1. "Policy Uncertainty and Cost of Delaying Reform: The Case of Aging Japan" [paper]
    Review of Economic Dynamics, January 2018, Vol. 27, pp.81-100. 
  2. "Can Guest Workers Solve Japan's Fiscal Problems?" [paper]
    (joint with Selahattin Imrohoroglu and Tomoaki Yamada)
    Economic Inquiry, July 2017, Vol.55: No.3, pp.1287-1307.

  3. "A Life Cycle Model of Trans-Atlantic Employment Experiences" [paper]
    (joint with Lars Ljungqvist and Thomas J. Sargent) 
    Review of Economic Dynamics, April 2017, Vol.25, pp.320-349.

  4. "When Do We Start? Pension Reform in Aging Japan"
    (based on Nakahara Prize lecture)
    Japanese Economic Review, March 2017, Vol.68:No.1, pp. 26-47.

  5. "Achieving Fiscal Balance in Japan" [paper
    (joint with Selahattin Imrohoroglu and Tomoaki Yamada)
    International Economic Review, February 2016, Vol. 57:No. 1, pp. 117-154.

  6. "Pension Reform and Individual Retirement Accounts in Japan" [paper
    Journal of The Japanese and International  Economies, December  2015, Vol. 38, pp. 111-126.

  7. "Fiscal Cost of Demographic Transition in Japan"   [paper]
    Journal of Economic Dynamics and Control, May 2015, Vol. 54, pp. 37-58.

  8. "A Life Cycle Model of Unemployment and Disability Insurance"   [paper
    Journal of Monetary Economics,  November 2014, Vol. 68, pp. 1-18.

  9. "Sustainable Social Security : Four Options" [paper]
    Review of Economic Dynamics, November 2014, Vol. 17:No.4, pp.756-779.

  10. "Social Security Reforms: Benefit Claiming, Labor Force Participation and Long-run Sustainability" [paper(joint with Selahattin Imrohoroglu)
    American Economic Journal: Macroeconomics, July 2012, Vol. 4:No.3, pp.96-127.

  11. "Hiring Subsidies, Job Creation and Job Destruction" [paper]
    (joint with Aysegul Sahin and Joseph Song)
    Economics Letters, December 2011, Vol. 111:No. 3, pp.248-251.

  12. "Macroeconomic and Redistributional Effects of Consumption Taxes in the United States"  (based on an invited lecture) [paper]
    Japanese Economic Review, March 2011, Vol. 62:No. 1, pp. 63-81.

  13. "Why Small Businesses Were Hit Harder by the Recent Recession" [paper
    (joint with Aysegul Sahin, Anna Cororaton and Sergiu Laiu)
    Current Issues in Economics and Finance, July 2011, Vol. 17: No. 4.

  14. "Labor-dependent Capital Income Taxation" [paper] [additional doc]
    Journal of Monetary Economics,  November 2010, Vol. 57: No. 8, pp. 959-974.

  15. "Short-run Fiscal Policy: Welfare, Redistribution and Aggregate Effects in the Short and Long-run" [paper]
    Journal of Economic Dynamics and Control, October 2010, Vol. 34: No. 10, pp. 2109-2125.

  16. "Individual Retirement Accounts, Saving and Labor Supply" [paper]
    Economics Letters, August 2010, Vol. 108: No. 2, pp. 197-200.  

  17. "Labor Supply Elasticity and Social Security Reform" [paper] 
    (joint with Selahattin Imrohoroglu)
    Journal of Public Economics, August 2009, Vol. 93: No. 7-8, pp. 867-878.

  18. "Taxing Capital? Not a Bad Idea After All!" [paper] [additional doc.  
    (joint with Juan Carlos Conesa and Dirk Krueger)
    American Economic Review, 2009, Vol. 99: No. 1, pp.25-48.

  19. "U.S. Tax Policy and Health Insurance Demand: Can a Regressive Policy Improve Welfare?" [paper] [additional doc.]  
    (joint with Karsten Jeske)
    Journal of Monetary Economics, March 2009, Vol. 56: No.2, pp. 210-221.

  20. "Entrepreneurship, Taxation and Capital Investment" [paper]
    Review of Economic Dynamics, January 2008, Vol. 11: No. 1, pp. 44-69.

  21. "Global Demographic Trends and Social Security Reform" [paper]
    ( joint with Orazio Attanasio and Gianluca Violante)
    Journal of Monetary Economics, January 2007, Vol. 54: No. 1, pp. 144-198.

  22. "Quantifying the Effects of the Demographic Transition in Developing Economies" [paper]
    (joint with Orazio Attanasio and Gianluca Violante)
    The B.E. Journals in Macroeconomics,
    Advances in Macroeconomics, April 2006, Vol. 6: No. 1, Article 2.


  1. "Macroeconomic Model Analysis: Demographic Aging and Social Security Reform" (in Japanese)
    In Trends in Modern Economics, Japanese Economic Association, August 2017, Chapter 3, pp. 65-98. 

  2. "Global Demographic Trends: Consumption, Saving and International Capital Flows" [paper][appendix]
    (joint with Orazio Attanasio, Andrea Bonfatti and Guglielmo Weber) 
    Handbook of the Economics of Population Aging , edited by John Piggott and Alan Woodland, North Holland, Amsterdam, November 2016, Vol. 1 A, Chapter 4.

  3. "Financing Medicare: A General Equilibrium Analysis" [paper]
    (joint with Orazio Attanasio and Gianluca Violante)
    In Demography and the Economy, edited by John Shoven, University of Chicago Press, 2011.


  1. "Fiscal and Labor Market Policies in a Dual Economy" [paper
    (joint with Julen Esteban-Pretel)

  2. "Global Demographic Trends, Capital Mobility, Saving and Consumption in Latin America and Caribbean (LAC)" [paper]
    (joint with Orazio Attanasio, Andrea Bonfatti and Guglielmo Weber) 
    Also as IDB Working Paper Series 586 [LINK]

  3. "Saving rates in China and Habit Formation" 
    (joint with Orazio Attanasio, Andrea Bonfatti and Guglielmo Weber) 

  4. "Aging Japan and Capital Movements" 
    (joint with Andrea Bonfatti and Selahattin Imrohoroglu)

  5. "Fiscal Sustainability in Japan: What to Tackle?" 
    (joint with Selahattin Imrohoroglu and Tomoaki Yamada)

  6. "Dimensions of Inequality in Japan" 
    (joint with Tomoaki Yamada)


  • "Practicing Dynare"
    (joint with Francisco Barillas, Riccardo Colacito, Christian Matthes, Thomas Sargent and Yongseok Shin)
     [available at Tom Sargent's webpage]