Graduate School of Economics
KANO Takashi

Books and Other Publications

1. 資産価格としての為替レートー近年為替レート分析の諸相ー
加納隆 (Sole author)
三菱経済研究所 2022.3 (ISBN : 9784943852841)
2. Trends in Modern Economics 2021
宇井, 貴志, 加納, 隆, 西山, 慶彦, 林, 正義 (Joint editor)
東洋経済新報社 2021.12 (ISBN : 9784492315385)
3. 現代経済学の潮流2020
宇井貴志, 加納隆, 土居潤子, 西山慶彦 (Edit)
東洋経済新報社 2021.2 (ISBN : 4492315314)
4. 現代経済学の潮流2019
宇井貴志, 加納隆, 原千秋, 渡部敏明 (Edit)
東洋経済新報社 2019.8

Papers

1. Lost in Monetary Translation: Monetary Singleness and Relative Price Distortions
Kazuko Kano, Takashi Kano
Hitotsubashi Institute for Advanced Study Discussion Paper HIAS-E-15 2026.1
doi
2. Distribution-Matching Posterior Inference for Incomplete Structural Models
Takashi Kano
arXiv preprint, arXiv:2601.01077 2026.1
doi
3. 世界経済における日本の姿:『貿易立国』から『資産運用立国』へ
加納 隆
一橋大学経済学部編『新・教養としての経済学:より良い未来を選択するために』1-5 2025.11
4. Relative Price Distortion in a Small Open Economy: Evidence from 1970s Okinawa
Kazuko Kano, Takashi Kano
SSRN 5402429 2025.8
5. Trend Inflation and Exchange Rate Dynamics: A New Keynesian Approach (Peer-reviewed)
Takashi Kano
Journal of International Money and Finance Vol.146,pp.103128 2024.7
doi
6. Deciphering the Neo-Fisherian Effect
Hafedh Bouakez, Takashi Kano
Hitotsubashi Institute for Advanced Study Discussion Paper E-140 2024.6
doi
7. Posterior Inferences on Incomplete Structural Models: the Minimal Econometric Interpretation
Takashi Kano
Hitotsubashi Institute for Advanced Study Discussion Paper E-128 2023.3
8. The price of distance: pricing-to-market and geographic barriers (Peer-reviewed)
Kazuko Kano, Takashi Kano, Kazutaka Takechi
Journal of Economic Geography Vol.22,No.4,pp.873-899 2022.7
doi Link
9. Welfare Costs of Exchange Rate Fluctuations: Evidence from the 1972 Okinawa Reversion
Kazuko Kano, Takashi Kano
Hitotsubashi Institute for Advanced Study Discussion Paper E-114 2021.11
10. Exchange Rates and Fundamentals: A General Equilibrium Exploration (Peer-reviewed)
Kano, T.
Journal of Money, Credit and Banking Vol.53,pp.95-117 2020
doi Link
11. Real Exchange Rates and Currency Regimes: Implications from 1972 Okinawa Reversion (jointly worked) (Peer-reviewed)
Kazuko Kano, Takashi Kano
Japanese Economic Association eds.,''Current Trends in Economics'' pp.93-132 2018.8
12. The first arrow hitting the currency target: A long-run risk perspective (Peer-reviewed)
Takashi Kano, Kenji Wada
JOURNAL OF INTERNATIONAL MONEY AND FINANCE Vol.74,pp.337-352 2017.6
doi
13. Trend inflation and exchange rate dynamics: a New Keynesian approach
Takashi Kano
Centre for Applied Macroeconomic Analysis (CAMA) Working Paper 74/2016 2016.12
14. Exchange rates and fundamentals: a general equilibrium exploration
Takashi Kano
Hitotsubashi Institute for Advanced Study Discussion Paper Series E-19 2016.3
15. Introduction on International Finance in the Global Markets
Aoki, K., Fukuda, S.-I., Hoshi, T., Kano, T.
Journal of the Japanese and International Economies Vol.42 2016
doi Link
16. An equilibrium foundation of the Soros chart (Peer-reviewed)
Takashi Kano, Hiroshi Morita
JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES Vol.37,pp.21-42 2015.9
doi
17. 「為替レートと金融政策:アベノミクス第一の矢の理解に向けて」
加納 隆
『シリーズ「検証:アベノミクス」第3回』,日経研月報,Vol.437,11月,日本経済研究所 2014.11
18. 「マクロ計量分析におけるDSGEモデルの役割:『最小解釈』の導入と応用」 (Peer-reviewed)
加納 隆
日本統計学会和文誌 Vol.44,No.1,pp.159-187 2014.4
19. Business Cycle Implications of Internal Consumption Habit for New Keynesian Models (Peer-reviewed)
Takashi Kano, James M. Nason
JOURNAL OF MONEY CREDIT AND BANKING Vol.46,No.2-3,pp.519-544 2014.3
doi
20. Multilateral adjustment, regime switching and real exchange rate dynamics (Peer-reviewed)
Jeannine Bailliu, Ali Dib, Takashi Kano, Lawrence Schembri
NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE Vol.27,pp.68-87 2014.1
doi
21. 「為替相場への緩和効果は不鮮明」
加納 隆
『ゼミナール「検証・アベノミクス」シリーズ第3回』,日本経済新聞朝刊,10月9日 2013.10
22. Exaggerated death of distance: Revisiting distance effects on regional price dispersions (Peer-reviewed)
Kazuko Kano, Takashi Kano, Kazutaka Takechi
JOURNAL OF INTERNATIONAL ECONOMICS Vol.90,No.2,pp.403-413 2013.7
doi
23. Exchange Rates and Fundamentals: Closing a Two-Country Model
Takashi Kano
Discussion Paper Series 2013-07, Graduate School of Economics, Hitotsubashi University 2013.7
doi
24. 「為替レートの決まり方:為替で確実に儲ける方法!?」 (共著)
加納 隆
一橋大学経済学部編『教養としての経済学: 生き抜く力を培うために』, 2-6節, 有斐閣 2013.2
25. The Price of Distance: Producer Heterogeneity, Pricing to Market, and Geographic Barriers
Kazuko Kano, Takashi Kano, Kazutaka Takechi
Global COE Hi-Stat Discussion Paper Series, Institute for Economic Research, Hitotsubashi University No.246 2013
doi Link
26. Business Cycle Implications of Internal Consumption Habit for New Keynesian Models
Takashi Kano, James M. Nason
Discussion Paper Series 2012-08, Graduate School of Economics, Hitotsubashi University 2010
doi Link
27. Habit formation and the present-value model of the current account: Yet another suspect (Peer-reviewed)
Kano, T.
Journal of International Economics Vol.78,No.1,pp.72-85 2009.5
doi Link
28. Tests of the present-value model of the current account: a note (Peer-reviewed)
Hafedh Bouakez, Takashi Kano
APPLIED ECONOMICS LETTERS Vol.16,No.12,pp.1215-1219 2009
doi
29. Business Cycle Implications of Internal Consumption Habit for New Keynesian Models
Takashi Kano, James M. Nason
2009
doi
30. Business Cycle Implications of Internal Consumption Habit for New Keynesian Models
Takashi Kano, James M. Nason
2009
doi
31. A structural VAR approach to the intertemporal model of the current account (Peer-reviewed)
Takashi Kano
JOURNAL OF INTERNATIONAL MONEY AND FINANCE Vol.27,No.5,pp.757-779 2008.9
doi
32. Terms of trade and current account fluctuations: The Harberger-Laursen-Metzler effect revisited (Peer-reviewed)
Hafedh Bouakez, Takashi Kano
JOURNAL OF MACROECONOMICS Vol.30,No.1,pp.260-281 2008.3
doi
33. The Euro and trade: is there a positive effect? (jointly worked)
Takashi Kano, Tamara Gomes, Chris Graham, John Helliwell, John Murray, Larry Schembri
mimeo, August 2006, the Bank of Canada 2006.8
34. Learning-by-doing or habit formation? (jointly worked) (Peer-reviewed)
Takashi Kano, Hafedh Bouakez
Review of Economic Dynamics Vol.9,No.3,pp.508-542 2006.7
35. Learning-by-doing or habit formation? (Peer-reviewed)
Hafedh Bouakez, Takashi Kano
REVIEW OF ECONOMIC DYNAMICS Vol.9,No.3,pp.508-524 2006.7
doi
36. Tests of the Present-Value Model of the Current Account: A Monte Carlo Study
Hafedh Bouakez, Takashi Kano
2006
doi
37. Terms of trade and current account fluctuations: evidence from Canada (jointly worked)
Takashi Kano, Hafedh Bouakez
Canada in the Global Economy: proceedings of the 13th annual economic conference of the Bank of Canada 2005.7
38. A Structural VAR Approach to the Intertemporal Model of the Current Account
Takashi Kano
2005
doi
39. International price linkage within a region: The case of East Asia (Peer-reviewed)
S Fukuda, T Kano
JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES Vol.11,No.4,pp.643-666 1997.12
40. 経済統合と価格の国際的連関:東アジアを例として (共著) (Peer-reviewed)
加納 隆, 福田 慎一
三田学会雑誌 Vol.90,No.2,pp.209-234 1997.7
41. インフレーションと経済成長
加納 隆
浅子和美,大瀧雅之編『現代マクロ経済動学』,第5章,東京大学出版会 1997.4

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Misc.

1. Economic Integration and International Price Linkage : A Case of East Asia (3 MNE and International Linkages) (New Development of Theoretical and Empirical Research on Foreign Direct Investment)
Kano Takashi, Fukuda Shin-ichi
Mita journal of economics Vol.90,No.2,pp.407-432 1997.7
Link

Presentations

No. Name of subject/Conference Name Year Site
1. Posterior inferences on incomplete structural models: the minimal econometric interpretation(European Summer Meetings of Econometric Society, Erasmus University, Rotterdam, Netherlands)
Holding date :
Presentation date : 2024.8
2. Posterior inferences on incomplete structural models: the minimal econometric interpretation(EcoSta 2024, Beijing Normal University, Beijing, China)
Holding date :
Presentation date : 2024.7
3. Posterior inferences on incomplete structural models: the minimal econometric interpretation(North American Summer Meetings of Econometric Society, Vanderbilt University, Nashville, TN, United States)
Holding date :
Presentation date : 2024.6
4. Posterior inferences on incomplete structural models: the minimal econometric interpretation(8th International Workshop on Financial Markets and Nonlinear Dynamics, Paris, France,)
Holding date :
Presentation date : 2024.5
5. Posterior inferences on incomplete structural models: the minimal econometric interpretation(25th International Conference on Computational Statistics (Compstat) 2023, Birkbeck, University of London, UK)
Holding date :
Presentation date : 2023.8
6. Posterior inferences on incomplete structural models: the minimal econometric interpretation(9th Annual Conference of the International Association for Applied Econometrics (IAAE) 2023, BI Norwegian Business School, Oslo, Norway)
Holding date :
Presentation date : 2023.6
7. Posterior inferences on incomplete structural models: the minimal econometric interpretation(日本経済学会春季大会)
Holding date :
Presentation date : 2023.5
8. Welfare Costs of Exchange Rate Fluctuations: Evidence from 1972 Okinawa Reversion(28th International Conference of the Society for Computational Economics (CEF 2022), Southern Methodist University, Dallas, Texas, the United States)
Holding date :
Presentation date : 2022.7
9. Welfare Costs of Exchange Rate Fluctuations: Evidence from 1972 Okinawa Reversion(23rd Macro Conference, University of Tokyo, Tokyo)
Holding date :
Presentation date : 2021.12
10. On Posterior Inferences of DSGE Models: The Minimal Econometric Interpretation(12th International Conference on Computational and Financial Econometrics, Senate House, University of London, London, the United Kingdom)
Holding date :
Presentation date : 2019.12
11. Searching for Currency Regime Effects on Real Exchange Rate Adjustments: 1972 Okinawa Reversion(72nd European Meeting of the Econometric Society, University of Manchester, Manchester, United Kingdom)
Holding date :
Presentation date : 2019.8
12. Searching for Currency Regime Effects on Real Exchange Rate Adjustments: 1972 Okinawa Reversion(Canadian Economic Association Meetings, Banff, Canada)
Holding date :
Presentation date : 2019.6
13. Searching for Currency Regime Effects on Real Exchange Rate Adjustments: 1972 Okinawa Reversion(North American Summer Meetings of Econometric Society, University of Washington, Seattle, United States)
Holding date :
Presentation date : 2019.6
14. Searching for Currency Regime Effects on Real Exchange Rate Adjustments: 1972 Okinawa Reversion(1st Australasian Conference of International Macroeconomics, Auckland, New Zealand)
Holding date :
Presentation date : 2019.2
15. Trend Inflation and Exchange Rate Dynamics: A New Keynesian Approach(71st European Meeting of the Econometric Society, University of Cologne, Cologne, Germany)
Holding date :
Presentation date : 2018.8
16. Trend Inflation and Exchange Rate Dynamics: A New Keynesian Approach(EcoMod2018, Department of Economics, Ca’ Foscari University of Venice, Venice, Ital)
Holding date :
Presentation date : 2018.7
17. Trend Inflation and Exchange Rate Dynamics: A New Keynesian Approach(Canadian Economic Association Meetings, McGill University, Montreal, Canada)
Holding date :
Presentation date : 2018.6
18. Real exchange rates and currency regimes: Implications from 1972 Okinawa reversion(2017 Fall Meetings of the Japanese Economic Association)
Holding date :
Presentation date : 2017.9.9
Aoyama Gakuin University, Tokyo, Japan
19. Trend inflation and exchange rate dynamics: a new Keynesian approach(2017 Workshop of the Australasian Macroeconomics Society)
Holding date :
Presentation date : 2017.8
Australian National University, Canberra, Australia
20. Trend inflation and exchange rate dynamics: a new Keynesian approach(23rd International Conference of the Society for Computational Economics (CEF 2017))
Holding date :
Presentation date : 2017.7
Fordham University, New York, the United States
21. Trend Inflation and Exchange Rate Dynamics: a new Keynesian approach(3rd International Workshop on Financial Markets and Nonlinear Dynamics)
Holding date :
Presentation date : 2017.6
ESSCA, Paris, France
22. -(10th International Conference on Computational and Financial Econometrics)
Holding date :
Presentation date : 2016.12.10
Higher Technical School of Engineering, University of Seville, Sevillie, Spain
23. -(Hitotsubashi Summer Institute 2016)
Holding date :
Presentation date : 2016.8.5
一橋大学経済学部
24. -(JIMF-Tokyo Conference: ''The Pacific Rim and the Global Economy: Future Financial and Macro Challenge'')
Holding date :
Presentation date : 2016.7.25
東京大学経済学部
25. -(Canadian Economic Association Meetings)
Holding date :
Presentation date : 2016.6.4
University of Ottawa, Ottawa, Canada
26. -(AJRC-HIAS Conference on Recent Issues in Macroeconomics and Finance)
Holding date :
Presentation date : 2016.3.21
Crawford School of Public Policy, Australian National University, Canberra, Australia,
27. -(HKUST-Keio-HKIMR Conference on Exchange Rates and Macroeconomics)
Holding date :
Presentation date : 2016.3.17
Hong Kong Monetary Authority and Hong Kong University of Science and Technology, Hong Kong
28. -(25th NBER-TCER-CEPR Conference on ''International Finance in the Global Markets'')
Holding date :
Presentation date : 2015.12.17
東京大学経済学部
29. -(9th International Conference on Computational and Financial Econometrics)
Holding date :
Presentation date : 2015.12.13
Senate House, University of London, London, the United Kingdom
30. -(2015 HIAS-LSE Joint Trade Workshop)
Holding date :
Presentation date : 2015.11.19
London School of Economics and Political Science, London, the United Kingdom
31. -(2nd International Workshop on Financial Markets and Nonlinear Dynamics)
Holding date :
Presentation date : 2015.6.5
ESSCA, Paris, France
32. -(Conference on Macroeconomic Issues)
Holding date :
Presentation date : 2015.5.22
西江大学経済学部,韓国ソウル市
33. -(20th International Conference of the Society for Computational Economics (CEF 2014))
Holding date :
Presentation date : 2014.6.22
Oslo, Norway
34. -(日本経済学会春季大会)
Holding date :
Presentation date : 2014.6.15
同志社大学
35. -(Canadian Economic Association Meetings)
Holding date :
Presentation date : 2014.6.1
Simon Fraser University, Vancouver, Canada
36. 「検証:アベノミクス」(TCERコンファレンス)
Holding date :
Presentation date : 2014.3.7
37. -(Summer Workshop on Economic Theory)
Holding date :
Presentation date : 2013.8.10
北海道大学
38. ,日本学術会議経済学委員会数量的経済政策分析分科会チュートリアル・セッション「マクロ時系列分析」(日本経済学会春季大会)
Holding date :
Presentation date : 2013.6.1
富山大学
39. -(North American Summer Meetings of Econometrics Society)
Holding date :
Presentation date : 2011.6.10
ワシントン大学(セントルイス)
40. -(Canadian Economic Association Meetings)
Holding date :
Presentation date : 2011.6.5
オタワ大学
41. -(7th Seoul National University-University of Tokyo Joint Conference)
Holding date :
Presentation date : 2010.10.29
ソウル大学校
42. -(Summer Workshop of Economic Theory)
Holding date :
Presentation date : 2010.8.2
北海道大学
43. -(Tokyo Macro Workshop)
Holding date :
Presentation date : 2010.7.17
東京大学

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Research Projects

No. Research subject Research item(Awarding organization, System name) Year
1. 通貨体制の経済効果:1972年沖縄本土復帰時のマイクロデータを用いた実証
基盤研究(B)
( Awarding organization: 日本学術振興会 System name: 科学研究費助成事業 )
2023.4 - 2028.3
2. The construction of new uncertainty indicators and theoretical and econometric analysis of their impact on financial markets and the macroeconomy
Grant-in-Aid for Scientific Research (A)
( Awarding organization: Japan Society for the Promotion of Science System name: Grants-in-Aid for Scientific Research )
2023.4 - 2028.3
3. 通貨体制の経済効果:1972年沖縄本土復帰時のマイクロデータを用いた実証
基盤研究(B)
( Awarding organization: 日本学術振興会 System name: 科学研究費助成事業 基盤研究(B) )
2023.4 - 2028.3
4. 家庭内在庫データによる動学的需要分析
基盤研究(C)
( Awarding organization: 日本学術振興会 System name: 科学研究費助成事業 )
2023.4 - 2028.3
5. Econometric analysis of risk of asset price fluctuations and business cycles using big and high-frequency data
Grant-in-Aid for Scientific Research (A)
( Awarding organization: Japan Society for the Promotion of Science System name: Grants-in-Aid for Scientific Research )
2020.4 - 2023.3
6. 為替レート変動の構造・均衡分析:マクロとマイクロデータからの包括的アプローチ
基盤研究(B)
( Awarding organization: 日本学術振興会 System name: 科学研究費助成事業 )
2017.4 - 2022.3
7. Building New Macroeconometric Models with Applications to Economic Forecasting Using Big Data
Grant-in-Aid for Scientific Research (A)
( Awarding organization: Japan Society for the Promotion of Science System name: Grants-in-Aid for Scientific Research )
2017.4 - 2020.3
8. マクロ動学的確率的一般均衡モデルの統計的推定および評価方法の研究
基盤研究(B)
( Awarding organization: 日本学術振興会 System name: 科学研究費助成事業 )
2012.4 - 2016.3
9. 公募研究「マイクロデータを用いた輸送コストの経済分析」
日本学術振興会グローバルCOEプログラム「社会科学の高度統計・実証分析拠点構築」
( System name: 科学研究費助成事業 )
2012.4 - 2013.3
10. 企業の価格設定行動

( Awarding organization: 公益社団法人日本経済研究センター System name: 共同研究(国内共同研究) )
2011.4 - 2014.3
11. マクロ動学的確率的一般均衡モデルのベイズ的推論に関する考察

( Awarding organization: 財団法人清明会 System name: 共同研究 )
2011.4 - 2013.3
12. Empirical investigation of price determination with micro data
2008.4 -
13. Imperfect information and learning in foreign exchange rate fluctuations
Grant-in-Aid for Young Scientists (B)
( Awarding organization: Japan Society for the Promotion of Science System name: Grants-in-Aid for Scientific Research )
2008.4 - 2011.3
14. 企業の価格設定行動

( Awarding organization: 財団法人二十一世紀文化学術財団 System name: 共同研究(国内共同研究) )
2008.4 - 2010.3
15. Imperfect information and learning in foreign exchange rate fluctuations
Grant-in-Aid for Young Scientists (B)
( Awarding organization: Japan Society for the Promotion of Science System name: Grants-in-Aid for Scientific Research )
2007.4 - 2010.3
16. Empirical validation methods of dynamic stochastic general equilibrium models
2003.4 -
17. Empirical investigation of the intertemporal model of the current account
2000.4 -

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