Junko SHIMIZU

Profile

[Education]
Graduated from the Department of Economics at Hitotsubashi University (1982).
Graduated from Hitotsubashi University. Graduate School of Commerce and Management: Ph.D. (March 2004)

[Work Experience]
Chase Manhattan Bank
The Industrial Bank of Japan, Limited (London Branch, Head Office)
Bank of America (London Branch)
Morgan Stanley (Tokyo Branch)

After receiving the Ph.D.:
Assistant at the Graduate School of Commerce and Management, Hitotsubashi University (2004-2006).
Associate Professor at the Department of Economics, Meikai University (2006-2008).
Associate Professor at the School of Commerce, Senshu University (2008-2012).
Professor at the Faculty of Economics, Gakushuin University (2012-Present).

Contact Information

E-mail：

Research Fields

International Finance

Publications

[Refereed Articles]

1. "Industry-specific Real Effective Exchange Rates and Export Price Competitiveness: The Cases of Japan, China and Korea," 2013, Asian Economic Policy Review, 8(2), p.298-321. (with Kiyotaka Sato, Nagendra Shrestha and Zhaoyong Zhang)
2. Industry-specific Real Effective Exchange Rates and Export Price Competitiveness: The Cases of Japan, China and Korea,"（with Kiyotaka Sato, Nagendra Shrestha and Shajuan Zhang）, Asian Economic Policy Review, 8(2), Issue 2, December 2013, pp. 298-321.
3. "Competitiveness, Productivity, and Industry-Specific Effective Exchange Rate of Asian Industries", 2015, Asian Economic Journal, Vol.29, Issue 2, pp. 181-214. (with Keiko Ito)
4. "Do exchange rate arrangements and capital controls influence international capital flows and housing prices in Asia?", 2015, Journal of Asian Economics, Volume 39, August 2015, Pages 1-18. (with Sanae Ohno)
5. "Abenomics, Yen Depreciation, Trade Deficit and Export Competitiveness", 2015, RIETI Discussion Paper,15-E-020 (with Kiyotaka Sato)
6. "Exchange Rate Exposure and Exchange Rate Risk Management: The case of Japanese exporting firms," 2015, NBER Working Paper 21040, (with Takatoshi Ito, Satoshi Koibuchi, and Kiyotaka Sato)
7. "Choice of Invoice Currency in Global Production and Sales Networks: The case of Japanese overseas subsidiaris," 2015, RIETI Discussion Paper 15-E-080.(with Takatoshi Ito, Satoshi Koibuchi, and Kiyotaka Sato)
8. "Industry-specific exchange rate volatility and intermediate goods trade in Asia," (Kiyotaka Sato, Junko Shimizu, Nagendra Shrestha and Shajuan Zhang), 2016 Feb, Scottish Journal of Political Economy, Vol 63 Issue 1, 89-109.
9. "Exchange Rate Exposure and Exchange Rate Risk Management: The case of Japanese exporting firms," 2016, Journal of The Japanese and International Economies, 41: 17-29. (with Takatoshi Ito, Satoshi Koibuchi, and Kiyotaka Sato)
10. "The International Use of the Renminbi: Evidence from Japanese firm-level data" (with Kiyotaka Sato), 2016, RIETI Discussion Paper 16-E-033.
11. "Choice of Invoice Currency in Japanese Trade: Industry and commodity level analysis" 2016, RIETI Discussion Paper 16-E-031 (with Takatoshi Ito, Satoshi Koibuchi, and Kiyotaka Sato)
12. "Internationalization of the yen: where has it gone?" Hitotsubashi University and IMF Joint Seminar on 'The Future of International Monetary System for Asia,' March8-9 2017, Tokyo.
13. "Managing Currency Risk- How Japanese Firms Choose Invoicing Currency," 2018, Edward Elgar (ISBN:9781785360121) (with Takatoshi Ito, Satoshi Koibuchi, and Kiyotaka Sato)
14. "International use of the renminbi for invoice currency and exchange risk management: Evidence from the Japanese firm-level data," 2018, (with K. Sato), North American Journal of Economics and Finance, Volume 46, Pages 286-301.
15. "Regional Integration and Use of Local Currencies in the Region," Chapter 2, AMRO Thematic Studies: Local Currency Contribution to the Chiang Mai Initiative Multilateralisation, 2019, (with Jae Young Lee and Jinho Choi) https://www.amro-asia.org/local-currency-contribution-to-the-chiang-mai-initiative-multilateralisation/
16. "New empirical assessment of export price competitiveness: Industry-specific real effective exchange rates in Asia," 2020, (with K. Sato, N. Shrestha and S. Zhang) North American Journal of Economics and Finance, Volume 54.
17. "The Dollar, the Yen, or the RMB? A Survey Data Analysis of Invoicing Currencies among Japanese Overseas Subsidiaries" 2021, RIETI Discussion Paper 21-E-016 (with Takatoshi Ito, Satoshi Koibuchi, Kiyotaka Sato, and Taiyo Yoshimi)

Message

We see the movement of the yen-dollar exchange rates on the news almost every day. Nowadays, "knowing the exchange rate" is an essential and important part of our lives. The exchange rate is an economic phenomenon that affects the conduct of all economic agents: from the perspective of household finances, it affects commodity price, asset management and overseas travel; from a corporate viewpoint, it affects building trade and overseas production networks, financing methods and business acquisitions; and, from a governmental viewpoint, it affects selecting an exchange rate regime, the movement of international capital flow and entering economic partnership agreements. In modern society, which is characterized by intensifying economic globalization in developed and emerging countries, cultivating the ability to logically contemplate the impact created by changes in the exchange rate will become an essential ability for any occupation you decide to take in the future. I hope you will engage in your studies with curiosity and interest.