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.
- (Feburary 2019) New versions of Applying Precomputation of Integrals to Nonlinear DSGE Models with Occasionally Binding Constraints and The Natural Rate of Interest in a Nonlinear DSGE Model (joint with Yasuo Hirose) are posted.
- (December 2018) A new working paper, Credible Forward Guidance (joint with Taisuke Nakata), is posted.
- (November 2018) A new version of Applying the Explicit Aggregation Algorithm to Heterogeneous Macro Models (which is a substantially revised version of one chapter in my dissertation) is posted.
Optimal Monetary Policy:
- Credible Forward Guidance. (joint with Taisuke Nakata) December 2018. A revised draft coming soon.
- A Promised Value Approach to Optimal Monetary Policy. (joint with Timothy Hills and Taisuke Nakata) FEDS Working Paper 2018-083, July 2018. Submitted.
- Sustainable International Monetary Policy Cooperation. (joint with Ippei Fujiwara and Timothy Kam) CAMA Working Paper Series 14/2016, April 2016. Submitted.
- Stabilization Bias under Distorted Steady States. (joint with Katsuyuki Shibayama) May 2012.
Heterogeneous-agent macro models:
- Is Household Heterogeneity Important for Business Cycles? (joint with Youngsoo Jang and Minchul Yum) January 2019. Submitted.
- Applying the Explicit Aggregation Algorithm to Heterogeneous Macro Models. November 2018. Submitted. github repository
Nonlinear solution and estimation methods for DSGE models:
- Applying Precomputation of Integrals to Nonlinear DSGE Models with Occasionally Binding Constraints. January 2019. Submitted.
- The Natural Rate of Interest in a Nonlinear DSGE Model. (joint with Yasuo Hirose) January 2019. Submitted. The previous version is available as CAMA Working Paper Series 38/2017.
- Parameter Bias in an Estimated DSGE Model: Does Nonlinearity Matter? (joint with Yasuo Hirose) CAMA Working Paper Series 46/2015, November 2015. A revised draft coming soon.
- Financial Frictions, Capital Misallocation, and Structural Change. (joint with Naohisa Hirakata) December 2018. The previous version is available as Bank of Japan IMES Discussion Paper No. 2013-E-6. Revised and resubmitted to Journal of Macroeconomics.
- Sustainable Pricing in a Durable Goods Monopoly. May 2012.
- Review of Solution and Estimation Methods for Nonlinear DSGE Models with the Zero Lower Bound. (joint with Yasuo Hirose) Japanese Economic Review, 70(1), 51-104, January 2019. Journal website / slides (at JEA 2018 Spring meeting) / github repository
- On Two Notions of Imperfect Credibility in Optimal Monetary Policies. (joint with Ippei Fujiwara and Timothy Kam) Economics Letters, 174, 22-25, January 2019. Journal website
- 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.
University of Tokyo
- Advanced Macroeconomics
- International Finance
- Quantitative Methods for Monetary Economics