Tomohiro Hirano
Curriculum Vitae, September 13, 2023
Contact Information
Department of Economics, Royal Holloway, University of London
Egham Hill, Egham, TW20 0EX, United Kingdom
Email: tomohih@gmail.com
Current Positions
2019 September-Present, Associate Professor of Economics, Royal Holloway, University of London
2019 October-Present, Research Associate, Center for Macroeconomics, London School of Economics
2019 January-Present, Research Fellow, The Canon Institute for Global Studies, Tokyo Japan
Previous Positions
2013-2019, Assistant Professor of Economics, University of Tokyo
2016-2017, Research Fellow, The Mitsubishi Economic Research Institute
2011-2013, Non-Tenure Track Project Assistant Professor, University of Tokyo
2008-2011, Financial Services Agency, The Japanese Government
2001-2003, Chubu Alumi Corporation
Education
Doctor of Economics, University of Tokyo, 2010
Bachelor of Economics, Sophia University, 2000
Publications (Google Scholar)
Tomohiro Hirano, and Noriyuki Yanagawa (July 2010, revised October 2016). "Asset Bubbles, Endogenous Growth, and Financial Frictions",
The Review of Economic Studies, 84 (1): 406-443, 2017 (Online Link)
Tomohiro Hirano, Masaru Inaba, and Noriyuki Yanagawa (December 2011, revised August 2015). "Asset Bubbles and Bailouts",
Journal of Monetary Economics, Vol.76, S71-S89, 2015 (Online Link).
Guerron-Quintana Pablo, Tomohiro Hirano, and Ryo Jinnai (revised June 2022). "Bubbles, Crashes, and Economic Growth: Theory and Evidence,"
American Economic Journal: Macroeconomics, 15(2): 337–371, 2023 (Online Link).
Tomohiro Hirano and Alexis Akira Toda (revised Dec 2023) "Bubble Economics,"
Journal of Mathematical Economics 50th Anniversary Issue (Invited submission) , Vol. 111, 2024 (Online Link)
Tomohiro Hirano, and Alexis Akira Toda (revised Dec 2023). "Bubble Necessity Theorem,"
Forthcoming at Journal of Political Economy, (Online Link)
Recent Working Papers
Tomohiro Hirano, and Joseph E. Stiglitz (This version, April 2024) "Credit, Land Speculation, and Long-Run Economic Growth,"
Tomohiro Hirano, and Alexis Akira Toda (Firs version March 2023, Revised May 4th, 2024). "Housing Bubbles with Phase Transitions,"
Tomohiro Hirano, and Alexis Akira Toda (March 2024) "On Equilibrium Determinacy in Overlapping Generations Models with Money,"
Tomohiro Hirano, and Alexis Akira Toda (July 1st, 2023) "Unbalanced Growth, Elasticity of Substitution, and Land Overvaluation,"
Tomohiro Hirano, and Alexis Akira Toda (March 10th, 2023). "Unique Equilibria in Models of Rational Asset Price Bubbles,"
Tomohiro Hirano, Ryo Jinnai, and Alexis Akira Toda (Seventh version, Feb 13th, 2024) "Leverage, Endogenous Unbalanced Growth, and Asset Price Bubbles,"
This paper is a significant revision of an earlier manuscript circulated under the title “Necessity of Rational Asset Price Bubbles in Two-Sector Growth Economies (First version November, 2022)”
Tomohiro Hirano, and Joseph E. Stiglitz (August 15th, 2022). "Land Speculation, Booms, and Busts with Endogenous Phase Transitions: A Model of Economic Fluctuations with Rational Exuberance" NBER Working Paper No. 29745, VoxEu article
Tomohiro Hirano, and Joseph E. Stiglitz (May 30th, 2022). "Wobbly Economy: Global Dynamics with Phase and State Transitions," NBER Working Paper, No. 29806
COVID-19-related Papers
Gregory Gutin, Tomohiro Hirano, Sung-Ha Hwang, Philip R. Neary, and Alexis Akira Toda (2021) "The Effect of Social Distancing on the Reach of an Epidemic in Social Networks," Journal of Economic Interaction and Coordination, 16, 629–647.
Policy Papers
Tomohiro Hirano (2009) "Financial Innovation and Volatility," FSA Research Review, Government of Japan, Vol 5, 105-127.