Gunji Hiroshi

College of Economics College of EconomicsProfessor

Degree

  • Doctor of Economics, Hosei University, Mar. 2007

Research Keyword

  • 銀行
  • 経済政策
  • 金融政策
  • 金融
  • 日本経済
  • 国際金融論
  • 金融論
  • マクロ経済学

Field Of Study

  • Humanities & social sciences, Economic policy
  • Humanities & social sciences, Money and finance

Career

  • Apr. 2026 - Present
    Nihon University, College of Economics, Professor
  • Apr. 2017 - Mar. 2026
    Daito Bunka University, Faculty of Economics, Professor
  • Apr. 2012 - Mar. 2017
    Daito Bunka University, Faculty of Economics, Associate Professor
  • Apr. 2009 - Mar. 2012
    Daito Bunka University, Faculty of Economics, Lecturer
  • Apr. 2006 - Mar. 2009
    Tokyo International University, School of Economics, Lecturer
  • Apr. 2003 - Mar. 2006
    Japan Society for the Promotion of Science, Research Fellow (PD)

Educational Background

  • Apr. 2006 - Mar. 2007
    Hosei University, Graduate School of Social Sciences, Doctoral Course
  • Apr. 2000 - Mar. 2003
    Hosei University, Graduate School of Social Sciences, Doctoral Course
  • Apr. 1998 - Mar. 2000
    Hosei University, Graduate School of Social Sciences, Master's Course
  • Apr. 1993 - Mar. 1997
    Hosei University, Faculty of Economics, Department of Economics

Award

  • Oct. 2025
    Eurasia Business and Economics Society, John P. Rust Best Paper Award, 53rd EBES Conference - Madrid
    Letting the reins loose: Central bank stock purchases and corporate governance
    Kohei Aono;Hiroshi Gunji;Hayato Nakata
  • Nov. 2009
    財団法人 納税協会連合会, 税に関する論文
    1980~2003年の日本の平均限界税率の推定
    郡司 大志;宮崎 憲治

Paper

  • Effect of a funding-for-lending program: Evidence from the Bank of Japan’s COVID-19 operation
    Hiroshi Gunji; Arito Ono; Masato Shizume; Hirofumi Uchida; Yukihiro Yasuda
    Economics Letters, Apr. 2026, Refereed
  • Do reserve requirements restrict bank behavior?
    Hiroshi Gunji; Kazuki Miura
    Review of Financial Economics, Apr. 2025, Refereed
  • Re-examination of monetary policy using a shift-share regressor and instrumental variables
    Hiroshi Gunji; Kazuki Miura
    Economics Bulletin, Mar. 2025, Refereed, Not invited
  • Did the BOJ’s negative interest rate policy increase bank lending?
    Hiroshi Gunji
    The Japanese Economic Review, Jan. 2025, Refereed, Not invited
  • 日本の銀行における流動性創出指標
    郡司 大志; 小野 有人; 鎮目 雅人; 内田 浩史; 安田 行宏
    日本経済研究 = JCER economic journal, Jul. 2024, Refereed
  • Impact of the Kuroda Bazooka on Japanese households’ borrowing intentions
    Hiroshi Gunji
    Japan and the World Economy, Mar. 2024, Refereed, Not invited
  • Tax Deduction Matters: Elasticities of the Laffer Curve, Taxable Income, and Tax Revenue
    Hiroshi Gunji; Kazuki Hiraga; Kenji Miyazaki
    International Advances in Economic Research, Feb. 2024, Refereed, Not invited
  • The effect of the Bank of Japan's Exchange‐Traded Fund purchases on firm performance
    Hiroshi Gunji; Kazuki Miura; Yuan Yuan
    Asian Economic Journal, Sep. 2023, Refereed
  • Does inflation targeting really matter? Doubly robust estimation
    Hiroshi Gunji
    Applied Economics Letters, Jul. 2023, Refereed
  • Did the bank of Japan’s purchases of exchange-traded funds affect stock prices? A synthetic control approach
    Kohei Aono; Hiroshi Gunji; Hayato Nakata
    Applied Economics Letters, Nov. 2022, Refereed
  • An industrial‐organization approach to conventional and unconventional monetary policy
    Hiroshi Gunji; Kenji Miyazaki
    Economic Notes, Jun. 2021, Refereed
  • An Estimation of the Income Tax Revenue Elasticity in Japan
    郡司 大志; 平賀 一希; 宮﨑 憲治
    日本経済研究 = JCER economic journal, Jun. 2019, Refereed, Not invited
  • Bank diversification and monetary policy
    Hiroshi Gunji; Yuan Yuan
    Applied Economics Letters, Sep. 2018, Refereed, Not invited
  • Why do Japanese women work so much less than Japanese men? A business cycle accounting approach
    Gunji, H.; Miyazaki, K.
    Japan and the World Economy, Jun. 2017, Refereed, Not invited
  • 東日本大震災の家計消費への影響について:恒常所得仮説再訪 (共著)
    郡司大志; 齊藤誠; 宮崎憲治
    齊藤誠編著『震災と経済』所収,東洋経済新報社, May 2015, Not refereed, Not invited
  • Business Cycle Accounting under Catching Up with the Joneses
    Gunji Hiroshi
    Journal of International Economic Studies, Mar. 2013, Refereed, Invited
  • Optimal monetary policy in an estimated local currency pricing model
    Okano, E.; Eguchi, M.; Gunji, H.; Miyazaki, T.
    Advances in Econometrics, Dec. 2012, Refereed, Not invited
  • The international spillover effects of monetary and fiscal policies in the great recession
    三浦 一輝; 郡司 大志
    Journal of economic policy studies, 2011, Refereed, Not invited
  • Estimates of average marginal tax rates on factor incomes in Japan
    Gunji, H.; Miyazaki, K.
    Journal of the Japanese and International Economies, Jun. 2011, Refereed, Not invited
  • Another Livedoor shock?
    三浦 一輝; 郡司 大志
    Review of monetary and financial studies, Oct. 2010, Refereed, Not invited
  • Bank profitability and the bank lending channel: Evidence from China
    Hiroshi Gunji; Yuan Yuan
    Journal of Asian Economics, Apr. 2010, Refereed, Not invited
  • The impact of foreign capital on the Chinese banking market
    Yuan Yuan; Hiroshi Gunji
    China Economic Journal, Mar. 2010, Refereed, Not invited
  • Did A Rational Bubble Exist in the Vietnam Stock Market?
    Hiroshi Gunji; Kazuki Miura
    Empirical Economics Letters, 2010, Refereed, Not invited
  • Convergence across Indian states : A re-evaluation
    Gunji Hiroshi; Nikaido Yuko
    Journal of International Economic Studies, 2010, Refereed, Not invited
  • Bank competition and monetary policy
    Gunji, H.; Miura, K.; Yuan, Y.
    Japan and the World Economy, Jan. 2009, Refereed, Not invited
  • Standard Error and Confidence Interval for QALY weights
    Hiroshi Gunji; Chie Hanaoka
    Economics Bulletin, 2004, Refereed, Not invited
  • The Feldstein-Horioka Puzzle and Law
    Hiroshi Gunji
    Economics Bulletin, 2003, Refereed, Not invited
  • Structural Breaks and Currency Crises : A Stylized Fact
    Gunji Hiroshi
    Journal of international economic studies, 2003, Refereed, Not invited
  • 通貨危機と腐敗
    郡司大志
    『公共選択の研究』, 2002, Refereed, Not invited
  • Lessons from the Russian Financial Crisis
    Gunji Hiroshi
    Journal of international economic studies, 2002, Refereed, Not invited

MISC

  • Social Science of Emergency Response: Joint Study in Jurisprudence and Economics
    Gunji Hiroshi
    SOCIAL SCIENCE JAPAN JOURNAL, 2018, Refereed, Invited
  • 家計の危険資産保有における金融知識の効果—The Effect of Financial Literacy on Household Risky Asset Selection
    郡司, 大志; グンジ, ヒロシ; GUNJI, Hiroshi
    経済論集, 30 Sep. 2016
  • Japanese Business Cycle Accounting in the Period 1901-1910
    Gunji Hiroshi; Miyazaki Kenji
    経済志林, Mar. 2015, Not refereed, Invited
  • Japanese Average Marginal Tax Rates around the Time of the Collapse of Lehman Brothers Bankruptcy
    Gunji Hiroshi; Miyazaki Kenji
    経済志林, Mar. 2014, Not refereed, Invited
  • 金融知識の情報源
    郡司 大志
    個人金融, 2014, Not refereed, Invited
  • Financial Constraints and Wage Differentials : Evidence from the NLSY
    Gunji Hiroshi; Sumi Masayoshi
    経済志林, Mar. 2013, Not refereed, Invited
  • The depression following the subprime mortgage crisis
    Gunji Hiroshi; Miura Kazuki
    The Housei University economic review, Mar. 2010, Not refereed, Invited
  • 1980〜2003年の日本の平均限界税率の推定
    郡司 大志; 宮崎 憲治
    税に関する論文入選論文集, 2009, Refereed, Not invited
  • Common fundamentals in currency crises and the channels of contagion effects
    郡司 大志
    The Journal of Tokyo International University The School of Economics, 2007, Not refereed, Not invited
  • A Cointegration Approach to Estimating Contagion: An Application to the Russian Financial Crisis
    郡司 大志
    The Journal of Tokyo International University The School of Economics, 2006, Not refereed, Not invited
  • 通貨危機のコストについて
    郡司 大志
    経済学年誌, Mar. 2002, Not refereed, Not invited
  • 複数均衡間のジャンプ--ロシア危機と資産市場の伝達効果
    郡司 大志
    経済学年誌, Mar. 2000, Not refereed, Not invited
  • 通貨危機理論の展望
    郡司 大志
    法政大学大学院紀要, 2000, Not refereed, Not invited

Books and other publications

  • 金融政策の効果測定 : 銀行理論と因果推論による再検証
    郡司, 大志
    慶應義塾大学出版会, Oct. 2025
    9784766430691
  • マクロ経済学への招待
    郡司, 大志
    新世社,サイエンス社, Nov. 2024
    9784883843985
  • テキスト日本経済
    渡部 茂; 中村 宗悦; 上遠野 武司; 郡司 大志; 葛目 知秀; 濱本 知寿香; 中島 正人; 高安 雄一; 池田 剛士; 土橋 俊寛
    学文社, 2016, Not refereed
    9784762026386
  • 震災と経済
    齊藤 誠; 中川 雅之; 顧 濤; 森口 千晶; 阿部 修人; 稲倉 典子; 郡司 大志; 宮〓 憲治; 太田 總一; 遠藤 祐司; 小田 信之; 内田 浩史; 植杉 威一郎; 小野 有人; 細野 薫; 宮川 大介; 佐藤 主光; 宮崎 毅; 大竹 文雄; 明坂 弥香
    東洋経済新報社, 2015, Not refereed
    9784492223598
  • グローバル化と日本の政治・経済 : TPP交渉と日米同盟のゆくえ
    阿部, 顕三; 笠原, 英彦; 河野, 康子, グローバル化と通商政策
    芦書房, Apr. 2014
    9784755612657
  • テキスト日本経済
    渡部 茂; 中村 宗悦; 上遠野 武司; 郡司 大志; 葛目 知秀; 濱本 知寿香; 中島 正人; 高安 雄一; 池田 剛士; 土橋 俊寛; 渡部 茂; 中村 宗悦, Joint work
    学文社, Oct. 2013, Not refereed
    4762023973
  • 選好と国際マクロ経済学
    法政大学比較経済研究所; 宮崎, 憲治, 外部習慣形成を持つ RBCモデル
    法政大学出版局, Mar. 2012
    9784588602269

Lectures, oral presentations, etc.

  • 中央銀行はどれくらい当てになるか
    郡司大志
    東洋英和女学院大学国際関係研究所2022年度講演会, Nov. 2022, Invited
  • 競争度を測る
    郡司大志
    比較研シリーズNo. 26『選好と国際マクロ経済学』出版記念講演会、法政大学比較経済研究所, Jul. 2012, Invited

Courses

  • Apr. 2026 - Present
  • Apr. 2026 - Present
  • Apr. 2026 - Present
  • Apr. 2022 - Mar. 2026
  • Apr. 2009 - Mar. 2026
  • Apr. 2017 - Mar. 2025
  • Sep. 2020 - Mar. 2021
  • Apr. 2020 - Mar. 2021
  • Apr. 2020 - Aug. 2020
  • Nov. 2018 - Mar. 2020
  • Apr. 2017 - Mar. 2018
  • Apr. 2011 - Mar. 2018
  • Apr. 2015 - Mar. 2016
  • Apr. 2013 - Mar. 2016
  • Apr. 2015 - Jul. 2015
  • Apr. 2013 - Mar. 2014
  • Apr. 2012 - Mar. 2013
  • Apr. 2009 - Mar. 2011
  • Jul. 2010 - Aug. 2010
  • Apr. 2008 - Mar. 2010
  • Apr. 2007 - Mar. 2009
  • Apr. 2006 - Mar. 2009
  • Apr. 2006 - Mar. 2009
  • Apr. 2006 - Mar. 2009
  • Apr. 2007 - Jul. 2007
  • 2006 - 2007
  • May 2005 - Mar. 2006
  • May 2005 - Mar. 2006

Affiliated academic society

  • May 2023 - Present
    日本財政学会
  • 2011 - Present
    Econometric Society
  • 2004 - Present
    American Economic Association
  • 2002 - Present
    日本経済学会
  • 2000 - Present
    日本金融学会

Research Themes

  • 金融包摂、銀行の競争度、金融システムの安定性の関係
    日本学術振興会, 科学研究費助成事業, 01 Apr. 2026 - 31 Mar. 2029
    郡司 大志; 宮崎 憲治; 袁 媛
  • Policy Evaluation of the Japanese Economy in the Post-Deflationary Era: An Application of the HANK Model with Wage Rigidity
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 01 Apr. 2026 - 31 Mar. 2029
    宮崎 憲治; 平賀 一希; 郡司 大志
  • 日本の税務データに基づくマクロ経済分析
    日本学術振興会, 科学研究費助成事業, 01 Apr. 2023 - 31 Mar. 2026
    宮崎 憲治; 平賀 一希; 郡司 大志
  • ゾンビ企業のマクロ的要因分析
    日本学術振興会, 科学研究費助成事業, 01 Apr. 2023 - 31 Mar. 2026
    郡司 大志; 宮崎 憲治; 袁 媛
  • A historical investigation of financial intermediation in Japan: Unit cost of financial intermediation and bank liquidity creation
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 01 Apr. 2020 - 31 Mar. 2024
    小野 有人; 安田 行宏; 郡司 大志; 内田 浩史; 鎮目 雅人
  • ヘテロ経済モデルをもちいた日本経済の政策分析
    日本学術振興会, 科学研究費助成事業, 01 Apr. 2020 - 31 Mar. 2023
    宮崎 憲治; 平賀 一希; 郡司 大志
  • Reexamining Conventional Monetary Policy: Theory, Meta-Analysis, and Causal Inference
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 01 Apr. 2020 - 31 Mar. 2023
    Gunji Hiroshi
  • Dynamic general equilibrium models introducing the consolidated government sector
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C), 01 Apr. 2017 - 31 Mar. 2020
    Miyazaki Kenji
  • Examining Unconventional Monetary Policy through a Quasi-Experimental Design
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C), 01 Apr. 2017 - 31 Mar. 2020
    Gunji Hiroshi
  • Japanese macroeconomic policy analysis using average marginal tax rates
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C), 01 Apr. 2012 - 31 Mar. 2015
    MIYAZAKI Kenji; GUNJI Hiroshi; SAGARA Nobusumi
  • Household Finance-Comparative study in Asia
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C), 2010 - 2012
    TSURUMI Masayoshi; MIYAZAKI Kenji; KUROHANE Masako; UESAKA Takeshi; GUNJI Hiroshi; TOHO Yoem; EN En; MATSUDA Takuma; MIURA Kazuki; SUMI Masayoshi; KIM Jae In; YOO Kyeonwon; JAMES John
  • Estimating and comparing the competitiveness of banking industry
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Young Scientists (B), 2010 - 2012
    GUNJI Hiroshi
  • 通貨・金融危機の理論・実証分析
    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for JSPS Fellows, 2003 - 2005
    郡司 大志