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Monetary and Economic Studies2021

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.

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Vol.39 / November 2021

Table : Vol.39 / November 2021
Author(s) Title/Keywords Full Text (PDF)
Takuji Fueki, Ken Matsushita, Ichiro Muto, Fumitaka Nakamura, Shunichi Yoneyama Adapting to the New Normal: Perspectives and Policy Challenges after the COVID-19 Pandemic
Summary of the 2021 BOJ-IMES Conference
[PDF 109KB]
Haruhiko Kuroda Opening Remarks of the 2021 BOJ-IMES Conference [PDF 48KB]
Olivier J. Blanchard The Mayekawa Lecture: Fiscal Policy under Low Rates: Taking Stock [PDF 246KB]
Athanasios Orphanides The Power of Central Bank Balance Sheets
/Zero lower bound; Balance sheet policies; Quantitative easing; Eligibility; Fiscal-monetary interactions
[PDF 883KB]
Kazutoshi Kan Security Risks of Machine Learning Systems and Taxonomy Based on the Failure Mode Approach
/Machine learning; Failure mode; Security risk; Vulnerability
[PDF 485KB]
Kazutoshi Kan, Masashi Une Recent Trends on Research and Development of Quantum Computers and Standardization of Post-Quantum Cryptography
/Elliptic-curve cryptography; Post-quantum cryptography; Public-key cryptographic algorithm; Quantum computer; RSA; Standardization
[PDF 360KB]
Sahoko Furuta, Yudai Hatayama, Atsushi Kawakami, Yusuke Oh New Hedonic Quality Adjustment Method using Sparse Estimation
/Price index; Quality adjustment; Hedonic regression model; Multicollinearity; Omitted variable bias; Sparse estimation; Adaptive elastic net
[PDF 834KB]
Moegi Inoue, Atsushi Kawakami, Ayako Masujima, Ichiro Muto, Shogo Nakano, Izumi Takagawa Final Demand-Intermediate Demand Aggregation System of Japan's Producer Price Index
/Producer price index; FD-ID aggregation system; Input-Output table; Multiple counting problem
[PDF 2,972KB]