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WATANABE, Tsutomu Personal Website
Office E-mail
Faculty of Economics,
The University of Tokyo,
7-3-1 Hongo, Bunkyo-ku, Tokyo, 113-0033
watanabe at e.u-tokyo.ac.jp
Please replace "at" with@
1982 March University of Tokyo BA in Economics
1992 March Harvard University Ph. D. in Economics

1982 April Bank of Japan
1999 April Associate Professor, Institute of Economic Research, Hitotsubashi University 
2002 January Professor, Institute of Economic Research, Hitotsubashi University 
2011 October Professor, Graduate School of Economics, University of Tokyo
Research Field
Macroeconomics, International Finance, Corporate Finance
Research Theme
My main research area is monetary policy and inflation dynamics. I have published a series of papers on monetary policy when nominal interest rates are bounded at zero; in particularly, my paper on the optimal monetary policy at the zero lower bound has been widely recognized as the first paper to provide a simple description of the liquidity trap and characterize the optimal policy response to it in a setting of dynamic stochastic general equilibrium. As for inflation dynamics, I have been engaged in empirical analysis on the source of price stickiness using micro price data. I was Project Leader of a five-year JSPS Grant-in-Aid for Creative Scientific Research project commenced in 2006 on “Understand Inflation Dynamics of the Japanese Economy: An Approach Integrating Microeconomic Behaviors and Aggregate Fluctuations”.