also will analyze various issues related to exchange-rate pass-through and the choice of invoice currencies from both macroeconomic and corporate-level perspectives. Furthermore, it also will advance research spanning fields such as international trade and macroeconomics, international finance, macro finance, corporate foreign-exchange risk management, and corporate finance. We will endeavor to propose ideal macroeconomic policies for fiscal reconstruction, particularly their influence on exchange rates, as well as analyze the long-term deflationary mechanism and explore ways of overcoming it.