Institute for Monetary and Economic Studies(IMES) was founded in October 1982 as an internal organ of the Bank of Japan, in commemoration of the Bank's centennial. In carrying out its research activities, IMES benefits from the advice given by the Board of Councillors and Honorary Advisers from abroad.


IMES conducts a wide range of studies on the theoretical, institutional, and historical aspects of monetary and economic issues with the aim of establishing an appropriate background for monetary policy. It functions as an important vehicle for the exchange of views with academic circles at home and abroad, and collects and provides the public with monetary and economic research. IMES has also tried to create both an atmosphere of enthusiasm for research and an environment conducive to informal discussions of prominent economic policy issues.

Councillors and Honorary Advisers

IMES invites distinguished Japanese and international scholars to assume the posts of Councillor and Honorary Adviser, which entails advising the Director-General of IMES on the institute's research activities and information exchange vis-a-vis academic circles.

Research Activities

IMES research is conducted in the following areas: theoretical and empirical analysis of monetary and economic issues; studies of legal, accounting and central banking issues; studies of information technology; and historical studies of monetary and economic issues and numismatics.


IMES organizes domestic and international conferences; the latter, scheduled annually, is attended by central bankers, researchers from international institutions, and distinguished scholars from various countries. IMES also invites scholars and other professionals to lecture at the institute, and sponsors occasional symposiums.

Research Consignment

When in-depth study cannot be conducted at IMES due to limited materials or the highly specialized knowledge required, IMES consigns such study to scholars outside the institute.

Visiting Scholars

A special feature of IMES is its system of visiting scholars, which has led to significant interaction between Japanese and foreign researchers, and thereby stimulated the institute's research. Under the system , a visiting scholar conducts research at IMES and submits a written report. The main theme is chosen in consultation with the Director-General of IMES and should contribute to the better understanding of either domestic or international aspects of economic and financial issues in Japan. Interested researchers should write to the Head of Economic and Financial Studies Division, at IMES.
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English Publications


Provision of public access to historical documents: IMES holds Bank of Japan documents in the archives due to their historical, cultural, and academic importance. The Archives provides public access to these documents (Most of the documents are available only in Japanese).

Currency Museum

IMES has been collecting and studying Japanese currencies dating from ancient times until today, as well as a variety of foreign currencies and materials related to money. In the Currency Museum, visitors can view authentic Japanese coins and notes, currency-related materials. Some of the historical materials are publicly available mainly on the website.