Hajime Tomura - My portal

Profile Information

Affiliation: Professor, Faculty of Political Science and Economics,, Waseda University,

Degree: Ph.D.(2006, University of London)

Contact information: htomurawaseda.jp
ORCID ID: https://orcid.org/0000-0001-6985-0407
J-GLOBAL ID: 201201034042949367
researchmap Member ID: B000225864

The current field of research is the institutional features of the financial system, such as currency, the payment system, and money creation, and financial crises. The current research agenda is to clarify the relationship between money creation and the stagnation of Japanese economy after the 1990s.

Research Interests

Research Areas

Humanities & social sciences / Money and finance / Financial system and institutions

Research History

Apr, 2021 - Present

Professor, Faculty of Political Science and Economics, Waseda University
Sep, 2015 - Mar, 2021

Associate Professor, Faculty of Political Science and Economics, Waseda University
Apr, 2014 - Aug, 2015

Lecturer, Graduate School of Economics, University of Tokyo
Apr, 2012 - Mar, 2014

Associate Professor, Graduate School of Economics and Business Administration, Hokkaido University
Jul, 2006 - Mar, 2012

Senior Analyst, Bank of Canada,

Education

Oct, 2000 - Apr, 2006

Ph.D. in Economics, London School of Economics and Political Science (Thesis title: "Economic analysis of the post-1990 stagnation in Japan.")
Sep, 1999 - Jun, 2000

MSc. in Economics, London School of Economics and Political Science
Apr, 1998 - Aug, 1999

Master degree program (uncompleted), Division of Economics, Graduate School, The University of Tokyo
Apr, 1994 - Mar, 1998

Bachelor of Laws, The University of Tokyo

Awards

Misc.

Open Banking Policy Promoted by CFPB in the U.S. : Proposed Personal Financial Data Rights Rule Would Require Free Access to Bank APIs (in Japanese.)

Hajime Tomura

The financial economist, 74(47) 24-27, Dec 19, 2023 Invited
FinTech Camp: The Impact of FinTech on the Banking Industry (Part II) (in Japanese.)

Hajime Tomura

Nikkei Fintech, Dec, 2023 Invited
FinTech Camp: The Impact of FinTech on the Banking Industry (Part I) (in Japanese.)

Hajime Tomura

Nikkei Fintech, Dec, 2023 Invited
51

Fintech's Impact on Banking and Implications for Financial Regulation (slides, in Japanese.)

Hajime Tomura

2023 Fall Meeting of the Japan Economic Association, "The Development of Fintech and the Transformation of the Financial System" Session, Sep, 2023 Invited
Column: Changes due to the opening of the Zengin system are limited. The introduction of bank account management fees may increase nonbanks' needs for access to the system. (In Japanese.)

Hajime Tomura

Nikkei FinTech, Jul, 2023 Invited
(Economics Classroom) Boosting Personal, Banking, and Retail Connectivity: The Potential of the "Digital Yen" (in Japanese.)

Hajime Tomura

Nihon Keizai Shinbun, Jun 23, 2023 Invited
BIS's Vision of Financial Regulatory Reform for Big Tech: New Approaches to Consider in Japan's Leading FinTech Legislation (in Japanese)

Hajime Tomura

The financial economist, Apr 25, 2023 Invited
(Interview) Web3 Technology's Impact on Payment Systems: the future of NFT and Security Tokens (in Japanese)

Shohei Ueno, Takeru Hiraoka

Web3 business, Feb 24, 2023 Invited
Changes brought about by the opening of funds transfer service providers' access to the Zengin system: Impact on electronic money, international remittances, and banks (in Japanese)

Hajime Tomura

Monthly Kinyu Journal, 64(2) 10-13, Feb, 2023 Invited
(Economics Classroom) The 2022 Nobel Prize in Economics for contributions to financial system stability (in Japanese)

Hajime Tomura

Nihon Keizai Shinbun, Oct 18, 2022 Invited
What Will Be the Impact of Fintech on the Payment System? A Perspective from Money Creation

Hajime Tomura

WINPEC Working Paper E2204, Oct, 2022
The Impact of FinTech on Funds Settlement Systems and Implications for Financial Regulation - Special Issue of the Study Group on Technology and Financial Innovation (in Japanese)

Hajime Tomura

Economic Research on Securities / edited by Japan Securities Research Institute, (119) 79-97, Sep, 2022 Invited
(Economics Classroom) Businesses Respond by Raising Prices and Wages Japan's Economy Shaken by Weakening Yen (in Japanese)

Hajime Tomura

Nihon Keizai Shinbun, May 18, 2022 Invited
Issues and Measures for Reforming the Bank Remittance System : The Need for a Correct Vision-Featured Remittance Reform (in Japanese)

Hajime Tomura

Monthly Kinyu Journal, 62(7) 18-21, Jul, 2021 Invited
380

Factorization of the fourth wave by regression of effective reproduction numbers to household spending and labor (slides, in Japanese)

Hajime Tomura

Jun 8, 2021
456

Household Expenditures and the Effective Reproduction Number in Japan: Regression Analysis

Hajime Tomura

May 8, 2021
935

Household Expenditures and the Effective Reproduction Number in Japan: Regression Analysis (slides, in Japanese)

Hajime Tomura

Apr 30, 2021
(Economics Classroom) The Role of Banks Remains the Same: Central Bank Digital Currency on the Move (in Japanese)

Hajime Tomura

Nihon Keizai Shinbun, Feb 10, 2021 Invited
(Economics Classroom) Collaboration with Private Sector Businesses Key: The Future of the Central Bank's Digital Currency (in Japanese)

Hajime Tomura

Nihon Keizai Shinbun, May 20, 2020 Invited
Changes in the Environment Surrounding the Banking Industry and Scope of Business Regulations (Special Feature: Scope of Business of the Banking Group) (in Japanese)

Hajime Tomura

Regional Bankers Association Monthly Report, (715) 3-10, Jan, 2020 Invited

Papers

Associations between components of household expenditures and the rate of change in the number of new confirmed cases of COVID-19 in Japan: Time-series analysis

Hajime Tomura

PLOS ONE, 17(4) e0266963-e0266963, Apr 14, 2022 Peer-reviewed
Nominal contracts and the payment system

Hajime Tomura

The Japanese Economic Review, Jul 25, 2020 Peer-reviewed
Payment Instruments and Collateral in the Interbank Payment System

Hajime Tomura

Journal of Economic Theory, 178 82-104, 2018 Peer-reviewed
Fiscal cost to exit quantitative easing: the case of Japan

Hiroshi Fujiki, Hajime Tomura

JAPAN AND THE WORLD ECONOMY, 42 1-11, Jun, 2017 Peer-reviewed
Investment Horizon and Repo in the Over-the-Counter Market

Hajime Tomura

JOURNAL OF MONEY CREDIT AND BANKING, 48(1) 145-164, Feb, 2016 Peer-reviewed
Asset Illiquidity and Dynamic Bank Capital Requirements

Hajime Tomura

INTERNATIONAL JOURNAL OF CENTRAL BANKING, 10(3) 291-317, Sep, 2014 Peer-reviewed
Heterogeneous beliefs and housing-market boom-bust cycles

Hajime Tomura

JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 37(4) 735-755, Apr, 2013 Peer-reviewed
Asset illiquidity and market shutdowns in competitive equilibrium

Hajime Tomura

REVIEW OF ECONOMIC DYNAMICS, 15(3) 283-294, Jul, 2012 Peer-reviewed
ENDOGENOUS SELECTION OF PRODUCERS, ASSET PRICES, AND PRODUCTIVITY SLOWDOWN

Hajime Tomura

JAPANESE ECONOMIC REVIEW, 63(1) 104-130, Mar, 2012 Peer-reviewed
International capital flows and expectation-driven boom-bust cycles in the housing market

Hajime Tomura

JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 34(10) 1993-2009, Oct, 2010 Peer-reviewed

Books and Other Publications

Japan's Financial System : New Challenges and Risks of the Post-Global Financial Crisis (in Japanese)

Edited by Tokuo Iwaisako (Role: Contributor, Chapter 2. Credit Economy and Payment Systems: Can New Electronic Currencies Replace Bank Deposits as a Means of Payment?)

The University of Tokyo Press, Sep, 2023 (ISBN: 9784130461399)
Technological Progress and the Japanese Economy: Market Rules and the Future of Economy and Society in the New Era (in Japanese)

Shin-ichi Fukuda, Kenji Tanaka, Tsutomu Miyagawa, Takayuki Ishikawa, Toru Nabeyama, Hajime Tomura, Mariko Tanaka, Isao Yamamoto, Tsuyoshi Mihira (Role: Contributor, Chapter 4, "The Impact and Challenges of Fintech on the Payment System.")

The University of Tokyo Press, Aug, 2020 (ISBN: 9784130402941)
Report of the 2016 Financial Research and Study Group of the Japanese Bankers Association, "A New Dimension of Monetary Policy" (in Japanese.)

(Role: Contributor, Chapter 6, "Money Stocks and Nominal Anchors.")

The Japanese Bankers Association, Jul, 2017

Teaching Experience

Committee Memberships

Jun, 2022 - Present

Study group on government debt management, Ministry of Finance
Jun, 2016 - Feb, 2021

Payments Council on Financial Innovation, Financial Services Agency,
Nov, 2017 - Jun, 2019

Study Group on the Financial System, Financial System Council,
Jul, 2015 - Dec, 2015

Working Group on Payments and Transaction Banking, Financial System Council,
Oct, 2014 - Apr, 2015

Study Group on Payments and Transaction Banking, Financial System Council,