Academic papers

• Exchange Rate Instability, Real Options, and International Trade. Ph.D. dissertation, University of Cambridge. 2002.
• Japan in the World Economy: An Introduction to International Economics, University Education Press. 2020.

Academic papers

• "Exchange rate uncertainty and pass-through," Osaka City University Economic Review 38: 1-26. 2003.
• "Exchange rate variability, operating risk, and sequential foreign direct investment," Osaka City University Economic Review 38: 27-46. 2003.
• "Should East Asia basket peg?" 2003.
• "Exchange rate uncertainty and pass-through: does exchange rate uncertainty matter?" Osaka City University Economic Review 39: 21-44. 2004.
• "Optimum currency area and openness," in H. Mitsuo (ed.), Exchange Rate Regimes in Developing Countries, IDE-JETRO. 2004.
• "Exchange rate regimes in Asia: dispelling the myth of soft dollar pegs," Journal of the Asia Pacific Economy 10(1): 69-95. 2005.
• "Is the yen/dollar exchange rate really responsible for East Asia's export and business cycles?" The World Economy 28(7): 1509-1537. 2005.
• "Fluctuations in the yen/dollar exchange rate, East Asia's business cycle, and Asian financial crisis," in H. Mitsuo (ed.), New Developments of the Exchange Rate Regimes in Developing Countries, Palgrave-Macmillan. 2006.
• "Trade competition and real exchange rates," in H. Mitsuo (ed.), New Developments of the Exchange Rate Regimes in Developing Countries, Palgrave-Macmillan. 2006.
• "Trade, exchange rates, and macroeconomic dynamics in East Asia: Why the electronics cycle matters," Osaka City University Economic Review 41: 13-62. 2006.
• "Trade and business cycle correlations in Asia-Pacific," Journal of Asian Economics 17(4): 622-645. 2006.
• "Monetary policy, international liquidity, and central bank balance sheet in emerging market countries," in H. Mitsuo (ed.), Financial Fragilities in Developing Countries, IDE-JETRO. 2007.
• "What's so special about China's exports? A comment," China & World Economy 15(5): 18-37. 2007.
• "China's impact on the exports of other Asian countries: A note," Economics Bulletin 6(5): 1-15. 2008.
• "Emerging market economies and the IMF," Osaka City University Economic Review 43: 36-71. 2008.
• "Whither IIT?" Journal of International and Global Economic Studies 1(2): 26-56. 2008.
• "A note on using Comtrade for empirical trade research," Economics Bulletin 29(2): 1346-1360. 2009.
• "Trade, production and international business cycle comovement," International Journal of Applied Economics 6(1): 11-40, 2009.
• "Understanding Japan's export dynamics," 2009.
• "Understanding Japan's import dynamics," 2010.
• "Whither IIT in East Asia?," Osaka City University Economic Review 48: 89-115. 2011.
• "Reforming Japan's foreign exchange policy," World Economics 13(1): 83-98, 2012.
• "Deflation? What deflation? Statistical origins of Japan's declining price levels," World Economics 16(2), 2015
• "Japan's monetary policy misadventure," World Economics 17(2), 2016

Other writings

• "Case for yuan revaluation based on false assumptions," Nikkei Weekly August 11, 2003.
• Book review, Blomstrom et al. (eds.), Structural Impediments to Growth in Japan, University of Chicago Press. The World Economy 27(8): 1317-1318. 2004.
• Book review, Ronald McKinnon, Exchange Rates under the East Asian Dollar Standard: Living with Conflicted Virtues, MIT Press. The Developing Economies 43(4): 514-518. 2005.
• "Japan's foreign exchange misadventure," East Asia Forum, 2012.
• "Japan is sinking in a sea of money," East Asia Forum, 2016.