Hiroki Arato

Hiroki Arato

Associate Professor

Faculty of Economics and Business Administration

Graduate School of Management

Tokyo Metropolitan University

Contact

hirokiarato at gmail.com

IDEAS

http://ideas.repec.org/e/par166.html

Research Fields

Information Economics; Macroeconomics.

Education

Ph.D. in Economics, Kyoto University, March 2009.

M.A. in Economics, Kyoto University, March 2006.

B.A. in Science, Kyoto University, March 2004.

Research

• • Published Articles

    1. "Endogenous Information Acquisition and the Partial Announcement Policy," Information Economics and Policy, 55, 100898. June 2021. (with Takeo Hori and Tomoya Nakamura. The working paper version is available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2377092.)

    2. "Endogenous Alleviation of Overreaction Problem by Aggregate Information Announcement," Japanese Economic Review, 64(3), pp.319-336. September 2013. (with Tomoya Nakamura. The working paper version is FSA Institute Discussion Paper 2011-04)

    3. "Japan's Intangible Capital and Valuation of Corporations in a Neoclassical Framework," Review of Economic Dynamics, 15(4), pp.459-478, 2012. (with Katsunori Yamada. The working paper version is ISER Discussion Paper No.772)

    4. ”The Benefit of Mixing Private Noise into Public Information in Beauty Contest Games," B.E. Journal of Theoretical Economics, Vol. 11, Iss. 1(Contributions), Article 8, pp.1-15, 2011. (with Tomoya Nakamura. The working paper version is GCOE Discussion Paper No.137)

    5. "Long-run Relationship between Inflation and Growth in a New Keynesian Framework", Economics Bulletin, Vol.29, No.3, pp.1863-1872, August 2009.

  • Published Articles in Japanese

    1. "Endogenous Information Acquisition and Information Design," Economic Review, Vol.195, No.4, pp.1-18, Kyoto University Economic Society, November 2021.

    2. "Quantitative Evaluation of the Social Value Brought by the Theatrical Workshops for Environmental Education -focusing on the reduction of energy reduction-," (with Rengyo, Yusuke Kamiya, Eriko Suenaga, Keiko Hori, Yumi Aki, and Tadahiro Taniguchi) Journal of Energy and Environmental Education, Vol.15, No.1, pp.69-77, February 2021.

    3. "Imperfect Common Knowledge in Macroeconomics ," Economic Review, Vol. 61, No. 1, pp. 33-46, Institute of Economic Research, Hitotsubashi University, January 2010 (with Tomoyuki Nakajima, In Japanese).

  • Working Papers

    1. "The Cost of Women’s Talent Misallocation in Japan 2010-2020," (with Daisuke Ozaki) Available at SSRN: https://ssrn.com/abstract=4787346, April 2024.

    2. "Welfare Effects of Partial Publicity and Partial Transparency in Endogenous Information Acquisition," (with Tomoya Nakamura) Available at SSRN: https://ssrn.com/abstract=4155967 revised on January 2023.

    3. "The Effects of High-Powered Money Growth and Reserve Rate Policy in the Model with Money Creation and Interbank Settlement," Available at SSRN: https://ssrn.com/abstract=3584125, May 2020.

    4. "Optimal Monetary Policy in a Model of Endogenous Growth with Nominal Rigidities," (Earlier versions are circulated as "Optimal Operational Monetary Policy Rules in an Endogenous Growth Model: a calibrated analysis", KIER Discussion Paper No. 663, and MPRA Paper No. 8547.) June 2009.

    5. "Tradeoff between Inflation Stabilization and Growth Maximization," KIER Discussion Paper No. 664, Kyoto University, January 2009.

• Work in Progress

  1.  Heterogeneous Beliefs, Information acquisition, and Social Learning

• Theses

• 1. "Essays on Monetary Economics," Ph.D. Dissertation, Kyoto University, December 2008.

  2. "On the Applicability of a Monetary Business Cycle Model to the Japanese Economy (Kaheiteki-keikijunkanmoderu no nihonkeizai eno tekiyoukanousei ni tsuite no bunseki)," Master Thesis, Kyoto University, January 2006. (In Japanese)

Presentations

• • Upcoming Presentation(s)

• • Past Presentations

    • 2023

1.  "The Cost of Female Talent Misallocation in Japan 2010-2020," TMU Economics Seminar, Tokyo Metropolitan University, Tokyo. (co-authored with Daisuke Ozaki. March 23, 2023)

2. "The Cost of Women’s Talent Misallocation in Japan 2010-2020," Nagoya City University, Nagoya. (presented by co-author Daisuke Ozaki, June 20, 2023)

• • • 2022

1. "Welfare Effects of Partial Publicity and Partial Transparency in Endogenous Information Acquisition," Applied Microeconomics Seminar, Tokyo Keizai University, Tokyo (presented by co-author Tomoya Nakamura, November 18, 2022)

• • • 2021

1. "Optimal Transparency of Information Dissemination," Academic Seminar at Research Institute of Capital Formation, Development Bank of Japan, Tokyo. (February 9, 2021)

• • • 2018

• • 1. 1. "A Model of Quantitative Easing and Negative Interest Rate Policy," MUETEI at Meisei University, Tokyo. (November 22, 2018)

• • • 2017

• • 1. 1. ”A Model of Quantitative Easing and Negative Interest Rate Policy,” Applied Macro Seminar at Kyoto University, Kyoto. (December 15, 2017)

       2. ”A Model of Quantitative Easing and Negative Interest Rate Policy,” Daito Bunka University, Tokyo. (November 17, 2017)

       3. ”A Model of Quantitative Easing and Negative Interest Rate Policy,” the joint seminar by Rokko Forum and RoMacs at Kobe University, Kobe, Hyogo. (October 12, 2017)

       4. ”A Model of Negative Interest Rates,” Economics Seminar at Tohoku University, Sendai, Miyagi. (July 27, 2017)

       5. ”A Model of Negative Interest Rates,” Faculty Seminar at Osaka City University, Osaka. (May 2, 2017)

       6. ”A Model of Negative Interest Rates,” DSGE Workshop, The Canon Institute for Global Studies, Tokyo. (February 18, 2017)

       7. ”A Model of Negative Interest Rate,” Workshop at Aoyama Gakuin University, Tokyo. (January 20, 2017)

• • • 2016

• • 1. 1. ”FX Market Microstructure and Macroeconomics,” Kyoto International Economics Workshop, Kyoto University, Kyoto. (May 28, 2016)

• • • 2013

• 1. 1. 1. "Implementation of Partial Announcement Policy," Economics Seminar, Tokyo Metropolitan University, Tokyo. (November 18, 2013) 

• • • 2012

      1. "Financial Market Imperfections and Boom-Bust Cycles," DSGE Conference at Hiroshima University, Hiroshima. (December 16, 2012)

      2. "Financial Market Imperfections, Boom and Bust Cycles, and Zero Lower Bound on Nominal Interest Rates," Faculty Seminar at the University of Tsukuba, Ibaraki. (November 2, 2012)

      3. "Heterogeneous Precision of Private Information in Beauty Contest Games," Conference on Macroeconomic Policy Analysis, Shinshu University, Matsumoto. (August 10, 2012)

      4. "A Theoretical Framework for Conversation Market Design," 39th SICE Symposium on Intelligent Systems, Chiba University (March 15, 2012)

      5. "Optimal Monetary Policy in a Model of Endogenous Growth with Nominal Rigidities," Macroeconomics and Econophysics Workshop, University of Tsukuba, Tokyo (January 7, 2012)

• • • 2011

• • • 1. "Optimal Monetary Policy in a Model of Endogenous Growth with Nominal Rigidities," Economics Seminar, Tokyo Metropolitan University, Tokyo (September 15, 2011)

      2. "How to Disclose Public Information, Separately or Aggregately?" Summer Workshop on Economic Theory 2011, Otaru University of Commerce, Sapporo (August 7, 2011)

      3. "How to Disclose Public Information, Separately or Aggregately?" Workshop on Macroeconomics and Finance, Hitotsubashi University, Kunitachi. (March 14, 2011)

      4. "Optimal Monetary Policy in Endogenous Growth Models with Nominal Rigidities," Theoretical Economics Workshop, Fukuoka University (January 22, 2011)

      5. "Optimal Monetary Policy in Endogenous Growth Models with Nominal Rigidities," Workshop on Productivity and Macroeconomics, Gakushuin University (January 21, 2011)

    • 2010

• • 1. 1. "Social Values of Government Research and Public Announcement: Acquiring precise information or telling clearly?," 2010 Japanese Economic Association Spring Meeting at Chiba University (June 5, 2010).

       2. "Optimal Announcement Policy in the Beauty Contest Model," Winter Institute 2010, at Biwako Resort Club, Shiga (February 28, 2010)

       3. "Social Values of Government Research and Public Announcement: Acquiring precise information or telling clearly?," DSGE Workshop, at Senshu University (February 6, 2010)

       4. "Optimal Announcement Policy in the Beauty Contest Model," Economics Work-In-Progress Seminar, at Tokyo Institute of Technology (January 12, 2010). 

• • • 2009

• • 1. 1. "Deep Habits and Interest Rate Policy", Summer Workshop on Economic Theory, at Otaru University of Commerce, Sapporo (August 9, 2009).

       2. "Inflation Dynamics in a Two-Sector Endogenous Growth Model with Nominal Rigidities", Rokko Forum, at Kobe University (February 16, 2009).

       3. "Inflation Dynamics in a Two-Sector Endogenous Growth Model with Nominal Rigidities", Macroeconomics Conference for Young Professionals, Osaka (February 8, 2009).

• • • 2008

• • 1. 1. "Long-run Relationship between Inflation and Growth in a New Keynesian Framework", Applied Economics Workshop at Kyushu University (October 29, 2008).

       2. "Long-run Relationship between Inflation and Growth in a New Keynesian Framework", Workshop for Students at Osaka University (October 11, 2008).

       3. "Optimal Operational Monetary Policy Rules in an Endogenous Growth Model: a calibrated analysis", 2008 Japanese Economic Association Autumn Meeting at Kinki University (September 14, 2008).

       4. "Optimal Operational Monetary Policy Rules in an Endogenous Growth Model: a calibrated analysis", Macroeconomics Workshop at Osaka University (January 25, 2008).

• • • 2006

• • 1. 1. "On the Applicability of Monetary Business Cycle Model to the Japanese Economy", 2006 Kyoto University Economic Association Winter Meeting at Kyoto University (February 6, 2006).

Academic Experience

• • Refereeing

Economics Bulletin, Japanese Economic Review, Japan and the World Economy, Studies in Applied Economics (Ouyou Keizaigaku Kenkyuu, in Japanese), Journal of Economic Studies, Games and Economic Behavior, Journal of Information Economics.

• • Academic Affiliation

Japanese Economic Association (since 2008).