Working Papers:
Unequal Wage Cyclicality: Evidence, Theory, and Implications for Labor Market Volatility, 2025, Accepted at Journal of Political Economy Macroeconomics
Large Firms and Monetary Policy Surprises: Unraveling Excessive Stock Price Sensitivity (with Masayuki Okada), July 2025
Are Final Market Prices Sufficient for Information Aggregation? Evidence from Last-Minute Dynamics in Parimutuel Betting (with Hiroaki Hanyu, Shunsuke Ishii, and Suguru Otani)
Prolonged Monetary Easing in the United States and Financial Instability in Emerging Countries, 2019.
Published Papers:
A Dynamic Model of Rational "Panic Buying'' (with Shunya Noda), Quantitative Economics, 15(2):489-521, May 2024. [bibtex]
Slides (90 mins)
Cyclical Part-Time Employment in an Estimated New Keynesian Model with Search Frictions (with Toshihiko Mukoyama and Mototsugu Shintani), Journal of Money, Credit, and Banking, 53(8):1929-1968, December 2021. [bibtex]
Slides (20 mins for 2020 SEA Meetings)
Non-Refereed Publications:
Endogenizing Technological Growth in DSGE Models: A Macroeconomic Analysis of Medium-to Long-Term Cycles, Innovation, and Demographic Dynamics. July 2025, Economic Analysis (Keizai Bunseki in Japanese), 210.
External and Internal Job Mobility: Descriptive Evidence from Business Card Data in Japan (with Masataka Eguchi, Yutaka Kuroki, Susumu Sato, and Takahiro Toriyabe), December 2024, The Japanese Journal of Labour Studies, 773, 4–18. (in Japanese)
Revisiting UV Curve and Wage Phillips Curve from the DSGE View (with Masataka Eguchi), 2017, The Monthly Journal of the Japan Institute of Labour, 683, 23-43. (in Japanese)
Work in Progress
Debt Sustainability in a Stochastic r-g Economy (with Masataka Eguchi and Masakazu Emoto)
Asymmetries in International Business Cycles: A DSGE Model with Endogenous Growth through Innovation and Imitation (with Mototsugu Shintani)
Gross Worker Flows: Financial Shocks, Cyclical Discounts, and Labor Market Participation (with Takeki Sunakawa and Francesco Zanetti)
Can Internal Reassignments Help Prevent Employee Attrition?: Evidence from Japanese Business-Card Data (with Masataka Eguchi, Yutaka Kuroki, Susumu Sato, and Takahiro Toriyabe)
Old Unpublished Papers
Does Matching Efficiency Explain the Shift in the Beveridge Curve? Not after the Great Recession (with Masataka Eguchi), 2016, mimeo