Chihiro Shimizu, PhD 清水千弘(しみずちひろ)
Professor, Center for Spatial Infprmation Science, The University of Tokyo.
Professor, Nihon University
Research Affiliate, Center for Real Estate
Massachusetts Institute of Technology
Fields of Interest
Index Number and Theory, Real Estate
Economics, Applied Econometrics, Public Economics & Policy
DATE OF BIRTH
May 28, 1967(Gifu,Oogaki)CITIZENSHIP
Chihiro Shimizu, Ph.D, FRICS, CRE
Chihiro Shimizu, Ph.D., is Professor of
Nihon University, Expert advisor of Statistics Commission in Japan and research
affiliate of Center of Real Estate at Massachusetts Institute of Technology in
US. His areas of expertise are Index Theory, Real Estate Economics, Applied
Econometrics and Machine Learning.
Before joining Nihon University, Dr. Shimizu was Professor at Department
of Economics, Reitaku University and the Institute of Real Estate Studies,
National University of Singapore and Visiting Professor, University of
British Columbia. He has served as an advisor for various research councils
at the Ministry of Finance, Financial Service Agency(FSA), Cabinet Office,
Ministry of Economy, Trade and Industry and the Ministry of Land, Infrastructure,
Transport and Tourism in Japan.
From 2013 to 2015 he participated as a
specialist in a project promoted mainly by the IMF, OECD, and others related to
preparing international commercial real estate price indices. He has contributed
a number of theses to international academic journals as well as published
numerous theses and books in Japan. His research has received many awards from
a number of academic bodies. He was born in 1967 and received his doctorate
from the University of Tokyo.
University of Tokyo,(PhD), Tokyo Institute
of Technology, (Doctorial Course) 1994
Nihon University,(MS.Economics) 1992
Nihon University,(BA.Economics) 1990
2019-present Professor of Center for Spatial Infprmation Science, The University of Tokyo (Japan).
2016-present Professor of Economics and Statistics, Nihon University (Japan).
2015-2017 Professor of Institute of Real
Estate Studies, National University of Singapore(Singapore).
2015-present Visiting Professor of The
Faculty of Economics, Reitaku University(Japan).
2014-present Research Affiliate of Center
for Real Estate, MIT:Massachusetts Institute of Technology, (USA)
2008-present Visiting Research Fellow of
the Center for Spatial Information Science, The University of Tokyo(Japan).
2011-2015 Professor of The Faculty of
Economics, Reitaku University(Japan).
2005-2010 Associate Professor of The
Faculty of Economics, Reitaku University(Japan).
2013-2015 Visiting Professor of Institute
of Real Estate Studies, National University of Singapore(Singapore).
2011-2015 Visiting Professor of The
Department of Economics, University of British Columbia(Canada).
2011-2015 Visiting Professor of The
Department of Real Estate and Construction, The University of Hong Kong(China).
2011-2015 Visiting Professor, National
Graduate Institute for Policy Studies(Japan).
2007-2010 Visiting Associate Professor,
National Graduate Institute for Policy Studies(Japan)
2007-2010 Visiting Associate Professor of
the Economic Research Institute, Hitotsubashi University (Japan).
2007-2008 Visiting Associate Professor of
the Center for Spatial Information , The University of Tokyo(Japan).
2004-2006 Visiting Lecturer of the Graduate
School of Finance, Accounting and Law, Waseda University(Japan).
2000-2005 Chief Research Fellow, Recruit
1992-2000 Research Fellow, Japan Real
2011-present Member of CRE: Counselors of
Real Estate, USA
2011-present Fellow Member of RICS(Royal
Institution of Chartered Surveyors), UK
A. Peer Review Papers
 Hill, R, M. Scholz, C. Shimizu and M.Steurer (2018) “An Evaluation of the Methods Used by European Countries to Compute their Official House Price Indices,” Economie et Statistique n 500-501-502, 221–238.
 Wong.,SK, KW Chau, K. Karato, C.Shimizu (2017), “Separating the Age Effect from a Repeat Sales Index:Land and structure decomposition,” Journal of Real Estate Finance and Economics, published online.( https://doi.org/10.1007/s11146-017-9631-2)
 Shimizu, C. (2017), “Micro-Structure of Asset Prices, Property Income, and Discount Rates in Tokyo Residential Market,”International Journal of Housing Market and Analysis, 10 (4), 552-571.
 Diewert, W. E. and C. Shimizu. (2017), “Alternative Approaches to Commercial Property Price Indexes for Tokyo”, Review of Income and Wealth, 63(3), 492-519.
 Yoshida, J., J.Onishi and C. Shimizu (2017), “Energy Efficiency and Green Building Markets in Japan,” A chapter in a book on Green Buildings edited by Ed Coulson, Yongsheng Wang, and Cliff Lipscomb.Chapter 7, 139-160.
 Tamai, Y., C. Shimizu and K. G. Nishimura. (2017), “Aging and Property Prices: Theory of a Very Long Run and Prediction on Japanese Municipalities in the 2040s”, Asian Economic Policy Review. 16(3), 48-74.
 Diewert, W. E. and C. Shimizu (2016), “Hedonic Regression Models for Tokyo Condominium Sales,”Regional Science and Urban Economics, 60, 300-315.
 Shimizu,C, K.G.Nishimura and T.Watanabe(2016), “House Prices at Different Stages of Buying/Selling Process ,”Regional Science and Urban Economics, 59, 37-53.
 Fujimoto,S., T.Ohnishi, T.Mizuno, C. Shimizu and T.Watanabe (2016), “Relationship between population density and population movement in inhabitable lands,” Evolutionary and Institutional Economics Review (64).published online.
 Fuerst, F and C. Shimizu (2016) , The Rise of Eco-Labels in the Japanese Housing Market,” Journal of Japanese and International Economy, 39, 108-122.
 Saita,Y., C.Shimizu and T.Watanabe(2016), “Aging and Real Estate Prices: Evidence from Japanese and US Regional Data,” International Journal of Housing Markets and Analysis, 9, 69-87.
 Diewert, W. E., K. Fox and C. Shimizu (2016), “Commercial Property Price Indexes and the System of National Accounts,” Journal of Economic Surveys, 30(5), 913-943.
 Diewert, W. E. and C. Shimizu (2015), “Residential Property Price Indexes for Tokyo,” Macroeconomic Dynamics, 19(8),1659-1714.
 Karato, K, O. Movshuk and C. Shimizu (2015), “Semiparametric Estimation of Time, Age and Cohort Effects in An Hedonic Model of House Prices ,” Asian Economic Journal, 29(4), 325–345.
 Diewert, W. E. and C. Shimizu (2015), “A Conceptual Framework for Commercial Property Price Indexes,” Journal of Statistical Science and Application, 3(9-10), 131-152.
 Shimizu, C., W. E. Diewert, K. G. Nishimura and T. Watanabe (2015) , “Estimating Quality Adjusted Commercial Property Price Indexes Using Japanese REIT ,” Journal of Property Research, 32(3), 217-239.
 Shimizu, C., K. G. Nishimura and K. Karato (2014), “Nonlinearity of
Housing Price Structure -Secondhand Condominium Market in Tokyo Metropolitan
Area-,” International Journal of Housing Markets and Analysis, 7(3), 459-488.
 Yasumoto, S., A. Jones and C. Shimizu (2014), “Longitudinal trends
in equity of park accessibility in Yokohama, Japan: An investigation of
the role of causal mechanisms,” Environment and Planning A,46, 682 –699.
 Shimizu, C. (2014), “Estimation of Hedonic Single-Family House Price
Function Considering Neighborhood Effect Variables,” Sustainability,6,
 Shimizu, C (2013), “Sustainable Measures and Economic Value in Green
Housing,” Open House International Journal, 38(3), 57-63.
 Shimizu, C. (2012), “Selection of the Winning Office Investment Market
in Tokyo,” Real Estate Issue, 37(2-3), 51-60.
 Ohnishi, T., T. Mizuno, C. Shimizu and T. Watanabe (2012), “Power
Laws in Real Estate Prices During Bubble Periods,” International Journal
of Modern Physics, 16, 61-81.
 Shimizu, C., K. G. Nishimura and T. Watanabe (2010), “House Prices
in Tokyo - A Comparison of Repeat-sales and Hedonic Measures-,” Journal
of Economics and Statistics, 230 (6), 792-813.
 Shimizu, C., K. G. Nishimura and T. Watanabe (2010), “Residential
Rents and Price Rigidity: Micro Structure and Macro Consequences,” Journal
of Japanese and International Economy, 24, 282-299.
 Shimizu, C., K. Karato and Y. Asami (2010), “Estimation of Redevelopment
Probability using Panel Data-Asset Bubble Burst and Office Market in Tokyo-,”
Journal of Property Investment & Finance, 28(4), 285-300.
 Shimizu, C., H. Takatsuji, H. Ono and K. G. Nishimura (2010), “Structural
and Temporal Changes in the Housing Market and Hedonic Housing Price Indices,”
International Journal of Housing Markets and Analysis, 3(4), 351-368.
 Shimizu, C. and K. G. Nishimura (2007), “Pricing structure in Tokyo
metropolitan land markets and its structural changes: pre-bubble, bubble,
and post-bubble periods,” Journal of Real Estate Finance and Economics,
 Shimizu, C. and K. G. Nishimura (2006), “Biases in appraisal land
price information: the case of Japan,,” Journal of Property Investment
& Finance, 24(2), 150- 175.
 Shimizu, C., K. G. Nishimura and Y. Asami (2004), “Search and Vacancy
Costs in the Tokyo housing market: Attempt to measure social costs of imperfect
information,” Regional and Urban Development Studies,16(3), 210-230.
 Sato, A, C. Shimizu, T. Mizuno, T. Ohnishi, T. Watanabe (2015), “Relationship
between job opportunities and economic environments measured from data
in internet job searching sites,”,19th International Conference on Knowledge-Based
and Intelligent Information & Engineering Systems (KES2015), Marina
Bay Sands Exp, Singapore (Invited session).
 Nishi, H., Y. Asami, and C.Shimizu(2018), “Housing Features and Rent:
Estimating the Microstructures of Rental Housing” International Journal
of Housing Market and Analysis, forthcoming, DOI (10.1108/IJHMA-09-2018-0067).
B. Work on Progress
 Badarinza, C., T. Ramadorai, and C.Shimizu. (2018), “Nationality Bias at Home and Abroad: Theory and Evidence from Commercial Real Estate,” SSRN-id3141255.
 Deng, Y., J. Onishi , C. Shimizu and S.Zheng (2018), “The Economic Value of Environmental Consideration in the Tokyo Office Market,”CSIS Discussion paper 155, The University of Tokyo.
 Syed, I and C.Shimizu(2018) , “Measuring Economic Depreciation of Commercial Real Estate using Cash Flow Data,”Presented at Society of Economic Measurement, D-4-1(Xiamen University, China).
 Deng, Y; X. Guo, D. McMillen and C. Shimizu(2018), “Change in the Distribution of Sale/Rental Prices: Comparison of Beijing and Tokyo,” Presented at Society of Economic Measurement, D-4-3(Xiamen University, China).
 Deng, Y; X. Guo, D. McMillen and C. Shimizu(2018), “Spatial Estimates of Bubbles: Tokyo House Prices and Rents,”Presented at AREUEA-Asia2018, (Jinan University, China)
 Deng, Y; X. Guo, D. McMillen and C. Shimizu(2018), “Distributional House Price Indices for Tokyo Metropolitan Area,”Presented at ASA Philadelphia 2018.
 Shimizu, C., and M. Nakagawa (2018), Aging and House Prices: The Impact of Aging Housing Stock to Housing Market in the Tokyo Metropolitan Area, Graduate School of Economics, Hitotsubashi University Discussion Paper No. 2018-01.
 Yoshida,J., K. Kawai, D. Geltner and C.Shimizu. (2017) , “How rents and expenditures depreciate? A case of Tokyo office properties,” Presented at Economic Measurement Workshop 2017.
 Hill, R. M. Scholz and C. Shimizu (2017) , “Weekly Hedonic House Price Indices and the Rolling Time Dummy Method: An Application to Sydney and Tokyo,” Presented at Economic Measurement Workshop 2017.
 Deng, Y, Tnoue., K.Nishimura and C. Shihizu (2017) , “Aging and Property Prices: Evidence from a Diverse Economies,” Presented at Economic Measurement Workshop 2017.
 - Deng, Y, Tnoue., K.Nishimura and C. Shihizu (2017) , “Aging and CPI Inflation: A Heterogeneous International Panel Approach,”Presented at ATRC Conference,(The University of Kent, UK).
 McMillen, D and C.Shimizu (2017), Decompositions of Spatially Varying
Quantile Distribution Estimates:The Rise and Fall of Tokyo House Prices.,
HIT-REFINED Working Paper, 74.
 Diewert, W. E. and C. Shimizu (2017), “Alternative Land Price Indexes for Commercial Properties in Tokyo,” Discussion Paper 17-07, Vancouver School of Economics, University of British Columbia.
 Mizuta, T., C. Shimizu and I. Uesugi(2016), “How Inheritance Affects the Real Estate Market in an Aging Economy: Evidence from Transaction and Registry Data,” HIT-REFINED Working Paper, 62.
 Miyakawa,D., C.Shimizu and I.Uesugi (2016), “Geography and Realty Prices: Evidence from International Transaction-Level Data,” HIT-REFINED Working Paper, 52.
 Shimizu, C., S. Yasumoto, Y. Asami and T. N. Clark(2014), “Do Urban
Amenities drive Housing Rent?,” CSIS Discussion Paper: (The University
of Tokyo), No.131.