SHIRATSUKA, Shigenori

Education & Employment

2008

Associate Director-General
Institute for Monetary and Economic Studies
Bank of Japan

2008

Associate Director-General
Head of Financial Analysis and Research
Financial Systems and Bank Examination Department Bank of Japan

2006

Director and Senior Economist
Head of Financial Analysis and Research
Financial Systems and Bank Examination Department
Bank of Japan

2005

Director and Senior Economist
Monetary Affairs Department Bank of Japan

1999

Director and Senior Economist
Institute for Monetary and Economic Studies
Bank of Japan

1998

Visiting Economist Federal Reserve Bank of Chicago

1987

Bank of Japan

2000

Ph.D. in economics, Keio University, Japan

1987

B.A. in economics, Keio University, Japan

Research Fields

Macroeconomics
Monetary policy
Price measurement

Major Publications

Publications in English:

• “The Asset Price Bubble in Japan in the 1980s: Lessons for Financial and Macroeconomic Stability,” in Real Estate Indicators and Financial Stability, BIS Papers No. 21, Bank for International Settlements, 2005.
• “Asset Price Fluctuations, Structural Adjustments, and Sustained Economic Growth: Lessons from Japan's Experience since the Late 1980s,” Monetary and Economic Studies, 22(S-1), Institute for Monetary and Economic Studies, Bank of Japan, 2004 (with Kunio Okina).
• “Distortions in Factor Markets and Structural Adjustments in the Economy,” Monetary and Economic Studies, 22(2), Institute for Monetary and Economic Studies, Bank of Japan, 2004 (with Masayuki Nakakuki and Akira Otani).
• “Policy Commitment and Expectation Formation: Japan's Experience under Zero Interest Rates,” The North American Journal of Economics and Finance 15(1), 2004 (with Kunio Okina).
• “Asset Price Bubbles, Price Stability, and Monetary Policy: Japan's Experience,” Monetary and Economic Studies, 20(3), Institute for Monetary and Economic Studies, Bank of Japan, 2002 (with Kunio Okina). 4
• “Policy Duration Effect under the Zero Interest Rate Policy in 1999-2000: Evidence from Japan's Money Market Data,” Monetary and Economic Studies, 20(1), Institute for Monetary and Economic Studies, Bank of Japan, 2002 (with Hiroshi Fujiki).
• “Asset Prices, Financial Stability and Monetary Policy: Based on Japan's Experience of the Asset Price Bubble,” BIS Papers No. 1 (Marrying the Macro- and Microprudential Dimensions of Financial Stability), Bank for International Settlement, 2001.
• “Is There a Desirable Rate of Inflation? A Theoretical and Empirical Survey,” Monetary and Economic Studies, 19(2), Institute for Monetary and Economic Studies, Bank of Japan, 2001.
• “Financial Crises as the Failure of Arbitrage: Implications for Monetary Policy,” Monetary and Economic Studies, 19(S-1), Institute for Monetary and Economic Studies, Bank of Japan, 2001 (joint with Makoto Saito).
• “The Asset Price Bubble and Monetary Policy: Japan's Experience in the Late 1980s and the Lessons” Monetary and Economic Studies, 19(S-1), Institute for Monetary and Economic Studies, Bank of Japan, 2001 (with Masaaki Shirakawa, and Kunio Okina).
• “Monetary Policy under Zero Interest Rate --- Viewpoints of Central Bank Economists ---,” Monetary and Economic Studies, 19(1), Institute for Monetary and Economic Studies, Bank of Japan, 2001 (with Hiroshi Fujiki, and Kunio Okina).
• “Measurement Errors in Japanese Consumer Price Index,” Monetary and Economic Studies, 17(3), Institute for Monetary and Economic Studies, Bank of Japan, 1999.
• “Inflation Measures for Monetary Policy: Measuring Underlying Inflation Trend and Its Implication for Monetary Policy Implementation,” Monetary and Economic Studies, 15(2), Institute for Monetary and Economic Studies, Bank of Japan, 1997.
• “Automobile Prices and Quality Changes: A Hedonic Price Analysis of the Japanese Automobile Market,” Monetary and Economic Studies, 13(2), Institute for Monetary and Economic Studies, Bank of Japan, 1995.
• “Effects of Quality Changes on the Price Index: A Hedonic Approach to the Estimation of a Quality Adjusted Price Index for Personal Computers in Japan,” Monetary and Economic Studies, 13(1), Institute for Monetary and Economic Studies, Bank of Japan, 1995.