Organization
Faculty of Business and Commerce Professor
Title
Professor
External link
HANABUSA,Kunihiro
Degree
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博士 (経済学) ( 2009.3 )
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修士 (経済学) ( 2006.3 )
Research Interests
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時系列分析
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金利の期間構造
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金融政策
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time series analysis
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term structure of interest rates
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monetary policy
Research Areas
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Humanities & Social Sciences / Public economics and labor economics
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Humanities & Social Sciences / Money and finance
Education
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Kobe University Graduate School, Division of Economics
2009
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Kobe University Graduate School, Division of Economics
2006
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The University of Kitakyushu Faculty of Economics
- 2004
Country： Japan
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Kobe University Graduate School, Division of Economics
2009
Country： Japan
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Kobe University Graduate School, Division of Economics
2006
Country： Japan
Research History
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Shiga University Faculty of Economics
2015.10
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Aichi Gakuin University Faculty of Business and Commerce
2014.4 - 2016.3
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Chukyo University School of Economics
2013.4
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Chukyo University School of Economics
2012.4 - 2013.3
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Otemon Gakuin University Faculty of Economics
2011.4 - 2012.3
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Doshisha University Faculty of Commerce
2009.4 - 2012.3
Professional Memberships
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日本金融学会
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日本経済学会
Papers
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貿易自由化と経済成長率に関する実証的研究
英 邦広, 髙内 一宏, 福田 勝文
関西大学商学論集 68 ( 3 ) 39 - 56 2023.12
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リーマン・ショックとコロナ・ショックにおける経済政策の影響
英 邦広
関西大学商学論集 67 ( 4 ) 39 - 58 2023.3
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関税と経済成長率に関する一考察
英 邦広, 髙内 一宏, 福田 勝文
関西大学商学論集 67 ( 2 ) 1 - 16 2022.9
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非対称2国モデルにおける貿易自由化の効果
福田 勝文, 英 邦広
中京大学国際学部紀要 3 ( 3 ) 15 - 28 2022.3
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日本における新型コロナウイルス感染症と株価との関係
英 邦広
関西大学商学論集 66 ( 3 ) 17 - 33 2021.12
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日本における金融政策と所得・消費格差に関する一考察
英 邦広
関西大学商学論集 65 ( 3 ) 87 - 102 2020.12
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金融政策と格差問題に関する一考察
英 邦広
関西大学商学論集 64 ( 4 ) 19 - 34 2020.3
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マイナス金利付き量的・質的金融緩和実施による金融市場への影響に関する実証分析
英 邦広
関西大学商学論集 63 ( 4 ) 21 - 35 2019.3
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近年の期待インフレ率と流動性供給に関する研究
英 邦広
関西大学商学論集 62 ( 4 ) 75 - 93 2018.3
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近年の流動性供給における金融商品価格に関する研究
英 邦広
中京大学経済学論叢 第27号 1～28頁 2016.3
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世界金融危機と欧州中央銀行の対応
英 邦広
中京大学経済学論叢 第25号 1～24頁 2014.3
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リーマン・ショック以降の米国金融市場の分析
英 邦広
中京大学経済学論叢 第24号 119～142頁 2013.3
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The effect of 107th OPEC Ordinary Meeting on oil prices and economic performances in Japan
Kunihiro Hanabusa
RENEWABLE & SUSTAINABLE ENERGY REVIEWS 16 ( 3 ) 1666 - 1672 2012.4
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The effect of Bank of Japan's commitment and the expectation form
Kunihiro Hanabusa
Applied Financial Economics 22 ( 6 ) 445 - 460 2012.3
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The relationship between BOJ's CAB and exchange rate under the quantitative monetary easing policy
Hanabusa Kunihiro
第63巻第3号 91～111頁 ( 3 ) 211 - 231 2011.11
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Market Definition of Long Distance Transportation Market in Japan: An Event Study Approach Reviewed
Asian Journal of Law and Economics Vol 2 Issue 2 pp.1-17 2011.7
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The effect of yield spreads on increase in the target current account balance Reviewed
Review of monetary and financial studies 第32号 78～95頁 ( 32 ) 78 - 95 2011.4
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Kunihiro Hanabusa
第62巻第5・6号 105～137頁 ( 5 ) 351 - 383 2011.3
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Effects of foreign disasters on the petroleum industry in Japan: A financial market perspective
Kunihiro Hanabusa
ENERGY 35 ( 12 ) 5455 - 5463 2010.12
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The Effects of Zero Interest Rate Commitment in Japan
Kunihiro,HANABUSA
Applied Economics Letters Vol 17 Issue 13 pp.1273-1277 2010.9
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The Influences of the Public Debt on the Structure of Interest Rates : The Case of America
Hanabusa Kunihiro, Jinushi Toshiki
Journal of economics and business administration 第201巻第2号 51～64頁 ( 2 ) 51 - 64 2010.2
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Kunihiro Hanabusa
第61巻第4・5号 90～107頁 ( 4 ) 298 - 315 2010.1
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Causality Relationship Between the Price of Oil and Economic Growth in Japan Reviewed
Kunihiro,HANABUSA
Energy Policy Vol 37 Issue 5 pp.1953-1957 2009.5
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日本の金利の期間構造とマクロ経済分析
英 邦広
2009.3
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Financial Market Stability and Japan's Quantitative Monetary Easing Policy
Hanabusa Kunihiro
The Daigaku-In Keizaigaku Kenkyu-Kai, Kobe University 第55巻第3号 15～31頁 ( 3 ) 15 - 31 2009.3
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The Zero Interest Rate Policy: A Re-examination Using EGARCH - M Model Reviewed
Kunihiro,HANABUSA
The Empirical Economics Letters Vol 8 No.1 pp.45-51 ( 8 ) 45 - 51 2009.1
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Price and wage setting in Japan: An empirical investigation
Shigeyuki Hamori, Takeshi Hoshikawa, Junya Masuda, Kunihiro Hanabusa
Economics Bulletin 29 ( 1 ) 38 - 50 2009
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Kunihiro,HANABUSA
The Rokkodai ronshu. Keizaigaku-hen 第53巻第2号 71～105頁 ( 2 ) 71 - 105 2007.1
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期待仮説とマクロ変数の分析
英 邦広
2006.3
Books
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日本の貨幣需要とマクロ経済に関する一考察 －量的緩和政策解除から量的・質的金融緩和政策導入まで
英 邦広
増田淳矢・山田誠治編『応用計量経済学研究』, 中京大学経済学部付属経済研究所叢書 第22輯 勁草書房 2015.3 （ ISBN:4326549726 ）
MISC
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The effects of zero interest rate commitment in Japan
Kunihiro Hanabusa
APPLIED ECONOMICS LETTERS 17 ( 13 ) 1273 - 1277 2010
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Causality relationship between the price of oil and economic growth in Japan
Kunihiro Hanabusa
ENERGY POLICY 37 ( 5 ) 1953 - 1957 2009.5
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Causality relationship between the price of oil and economic growth in Japan
Kunihiro Hanabusa
Energy Policy 37 ( 5 ) 1953 - 1957 2009.5
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The effects of zero interest rate commitment in Japan
forthcoming 2009
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(Empirical analysis of low interest rate policy in Japan)
13 1 - 18 2009
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Price and Wage Setting in Japan: An Empirical Investigation (jointly worked)
Economics Bulletin 29 ( 1 ) 38 - 50 2009
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日本の低金利政策における実証分析
大銀協フォーラム研究助成論文集 13 1 - 18 2009
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Financial Market Stability and Japan's Quantitative Monetary Easing Policy
神戸大学大学院経済学研究会 55 ( 3 ) 15 - 31 2009
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The Zero Interest Rate Policy: A Re-examination Using EGARCH - M Model
8 ( 8 ) 45 - 51 2009
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Price and Wage Setting in Japan: An Empirical Investigation (共著)
29 ( 1 ) 38 - 50 2009
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(The analysis of the expectations hypothesis of the term structure of interest rates in Japan)
The Daigaku-In Keizaigaku Kenkyu-Kai, Kobe University 53 ( 2 ) 71 - 105 2007
Awards
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平成26年度大銀協フォーラム研究支援 特別賞
2015.2 社団法人大阪銀行協会
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平成23年度大銀協フォーラム研究支援 奨励賞
2012.2 社団法人大阪銀行協会
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平成19年度大銀協フォーラム研究支援 優秀賞
2008.2 社団法人大阪銀行協会
Research Projects
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貿易自由化とインフレーションの関係
Grant number：23K01410 2023.4 - 2026.3
日本学術振興会 科学研究費助成事業 基盤研究(C)
福田 勝文, 英 邦広, 井田 大輔, kane Robert
Grant amount：\4680000 （ Direct Cost: \3600000 、 Indirect Cost：\1080000 ）
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Comparative Empirical Research on the Economic Effects of the Lehman Brothers Collapse and COVID-19 Pandemic
Grant number：21K01590 2021.4 - 2024.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C)
Grant amount：\2730000 （ Direct Cost: \2100000 、 Indirect Cost：\630000 ）
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macroeconomic analysis of the monetary policy normalization in the context of the social-economic factors; historical, theoretical, and empirical investigation
Grant number：16H03618 2016.4 - 2021.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (B)
JINUSHI Toshiki
Grant amount：\16120000 （ Direct Cost: \12400000 、 Indirect Cost：\3720000 ）
In the advanced economies, declining natural interest rates and the low inflation rates have been the common long-run trends so that the zero interest rates are no longer exceptions. Unconventional monetary policies like quantitative easing and forward guidance are implemented frequently and we examined their effectiveness and related issues based on the US and the Japanese historical experiences.
We focused on the situation where two economies implement unconventional monetary policies simultaneously and analyzed theoretically and empirically the spillover effects between them. We examined the influences of unconventional monetary policy on the income distribution under the trend of worsening inequality.
We hypothesized the possibility that the long-run trends in socio-economic factors could contribute to the low and stable inflation expectation. We examined it through analyzing the results of the two large-scale surveys, which we conducted before and during the Covid-19 pandemic. -
The impact of non-traditional monetary policy on income and consumption inequality in Japan
Grant number：16K17149 2016.4 - 2021.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Young Scientists (B)
HANABUSA Kunihiro
Grant amount：\3900000 （ Direct Cost: \3000000 、 Indirect Cost：\900000 ）
The Bank of Japan has been expanding liquidity under low interest rates since 1999 in order to recover the domestic economy after the collapse of the asset price bubble economy and the Lehman shock. This policy is called non-traditional monetary policy. In this study, we examined whether the non-traditional monetary policy implemented by the Bank of Japan created inequality problems for income and consumption. The results obtained are as follows. (1) It could not be confirmed that the implementation of non-traditional monetary easing policies increased income inequality. (2) The increase in the monetary base did not affect the income and food expenses of both the low-income and high-income groups.
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Comparative Empirical Research on the Macro-economic Effect of Not-traditional Monetary Policy
Grant number：23730314 2011 - 2013
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Young Scientists (B)
HANABUSA Kunihiro
Grant amount：\4160000 （ Direct Cost: \3200000 、 Indirect Cost：\960000 ）
After the failure of Lehman Brothers Holdings Inc. in September, 2008, the world economy experienced a large and serious recession and financial crisis. The central banks of major countries adopted "the non-traditional monetary policy" immediately to stabilize the financial system and stimulate the economy. As a result of having investigated the relationships between the policy response of the central bank and the policy effect on the market, the empirical results were as follows. (1) After the Federal Reserve Board carried out a non-traditional relaxation policy, the middle- and long-term interest rates fell, and the volatilities of the short- and middle- term interest rates fell down. (2) After the European Central Bank reduced the policy interest rate, the stock prices did not rise.
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Comparative Empirical Research on Japanese Zero Interest Rate Policy and Quantitative Monetary Easing Policy
Grant number：21830142 2009 - 2010
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Research Activity Start-up
HANABUSA Kunihiro
Grant amount：\2639000 （ Direct Cost: \2030000 、 Indirect Cost：\609000 ）
The BOJ implemented the zero interest rate policy and the quantitative monetary easing policy from the late 1990s to early 2000s. The difference between these policy effects was as follows; (1) the zero interest rate policy increased volatilities of yield spreads but the quantitative monetary easing policy decreased them. (2) The announcements as to the termination of the zero interest rate policy affected the market expectation form but it as to the termination of the quantitative monetary easing policy did not do it.