Welcome to my personal website! I am currently a tenure-track associate professor at Kobe University Center for Social Systems Innovation. Previously I was a project assistant professor at the University of Tokyo and an economist at the Bank of Japan. I received a Ph.D. in economics at the Ohio State University.
- (September 2018) On Two Notions of Imperfect Credibility in Optimal Monetary Policies (joint with Ippei Fujiwara and Timothy Kam) is accepted at Economics Letters.
- (September 2018) A new working paper, Applying Precomputation of Integrals to Nonlinear DSGE Models with Occasionally Binding Constraints, is posted.
- (August 2018) A new version of Is Household Heterogeneity Important for Business Cycles? (joint with Youngsoo Jang and Minchul Yum) is posted.
- (July 2018) A new working paper, A Promised Value Approach to Optimal Monetary Policy (joint with Timothy Hills and Taisuke Nakata), is posted.
- Applying the Explicit Aggregation Algorithm to Heterogeneous Macro Models. September 2018. (A previous version is available as SSRN Working Paper.) A revised draft coming soon. slides
- Applying Precomputation of Integrals to Nonlinear DSGE Models with Occasionally Binding Constraints. September 2018. Submitted.
- Is Household Heterogeneity Important for Business Cycles? (joint with Youngsoo Jang and Minchul Yum) August 2018.
- A Promised Value Approach to Optimal Monetary Policy. (joint with Timothy Hills and Taisuke Nakata) July 2018. Submitted.
- The Natural Rate of Interest in a Nonlinear DSGE Model. (joint with Yasuo Hirose) May 2017. A revised draft coming soon.
- Sustainable International Monetary Policy Cooperation. (joint with Ippei Fujiwara and Timothy Kam) April 2016. Submitted.
- Parameter Bias in an Estimated DSGE Model: Does Nonlinearity Matter? (joint with Yasuo Hirose) November 2015. A revised draft coming soon.
- On Two Notions of Imperfect Credibility in Optimal Monetary Policies. (joint with Ippei Fujiwara and Timothy Kam) September 2018. (Previously titled as A Note on Imperfect Credibility) Accepted at Economics Letters.
- Financial Frictions, Capital Misallocation, and Structural Change. (joint with Naohisa Hirakata) Bank of Japan IMES Discussion Paper No. 2013-E-6, June 2013. Revision requested from Journal of Macroeconomics.
- Sustainable Pricing in a Durable Goods Monopoly. May 2012.
Selected Works in Progress
- Credible Forward Guidance (joint with Taisuke Nakata). A preliminary draft is available on request.
- Solution and Estimation Methods for Nonlinear DSGE Models with the Zero Lower Bound: A Survey (joint with Yasuo Hirose). Invited for publication in Japanese Economic Review. link to slides github repository
- Optimal Monetary Policy with Labor Market Frictions: The Role of the Wage Channel. Journal of Money, Credit and Banking, 47(6), 1119-1147, September 2015. Journal website / Online appendix / Replication files
- A Quantitative Analysis of Optimal Sustainable Monetary Policies. Journal of Economic Dynamics and Control, 52, 119-135, March 2015. Journal website / Replication files
- Inflation Dynamics and Labor Market Specifications: A Bayesian Dynamic Stochastic General Equilibrium Approach for Japan's Economy. (joint with Hibiki Ichiue and Takushi Kurozumi) Economic Inquiry, 51(1), 273-287, January 2013.
- Efficiency in a Search and Matching Model with Right-to-Manage Bargaining. Economics Letters, 117(3), 679-682, December 2012.