Professor
Faculty of Economics, Keio University
Email: yhirose{at}econ.keio.ac.jp


Working Papers

"The Natural Rate of Interest in a Nonlinear DSGE Model" (with Takeki Sunakawa), CAMA Working Paper Series, 2017, 38/2017, Centre for Applied Macroeconomic Analysis, Australian National University.

"Monetary Policy and Macroeconomic Stability Revisited" (with Takushi Kurozumi and Willem Van Zandweghe), Research Working Papers, 2017, 17-01, Federal Reserve Bank of Kansas City.

"Monetary Policy, Trend Inflation, and the Great Moderation: An Alternative Interpretation: Comment Based on System Estimation" (with Takushi Kurozumi and Willem Van Zandweghe
), Research Working Papers, 2015, 15-17, Federal Reserve Bank of Kansas City.

"Parameter Bias in an Estimated DSGE Model: Does Nonlinearity Matter?" (with Takeki Sunakawa
), CAMA Working Paper Series, 2015, 46/2015, Centre for Applied Macroeconomic Analysis, Australian National University.

"An Estimated DSGE Model with a Deflation Steady State,"
CAMA Working Paper Series, 2014, 52/2014, Centre for Applied Macroeconomic Analysis, Australian National University.

"Identifying News Shocks with Forecast Data" (with
Takushi Kurozumi), CAMA Working Paper Series, 2012, 1/2012, Centre for Applied Macroeconomic Analysis, Australian National University.

"Time-Varying NAIRU and Potential Growth in Japan" (with Koichiro Kamada), Working Paper Series, 2002, 02-08, Research and Statistics Department, Bank of Japan.



Published Papers
(Downloadable via RePEc Author Page)

"Changes in the Federal Reserve Communication Strategy: A Structural Investigation" (with Takushi Kurozumi), Journal of Money, Credit and Banking, 2017, 49(1), 171-185.

"
The Zero Lower Bound and Parameter Bias in an Estimated DSGE Model" (with Atsushi Inoue), Journal of Applied Econometrics, 2016, 31(4), 630-651.

"
Indeterminacy and Forecastability" (with Ippei Fujiwara), Journal of Money, Credit and Banking, 2014, 46(1), 243-251.

"Monetary Policy and Sunspot Fluctuations in the United States and the Euro Area,"
Macroeconomic Dynamics, 2013, 17(1), 1-28.

"Do Investment-Specific Technological Changes Matter for Business Fluctuations? Evidence from Japan" (with Takushi Kurozumi)
, Pacific Economic Review, 2012, 17(2), 208-230.

"The Effects of Bank of Japan's Liquidity Provision on the Year-End Premium" (with
Shinsuke Ohyama and Ken Taniguchi), Journal of the Japanese and International Economies, 2012, 26(1), 179-185.

"
Can News Be a Major Source of Aggregate Fluctuations? A Bayesian DSGE Approach" (with Ippei Fujiwara and Mototsugu Shintani), Journal of Money, Credit and Banking, 2011, 43(1), 1-29.

"Identifying the Effect of the Bank of Japan's Liquidity Facilities: The Case of Commercial Paper Operations During the Financial Turmoil" (with Shinsuke Ohyama)
, International Finance, 2010, 13(3), 461-483.

"Structural Estimation of the Output Gap: A Bayesian DSGE Approach" (with Saori Naganuma), Economic Inquiry, 2010, 48(4), 864-879.


"Learnability and Equilibrium Selection under Indeterminacy," Journal of Economic Dynamics and Control, 2008, 32(11), 3459-3477.


"Equilibrium Indeterminacy and Asset Price Fluctuation in Japan: A Bayesian Investigation," Journal of Money, Credit and Banking, 2008, 40(5), 967-999.


"Sunspot Fluctuations under Zero Nominal Interest Rates," Economics Letters, 2007, 97(1), 39-45.


"The Japanese Economic Model: JEM" (with Ippei Fujiwara, Naoko Hara, and Yuki Teranishi), Monetary and Economic Studies, 2005, 23(2), 61-142.


"A New Technique for Simultaneous Estimation of Potential Output and the Phillips Curve" (with Koichiro Kamada), Monetary and Economic Studies, 2003, 21(2), 93-112.