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Central Bank Communication Design

Research Project

Project/Area Number 18H05217
Research Category

Grant-in-Aid for Scientific Research (S)

Allocation TypeSingle-year Grants
Review Section Broad Section A
Research InstitutionThe University of Tokyo

Principal Investigator

渡辺 努  東京大学, 大学院経済学研究科(経済学部), 教授 (90313444)

Co-Investigator(Kenkyū-buntansha) 青木 浩介  東京大学, 大学院経済学研究科(経済学部), 教授 (30263362)
梶井 厚志  関西学院大学, 経済学部, 教授 (80282325)
宇井 貴志  一橋大学, 大学院経済学研究科, 教授 (60312815)
上田 晃三  早稲田大学, 政治経済学術院, 教授 (30708558)
水野 貴之  国立情報学研究所, 情報社会相関研究系, 准教授 (50467057)
Project Period (FY) 2018-06-11 – 2023-03-31
Project Status Granted (Fiscal Year 2022)
Budget Amount *help
¥187,850,000 (Direct Cost: ¥144,500,000、Indirect Cost: ¥43,350,000)
Fiscal Year 2022: ¥39,650,000 (Direct Cost: ¥30,500,000、Indirect Cost: ¥9,150,000)
Fiscal Year 2021: ¥35,360,000 (Direct Cost: ¥27,200,000、Indirect Cost: ¥8,160,000)
Fiscal Year 2020: ¥37,830,000 (Direct Cost: ¥29,100,000、Indirect Cost: ¥8,730,000)
Fiscal Year 2019: ¥32,110,000 (Direct Cost: ¥24,700,000、Indirect Cost: ¥7,410,000)
Fiscal Year 2018: ¥42,900,000 (Direct Cost: ¥33,000,000、Indirect Cost: ¥9,900,000)
Keywordsマクロ経済学 / 金融政策 / 中央銀行 / ゲーム理論 / 関心と信認 / 透明性 / 信認 / 関心 / コミュニケーション
Outline of Annual Research Achievements

本研究では、2018年度のプロジェクト開始から現在までの期間で、合計54本の論文・著書を作成してきた。現在は査読雑誌に投稿中あるいは投稿後の改訂中のステータスにある論文が多いが、プロジェクトの残りの期間で学術雑誌への掲載が見込まれている。また、本研究のメンバーは、これらの研究成果を内外のコンファランス等で報告し、情報発信を行っており、2018年度から現在までの報告総数は62件である。なお、新型コロナウイルス感染の影響で報告機会が減少したが、今後は内外の研究会で積極的に発信を行う計画である。

Current Status of Research Progress
Current Status of Research Progress

1: Research has progressed more than it was originally planned.

Reason

本研究の成果は既に内外で高い評価を得ている。特に日本のインフレ期待の形成に関する研究成果は、物価停滞の経済においてインフレ期待がどのように形成されるかを世界で初めて明らかにした論文として、内外の注目を集めた。本研究で生まれた2つの論文は2019年秋に開催された日本銀行の研究会で報告され、日本経済の現状を説明する仮説として多くの参加者から支持を得た。その後、黒田日銀総裁を始めとする日銀幹部の講演等でも頻繁に引用され、主要な海外メディアでも数多く紹介された。「物価の動きの鈍さ」という日本の物価問題を理解する際の、不可欠な基礎概念として浸透している。また、本研究では、価格をはじめとする経済変数について人々が予想する際に、使用できる情報が限定されているという、現実的な設定の下で、均衡がどのような性質をもつかについて理論的な分析を行い、研究成果をあげてきた。プロジェクトの残りの期間で、中央銀行コミュニケーションの解明、特に中央銀行への「関心」と「信認」の解明に向けた分析作業をさらに加速させる計画である。

Strategy for Future Research Activity

「理論モデル」班は、中央銀行と民間部門の情報伝達に関する研究を継続する。具体的には、①情報伝達の双方向性を考慮した分析と、②情報開示に関する経済厚生分析を行う。特に、①については、中央銀行は民間に情報発信すると同時に、資産価格等の経済変数を分析して経済の現状を把握しており、双方向性がある。この点を踏まえて、中央銀行から民間への情報発信の度合いが中央銀行の民間からの受信にどのような影響を及ぼすか等を分析する。
「実証・サーベイ」班は、企業の価格転嫁率の低下に関する分析を継続する。企業を対象としたアンケート調査の結果と財務・販売価格データを組み合わせることにより、価格転嫁率の低下がなぜ生じているのか、中央銀行の発信は価格転嫁率にどのような影響を及ぼすかを分析する。また、企業の価格転嫁率が低い状況では、限界費用の増加に対して商品の価格ではなく、商品の品質で調整するということが行われる。これはNon-price adjustmentとよばれている。日本で起きている商品の小型化はその一種とみることができる。商品の品質について消費者の認知能力に限界があるという設定の下でモデルを構築し、どのような条件下で商品の小型化戦略が均衡における現象として現れるかを調べる。またその条件が実際に満たされているかを実証的に検証する。
「非構造化データ」班は、これまでに開発した分析手法と構築した経済文書のデータベースを用いて、日銀の発信する情報に対する「関心」と「信認」の有無に関する分析を継続する。その際、経済現象の因果に関する認識が中央銀行と民間で異なることが原因となって、中央銀行の情報発信に対する「関心」と「信認」が損なわれる可能性について分析を行う。
「事例研究」班は、日銀の行った非伝統的金融緩和政策を題材に、同政策の形成過程とそこにおける中銀と市場との対話について分析を継続する。

Assessment Rating
Interim Assessment Comments (Rating)

A: In light of the aim of introducing the research area into the research categories, the expected progress has been made in research.

Report

(7 results)
  • 2020 Abstract (Interim Assessment) ( PDF )   Annual Research Report   Interim Assessment (Comments) ( PDF )
  • 2019 Annual Research Report
  • 2018 Abstract ( PDF )   Comments on the Screening Results ( PDF )   Annual Research Report

Research Products

(124 results)

All 2021 2020 2019 2018 Other

All Int'l Joint Research (8 results) Journal Article (48 results) (of which Int'l Joint Research: 10 results,  Peer Reviewed: 26 results,  Open Access: 36 results) Presentation (62 results) (of which Int'l Joint Research: 45 results,  Invited: 25 results) Book (5 results) Remarks (1 results)

  • [Int'l Joint Research] Dartmouth College(米国)

    • Related Report
      2020 Annual Research Report
  • [Int'l Joint Research] Imperial College Business School(英国)

    • Related Report
      2020 Annual Research Report
  • [Int'l Joint Research] European Central Bank(ドイツ)

    • Related Report
      2020 Annual Research Report
  • [Int'l Joint Research] スイス・チューリッヒ大学(スイス)

    • Related Report
      2020 Annual Research Report
  • [Int'l Joint Research] Dartmouth College(米国)

    • Related Report
      2019 Annual Research Report
  • [Int'l Joint Research] European Central Bank(ドイツ)

    • Related Report
      2019 Annual Research Report
  • [Int'l Joint Research] Dartmouth College(米国)

    • Related Report
      2018 Annual Research Report
  • [Int'l Joint Research] European Central Bank(ドイツ)

    • Related Report
      2018 Annual Research Report
  • [Journal Article] Decentralizability of Efficient Allocations with Heterogenous Forecasts2021

    • Author(s)
      Chatterji Shurojit, Kajii Atsushi
    • Journal Title

      Working Papers on Central Bank Communication

      Volume: 31 Pages: 1-36

    • Related Report
      2020 Annual Research Report
    • Open Access / Int'l Joint Research
  • [Journal Article] Strategic Ambiguity in Global Games2021

    • Author(s)
      Ui Takashi
    • Journal Title

      Working Papers on Central Bank Communication

      Volume: 32 Pages: 1-34

    • Related Report
      2020 Annual Research Report
    • Open Access
  • [Journal Article] Why does production function take the Cobb-Douglas form? Direct observation of production function using empirical data2021

    • Author(s)
      Atushi Ishikawa, Shouji Fujimoto, and Takayuki Mizuno
    • Journal Title

      Evolutionary and Institutional Economics Review

      Volume: 18 Pages: 79-102

    • DOI

      10.1007/s40844-020-00180-3

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Multivariate Hawkes process analysis of posts on a web service about uncomfortable gender experiences2021

    • Author(s)
      Goda Masatoshi, Yano Ryosuke, Mizuno Takayuki
    • Journal Title

      Journal of Complex Networks

      Volume: 9 Pages: 1-21

    • DOI

      10.1093/comnet/cnab010

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Nondiagonal Mixture of Dirichlet Network Distributions for Analyzing a Stock Ownership Network2021

    • Author(s)
      Zhang Wenning, Hisano Ryohei, Ohnishi Takaaki, Mizuno Takayuki
    • Journal Title

      Complex Networks & Their Applications IX

      Volume: 1 Pages: 75-86

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Trade clustering and power laws in financial markets2020

    • Author(s)
      Nirei Makoto, Stachurski John, Watanabe Tsutomu
    • Journal Title

      Theoretical Economics

      Volume: 15 Pages: 1365-1398

    • DOI

      10.3982/te3523

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] House Price Dispersion in Boom-Bust Cycles : Evidence from Tokyo2020

    • Author(s)
      Tsutomu Watanabe, Takaaki Ohnishi, Takayuki Mizuno
    • Journal Title

      JER

      Volume: 71 Issue: 4 Pages: 511-539

    • DOI

      10.1007/s42973-019-00019-6

    • NAID

      210000178515

    • ISSN
      1352-4739, 1468-5876
    • Description
      Forthcoming(2020年予定)
    • Related Report
      2020 Annual Research Report 2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Online Consumption During the COVID-19 Crisis: Evidence from Japan2020

    • Author(s)
      Watanabe Tsutomu, Omori Yuki
    • Journal Title

      Covid Economics: Vetted and Real-Time Papers

      Volume: 32 Pages: 208-241

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] How Much Did People Refrain from Service Consumption due to the Outbreak of COVID-19?2020

    • Author(s)
      Watanabe Tsutomu, Omori Yuki
    • Journal Title

      CARF Working Paper Series

      Volume: F-477 Pages: 1-17

    • Related Report
      2020 Annual Research Report
    • Open Access
  • [Journal Article] 流動人口ビッグデータによる地域住民の自粛率の見える化 - 感染者数と自粛の関係2020

    • Author(s)
      水野貴之, 大西立顕, 渡辺努
    • Journal Title

      キヤノングローバル戦略研究所コラム

      Volume: 2020.04.22 Pages: 1-13

    • Related Report
      2020 Annual Research Report
    • Open Access
  • [Journal Article] GPS位置情報ビッグデータによる人口分布の高解像度化と接触頻度の推定2020

    • Author(s)
      水野貴之, 大西立顕, 渡辺努
    • Journal Title

      キヤノングローバル戦略研究所コラム

      Volume: 2020.05.08

    • Related Report
      2020 Annual Research Report
    • Open Access
  • [Journal Article] 空間情報ビッグデータによるCOVID-19の感染に繋がる接触頻度の推定2020

    • Author(s)
      水野貴之, 大西立顕, 渡辺努
    • Journal Title

      キヤノングローバル戦略研究所コラム

      Volume: 2020.05.29

    • Related Report
      2020 Annual Research Report
    • Open Access
  • [Journal Article] 世代別・性別の 外出率とCOVID-19陽性者割合との関係2020

    • Author(s)
      水野貴之, 大西立顕, 渡辺努
    • Journal Title

      キヤノングローバル戦略研究所コラム

      Volume: 2020.07.15

    • Related Report
      2020 Annual Research Report
    • Open Access
  • [Journal Article] 流動人口ビッグデータによる外出の自粛率の見える化2020

    • Author(s)
      水野 貴之、大西 立顕、渡辺 努
    • Journal Title

      Journal of the Japanese Society for Artificial Intelligence

      Volume: 35 Issue: 5 Pages: 667-672

    • DOI

      10.11517/jjsai.35.5_667

    • NAID

      130007935286

    • ISSN
      2188-2266, 2435-8614
    • Related Report
      2020 Annual Research Report
  • [Journal Article] Interest Rate Model With Investor Attitude and Text Mining2020

    • Author(s)
      Nakatani Souta, Nishimura Kiyohiko G., Saito Taiga, Takahashi Akihiko
    • Journal Title

      IEEE Access

      Volume: 8 Pages: 86870-86885

    • DOI

      10.1109/access.2020.2992477

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Reforms and Crises in Government Statistics: The Case of Japan2020

    • Author(s)
      Higo Masahiro, Nishimura Kiyohiko G., Sakuragawa Yukie
    • Journal Title

      Asian Economic Papers

      Volume: 19 Pages: 21-37

    • DOI

      10.1162/asep_a_00771

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Identifying the Hierarchical Influence Structure Behind Smart Sanctions Using Network Analysis2020

    • Author(s)
      Ryohei Hisano, Hiroshi Iyetomi, and Takayuki Mizuno
    • Journal Title

      Aref S. et al. (eds) Social Informatics. SocInfo 2020. Lecture Notes in Computer Science, vol 12467.

      Volume: 12467 Pages: 95-107

    • DOI

      10.1007/978-3-030-60975-7_8

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Trade Clustering and Power Laws in Financial Market2020

    • Author(s)
      Tsutomu Watanabe, Makoto Nirei, John Stachurski
    • Journal Title

      Theoretical Economics

      Volume: 掲載確定

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Aging and Deflation from a Fiscal Perspective2020

    • Author(s)
      Katagiri, Mitsuru, Hideki Konishi, Kozo Ueda
    • Journal Title

      Journal of Monetary Economics

      Volume: 掲載確定

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Prediction of ESG Compliance using a Heterogeneous Information Network2020

    • Author(s)
      Ryouhei Hisano, Didier Sornette, Takayuki Mizuno,
    • Journal Title

      Journal of Big Data

      Volume: 掲載確定

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Incomplete Information Robustness2020

    • Author(s)
      Stephen Morris, Takashi Ui
    • Journal Title

      Working Papers on Central Bank Communication

      Volume: No. 019

    • Related Report
      2019 Annual Research Report
    • Open Access / Int'l Joint Research
  • [Journal Article] LQG Information Design2020

    • Author(s)
      Takashi Ui
    • Journal Title

      Working Papers on Central Bank Communication

      Volume: No.018

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Journal Article] Gaussian Hierarchical Latent Dirichlet Allocation: Bringing Polysemy Back2020

    • Author(s)
      Takahiro Yoshida, Ryohei Hisano, Takaaki Ohnishi
    • Journal Title

      Working Papers on Central Bank Communication

      Volume: No. 017

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Journal Article] The Formation of Consumer Inflation Expectations : New Evidence from Japan's Deflation Experience2020

    • Author(s)
      Tsutomu Watanabe, Jess Diamond, Kota Watanabe
    • Journal Title

      International Economic Review

      Volume: 61 Pages: 241-281

    • DOI

      10.1111/iere.12423

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Decentralizability of Efficient Allocations with Heterogenous Forecasts2020

    • Author(s)
      Atsushi Kajii, Shurojit Chatterji
    • Journal Title

      Working Papers on Central Bank Communication

      Volume: No.016

    • Related Report
      2019 Annual Research Report
    • Open Access / Int'l Joint Research
  • [Journal Article] Refinements and Higher Order Beliefs: A Unified Survey2020

    • Author(s)
      Atsushi Kajii, Stephen Morris
    • Journal Title

      JER

      Volume: 71 Issue: 1 Pages: 7-34

    • DOI

      10.1007/s42973-019-00006-x

    • NAID

      210000168339

    • ISSN
      1352-4739, 1468-5876
    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] Notes on Refinements and Higher Order Beliefs2020

    • Author(s)
      Atsushi Kajii, Stephen Morris
    • Journal Title

      JER

      Volume: 71 Issue: 1 Pages: 35-41

    • DOI

      10.1007/s42973-019-00007-w

    • NAID

      210000167926

    • ISSN
      1352-4739, 1468-5876
    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] The Lucas Imperfect Information Model with Imperfect Common Knowledge2020

    • Author(s)
      Takashi Ui
    • Journal Title

      JER

      Volume: 71 Issue: 1 Pages: 85-100

    • DOI

      10.1007/s42973-019-00003-0

    • NAID

      210000182797

    • ISSN
      1352-4739, 1468-5876
    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Dynamic Cost of Living Index for Storable Goods2020

    • Author(s)
      Kozo Ueda
    • Journal Title

      Economics Letters

      Volume: 189 Pages: 109013-109013

    • DOI

      10.1016/j.econlet.2020.109013

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Sequential ε-Contamination with Learning2019

    • Author(s)
      Kiyohiko G. Nishimura, Hiroyuki Kato, Hiroyuki Ozaki
    • Journal Title

      CARF Working Paper Series

      Volume: F-468

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Journal Article] Detecting Stock Market Bubbles Based on the Cross-Sectional Dispersion of Stock Prices2019

    • Author(s)
      Tsutomu Watanabe, Takayuki Mizuno, Takaaki Ohnishi
    • Journal Title

      Proceedings in Adaptation, Learning and Optimization, Springer, Cham. First Online: 05 December 2019

      Volume: - Pages: 194-202

    • DOI

      10.1007/978-3-030-37442-6_18

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] How Large is the Demand for Money at the ZLB? Evidence from Japan2019

    • Author(s)
      Tsutomu Watanabe, Tomoyoshi Yabu
    • Journal Title

      CARF Working Paper Series

      Volume: F-465

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Journal Article] Term Structure Models During the Global Financial Crisis: A Parsimonious Text Mining Approach2019

    • Author(s)
      Kiyohiko G. Nishimura, Seisho Sato, Akihiko Takahashi
    • Journal Title

      Asia-Pacific Financial Markets

      Volume: 26-3 Pages: 297-337

    • DOI

      10.1007/s10690-018-09267-9

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Learning Topic Models by Neighborhood Aggregation2019

    • Author(s)
      Ryohei Hisano
    • Journal Title

      Proceedings of the Twenty-Eighth International Joint Conference on Artificial Intelligence (IJCAI-19)

      Volume: - Pages: 2498-2505

    • DOI

      10.24963/ijcai.2019/347

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Product Turnover and the Cost of Living Index : Quality vs. Fashion Effects2019

    • Author(s)
      Tsutomu Watanabe, Kozo Ueda, Kota Watanabe
    • Journal Title

      merican Economic Journal : Macroeconomi

      Volume: 11 Issue: 2 Pages: 310-347

    • DOI

      10.1257/mac.20160403

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Prolonged Low Interest Rates and Banking Stability2019

    • Author(s)
      Kosuke Aoki, Ko Munakata, Nao Sudo
    • Journal Title

      Institute for Monetary and Economic Studies, Bank of Japan, Discussion Paper Series

      Volume: E-21

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Journal Article] Consumers' Price Beliefs, Central Bank Communication, and Inflation Dynamics2019

    • Author(s)
      Kosuke Aoki, Hibiki Ichiue, Tatsushi Okuda
    • Journal Title

      Bank of Japan Working Paper

      Volume: E-14

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Journal Article] Short- and long-run tradeoff of monetary easing2019

    • Author(s)
      Koki Oikawa and Kozo Ueda
    • Journal Title

      Journal of the Japanese and International Economies

      Volume: 印刷中 Pages: 189-200

    • DOI

      10.1016/j.jjie.2018.12.005

    • NAID

      210000180309

    • ISSN
      0889-1583
    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Detecting Ethnic Spatial Distribution of Business People using Recurrent Neural Networks2019

    • Author(s)
      Joomi Jun and Takayuki Mizuno
    • Journal Title

      Proceeding WI'19 Companion, IEEE/WIC/ACM International Conference on Web Intelligence

      Volume: 1 Pages: 29-34

    • DOI

      10.1145/3358695.3360925

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] トピック間の階層構造を考慮したGaussian LDA の構成2019

    • Author(s)
      吉田崇裕,久野遼平,大西立顕
    • Journal Title

      研究報 告自然言語処理(NL)

      Volume: NL-241,6 号 Pages: 1-8

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Journal Article] Strategic Central Bank Communication : Discourse Analysis of the Bank of Japan's Monthly Report2019

    • Author(s)
      Kohei Kawamura, Yohei Kobashi, Masato Shizume and Kozo Ueda
    • Journal Title

      Journal of Economic Dynamics and Control

      Volume: 100 Pages: 230-250

    • DOI

      10.1016/j.jedc.2018.11.007

    • Related Report
      2018 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] ビッグデータと人工知能を用いたファイナンス研究の潮流2019

    • Author(s)
      和泉潔
    • Journal Title

      金融研究

      Volume: 38 Pages: 15-28

    • Related Report
      2018 Annual Research Report
    • Open Access
  • [Journal Article] The optimal inflation rate under Schumpeterian growth2018

    • Author(s)
      Koki Oikawa and Kozo Ueda
    • Journal Title

      Journal of Monetary Economics

      Volume: 100 Pages: 114-125

    • DOI

      10.1016/j.jmoneco.2018.07.012

    • Related Report
      2018 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] GINN: gradient interpretable neural networks for visualizing financial texts2018

    • Author(s)
      Ito Tomoki、Sakaji Hiroki、Izumi Kiyoshi、Tsubouchi Kota、Yamashita Tatsuo
    • Journal Title

      International Journal of Data Science and Analytics

      Volume: -

    • DOI

      10.1007/s41060-018-0160-8

    • Related Report
      2018 Annual Research Report
    • Peer Reviewed
  • [Journal Article] The Demand for Money at the Zero Interest Rate Bound2018

    • Author(s)
      Tsutomu Watanabe, Tomoyoshi Yabu
    • Journal Title

      CARF Working Paper Series

      Volume: F-444

    • Related Report
      2018 Annual Research Report
    • Open Access
  • [Journal Article] Intertemporal Efficiency Does Not Imply a Common Price Forecast2018

    • Author(s)
      Atsushi Kajii, Shurojit Chatterji, Huaxia Zeng
    • Journal Title

      KIER discussion papers

      Volume: No. 999

    • Related Report
      2018 Annual Research Report
    • Open Access / Int'l Joint Research
  • [Journal Article] Reallocation Effects of Monetary Policy2018

    • Author(s)
      Oikawa Koki, Kozo Ueda
    • Journal Title

      RIETI Discussion Paper Series

      Volume: 18-E-056

    • Related Report
      2018 Annual Research Report
    • Open Access
  • [Journal Article] Estimating a Nonlinear New Keynesian Model with the Zero Lower Bound for Japan2018

    • Author(s)
      Iiboshi Hirokuni, Mototsugu Shintani, Kozo Ueda
    • Journal Title

      CAMA working paper series

      Volume: 37

    • Related Report
      2018 Annual Research Report
    • Open Access
  • [Presentation] 安全保障の視点からのソーシャルメディア分析2021

    • Author(s)
      水野貴之
    • Organizer
      内閣官房・内閣情報調査室セミナー
    • Related Report
      2020 Annual Research Report
    • Invited
  • [Presentation] Consumer Inventory and the Cost of Living Index: Theory and Some Evidence from Japan2020

    • Author(s)
      Watanabe Tsutomu
    • Organizer
      Fifth Annual JEN Conference
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] How Large is the Demand for Money at the ZLB? Evidence from Japan2020

    • Author(s)
      Watanabe Tsutomu
    • Organizer
      Fifth Annual JEN Conference
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] The Welfare Implications of Massive Money Injection: The Japanese Experience from 2013 to 20202020

    • Author(s)
      Watanabe Tsutomu
    • Organizer
      Thirty second AEPR conference
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Consumer Inventory and the Cost of Living Index: Evidence from Japan2020

    • Author(s)
      Watanabe Tsutomu
    • Organizer
      Meeting of the Group of Experts on Consumer Price Indices
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Personalized Pricing in Online Markets: Evidence from Korea2020

    • Author(s)
      Watanabe Tsutomu
    • Organizer
      Meeting of the Group of Experts on Consumer Price Indices
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Consumer Inventory and the Cost of Living Index: Theory and Some Evidence from Japan2020

    • Author(s)
      Watanabe Tsutomu
    • Organizer
      NBER Japan Project Meeting
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Consumers’ Price Beliefs, Central Bank Communication, and Inflation Dynamics2020

    • Author(s)
      Aoki Kosuke, Ichiue Hibiki, Okuda Tatsushi
    • Organizer
      日本経済学会
    • Related Report
      2020 Annual Research Report
  • [Presentation] Incomplete Information Robustness2020

    • Author(s)
      Morris Stephen, Ui Takashi
    • Organizer
      The Econoemtric Society / Bocconi University World Congress
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Consumer Inventory and the Cost of Living Index: Theory and Some Evidence from Japan2020

    • Author(s)
      Ueda Kozo
    • Organizer
      Econometric Society World Congress
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] SNSに広がる米中の分極化とエコーチェンバー - コロナは米中を分極化させたか? -2020

    • Author(s)
      水野貴之, 土井翔平, 栗崎周平, 豊田正史
    • Organizer
      2020年度第2回明治大学MIMS研究会「Data-driven Mathematical Sciences:経済物理とその周辺」
    • Related Report
      2020 Annual Research Report
  • [Presentation] Withコロナ,地域・産業の外出はどこまで回復したか?2020

    • Author(s)
      水野貴之, 大西立顕, 渡辺努
    • Organizer
      2020年度経済・社会への分野横断的研究会
    • Related Report
      2020 Annual Research Report
  • [Presentation] 因果チェーンとネットワーク学習によるソースごとのCOVID19に関する捉え方の違いの抽出2020

    • Author(s)
      久野遼平, 坂地泰紀
    • Organizer
      東京大学金融教育研究センター・日本銀行調査統計局共催ビッグデータフォーラム
    • Related Report
      2020 Annual Research Report
    • Invited
  • [Presentation] 経済ノレッジグラフとニュースを利用した社会的責任投資2020

    • Author(s)
      久野遼平
    • Organizer
      電子情報通信学会, 第16回テキストアナリティクス・シンポジウム
    • Related Report
      2020 Annual Research Report
    • Invited
  • [Presentation] Nondiagonal Mixture of Dirichlet Network Distributions for Analyzing a Stock Ownership Network2020

    • Author(s)
      Zhang Wenning, Hisano Ryohei, Ohnishi Takaaki, Mizuno Takayuki
    • Organizer
      Complex Networks 2020
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Identifying the Hierarchical Influence Structure Behind Smart Sanctions Using Network Analysis2020

    • Author(s)
      Hisano Ryohei, Iyetomi Hiroshi, Mizuno Takayuki
    • Organizer
      Social Informatics - 12th International Conference SocInfo 2020
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] 異質情報ネットワークを用いた社会的責任投資2020

    • Author(s)
      久野遼平
    • Organizer
      第11回計算社会科学とその周辺セミナ ー
    • Related Report
      2019 Annual Research Report
    • Invited
  • [Presentation] Word-level Contextual Sentiment Analysis with Interpretability2020

    • Author(s)
      Tomoki Ito, Kota Tsubouchi, Hiroki Sakaji, Kiyoshi Izumi, Tatsuo Yamashita
    • Organizer
      The Thirty-Fourth AAAI Conference on Artificial Intelligence (AAAI-20)
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Consumer Inventory and the Cost of Living Index: Evidence from Japan2020

    • Author(s)
      Tsutomu Watanabe
    • Organizer
      Meeting of the Group of Experts on Consumer Price Indices
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Personalized Pricing in Online Markets: Evidence from Korea2020

    • Author(s)
      Tsutomu Watanabe
    • Organizer
      Meeting of the Group of Experts on Consumer Price Indices
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Consumer Inventory and the Cost of Living Index: Theory and Some Evidence from Japan2020

    • Author(s)
      Tsutomu Watanabe
    • Organizer
      NBER Japan Project Meeting
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Detecting Stock Market Bubbles based on the Cross-Sectional Dispersion of Stock Prices2019

    • Author(s)
      Takayuki Mizuno, Takaaki Ohnishi, Tsutomu Watanabe
    • Organizer
      The 23rd Asia Pacific Symposium on Intelligent and Evolutionary Systems (IES 2019)
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Stock Price Analysis Using Combination of Analyst Reports and Several Documents2019

    • Author(s)
      Masahiro Suzuki, Toshiya Katagi, Hiroki Sakaji, Kiyoshi Izumi, Yasushi Ishikawa
    • Organizer
      The 2nd International Workshop on Cross-disciplinary Data Exchange and Collaboration (CDEC 2019), in conjunction with IEEE ICDM 2019
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Causal Sentence Extraction from Multilingual Texts Using End-to-End LSTM Models2019

    • Author(s)
      Yuta Niki, Hiroki Sakaji, Kiyoshi Izumi, Hiroyasu Matsushima
    • Organizer
      The 2nd International Workshop on Cross-disciplinary Data Exchange and Collaboration (CDEC 2019), in conjunction with IEEE ICDM 2019
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] The New Normal? Lessons from Japan2019

    • Author(s)
      Kiyohiko G. Nishimura
    • Organizer
      Business Arena Stockholmコンファレンス
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Economic Causal-Chain Search using Text Mining Technology2019

    • Author(s)
      Kiyoshi Izumi, Hiroki Sakaji
    • Organizer
      The First Workshop on Financial Technology and Natural Language Processing (FinNLP) in conjunction with IJCAI 2019
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Financial Text Data Analytics Framework for Business Confidence indices and Inter-Industry Relations2019

    • Author(s)
      Hiroki Sakaji, Ryota Kuramoto, Hiroyasu Matsushima, Kiyoshi Izumi, Takashi Shimada, Keita Sunakawa
    • Organizer
      The First Workshop on Financial Technology and Natural Language Processing (FinNLP) in conjunction with IJCAI 2019
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Learning Topic Models by Neighborhood Aggregation2019

    • Author(s)
      Ryohei Hisano
    • Organizer
      IJCAI 2019
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Reallocation Effects of Monetary Policy2019

    • Author(s)
      Koki Oikawa, Kozo Ueda
    • Organizer
      The Society for Economics Dynamics
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Economic Causal Chain and Predictable Stock Returns2019

    • Author(s)
      Kei Nakagawa, Shingo Sashida, Hiroki Sakaji, Kiyoshi Izumi
    • Organizer
      7th International Conference on Smart Computing and Artificial Intelligence (SCAI 2019)
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Analysis of Macro Economic Uncertainty from News Text with Financial Market2019

    • Author(s)
      Kyoto Yono, Kiyoshi Izumi, Hiroki Sakaji, Takashi Shimada, Hiroyasu Matsushima
    • Organizer
      7th International Conference on Smart Computing and Artificial Intelligence (SCAI 2019)
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] The Extraction of Future-Oriented Sentences from Annual Reports2019

    • Author(s)
      Yoshinori Tanaka, Syunya Kodera, Fumihito Sato, Hiroki Sakaji, Kiyoshi Izumi
    • Organizer
      7th International Conference on Smart Computing and Artificial Intelligence (SCAI 2019)
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Online and Offline Prices in Korea2019

    • Author(s)
      Tsutomu Watanabe
    • Organizer
      Bank of Korea Seminar
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Consumers' Price Beliefs, Central Bank Communication, and Inflation Dynamics2019

    • Author(s)
      Kosuke Aoki, Hibiki Ichiue, Tatsushi Okuda
    • Organizer
      25th International Conference Computing in Economics and Finance (The Society for Computational Economics)
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Measuring Macroeconomic Uncertainty from News Text by Supervised LDA for Investor’s Decision Making2019

    • Author(s)
      Yono Kyoto, Kiyoshi Izumi, Hiroki Sakaji, Takashi Shimada, Hiroyasu Matsushima
    • Organizer
      International Conference on Decision Economics (DECON)
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Decentralizability of Efficient Allocations with Heterogeneous Forecasts2019

    • Author(s)
      Atsushi Kajii
    • Organizer
      Asian Meeting of the Econometric Society
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] House Price Dispersion in Boom-Bust Cycles: Evidence from Tokyo2019

    • Author(s)
      Tsutomu Watanabe
    • Organizer
      2019 JEA Spring Meeting
    • Related Report
      2019 Annual Research Report
    • Invited
  • [Presentation] 経済因果チェーン検索のシステム紹介と応用2019

    • Author(s)
      和泉潔, 坂地泰紀
    • Organizer
      2019年度人工知能学会全国大会
    • Related Report
      2019 Annual Research Report
  • [Presentation] Supervised LDA モデルによるニューステキストを 用いたマクロ経済不確実性指数の構築2019

    • Author(s)
      余野京登,和泉潔,坂地泰紀,島田尚,松島裕康
    • Organizer
      2019年度人工知能学会全国大会
    • Related Report
      2019 Annual Research Report
  • [Presentation] 有価証券報告書からの未来志向 文の抽出2019

    • Author(s)
      小寺俊哉,田中良典,佐藤史仁,佐久間洋明,坂地泰紀,和泉潔
    • Organizer
      2019年度人工知能学会全国大会
    • Related Report
      2019 Annual Research Report
  • [Presentation] 新聞記事からの因果関係を考慮したア ナリストレポートの自動要約文生成2019

    • Author(s)
      高嶺航,和泉潔,坂地泰紀,松島裕康,島田尚,清水康弘
    • Organizer
      2019年度人工知能学会全国大会
    • Related Report
      2019 Annual Research Report
  • [Presentation] Term Structure Models During the Global Financial Crisis: A Parsimonious Text Mining Approach2019

    • Author(s)
      Kiyohiko G. Nishimura
    • Organizer
      D-TEA (Decision: Theory, Experiments, and Applications)
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Stockpiling and Price Index for Storable Goods2019

    • Author(s)
      Tsutomu Watanabe, Kozo Ueda, Kota Watanabe
    • Organizer
      16th Meeting of the Ottawa Group
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Japanese Long-Term Interest Rate Forecast Considering the Connection between the Japanese and US Yield Curve2019

    • Author(s)
      Yoshiyuki Suimon, Hiroki Sakaji, Kiyoshi Izumi, Takashi Shimada, Hiroyasu Matsushima
    • Organizer
      2019 IEEE Conference on Computational Intelligence for Financial Engineering and Economics
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Word-level Sentiment Visualizer for Financial Documents2019

    • Author(s)
      Tomoki Ito, Kota Tsubouchi, Hiroki Sakaji, Tatsuo Yamashita, Kiyoshi Izumi
    • Organizer
      2019 IEEE Conference on Computational Intelligence for Financial Engineering and Economics
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Extraction of Focused Topic and Sentiment of Financial Market by using Supervised Topic Model for Price Movement Prediction2019

    • Author(s)
      Kyoto Yono, Kiyoshi Izumi, Hiroki Sakaji, Hiroyasu Matsushima, Takashi Shimada
    • Organizer
      2019 IEEE Conference on Computational Intelligence for Financial Engineering and Economics
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] The Formation of Consumer Inflation Expectations: Evidence from Japan's Deflation Experience2019

    • Author(s)
      Tsutomu Watanabe
    • Organizer
      BOJ-UTokyo Joint Conference on Issues on Recent Changes in Price Dynamics
    • Related Report
      2019 Annual Research Report
    • Invited
  • [Presentation] Consumers' Price Beliefs, Central Bank Communication, and Inflation Dynamics2019

    • Author(s)
      Kosuke Aoki, Hibiki Ichiue, Tatsushi Okuda
    • Organizer
      BOJ-UTokyo Joint Conference on Issues on Recent Changes in Price Dynamics
    • Related Report
      2019 Annual Research Report
  • [Presentation] Decentralizability of Efficient Allocations with Heterogeneous Forecasts2019

    • Author(s)
      Atsushi Kajii
    • Organizer
      SMU Economic Theory Workshop
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Intertemporal Efficiency Does Not Imply a Common Price Forecast: a Re-Examination of Rational Expectations2019

    • Author(s)
      Atsushi Kajii
    • Organizer
      New York University Abu Dhabi, Economics Seminar
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Structural Reforms, Innovation and Economic Growth2019

    • Author(s)
      Kosuke Aoki, Naoko Hara, Maiko Koga
    • Organizer
      Annual Meeting of American Economic Association Atlanta
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Intertemporal Efficiency Does Not Imply a Common Price Forecast2018

    • Author(s)
      Atsushi Kajii
    • Organizer
      The University of Hong Kong, Faculty of Business and Economics Seminar
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Intertemporal Efficiency Does Not Imply a Common Price Forecast2018

    • Author(s)
      Atsushi Kajii
    • Organizer
      The Chinese University of Hong Kong, Department of Economics Seminar
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Intertemporal Efficiency Does Not Imply a Common Price Forecast2018

    • Author(s)
      Atsushi Kajii
    • Organizer
      Hong Kong Baptist University, School of Business Seminar
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Why are Interest Rates So Low? Secular Stagnation vs. Secular Innovation2018

    • Author(s)
      Tsutomu Watanabe
    • Organizer
      Symposium on Building the Financial System of the 21st Century: An Agenda for Japan and the United states
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] Inflation Dynamics in Japan and Korea2018

    • Author(s)
      Tsutomu Watanabe
    • Organizer
      Bank of Korea Workshop on Scanner Data
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] ビッグデータ・機械学習と経済分析2018

    • Author(s)
      和泉潔
    • Organizer
      2018年度日本経済学会秋季大会
    • Related Report
      2018 Annual Research Report
    • Invited
  • [Presentation] Analyzing Economic Texts using Network Based Topic Models2018

    • Author(s)
      Ryohei Hisano
    • Organizer
      23rd International Conference on Computational Statistics
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] The Effects of Information Reliability on Financial Market2018

    • Author(s)
      Joomi Jun, Takayuki Mizuno
    • Organizer
      The 23rd Annual Workshop on the Economic Science with Heterogeneous Interacting Agents
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Current Economic Conditions and Long-Run Effects of Extraordinary Monetary Policy As Seen From Japan2018

    • Author(s)
      Kiyohiko G. Nishimura
    • Organizer
      2018 Financial Management Association European Conference
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research / Invited
  • [Presentation] 金融レポート、およびマクロ経済指数による日銀センチメント指数の構築2018

    • Author(s)
      余野 京登, 和泉 潔, 坂地 泰紀
    • Organizer
      人工知能学会全国大会2018
    • Related Report
      2018 Annual Research Report
  • [Presentation] ロイターニュース記事からの因果関係抽出の試み2018

    • Author(s)
      坂地 泰紀, ベネットジェイスン, 宮尾 祐介, 和泉 潔
    • Organizer
      人工知能学会全国大会2018
    • Related Report
      2018 Annual Research Report
  • [Book] 医学のあゆみ 医療におけるフェイクニュース対策 - SNSにおいて信用できる情報とは2020

    • Author(s)
      水野貴之
    • Total Pages
      1029
    • Publisher
      医歯薬出版株式会社
    • Related Report
      2020 Annual Research Report
  • [Book] 統計 危機と改革2020

    • Author(s)
      西村淸彦, 山澤成康, 肥後雅博
    • Total Pages
      304
    • Publisher
      日経BP 日本経済新聞出版本部
    • ISBN
      9784532135089
    • Related Report
      2020 Annual Research Report
  • [Book] Property Price Index: Theory and Practice, Advances in Japanese Business and Economics2019

    • Author(s)
      Tsutomu Watanabe, Erwin Diewert, Kiyohiko Nishimura, Chihiro Shimizu
    • Total Pages
      360
    • Publisher
      Springer
    • ISBN
      9784431559405
    • Related Report
      2019 Annual Research Report
  • [Book] 現代経済学の潮流 2019「ビッグデータ・機械学習と経済分析」2019

    • Author(s)
      新谷元嗣,伊神満,北川透,和泉潔,宮川大介
    • Total Pages
      264
    • Publisher
      東洋経済新報社
    • ISBN
      9784492315170
    • Related Report
      2019 Annual Research Report
  • [Book] 現代経済学の潮流2018「情報設計問題とLQGゲーム」2018

    • Author(s)
      宇井貴志
    • Total Pages
      276
    • Publisher
      東洋経済新報社
    • ISBN
      4492315098
    • Related Report
      2018 Annual Research Report
  • [Remarks] 「対話型中央銀行制度の設計」ホームページ

    • URL

      https://www.centralbank.e.u-tokyo.ac.jp/

    • Related Report
      2020 Annual Research Report 2019 Annual Research Report 2018 Annual Research Report

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Published: 2018-06-12   Modified: 2022-12-28  

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