Research

Information at IDEAS, and EconPapers

Publications:

1. "Why is the Shape of the Laffer Curve for Consumption Tax Different from That for Labor Income Tax?" (joint work with Kazuki Hiraga)  FinanzArchiv / Public Finance Analysis Vol. 78 No. 3, 342 – 361, 2022.

2. "What Drives Fluctuations of Labor Wedge and Business Cycles? Evidence from Japan" (joint with Masaru Inaba and Daichi Shirai)  Journal of  Macroeconomics Vol.72, 103402, 2022.

3. "A Comparison of Behavior-Restriction and Test-and-Isolate Policies Using an Epidemiological Model" (joint with Keiichiro Kobayashi) Journal of International Economic Studies No.36, 139‒156, 2022.

4. "Do Credit Market Imperfections Justify a Central Bank's Response to Asset Price Fluctuations?" Journal of Economic Dynamics and Control Vol.61, Issue C, pp.81-94, 2015.

5. "Laffer Curves in Japan" Journal of the Japanese and International Economies Vol.36, Issue C, pp.56-72, 2015.

6. "What Asset Prices Should be Targeted by a Central Bank?" Journal of Money, Credit and Banking Vol.46, Issue 4, pp.817-836, 2014.

7. "Asset Prices, Nominal Rigidities, and Monetary Policy: Negative Monetary Policy Responses to Asset Price Fluctuations" Theoretical Economics Letters Vol.4, No.8, pp.634-638, 2014.

8. "Asset Prices, Nominal Rigidities, and Monetary Policy: Role of Price Indexation" Theoretical Economics Letters Vol.3, No.3, pp.182-187, 2013.

9. "An Application of Business Cycle Accounting with Misspecified Wedges" (joint work with Masaru Inaba) Review of Economic Dynamics Vol.15, Issue 2, pp.265-269, 2012.

10. "Note on Nominal Rigidities and News-Driven Business Cycles" Theoretical Economics Letters Vol. 2, No. 5, pp.431-434, 2012.

11. "Credit, Externalities, and Nonoptimality of the Friedman Rule" (joint work with Keiichiro Kobayashi and Masaru Inaba) Theoretical Economics Letters Vol. 2, No. 2, pp.203-208, 2012.

12. "Nominal Rigidities, News-Driven Business Cycles, and Monetary Policy" (joint work with Keiichiro Kobayashi) The B.E. Journal of Macroeconomics Vol.10, Issue 1 (Contributions), Article 24, pp.1-24, 2010.

13. "Internal and External Habits and News-Driven Business Cycles" Economics Letters Vol.107, Issue 2, pp.300-303, 2010.

14. "The Role of Investment Wedges in the Carlstrom-Fuerst Economy and Business Cycle Accounting" (joint work with Masaru Inaba) Economics Letters Vol.105, Issue 3, pp.200-203, 2009.

15. "Structural Changes and Economic Growth: Evidence from Japan" Economics Bulletin Vol.15, No.9, pp.1-11, 2008.

16. "Collateralized Capital and News-Driven Cycles" (joint work with Keiichiro Kobayashi) Economics Bulletin Vol.5, No.17, pp.1-9, 2007.

Working Papers:

1. "Sources of Inequality and Business Cycles: Evidence from the US and Japan" (joint with Masaru Inaba and Daichi Shirai) Latest version: April 2023  [CIGS WP version]

2. "A benefit of monetary policy response to inequality" Latest version: April 2022 [CIGS WP version]

3. "Trend Inflation, Asset Prices and Monetary Policy" Latest version: June 2021 [CIGS WP version]

4. "A comparison of behavior-restriction and test-and-isolate policies using an epidemiological model"  Latest version: May 2021 [CIGS WP version]

5. "Fragility in Modeling Consumption Tax Revenue" (joint work with Kazuki Hiraga) Latest version: Feburuary 2019 [CIGS WP version] [Appendices]

6. "Asset Prices, Nominal Rigidities, and Monetary Policy: Case of Housing Price" (Latest version: January 2017) [CIGS WP version]

7. "When is the Laffer Curve for Consumption Tax Hump-Shaped?" (joint work with Kazuki Hiraga) (Latest version: February 2016) [CIGS WP version]

8. "Dynamic Effects of Fiscal Policy in Japan: Evidence from a Structural VAR with Sign Restrictions" (joint work with Kensuke Miyazawa)(Latest version: November 2013) [CIGS WP version]

9. "Asset Price Targeting Government Spending and Equilibrium Indeterminacy in a Sticky Price Economy (Latest version: November 2013) [CIGS WP version]

10. "On Equivalence Results in Business Cycle Accounting" (joint work with Masaru Inaba) under revision

11. "Asset Pricing Accounting" (Latest version: April 2007)

12. "The Short-Run Effect of Technology Shocks: A Solow-Hall Approach" (Latest version: May 2006)

Book Review:

1. "Book Review: Mainasu-kinri seisaku: Sanjigen-kinyū-kanwa no kōka to genkai (Negative Interest Rate Policy: Effects of ‘Qualitative and Quantitative Easing with a Negative Interest Rate' and its limitation) edited by Iwata Kazumasa, Samikawa Ikuko, and Japan Center for Economic Research." Social Science Japan Journal 2018(2), pp.379-382.

(Non-refereed) Publications in Japanese:

1. "Monetary Policy Response to Oil Prices Fluctuation"  Economic Bulletin of Senshu University Vol. 56, No. 3, pp.1-9, 2022.（「原油価格変動と金融政策運営」 専修経済学論集 Vol. 56, No. 3, pp.1-9, 2022.）

2. "An Application of Business Cycle Accounting to Asset Pricing"  Economic Bulletin of Senshu University Vol. 53, No. 3, pp.127-151, 2021.（「景気循環会計の資産価格への応用」 専修経済学論集 Vol. 53, No. 3, pp.127-151, 2021.）

3. "Monetary Policy Response to Housing Price Fluctuation and Macroeconomic Stability" Economic Bulletin of Senshu University Vol. 51, No. 3, pp.153-162, 2017.（「住宅価格変動を考慮した金融政策運営とマクロ経済の安定性」 専修経済学論集 Vol. 51, No. 3, pp.153-162, 2017.）

4. "Paradoxes of Policy Effects under Zero Lower Bound of the Nominal Interest Rate: A Survey" Economic Bulletin of Senshu University Vol. 50, No. 3, pp.91-101, 2016.（「ゼロ金利下における政策効果のパラドックス：可視的アプローチによる俯瞰」 専修経済学論集 Vol. 50, No. 3, pp.91-101, 2016.）

Program Codes

1. "News-Shock Subroutine for Prof. Uhlig's Toolkit" (Latest version: October 23, 2007) [manual / subroutine file / zip file of set with examples]

Theses

1. News, Productivity, and Business Cycle Fluctuations (September, 2008) Ph.D. dissertation. University of Tokyo

2. The Short-Run Effect of Technology Shocks: A Solow-Hall Approach (January, 2006) M.A. thesis. University of Tokyo

3. Did Low Productivity Growth Cause Japan's Lost Decade? (January, 2004) B.A. thesis. University of Tokyo

Referee Service:

Applied Economics Letters; Asian Economic Journal; Bulletin of Economic Research; Economic Analysis and Policy; Economic Inquiry; Economics Bulletin; European Economic Review; International Tax and Public Finance; Japan and the World Economy; Japanese Economic Review; Japanese Journal of Monetary and Financial Economics; Journal of Economic Dynamics and Control; Journal of Macroeconomics; Journal of Money, Credit and Banking; Journal of the Japanese and International Economies; Journal of Public Economic Theory; Macroeconomic Dynamics;  Scottish Journal of Political Economy; Singapore Economic Review;

Others:

Co-Editor of the Japanese Journal of Monetary and Financial Economics (June 2022-) 

Associate Editor of the Japanese Journal of Monetary and Financial Economics (June 2018-)