Details about 藤木裕 (Hiroshi Fujiki)

Homepage:	https://c-research.chuo-u.ac.jp/html/100003076_en.html
Workplace:	Faculty of Commerce, Chuo University, (more information at EDIRC)

Access statistics for papers by 藤木裕.

Last updated 2025-03-14. Update your information in the RePEc Author Service.

Short-id: pfu64

---

Jump to Journal Articles Chapters

Working Papers

2020

1. Attributes needed for Japan's central bank digital currency
   Working Papers, Tokyo Center for Economic Research
   See also Journal Article Attributes needed for Japan’s central bank digital currency, The Japanese Economic Review, Springer (2023) (2023)
2. Who Adopts Crypto Assets in Japan? Evidence from the 2019 Financial Literacy Survey
   Working Papers, Tokyo Center for Economic Research View citations (31)
   See also Journal Article Who adopts crypto assets in Japan? Evidence from the 2019 financial literacy survey, Journal of the Japanese and International Economies, Elsevier (2020) View citations (22) (2020)

2019

3. Cash Usage Trends in Japan: Evidence Using Aggregate and Household Survey Data
   Working Papers, Tokyo Center for Economic Research View citations (9)
4. How do we choose to pay using evolving retail payment technologies? Some additional results from Japan
   Working Papers, Tokyo Center for Economic Research View citations (6)
5. Who needs guidance from a financial adviser? Evidence from Japan
   Working Papers on Central Bank Communication, University of Tokyo, Graduate School of Economics

2017

6. Choice of payment instrument for low-value transactions in Japan
   International Cash Conference 2017 – War on Cash: Is there a Future for Cash?, Deutsche Bundesbank View citations (1)

2016

7. Choice of Collateral Asset and the Cross-Border Effect of Automatic Stays
   IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan
8. Nontraditional Monetary Policy in a Model of Default Risks and Collateral in the Absence of Commitment
   Working Papers, Tokyo Center for Economic Research

2015

9. Fiscal Cost to Exit Quantitative Easing: The Case of Japan
   Working Papers, Tokyo Center for Economic Research View citations (3)
   See also Journal Article Fiscal cost to exit quantitative easing: the case of Japan, Japan and the World Economy, Elsevier (2017) View citations (18) (2017)

2013

10. Aggregate and Household Demand for Money: Evidence from Public Opinion Survey on Household Financial Assets and Liabilities
    Working Papers, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University
    Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2008) View citations (6)
    See also Journal Article Aggregate and Household Demand for Money: Evidence from the Public Opinion Survey on Household Financial Assets and Liabilities, Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan (2008) View citations (5) (2008)
11. Disentangling the Effects of Multiple Treatments - Measuring the Net Economic Impact of the 1995 Great Hanshin-Awaji Earthquake
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (5)
    See also Journal Article Disentangling the effects of multiple treatments—Measuring the net economic impact of the 1995 great Hanshin-Awaji earthquake, Journal of Econometrics, Elsevier (2015) View citations (22) (2015)
12. Institutional Designs to Alleviate Liquidity Shortages in a Two- Country Model
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan
    See also Journal Article Institutional designs to alleviate liquidity shortages in a two-country model, Japan and the World Economy, Elsevier (2014) (2014)
13. Japanese Money Demand from the Regional Data: An Update and Some Additional Results
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (2)
    See also Journal Article Japanese Money Demand from the Regional Data: An Update and Some Additional Results, Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan (2014) (2014)

2012

14. Aging and Household Stockholdings: Evidence from Japanese Household Survey Data
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (9)

2010

15. Policy Measures to Alleviate Foreign Currency Liquidity Shortages under Aggregate Risk with Moral Hazard
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (1)
    See also Journal Article Policy Measures to Alleviate Foreign Currency Liquidity Shortages under Aggregate Risk with Moral Hazard, The Japanese Economic Review, Japanese Economic Association (2013) View citations (1) (2013)

2009

16. Demand for Currency, New Technology and the Adoption of Electronic Money: Evidence Using Individual Household Data
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (6)

2007

17. Financial Integration in East Asia
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (6)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2007) View citations (2)
    See also Journal Article Financial Integration in East Asia, Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan (2007) View citations (6) (2007)
18. Incentive Efficient Risk Sharing in Settlement Mechanism
    Discussion Papers, Meisei University, School of Economics View citations (2)
    See also Journal Article Incentive efficient risk sharing in a settlement mechanism, Journal of Economic Theory, Elsevier (2008) View citations (9) (2008)

2006

19. Controlling for geographic dispersion when estimating the Japanese Phillips curve
    Working Papers, Federal Reserve Bank of St. Louis

2004

20. Aggregate vs Disaggregate Data Analysis — A Paradox in the Estimation of a Money Demand Function of Japan Under the Low Interest Rate Policy
    IEPR Working Papers, Institute of Economic Policy Research (IEPR) View citations (5)
    Also in 10th International Conference on Panel Data, Berlin, July 5-6, 2002, International Conferences on Panel Data (2002) View citations (6)
    See also Journal Article Aggregate vs. disaggregate data analysis-a paradox in the estimation of a money demand function of Japan under the low interest rate policy, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (2005) View citations (27) (2005)

2003

21. The Big Mac Standard: A Statistical Illustration
    Discussion Paper Series, Institute of Economic Research, Hitotsubashi University View citations (3)
    See also Journal Article The Big Mac Standard: A statistical Illustration, Economics Bulletin, AccessEcon (2004) View citations (1) (2004)

1999

22. Sharing the risk of settlement failure
    Working Papers, Federal Reserve Bank of Minneapolis View citations (19)

1998

23. Sharing the Risk of Settlement Failure: Synopsis
    Discussion Papers, Graduate School of Economics, Hitotsubashi University View citations (1)

1994

24. Feldstein-Horioka Paradox Revisited
    Discussion Paper Series, Institute of Economic Research, Hitotsubashi University View citations (2)
    See also Journal Article Feldstein-Horioka Paradox Revisited, Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan (1995) View citations (3) (1995)

Journal Articles

2025

1. Cashless payment methods and COVID-19: evidence from Japanese consumer panel data
   The Japanese Economic Review, 2025, 76, (1), 121-162

2024

2. Central bank digital currency, crypto assets, and cash demand: evidence from Japan
   Applied Economics, 2024, 56, (19), 2241-2259
3. The rise of internet-only banks: Analyzing the bias in cross-prefectural money demand elasticity
   Japan and the World Economy, 2024, 71, (C)

2023

4. Attributes needed for Japan’s central bank digital currency
   The Japanese Economic Review, 2023, 74, (1), 117-175
   See also Working Paper Attributes needed for Japan's central bank digital currency, Working Papers (2020) (2020)

2022

5. Household financial services, financial literacy, and COVID-19 pandemic
   Applied Economics Letters, 2022, 29, (7), 615-618 View citations (4)

2021

6. Crypto asset ownership, financial literacy, and investment experience
   Applied Economics, 2021, 53, (39), 4560-4581 View citations (12)

2020

7. Are the actual and intended sources of financial knowledge the same? Evidence from Japan
   Japan and the World Economy, 2020, 55, (C) View citations (3)
8. Cash demand and financial literacy: A case study using Japanese survey data
   Japan and the World Economy, 2020, 54, (C) View citations (7)
9. Correction to: The use of noncash payment methods for regular payments and the household demand for cash: evidence from Japan
   The Japanese Economic Review, 2020, 71, (4), 767-768 View citations (8)
10. Empirical Analysis on Understanding of Financial Products
    Public Policy Review, 2020, 16, (7), 1-25 View citations (1)
11. The use of noncash payment methods for regular payments and the household demand for cash: evidence from Japan
    The Japanese Economic Review, 2020, 71, (4), 719-765 View citations (9)
12. Who adopts crypto assets in Japan? Evidence from the 2019 financial literacy survey
    Journal of the Japanese and International Economies, 2020, 58, (C) View citations (22)
    See also Working Paper Who Adopts Crypto Assets in Japan? Evidence from the 2019 Financial Literacy Survey, Working Papers (2020) View citations (31) (2020)

2018

13. How do we choose to pay using evolving retail payment technologies? Evidence from Japan
    Journal of the Japanese and International Economies, 2018, 49, (C), 85-99 View citations (12)

2017

14. Fiscal cost to exit quantitative easing: the case of Japan
    Japan and the World Economy, 2017, 42, (C), 1-11 View citations (18)
    See also Working Paper Fiscal Cost to Exit Quantitative Easing: The Case of Japan, Working Papers (2015) View citations (3) (2015)

2016

15. Monetary Policy and Asset Price Booms: A Step Towards a Synthesis
    International Finance, 2016, 19, (1), 23-41 View citations (1)

2015

16. Disentangling the effects of multiple treatments—Measuring the net economic impact of the 1995 great Hanshin-Awaji earthquake
    Journal of Econometrics, 2015, 186, (1), 66-73 View citations (22)
    See also Working Paper Disentangling the Effects of Multiple Treatments - Measuring the Net Economic Impact of the 1995 Great Hanshin-Awaji Earthquake, IMES Discussion Paper Series (2013) View citations (5) (2013)

2014

17. Currency demand, new technology, and the adoption of electronic money: Micro evidence from Japan
    Economics Letters, 2014, 125, (1), 5-8 View citations (14)
18. Institutional designs to alleviate liquidity shortages in a two-country model
    Japan and the World Economy, 2014, 31, (C), 32-46
    See also Working Paper Institutional Designs to Alleviate Liquidity Shortages in a Two- Country Model, IMES Discussion Paper Series (2013) (2013)
19. Japanese Money Demand from the Regional Data: An Update and Some Additional Results
    Monetary and Economic Studies, 2014, 32, 45-102
    See also Working Paper Japanese Money Demand from the Regional Data: An Update and Some Additional Results, IMES Discussion Paper Series (2013) View citations (2) (2013)

2013

20. Financial Crises and the Global Financial System: Summary of the 2013 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan
    Monetary and Economic Studies, 2013, 31, 1-20
21. Policy Measures to Alleviate Foreign Currency Liquidity Shortages under Aggregate Risk with Moral Hazard
    The Japanese Economic Review, 2013, 64, (4), 504-536 View citations (1)
    See also Working Paper Policy Measures to Alleviate Foreign Currency Liquidity Shortages under Aggregate Risk with Moral Hazard, IMES Discussion Paper Series (2010) View citations (1) (2010)

2012

22. Demographic Changes and Macroeconomic Performance: Summary of the 2012 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan
    Monetary and Economic Studies, 2012, 30, 1-18

2011

23. Inflation target and debt management of local government bonds
    Japan and the World Economy, 2011, 23, (3), 178-189

2008

24. Aggregate and Household Demand for Money: Evidence from the Public Opinion Survey on Household Financial Assets and Liabilities
    Monetary and Economic Studies, 2008, 26, 159-194 View citations (5)
    See also Working Paper Aggregate and Household Demand for Money: Evidence from Public Opinion Survey on Household Financial Assets and Liabilities, Working Papers (2013) (2013)
25. Incentive efficient risk sharing in a settlement mechanism
    Journal of Economic Theory, 2008, 142, (1), 178-195 View citations (9)
    See also Working Paper Incentive Efficient Risk Sharing in Settlement Mechanism, Discussion Papers (2007) View citations (2) (2007)

2007

26. Financial Integration in East Asia
    Monetary and Economic Studies, 2007, 25, (S1), 57-100 View citations (6)
    See also Working Paper Financial Integration in East Asia, IMES Discussion Paper Series (2007) View citations (6) (2007)
27. The Fourteenth International Conference "Growth, Integration and Monetary Policy in East Asia," Introduction Summary
    Monetary and Economic Studies, 2007, 25, (S1), 1-8

2006

28. Bank Health Concerns, Low Interest Rates, and Money Demand: Evidence from the Public Opinion Survey on Household Financial Assets and Liabilities
    Monetary and Economic Studies, 2006, 24, (2), 73-124 View citations (8)
29. Institutions of Foreign Exchange Settlement in a Two-Country Model
    Journal of Money, Credit and Banking, 2006, 38, (3), 697-719 View citations (12)

2005

30. Aggregate vs. disaggregate data analysis-a paradox in the estimation of a money demand function of Japan under the low interest rate policy
    Journal of Applied Econometrics, 2005, 20, (5), 579-601 View citations (27)
    See also Working Paper Aggregate vs Disaggregate Data Analysis — A Paradox in the Estimation of a Money Demand Function of Japan Under the Low Interest Rate Policy, IEPR Working Papers (2004) View citations (5) (2004)
31. Asymmetric Shocks and Regional Risk Sharing: Evidence from Japan
    Monetary and Economic Studies, 2005, 23, (2), 31-60 View citations (4)
32. Optimal inflation target under uncertainty
    Japan and the World Economy, 2005, 17, (4), 470-479 View citations (3)
33. The Monetary Policy Committee and the Incentive Problem: A Selective Survey
    Monetary and Economic Studies, 2005, 23, (S1), 37-82 View citations (30)
34. The Twelfth International Conference "Incentive Mechanisms for Economic Policymakers," Introduction
    Monetary and Economic Studies, 2005, 23, (S1), 1-8

2004

35. Comments on "Price Stability and Japanese Monetary Policy."
    Monetary and Economic Studies, 2004, 22, (3), 25-36 View citations (2)
36. Japanese Demand for M1 and Demand Deposits: Cross-Sectional and Time-Series Evidence from Japan
    Monetary and Economic Studies, 2004, 22, (3), 47-77 View citations (12)
37. OPTIMAL CONTRACTS FOR CENTRAL BANKERS AND PUBLIC DEBT POLICY*
    The Japanese Economic Review, 2004, 55, (4), 372-400 View citations (1)
38. The Big Mac Standard: A statistical Illustration
    Economics Bulletin, 2004, 6, (13), 1-18 View citations (1)
    See also Working Paper The Big Mac Standard: A Statistical Illustration, Discussion Paper Series (2003) View citations (3) (2003)

2003

39. A model of the Federal Reserve Act under the international gold standard system
    Journal of Monetary Economics, 2003, 50, (6), 1333-1350 View citations (21)
40. Effects of External Debt on Domestic Resource Allocation in a Small Open Economy with Limited Access to the World Capital Market
    Monetary and Economic Studies, 2003, 21, (4), 21-56

2002

41. "Exchange Rate Regimes in the 21st Century," Introduction
    Monetary and Economic Studies, 2002, 20, (S1), 1-8
42. Do Currency Regimes Matter in the 21st Century? An Overview
    Monetary and Economic Studies, 2002, 20, (S1), 47-79 View citations (3)
43. Is There a Stable Money Demand Function under the Low Interest Rate Policy? A Panel Data Analysis
    Monetary and Economic Studies, 2002, 20, (2), 1-23 View citations (18)
44. Money Demand near Zero Interest Rate: Evidence from Regional Data
    Monetary and Economic Studies, 2002, 20, (2), 25-41 View citations (11)
45. Policy Duration Effect under the Zero Interest Rate Policy in 1999-2000: Evidence from Japan's Money Market Data
    Monetary and Economic Studies, 2002, 20, (1), 1-31 View citations (45)

2001

46. Budget Deficits and Inflation: A Theoretical and Empirical Survey
    Monetary and Economic Studies, 2001, 19, (1), 49-87 View citations (1)
47. Monetary Policy under Zero Interest Rate: Viewpoints of Central Bank Economists
    Monetary and Economic Studies, 2001, 19, (1), 89-130 View citations (40)
48. Structural Issues in the Japanese Labor Market: An Era of Variety, Equity, and Efficiency or an Era of Bipolarization?
    Monetary and Economic Studies, 2001, 19, (S1), 177-208 View citations (11)

2000

49. Japanese Rice Market Liberalization: A Competitive Equilibrium Approach
    The Japanese Economic Review, 2000, 51, (4), 492-518 View citations (6)

1999

50. Japanese money demand: evidence from regional monthly data1
    Japan and the World Economy, 1999, 11, (3), 375-393 View citations (4)
51. The Structure of Rice Production in Japan and Taiwan
    Economic Development and Cultural Change, 1999, 47, (2), 387-400 View citations (5)

1998

52. Nonstationary Time-Series Modeling versus Structural Equation Modeling: With an Application to Japanese Money Demand
    Monetary and Economic Studies, 1998, 16, (1), 57-79 View citations (6)

1996

53. A Structural Analysis of Money Demand: Cross-Sectional Evidence from Japan
    Monetary and Economic Studies, 1996, 14, (2), 53-78 View citations (14)
54. Central Bank Independence Indexes in Economic Analysis: A Reappraisal
    Monetary and Economic Studies, 1996, 14, (2), 79-101 View citations (12)
55. Production, Financial Sophistication, and the Demand for Money by Households and Firms
    Monetary and Economic Studies, 1996, 14, (1), 65-103 View citations (12)

1995

56. Feldstein-Horioka Paradox Revisited
    Monetary and Economic Studies, 1995, 13, (1), 1-16 View citations (3)
    See also Working Paper Feldstein-Horioka Paradox Revisited, Discussion Paper Series (1994) View citations (2) (1994)

Chapters

2003

1. Zero-Interest-Rate Policy, the Forward-Rate Curve, and Policy-Duration Effect
   Chapter 10 in Japan’s Economic Recovery, 2003, pp 341-374