Research
Working Papers
Double/debiased Machine Learning for Causal Inference on Survival Function (with Daijiro Kabata), May 2024.
International Comparison of Climate Change News Index with an Application to Monetary Policy (with Takuji Fueki and Takeshi Shinohara), April 2024.
Macroeconomic Effects of Monetary Policy in Japan: An Analysis Using Interest Rate Futures Surprises (with Hiroyuki Kubota), February 2023.
Instrumental Variables Estimation for Infinite Order Panel Autoregressive Processes (with Yoon-Jin Lee and Ryo Okui), February 2023.
Monetary Policy, Labor Force Participation, and Wage Rigidity (with Hiroyuki Kubota and Ichiro Muto), November 2022.
Inference of Jumps Using Wavelet Variance (with Heng Chen), November 2021.
The Effects of QQE on Long-run Inflation Expectations in Japan (with Naoto Soma), October 2020.
A Behavioral Explanation for the Puzzling Persistence of the Aggregate Real Exchange Rate (with Mario J. Crucini and Takayuki Tsuruga), June 2020.
Johansen Test with Fourier-type Smooth Non-linear Trends in Cointegrating Relations (with Takamitsu Kurita), April 2020.
Trigonometric Trend Regressions of Unknown Frequencies with Stationary or Integrated Noise (with Pierre Perron and Tomoyoshi Yabu), January 2020.
Recent Publications
Estimating a Behavioral New Keynesian Model with the Zero Lower Bound (with Yasuo Hirose, Hirokuni Iiboshi and Kozo Ueda), Journal of Money, Credit and Banking, forthcoming.
On Propensity Score Misspecification in Double/debiased Machine Learning for Causal Inference: Ensemble and Stratified Approaches (with Daijiro Kabata), Communications in Statistics - Simulation and Computation, forthcoming.
News Implied Volatility and Aggregate Economic Activity: Evidence from the Japanese Government Bond Market (with Keiichi Goshima and Hiroshi Ishijima), Applied Economics Letters, 31(6), March 2024, Pages 568-573.
Trend Inflation and Evolving Inflation Dynamics: A Bayesian GMM Analysis (with Yasufumi Gemma and Takushi Kurozumi), Review of Economic Dynamics, 51, December 2023, Pages 506-520.
Variable Selection in Double/debiased Machine Learning for Causal Inference: An Outcome-Adaptive Approach (with Daijiro Kabata), Communications in Statistics - Simulation and Computation, 52 (12), December 2023, Pages 5880-5893.
Identifying the Source of Information Rigidities in the Expectations Formation Process (with Kozo Ueda), Journal of Economic Dynamics and Control, 150, May 2023, Article 104653.
Sticky Wages in a World of Ideas (with Kevin X.D. Huang, Munechika Katayama and Takayuki Tsuruga), Economic Inquiry, 60(4), October 2022, Pages 1757-1781.
Estimating a Nonlinear New Keynesian Model with a Zero Lower Bound for Japan (with Hirokuni Iiboshi and Kozo Ueda), Journal of Money, Credit and Banking, 54(6), September 2022, Pages 1637-1671.
High-Frequency Identification of Monetary Policy Shocks in Japan (with Hiroyuki Kubota), The Japanese Economic Review, 73 (3), July 2022, Pages 483-513. (Data)
Cyclical Part-Time Employment in an Estimated New Keynesian Model with Search Frictions (with Toshihiko Mukoyama and Kazuhiro Teramoto), Journal of Money, Credit and Banking, 53 (8), December 2021, Pages 1929-1968.
Forecasting Japanese Inflation With a News-based Leading Indicator of Economic Activities (with Keiichi Goshima, Hiroshi Ishijima and Hiroki Yamamoto), Studies in Nonlinear Dynamics & Econometrics, 25(4), September 2021, Pages 111-133.
Missing Wage Inflation? Estimating the Natural Rate of Unemployment in a Nonlinear DSGE Model (with Yuto Iwasaki and Ichiro Muto), European Economic Review, 132, February 2021, Article 103626.
Macroeconomic Forecasting Using Factor Models and Machine Learning: An Application to Japan (with Kohei Maehashi), Journal of the Japanese and International Economies, 58, December 2020, Article 101104. (Data)