Research
Working Papers
The Effects of Borrowing Limits on Hours Worked and Welfare, November 2021.
Work in Progress
Inflation and State-Dependent Wage Setting under Imperfect Insurance
Published and Forthcoming Papers
Debt Overhang and Lack of Lender's Commitment (with Keiichiro Kobayashi and Tomoyuki Nakajima), Journal of Money, Credit, and Banking, forthcoming.
Understanding International Differences in the Skill Premium: the Role of Capital Taxes and Transfers (with Ken Yamada), Journal of Economic Dynamics and Control, 143, 104511, October 2022 (previous title: The Impact of Taxes and Transfers on Skill Premium).
A Note on the Uniqueness of Steady-State Equilibrium under State-Dependent Wage Setting, Macroeconomic Dynamics, 26 (2), 533-544, March 2022.
Uninsured Idiosyncratic Risk and the Government Asset Laffer Curve (with Tomoyuki Nakajima), Journal of Macroeconomics, 71, 103391, March 2022.
The Uniqueness of Steady-State Equilibrium under State-Dependent Pricing: The Case of Deflation, Economics Letters, 209, 110136, December 2021.
Government Debt and Macroeconomy: Introduction of Analysis Based on Heterogeneous Household Model, Financial Review (in Japanese), June 2021.
Time-Varying Wage Risk, Incomplete Markets, and Business Cycles, Review of Economic Dynamics, 37, 195-213, 2020.
The Effectiveness of Consumption Taxes and Transfers as Insurance against Idiosyncratic Risk (with Tomoyuki Nakajima), Journal of Money, Credit, and Banking, 52(2-3), 505-530, 2020.
The Optimum Quantity of Debt for Japan (with Tomoyuki Nakajima), Journal of the Japanese and International Economies, 46, 17-26, 2017.
State Dependency in Price and Wage Setting, International Journal of Central Banking, 13(1), 151-189, 2017.
Heterogeneity and Aggregation: Implications for Labor-Market Fluctuations: Comment, American Economic Review, 104(4), 1446-1460, 2014.
Is the Distance to Default a Good Measure in Predicting Bank Failures? A Case Study of Japanese Major Banks (with Kimie Harada and Takatoshi Ito), Japan and the World Economy, 27, 70-82, 2013.