Eiji Fujii's Research
PUBLISHED RESEARCH PAPERS
"Currency Concentration in Sovereign Debt, Exchange Rate Cyclicality,
and Volatility in Consumption"
Review of World Economics (Weltwirtschaftliches Archiv), v. 160, n. 1, pp. 169-192, February 2024 (published online in February
2023).
"What Does Trade Openness Measure?"
Oxford Bulletin of Economics and Statistics, v. 81, n. 4, pp. 868-888, August 2019.
"Government Size, Trade Openness, and Output Volatility: A Case of
Fully Integrated Economies"
Open Economies Review, v. 28, n. 4, pp. 661-684, September 2017.
"External Debt and International Trade: Another Mismatch"
in Frank Westermann and Yin-Wong Cheung (eds.), International Currency Exposure, MIT Press, pp. 241-263, July 2017.
"Reconsidering the Price-Income Relationship across Countries"
Pacific Economic Review, v. 20, n. 5, pp. 733-760, December 2015.
"The Penn Effect within a Country: Evidence from Japan" (with Yin-Wong Cheung)
Oxford Economic Papers, v. 66, pp. 1070-1089, October 2014.
"Exchange Rate Misalignment Estimates - Sources of Differences"
(with Yin-Wong Cheung)
International Journal of Finance & Economics, v. 19, pp. 91-121, March 2014.
"The Penn Effect: Decoupling and Re-coupling in the Price-Income Relationship?"
in Frank Westermann and Y-.W-. Cheung (eds.), Global Interdependence, Decoupling, and Re-coupling, MIT Press, pp. 263-291, November 2013.
"A Note on the Debate over Renminbi Undervaluation" (with Yin-Wong
Cheung and Menzie Chinn)
in Yin-Wong Cheung and Guonan Ma (eds.) Asia and China in the Global Economy, World Scientific Publisher, pp. 155-187, June 2011.
"Measuring Renminbi Misalignment: Where Do We Stand?" (with Yin-Wong
Cheung and Menzie Chinn)
Korea and the World Economy, v. 11 n. 2, 2010, pp.263-296.
"China's Current Account and Exchange Rate" (with Yin-Wong Cheung
and Menzie Chinn)
in Robert Feenstra and Shiang-Jin Wei (eds.) China's Growing Role in World Trade, University of Chicago Press for NBER, pp. 231-280, April 2010.
“Measuring Misalignment: Latest Estimates for the Chinese Renminbi” (with
Yin-Wong Cheung and Menzie Chinn)
in Simon Evenett (ed.), The US-Sino Currency Dispute: New Insights from Economics, Politics and
Law, Center for Economic Policy Research (CEPR), London, UK, pp. 79-90, April
2010.
“Pitfalls in Measuring Exchange Rate Misalignment: The Yuan and Other Currencies”(with
Yin-Wong Cheung and Menzie Chinn)
Open Economies Review, v. 20, 2009, pp. 183-206.
“The Illusion of Precision and the Role of the Renminbi in Regional Integration”
(with Yin-Wong Cheung and Menzie Chinn)
in Koichi Hamada, Beate Reszat and Ulrich Volz (eds.) Towards Monetary and Financial Integration in East Asia, Edward Elgar, pp. 325- 356, June 2009.
”The Fog Encircling the Renminbi Debate” (with Yin-Wong Cheung and Menzie
Chinn)
Singapore Economic Review, v. 52, n. 3, 2007, pp. 1-16.
“The Overvaluation of Renminbi Undervaluation” (with Yin-Wong Cheung and
Menzie Chinn)
Journal of International Money and Finance, v. 26, n. 5, September 2007, pp. 762-85
“Cross-Country Relative Price Volatility: Effects of Market Structure”
(with Yin-Wong Cheung)
Review of International Economics, v. 14, n. 5, 2006, pp. 836-848.
“The Chinese Economies in Global Context: The Integration Process and Its
Determinants” (with Yin-Wong Cheung and Menzie Chinn)
Journal of the Japanese and International Economies, v. 20, n. 1, March 2006, pp. 128-153.
“Exchange rate Pass-through in the Deflationary Japan: How Effective is
the Yen’s Depreciation for Fighting Deflation?”
in Michael Hutchison and Frank Westermann (eds.) Japan’s Great Stagnation: Financial and Monetary Policy Lessons for Advanced Economies, MIT Press, pp. 211-237, June 2006.
“Intra and Inter-Regional Causal Linkages of Emerging Stock Markets: Evidence
from Asia and Latin America in and out of Crises”
Journal of International Financial Markets, Institutions & Money, v. 15, n. 4, October 2005, pp. 315-342.
“Dimensions of Financial Integration in Greater China: Money Markets, Banks
and Policy Effects” (with Yin-Wong Cheung and Menzie Chinn)
International Journal of Finance & Economics, v. 10, n. 2, April 2005, pp. 117-132.
“Why the renmenbi might be overvalued (but probably isn't)” (with Yin-Wong
Cheung and Menzie Chinn)
Proceedings, Federal Reserve Bank of San Francisco, September, 2005.
“A Price-Based Assessment of Economic Integration: The Implications for
Monetary Arrangements in East Asia” (with Yin-Wong Cheung and Menzie Chinn)
in Choong Yong Ahn, Takatoshi Ito, Masahiro Kawai, and Yung Chul Park (eds.)
Financial Development and Integration in East Asia, Korea Institute for International Economic Policy, December 2003.
“China, Hong Kong, and Taiwan: A Quantitative Assessment of Real and Financial
Integration” (with Yin-Wong Cheung and Menzie Chinn)
China Economic Review, v. 14, n. 3, 2003, pp. 281-303.
“Exchange Rate and Price Adjustments in
the Aftermath of the Asian Crisis”
International Journal of Finance & Economics, v. 7, n. 1, January 2002, pp. 1-14.
“Fin de Siècle Real Interest Parity” (with Menzie Chinn)
Journal of International Financial Markets, Institutions & Money, v. 11, n. 3/4, Sept./Dec.2001, pp. 289-308.
“A Note on the Power of Money-Output Causality Tests” (with Yin-Wong Cheung)
Oxford Bulletin of Economics and Statistics, v. 63, n. 2, May 2001, pp. 247-261.
“Market Structure and the Persistence of Sectoral Real Exchange Rates”
(with Yin-Wong Cheung and Menzie Chinn)
International Journal of Finance & Economics, v. 6, n. 2, April 2001, pp. 95-114.
“Which Measure of Aggregate Output Should We Use?” (with Yin-Wong Cheung)
Journal of Macroeconomics, v. 22, n. 2, Spring 2000, pp. 253-269.
Books
The Economic Integration of Greater China: Real and Financial Linkages
and the Prospects for Currency Union
(jointly with Yin-Wong Cheung and Menzie Chinn), Hong Kong University Press,
154 pages, April 2007.
Core text: International Finance 3rd edition (in Japanese), 365 pages, September 2024, Shinseisha.
2nd edition, 352 pages, December 2013
1st edition, 336 pages, October 2006.
Book Review
“East Asian Finance: The Road to Robust Markets - by Swati R. Ghosh”
Asian-Pacific Economic Literature, vol.21, no.1, May 2007.
“Financial Integration in East Asia - by Gordon de Brouwer”
Pacific Affairs, vol. 74, no. 4, January 2002.
Other Articles
“The Debate over Renminbi Undervaluation” (with Yin-Wong Cheung and Menzie
Chinn)
The Policy Report, Robert M. Lafollette School of Public Affairs, University of Wisconsin – Madison, October 2006.
WORKING PAPERS
CESifo Working Papers
Center for Economic Studies and Ifo Institute, Munich, Germany
"Currency Concentration in Sovereign Debt, Exchange Rate Cyclicality,
and Volatility in Consumption"
CESifo Working Papers No.10074, November 2022.
""Currency Portfolio of External Debt, Exchange Rate Cyclicality,
and Consumption Volatility"
CESifo Working Papers No.8287, May 2020.
What Does Trade Openness Measure?"
CESifo Working Papers No.6656, September 2017.
"Government Size, Trade Openness, and Output Volatility: A Case of
Fully Integrated Economies"
CESifo Working Papers No.5563, October 2015.
"External Debt and International Trade: Another Mismatch"
CESifo Working Papers No.5519, September 2015, revised in April 2016.
"Reconsidering the Price-Income Relationship across Countries"
CESifo Working Papers No.4129, February 2013.
"The Penn effect within a country - Evidence from Japan"
(with Yin-Wong Cheung)
CESifo Working Papers No.3955, October 2012.
"Exchange Rate Misalignment Estimates - Sources of Differences"
(with Yin-Wong Cheung)
CESifor Working Papers No.3555, August 2011.
“Deviatons from the Law of One Price in Japan”
(with Yin-Wong Cheung)
CESifo Working Papers No.2275, April 2008.
“The Overvaluation of Renminbi Undervaluation”
(with Yin-Wong Cheung and Menzie Chinn)
CESifo Working Papers No.1918, February 2007.
“Cross-Country Relative Price Volatility: Effects of Market Structure”
(with Yin-Wong Cheung)
CESifo Working Papers No.1456, April 2005.
“Exchange Rate Pass-through in the Deflationary Japan: How Effective is
the Yen’s Depreciation for Fighting Deflation?”
CESifo Working Papers No.1134, January 2004.
“China, Hong Kong,
and Taiwan: A Quantitative Assessment of Real and Financial Integration”
(with Yin-Wong Cheung and Menzie Chinn)
CESifo Working Papers No.851, January 2003.
NBER Working Papers
National Bureau of Economic Research, Cambridge, Massachusetts, USA
“Pitfalls in measuring exchange rate misalignment: The yuan and other currencies”
(with Yin-Wong Cheung and Menzie Chinn)
NBER Working Paper Series W14168, July 2008.
“The Overvaluation of Renminbi Undervaluation”
(with Yin-Wong Cheung and Menzie Chinn)
NBER Working Paper Series W12850, January 2007.
“Chinese Economies
in Global Context: The Integration Process and Its Determinants”
(with Yin-Wong
Cheung and Menzie Chinn)
NBER Working Paper Series W10047, October 2003.
"Fin de Siècle Real Interest Parity"
(jointly with Menzie Chinn)
NBER Working Paper Series W7880, September 2000.
"Market
Structure and the Persistence of Sectoral Real Exchange Rates"
(with Yin-Wong Cheung and Menzie Chinn)
NBER Working Paper Series W7408, October 1999.
Bank of Canada Working Papers
Bank of Canada, Ottawa, Ontario, Canada
“Exchange Rate Pass-Through and Inflation Environment in Industrialized
Countries: An Empirical Investigation”
(with Jeannine Bailliu)
Bank of Canada Working Paper Series 2004-21, 2004.
BOFIT Discussion Paper Series
The Bank of Finland Institutue for Economies in Transition, Helsinki, Finland
"Exchange Rate Misalignment Estimates - Sources of Differences"
(with Yin-Wong Cheung)
BOFIT Discussion Papers 25/2011