Ikuko FUEDA-SAMIKAWA
Principal Economist
Specialty：Monetary Policy and Banking
Biography
【Education】
2010 Completed a Ph.D. Program in Commerce, Keio University
2004 M.A., Economics, Hitotsubashi University
1990 L.L.B., School of Oriental and African Studies (SOAS) University of London, UK
【Career】
2021 Director, Financial Research, Principal Economist, Economic Research Department, Japan Center for Economic Research
2019 Associate Professor, Institute of Economic Research, Hitotsubashi University, and Director, Financial Research, Principal Economist, Economic Research Department, Japan Center for Economic Research
2016 Director, Financial Research, Principal Economist, Economic Research Department, Japan Center for Economic Research
2013 Principal Economist, Economic Research Department, Japan Center for Economic Research
2012 Deputy Manager, Global Business Bureau, Chinese Nikkei.com, Nikkei Inc. Video News Department, Online News Group, Editorial Bureau, Nikkei Inc. Research Fellow, Japan Center for Economic Research
2010 Deputy Manager, Global Media Strategy Office, Nikkei Inc. Commentator, Video News Department, Online News Group, Editorial Bureau, Nikkei Inc.
2009 Research Fellow at JCER, and Commentator, Video News Department, Online News Group, Editorial Bureau, NIKKEI Inc., Deputy General Manager International Business Bureau Media Strategy Office
2007 Assigned to the Embassy of Japan in the UK as a Senior Economic Adviser
2003 Associate Senior Economist, Research Service Department, JCER
1997 Economist, Economic Analysis Department, JCER
1995 Assigned to Japan Center for Economic Research (JCER) as a Junior Economist
1993 Staff Writer at Economic News Department
1990 Joined Nikkei Inc as a Staff Writer at Financial News Department, Editorial Bureau
Latest Reports
- 2023/09/21
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Research Report ｜ Financial Research
The Bank of Japan’s Special Deposit Facility: 94% of Regional Banks Eligible for Support, with Total Special Remuneration Over Five Years Expanding to Approximately 200 Billion Yen
- 2023/04/19
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Research Report ｜ Financial Research
If the YCC is Lifted, Long-term Interest Rates could Rise to 0.8–1.1%; Aftermath for Businesses and Public Finances
- 2023/04/19
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Research Report ｜ Financial Research
Need to revise YCC, but burden on households and banks could increase
1% increase in adjustable mortgage rates increases early repayment probability by 25%
- 2022/08/24
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Research Report ｜ Financial Research
The Actual State of Branch Consolidation in Japanese Banks
Full List
Lectures
【Professional Experiences】
2017-2019 Guest Professor at Keio University
2014-2016 Part-time Lecturer at Gakushuin University
2009-2012 Commentator for “Nikkei Japan Report”, the business program produced by Nikkei Inc.
2008 Speech at the Seminar on‘Saving and Spending: Banking Crises and Consumer Confidence’, organized by the Daiwa Anglo-Japanese Foundation and the Japan Society
2004-2006 Member of the Advisory Council for the System of National Accounts, the Cabinet Office
Papers. etc.
【Selected Papers and Articles Published in English】
・“Novel Coronavirus Increases Financial Market Stress― Redefinition of the financial industry through digitalization and financial market reform”, with JCER Financial Research Team, Japan Financial Report No.42, July 2020
・“Risks in the BOJ’s ETF Purchases and Regional Financial Institutions― A stress event could reignite financial system anxiety”, with JCER Financial Research Team, Japan Financial Report No.41, Feburary 2020
・“Prolongation of Quantitative and Qualitative Monetary Easing and Management Stability of Regional Financial Institutions - Acceleration in restructuring of regional financial institutions due to population decline, and negative impacts longevity have on monetary policy operations, 2019”, with JCER Financial Research Team, Japan Financial Report No.40, MAY 2019
・“Rise in interest rate risk of regional banks under new phase of monetary easing - Application of new interest rate risk standard to domestic banks from the fiscal year ending March 31, 2019”, with JCER Financial Research Team, Japan Financial Report No.39, FEB 2019
・“Bank of Japan losses from QQE exit, Need for government injection may threaten independence” OMFIF,The Bulletin Vol.9 Ed.4, April 2018
・“The BOJ’s Monetary Policy Dilemma - Fear that whether the BOJ heads for an exit or maintains monetary easing, it will put a burden on the nation”, (with Tetsuaki Takano and others) Japan Financial Report No.38, APR 2018
・“Yield Curve Control Has Enhanced Policy Sustainability - Exit Made More Difficult by Continuing Purchases of Risky Assets”, (with Kazumasa Iwata and others) Japan Financial Report No.37, FEB 2018
・“Exit from QQE－What loss will the BOJ incur if it exits QQE right now?” (with Tetsuaki Takano) Japan Financial Report No.36, September 2017
・“BOJ's ETF Purchases Expanding Steadily - How long will the BOJ hold risky assets with no maturity?” (with Tetsuaki Takano) Japan Financial Report No.35, July 2017
・“Pace of Increase in BOJ’s holding of JGBs Slowing - Does the purchase limit risk still remain?” (with Tetsuaki Takano) Japan Financial Report No.34, MAY 2017
・“Narrowing Japan’s monetary policy paths―Escaping deflation through fiscal dominance” OMFIF,The Bulletin Vol.8 Ed.5, May 2017
・“Narrowing Monetary Policy Options―Is the FTPL an effective way to escape deflation?”（with Kazumasa Iwata and others）Japan Financial Report No.33, April 2017
・“BOJ's JGB Purchasing Limits to be Reached in Summer 2017―Is the Bank carrying out Fiscal Policy? ”（with Kazumasa Iwata and others）Japan Financial Report No.32, November 2016
・“From Quantity to Interest Rate Focus: BOJ Drops Monetary Base Target―Flexible JGB Buying Added as Long-Term Interest Rate Policy Focus”（with Kazumasa Iwata and others）Japan Financial Report No.31, September 2016
・“Risks and Challenges for BOJ after breaking through ZLB - Accelerate move toward establishing a ‘Cashless Society’”（with Kazumasa Iwata and others）Japan Financial Report No.30, April 2016
・“Risks from Extending the QQE Policy - Bank of Japan’s JGB Purchases to reach Limits in June 2017”（with Kazumasa Iwata and others）Japan Financial Report No.29, January 2016
・“Surprise Supplementary Measures for QQE Announced ― BOJ plays down Concerns over JGB Purchasing Limits?”（with Kazumasa Iwata and others）Japan Financial Report No.28, December 2015
・“Plunge in New Housing Starts Means Existing Homes Market Expansion Is Key”（with Kazumasa Iwata and others）Japan Financial Report No.27, January 2015
・“Regional Finance in an Age of Population Decline”（with Kazumasa Iwata and others）Japan Financial Report No.26, January 2015
・“Quantitative and Qualitative Monetary Easing Effects and Associated Risks,”（with Kazumasa Iwata）Japan Financial Report No.25, December 2013
・“Ownership Structure and the Risk-Return Profiles of Japanese Stocks”（with Kaoru Hosono and Hideaki Murase）Corporate Ownership and Control, Volume 7 Issue 1, pp 9-17, 2009
・“Depositors' response to deposit insurance reforms: Evidence from Japan, 1990-2005”（with Masaru Konishi）Journal of Financial Services Research, Volume31, Issue2, pp101-122, 2007
【Books Published in Japanese】
“Kinyu Seijoka eno Jirenma” co-editor and co-author, Nikkei Publishing Inc., 2018
“Gekiron Mainasu Kinri Seisaku” co-editor, Nikkei Publishing Inc., 2016
“Mainasu Kinri Seisaku” co-editor and co-author, Nikkei Publishing Inc., 2016
“Nihon Kinyu Kenkyu” No.1-No.6, co-editor and co-author, JCER, FY2013-2015
“Ryouteki Shitsuteki Kinyu Kanwa”, co-editor and co-author, Nikkei Publishing Inc., 2013
“Kinyu Fukyou no Jisshou Bunseki”, co-editor and co-author, Nikkei Inc., 2000
“Kenshou Seiho Kiki”, co-editor and co-author, Nikkei Inc., 2000
“Nihon Kinyu Kenkyu” No.1-No.6, co-editor and co-author, JCER, FY1999-2002
