My Recent Work

"Emerging Market Currency Excess Returns (with Stephen Gilmore, November 2008, revised April 2010, Feb. 2011 version)

"The Fundamentals of Commodity Futures Returns" (with Gary B. Gorton and K. Geert Rouwenhorst, June 2007)
(click here (pdf) for January 2012 version, also available at SSRN)

"The Depressing Effect of Agricultural Institutions on the Prewar Japanese Economy" (with Edward C. Prescott, February 2006)

"Commodity Futures: A Japanese Perspective" (with Gary Gorton and K. Geert Rouwenhorst, September 2005)

"Can IT be Japan's Savior?" (with Koji Nomura, September 2005)

"The Over-Investment Hypothesis" (November 2004)

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