Faculty Information

Specialization and related fields

Academic background

Business career

Research topic, funded research, and department laboratory expense

Book and thesis

Academic conference presentation

（Last updated : 2025-01-07 13:58:44）

SHIROTA Toyoichiro
Department Aoyama Gakuin University Department of Economics, College of Economics

Position Professor

■ Specialization and related fields

Money and finance, Economic theory

■ Academic background

1.	Keio University

■ Business career

1.	1999/04～2016/03	Bank of Japan
2.	2022/04～2023/03	Aoyama Gakuin University College of Economics Department of Economics Associate Professor
3.	2023/04～	Aoyama Gakuin University College of Economics Department of Economics Professor

■ Research topic, funded research, and department laboratory expense

1.	2016/04～2018/03	Collateral constraint and Japan's economy: DSGE approach (Key Word : )
2.	2016/09～2017/09	Exchange rate pass through to consumer prices (Key Word : )
3.	2018/03～2019/03	Effects of the stabilization policy and economic uncertainty (Key Word : )
4.	2018/04～2021/03	Causal identification of monetary policy effects (Key Word : )
5.	2019/12～2021/11	Robots, Labor and the Macroeconomy (Key Word : )
6.	2021/04～2025/03	Does robotization change economic activities? (Key Word : )
7.	2021/04～2024/03	Production network and macroeconomy (Key Word : )
8.	2021/09～2022/03	Study group on the impact of coronavirus epidemics on employment, income, inequality, and business management, focusing on occupational characteristics (Key Word : )
9.	2022/03～2024/08	Automation and Macroeconomy (Key Word : )
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■ Book and thesis

1.	Article	Optimal monetary policy under fairness concerns in pricing Economics Letters (Single) 2025/02
2.	Article	Aggregate implications of changing industrial trends in Japan Journal of the Japanese and International Economies (Collaboration) 2025/01
3.	Article	Automation and disappearing routine occupations in Japan Journal of the Japanese and International Economies 74 (Collaboration) 2024/12
4.	Article	State-dependent effects of the unconventional monetary policy in stock markets Japan and the World Economy (Single) 2023/08
5.	Article	The cost-of-living index in a cash and credit goods economy Macroeconomic Dynamics 27(5),pp.1383-1396 (Single) 2023/06
6.	Article	Is bigger more effective? shock size and the efficacy of monetary policy Macroeconomic Dynamics accepted,pp.null-null (Single) 2022/12
7.	Article	Cost of Sticky Prices under Multiple Stages of Production JOURNAL OF MONEY CREDIT AND BANKING 53(5),pp.1211-1222 (Single) 2021/08
8.	Article	Shock matters for estimating monetary policy rules Economics Letters 181(null),pp.54-56 (Single) 2019/08
9.	Article	What is the major source of business cycles: Spillovers from land prices, investment shocks, or anything else? Journal of Macroeconomics 57(null),pp.138-149 (Single) 2018/09
10.	Article	Measuring potential growth with an estimated DSGE model of Japan’s economy International Journal of Central Banking 12(1),pp.1-32 (Collaboration) 2016/03
11.	Article	Flattening of the Phillips curve under low trend inflation ECONOMICS LETTERS 132(null),pp.87-90 (Single) 2015/07
12.	Article	What is the major determinant of cross-border banking flows? JOURNAL OF INTERNATIONAL MONEY AND FINANCE 53(null),pp.137-147 (Single) 2015/05
13.	Article	Demand-side real rigidities revisited SSRN e-Journal (4236995) (Single) 2022/10
14.	Article	Investment-specific Technological Progress in Production Networks SSRN e-Journal (4238283) (Single) 2022/10
15.	Article	Production Network and Optimal Inflation Rate SSRN e-Journal (4231859) (Single) 2022/09
16.	Article	State-Dependent Effects of the Unconventional Monetary Policy in Stock Markets SSRN e-Journal (4170368) (Single) 2022/07
17.	Article	Measuring robot quality: Slowing improvement is a possibility VOXEU (null) (Collaboration) 2022/05
18.	Article	Robot Penetration and Task Changes RIETI Discussion papers 21-E-093 (null) (Collaboration) 2021/11
19.	Article	Measuring Robot Quality: Has Quality Improvement Slowed Down? RIETI Discussion papers 21-E-054 (null) (Collaboration) 2021/07
20.	Article	Note on alternative work arrangements, tasks, and compensations : Evidence from a quasi-natural experiment Discussion paper series. A (355) (Single) 2020/12
21.	Article	Evaluating the Unconventional Monetary Policy in Stock Markets : A Semi-parametric Approach Discussion Paper, Series A (322) (Single) 2018/03
22.	Article	What is the Major Source of Business Cycles : Spillovers from Land Prices, Investment Shocks, or Anything Else? Discussion Paper, Series A (323) (Single) 2018/03
23.	Article	Not All Exchange Rate Movements Are Alike : Exchange Rate Persistence and Pass-Through to Consumer Prices Discussion Paper, Series A (311) (Single) 2017/09
24.	Article	ICT penetration and Tasks Discussion paper series (null) (Collaboration) 2022/03
25.	Article	Nontechnical summary: Robot penetration and task changes RIETI highlight (88) (Collaboration) 2021/12
26.	Article	Quarterly-Japanese Economic Model (Q-JEM) BOJ Working Paper Series (09-J-06) (Collaboration) 2009/01
27.	Article	Costs of price fluctuations: literature survey and empirical assessment Journal of Economics pp.2-39 (Collaboration) 2008/07
28.	Article	Costs of Stick Prices BOJ Working Paper Series (07-J-5) (Collaboration) 2007/01
29.	Article	Optimal Trend Inflation and Monetary Policy under Trending Relative Prices BOJ Working Paper Series (07-E-01) (Single) 2007/01
30.	Article	Revisiting the decline in the exchange rate pass-through : further evidence from Japan's import prices Monetary and Economic Studies 24(1),pp.61-76 (Collaboration) 2006/03
31.	Article	Estimation of the Phillips curve under heterogeneous price elasticity of demand BOJ Working Paper Series (06-J-16) (Single) 2006/01
32.	Article	On long-run monetary neutrality in Japan Monetary and Economic Studies 23(3),pp.121-159 (Collaboration) 2004/10
33.	Article	The choice of invoice currency in international trade : implications for the interntaionalization of the yen Monetary and Economic Studies 22(1),pp.27-63 (Collaboration) 2004/03
34.	Article	The decline in the exchange rate pass-through : evidence from Japanese import prices Monetary and Economic Studies 21(3),pp.53-81 (Collaboration) 2003/10
35.	Article	null null pp.91-130 (Collaboration) 2003/09
36.	Article	null null pp.59-90 (Collaboration) 2003/09
37.	Article	null null pp.213-249 (Collaboration) 2002/06
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■ Academic conference presentation

1.	2021/11/22	Robot penetration and task changes (職業特性に着目したコロナウィルス流行の雇用・所得格差、企業経営等への影響に関する研究に係る研究会)
2.	2019/03/21	Shock Size Matters for Monetary Policy
3.	2019/03/01	Shock size matters for monetary policy
4.	2019/01/11	Monetary Policy Shock and Monetary Policy Rule (先端研マクロ経済分析研究会)
5.	2018/06/21	Not All Exchange Rate Movements Are Alike: Exchange Rate Persistence and Pass-Through to Consumer Prices
6.	2017/06/01	Evaluating the ‘Unconventional’ Unconventional Monetary Policy: The Propensity Score Approach
7.	2017/05/01	Housing demand spillovers and economic fluctuations
8.	2017/01/01	Evaluating the ‘Unconventional’ Unconventional Monetary Policy: The Propensity Score Approach
9.	2016/09/01	Housing demand spillovers and economic fluctuations
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