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Monetary and Economic Studies2025

Monetary and Economic Studies is published each year, by the Bank of Japan's Institute for Monetary and Economic Studies (IMES). In line with IMES policy, the publication seeks to provide information on monetary and economic issues to the general public. Articles include research achievements by the staff and visiting scholars, and selected works from the proceedings of conferences sponsored by IMES.

Views expressed in Monetary and Economic Studies are those of the authors and do not necessarily reflect those of the Bank of Japan or IMES.

Click the title to obtain an abstract of the thesis

Vol.43 / November 2025

Table : Vol.43 / November 2025
Author(s) Title/Keywords PDF
Vol. 43 Full Text [PDF 2,954KB]
Wataru Hagio, Daisuke Ikeda, Yojiro Ito New Challenges for Monetary Policy
Summary of the 2025 BOJ-IMES Conference
[PDF 178KB]
Kazuo Ueda Opening Remarks of the 2025 BOJ-IMES Conference [PDF 733KB]
Agustin Carstens The Mayekawa Lecture: Trust and Macroeconomic Stability: A Virtuous Circle [PDF 73KB]
Athanasios Orphanides Challenges for Monetary Policy and Its Communication
/Policy discretion; Simple rules; Natural growth targeting; Inflation surge
[PDF 1,082KB]
Kakuho Furukawa, Hibiki Ichiue, Noriyuki Shiraki
How Does Climate Change Interact with the Financial System?
/Asset pricing; Banking; Insurance; Climate change; Natural disaster; Financial stability
[PDF 390KB]
Kazutoshi Kan, Toshihiko Sasaki Advance in Security Proofs of Quantum Key Distribution and Its Challenges towards Practical Implementation
/QKD; CV-QKD; Implementation attack
[PDF 456KB]