Yuko Imura is a Principal Researcher in the International Economic Analysis Department. Her primary research fields are international trade and finance, monetary economics and computational economics. She received her PhD in Economics from The Ohio State University.

Staff analytical notes

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Staff working papers

The Extensive Margin of Trade and Monetary Policy

Staff Working Paper 2018-37 Yuko Imura, Malik Shukayev
This paper studies the effects of monetary policy shocks on firms’ participation in exporting. We develop a two-country dynamic stochastic general equilibrium model in which heterogeneous firms make forward-looking decisions on whether to participate in the export market and prices are staggered across firms and time.

Productive Misallocation and International Transmission of Credit Shocks

Staff Working Paper 2015-19 Yuko Imura, Julia Thomas
We develop an asymmetric, two-country equilibrium business cycle model to study the role of international trade in transmitting and propagating the real effects of global financial shocks. Our model predicts that a recession in a large economy considerably alters a recession in its smaller trade partner, with distinct investment dynamics driving the transmission.

Credit Market Frictions and Sudden Stops

Staff Working Paper 2014-49 Yuko Imura
Financial crises in emerging economies in the 1980s and 1990s often entailed abrupt declines in foreign capital inflows, improvements in trade balance, and large declines in output and total factor productivity (TFP).

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Bank publications

The Economy, Plain and Simple

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Journal publications

Refereed journals


Research papers

  • Endogenous Trade Participation with Incomplete Exchange Rate Pass-Through
  • Heterogeneous Firms, Endogenous Entry,and Monetary Policy in an Open Economy
  • Endogenous Entry and Price Responsiveness
    (with Yi-Chan Tsai)
  • Collateralized Borrowing in a Two-Country DSGE Model with Production Heterogeneity
    (with Julia Thomas)
  • Credit Market Frictions and Sudden Stops