Yasuo Hirose

Professor

Faculty of Economics, Keio University

Email: yhirose{at}econ.keio.ac.jp

C.V.

Last update: September 30, 2021

Working Papers

"Exchange Rate Disconnect and the General Equilibrium Puzzle" (with Yu-Chin Chen and Ippei Fujiwara), 2021, CEPR Discussion Papers, DP16555, Centre for Economic Policy Research.

"Inflation Gap Persistence, Indeterminacy, and Monetary Policy" (with Takushi Kurozumi and Willem Van Zandweghe), 2021, Working Papers, 21-05, Federal Reserve Bank of Cleveland.

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

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


Published Papers (Downloadable via RePEc Author Page)

"The Natural Rate of Interest in a Nonlinear DSGE Model" (with Takeki Sunakawa), International Journal of Central Banking, forthcoming.

"Identifying News Shocks with Forecast Data" (with Takushi Kurozumi), Macroeconomic Dynamics, 2021, 25(6), 1442-1471.

"Monetary Policy and Macroeconomic Stability Revisited" (with Takushi Kurozumi and Willem Van Zandweghe), Review of Economic Dynamics, 2020, 37, 255-274.

"An Estimated DSGE Model with a Deflation Steady State," Macroeconomic Dynamics, 2020, 24(5), 1151-1185.

"Review of Solution and Estimation Methods for Nonlinear Dynamic Stochastic General Equilibrium Models with the Zero Lower Bound" (with Takeki Sunakawa), Japanese Economic Review, 2019, 70(1), 51-104.

"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.