特別研究官Senior Research Fellow
植田 健一
UEDA Kenichi

研究分野 主な関心領域


金融論、マクロ経済学

学歴・略歴


1991年 3月  東京大学経済学部経済学科卒業

1991年 4月    大蔵省理財局事務官

1995年 6月    シカゴ大学修士

1995年 7月    大蔵省国際金融局係長

2000年 6月    シカゴ大学博士

2000年 6月    国際通貨基金(IMF)エコノミスト

2009年 5月    国際通貨基金(IMF)シニアエコノミスト

2012年 9月    マサチューセッツ工科大学経済学部CFSPポリシーフェロー(IMF休職中半年)

2014年 9月    東京大学大学院経済学研究科准教授


主な著作物  (著書・編著、論文等)

 

<REFEREED JOURNAL PUBLICATIONS>

  • “ Listing and Financial Constraints,” (with Akira Ishide and Yasuo Goto), Japan and the World Economy, Vol. 49, pp.1-16, 2019.
  • “Corrigendum to ‘Central Bank Independence and Macro-Prudential Regulation’ [Econom. Lett. 125(2014) 327-330],” (with Fabian Valencia), Economics Letters, 2015, vol. 136, pp. 243-244.
  • “Central Bank Independence and Macro-Prudential Regulation,” (with Fabian Valencia), Economics Letters, 2014, vol. 125, pp. 327-330.
  • “Institutions and Financial Frictions: Estimation with Structural Restrictions on Firm Value and Investment,” (with Stijn Claessens and Yishay Yafeh), 2014, Journal of Development Economics, vol.110, pp.107-122.
  • “Quantifying Structural Subsidy Values for Systemically Important Financial Institutions,” (with Beatrice Weder di Mauro), Journal of Banking and Finance, 2013, vol.37, pp.3830-3842.
  • “Banks as Coordinators of Economic Growth and Stability: Microfoundation for Macroeconomy with Externality,” Journal of Economic Theory, 2013, vol.148 (1), pp.322-352.
  • “Welfare Gains from Financial Liberalization,” (with Robert M. Townsend), International Economic Review, 2010, vol.51, pp.553-597.
  • “Corporate Governance Quality: Trends and Real Effects,” (with Gianni de Nicolo and Luc Laeven), Journal of Financial Intermediation, 2008, vol.17, pp.198-228.
  • “The Quality Effect: Does Financial Liberalization Improve the Allocation of Capital?” (with Abdul Abiad and Nienke Oomes), Journal of Development Economics, 2008, vol.87, pp.270-282.
  • “Financial Deepening, Inequality, and Growth: A Model-Based Quantitative Evaluation,” (with Robert M. Townsend), Review of Economic Studies, 2006, vol.73, pp.251-293.

 

<MAJOR WORKING PAPERS>

  • “Listing and Financial Constraints,” (with Akira Ishide and Yasuo Goto), RIETI Discussion Paper, 2017, 17-E-090.
  • “Industrial Revolutions and Global Imbalances,” (with Alexander Monge-Naranjo), RIETI Discussion Paper, 2017, 17-E-067.
  • “Monopoly Rights and Economic Growth: An Inverted U-Shaped Relation,” (with Stijn Claessens), RIETI Discussion Paper, 2016, 16-E-093, CARF Working Paper F-396.
  • “Effects of Unconventional Monetary Policy on Banking Sector Soundness,” (with Frederic Lambert), IMF Working Paper, 2014, WP/14/152.
  • “Banks and Labor as Stakeholders: Impact on Economic Performance,” (with Stijn Claessens), IMF Working Paper, 2008, WP/08/229, ECGI Finance Working Paper 220/2008.
  • “Life Expectancy and Income Convergence in the World: A Dynamic General Equilibrium Analysis,” IMF Working Paper, 2008, WP/08/158.
  • “Are Developing Countries Better Off Spending Their Oil Wealth Upfront?” (with Hajime Takizawa and Edward Gardner), IMF Working Paper, 2004, WP/04/141.
  • “Implications of Migration on Income and Welfare of Nationals,” IMF Working Paper, WP/02/215.
  • “Transitional Growth with Increasing Inequality and Financial Deepening” (with Robert M. Townsend), IMF Working Paper, 2001, WP/01/108, 2001.
  • “Income Distribution, Informal Safety Nets, and Social Expenditures in Uganda” (with Calvin McDonald and Christian Schiller), 1999, IMF Working Paper, WP/99/163, 1999.

 

<IMF OFFICIAL PUBLICATIONS>


Global Financial Stability Report

  • “How Big is the Implicit Subsidy for Banks Considered Too Important To Fail?” (co-lead author with Frederic Lambert and several other co-authors), Chapter 3, Global Financial Stability Report, IMF, April 2014.
  • “Assessing Policies to Revive Credit Markets,” (with several co-authors) Chapter 2, Global Financial Stability Report, IMF, October 2013.
  • “Do Central Bank Policies Since the Crisis Carry Risks to Financial Stability?” (with several co-authors) Chapter 3, Global Financial Stability Report, IMF, April 2013.

 

World Economic Outlook

  • “The Evolution and Impact of Corporate Governance Quality in Asia,” (with Gianni De Nicolo and Luc Laeven), Box 3.2, World Economic Outlook, IMF, September 2006.
  • “Awash with Cash: Why Are Corporate Savings So High?” (with Roberto Cardarelli), Chapter IV, World Economic Outlook, IMF, April 2006.
  • “Return on Investment in Industrial and Developing Countries,” (with Robin Brooks), Box 2.2, World Economic Outlook, IMF, September 2005.
  • “Financial Deepening and Development,” (with Enrica Detrageache), Box 4.1, World Economic Outlook, IMF, April 2004.

 

Staff Position Note

  • “The Economics of Bank Restructuring: Understanding the Options,” (with Augustin Landier), IMF Staff Position Note 09/12, June 2009.

 

Staff Report (contributed as a team member)

  • “Switzerland: Staff Report, IMF Country Report 08/170, May 2008.
  • “Unites States: Staff Report, IMF Country Report 04/230. July 2004.
  • “Fiji: Staff Report, IMF Country Report 03/8, January 2003.
  • “New Zealand: Staff Report, IMF Country Report 02/71, March 2002.

 

Selected Issues

  • “Possible Subordination Effects of Eurosystem Bond Purchases,” (with Nico Valckx and Manmohan Singh), Chapter IV, Euro Area Policies: Selected Issues, IMF Country Report No. 12/182, July 2012.
  • “Domestic and Global Perspectives of Migration to the United States,” (with Roberto Cardarelli), Chapter II, The United States: Selected Issues, IMF Country Report 04/228, July 2004.
  • “Public Investment and Economic Growth,” (with Eric Parrado) Chapter I, Fiji: Selected Issues, IMF Country Report 03/9, January 2003.
  • “Sugar Sector Issues,” Chapter II, Fiji: Selected Issues, IMF Country Report 03/9, January 2003.
  • “Implications of Migration on Economic Growth and Welfare of New Zealanders,” Chapter II, New Zealand: Selected Issues, IMF Country Report 02/72, March 2002.

 

Other Policy Papers

  • “Monetary Policy in the New Normal,” (a contributor to this policy paper by many co-authors), IMF Staff Discussion Note 14/3, April 2014.
  • “Unconventional Monetary Policies—Recent Experience and Prospects,” (a main contributor to this policy paper by many co-authors), April 2013.
  • “The Value of the Too-Big-to-Fail Subsidy to Financial Institutions,” (with Beatrice Weder di Mauro), Chapter 6, Financial Sector Taxation: The IMF’s Report to the G-20 and Background Material, Stijn Claessens, Michael Keen, and Ceyla Pazarbasioglu eds, September 2010.

 

<BOOK CHAPTERS>

  • “Financial Deepening, Inequality, and Growth: A Model-Based Quantitative Evaluation” (Reprint of REStud paper with Robert M. Townsend), a chapter in Finance and Growth, Asli Demirgüç-Kunt and Ross Levine eds, The International Library of Critical Writings in Economics series, Edward Elgar Publishing, forthcoming.
  • “Possible Subordination Effects of Eurosystem Bond Purchases,” (Reprint of Chapter IV of IMC Country Report No. 12/182), Chapter 5 in The Mechanics of A Strong Euro Area: IMF Policy Analysis, Petya Koeva Brooks and Mahmood Pradhan eds, IMF, 2015.
  • “The Economics of Bank Restructuring: Understanding the Options,” (Reprint of IMF SPN 09/12 with Augustin Landier), Chapter 16 in Financial Crisis: Causes, Consequences, and Policy Responses, Claessens et al. eds., IMF, 2014.
  • “The Quality Effect: Does Financial Liberalization Improve the Allocation of Capital?” (Reprint of JDE article with Abdul Abiad and Nienke Oomes), Chapter 12 in Macrofinancial Linkages, Crowe et al. eds., IMF, 2010.
  • “Corporate Governance Quality: Trends and Real Effects,” (Reprint of JFI article with Gianni de Nicolo and Luc Laeven), Chapter 14 in Macrofinancial Linkages, Crowe et al. eds., IMF, 2010.

 

<OTHER PUBLICATIONS>

  • Keizai Seminar (in Japanese), "Economics of Financial System," 2019 August-September issue, October-November issue, December-January issue, and 2020 February-March issue.
  • “User Manual for the Corporate Sector Vulnerability Utility, First version: April 2005 (with Robin Brooks); Updated version: March 2011 (updated only by myself), IMF internal document.
  • “Increasing Returns, Long-Run Growth, and Financial Intermediation, Ph.D. dissertation, the University of Chicago, June 2000.
  • “Nihon-no-Kokusai (Japanese Government Bonds, a book in Japanese, coauthored with members of Government Debt Division, Ministry of Finance), Okura-Zaimu-Kyokai, Tokyo, 1992.

 

<MEDIA APPEARANCES (excl. IMF official publications)>

  • BS Japan (TV) Nikkei-FT Saturday 9, December 10, 2016.
  • NHK (TV) World Newsline, January 7, 2016.
  • NHK (TV) Nichiyo Toron (Sunday Debate), July 5, 2015.
  • BS11 (TV) Hodo Live 21, July 1, 2015.
  • Nikkei (newspaper) Keizai-Kyoshitu (Economics Column) on June 17, 2015, July 29, 2016.
  • Op-Eds in Nikkei Business (a Japanese weekly magazine) on October 5, 2009, March 22, 2010, October 18, 2010, and March 21, 2011; as well as in Nikkei Business Online on January 31, 2012, December 16, 2013, and March 23, 2015, July 7, 2015. Three articles are reprinted in Atarashii Keizai no Kyokasho, 2011, 2012, and 2014 editions, by Nikkei Business Publications.
  • Op-Eds in Vox EU on July 25, 2009 (with Augustin Landier).
  • Cited in The Guardian (August 19, 2014) on IMF WP 14/152.
  • Cited in Bloomberg (online, February 20, March 12, and Magazine April Issue, 2013), New York Times (online, February 28, 2013), among others, on IMF WP 12/128. This led to US Senate amendment to the budget bill on March 22, 2013, proposed by Senators Brown and Vitter (IMF WP 12/128 was officially cited in their proposal).
  • Cited in Wall Street Journal (online, July 24, 2012) on Chapter IV, IMF Country Report 12/182.
  • Cited in Bloomberg (online, June 18, 2012) on IMF WP 12/128.
  • Cited in Le Monde (June 10, 2009) and Les Echos (June 9, 2009) on IMF SPN 09/12.

 

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