Macroeconomics, Monetary Economics, International Finance
- Macroeconomy and automation (March 8, 2022 - August 31, 2024)
- Robots, Labor and the Macroeconomy (December 16, 2019 - November 30, 2021)
- Monetary and Fiscal Policy in the Low Growth Era (September 5, 2016 - March 31, 2018)
- On Monetary and Fiscal Policy under Structural Changes and Societal Aging (May 27, 2014 - March 31, 2016)
2010 D.Phil in Economics, University of Oxford
2005 Ph.D. in Applied Economics, Osaka University
2014 - Professor, Faculty of Economics, Keio University
2011 - Present Australian National University
1993 - 2011 Bank of Japan
Selected Publications and Papers
- The Delphic forward guidance puzzle in New Keynesian models, (with Yuichiro Waki), accepted, Review of Economic Dynamics.
- Foreign Exchange as a Tool for Capital Account Management, (with Scott Davis, Kevin Huang, and Jiao Wang), 2021, Journal of Monetary Economics, 117, 473-488.
- Fiscal Forward Guidance: A Case for Selective Transparency, (with Yuichiro Waki), 2020, Journal of Monetary Economics, 116, 236–248.
- Sustainable International Monetary Policy Cooperation, (with Timothy Kam and Takeki Sunakawa), 2019, Journal of Economic, Dynamics and Control, 106.
- On Two Notions of Imperfect Credibility in Optimal Monetary Policies, (with Timothy Kam and Takeki Sunakawa), 2019, Economics Letters, 174, 22-25.
- The Optimal Degree of Monetary-Discretion in a New Keynesian Model with Private Information, (with Yuichiro Waki and Richard Dennis), 2018, Theoretical Economics, 13(3), 1319-1367.
- Dealing with Time-Inconsistency: Inflation Targeting vs. Exchange Rate Targeting, (with Scott Davis and Jiao Wang), 2018, Journal of Money, Credit and Banking, 50(7), 1369-1399.
- Optimal Monetary Policy in Open Economies Revisited, (with Jiao Wang), 2017, Journal of International Economics, 108, 300-314.
- Financial Frictions and Policy Cooperation:A Case with Monopolistic Banking and Staggered Loan Contracts, (with Yuki Teranishi), 2017, Journal of International Economics, 104, 19-43.
- Purchasing Power Parity and the Taylor Rule, (with Hyeongwoo Kim, Bruce Hansen and Masao Ogaki), 2015, Journal of Applied Econometrics, 30(6), 874-903.
- Policy Regime Change against Chronic Deflation: Policy Option under Long-Term Liquidity Trap, (with Kozo Ueda and Yoshiyuki Nakazono), 2015, Journal of the Japanese and International Economies, 37, 59-81.
- "Optimal Monetary Policy with Endogenous Entry and Product Variety," (with Florin Bilbiie and Fabio Ghironi), 2014, Journal of Monetary Economics 64, 1-20
- "Indeterminacy and Forecastability," (with Yasuo Hirose), 2014, Journal of Money, Credit and Banking 46(1), 243-251
- "Indeterminacy and Forecastability," (with Yasuo Hirose), 2014, Journal of Money, Credit and Banking 46(1)
- "Global Liquidity Trap," (with Tomoyuki Nakajima, Nao Sudo and Yuki Teranishi), 2013, Journal of Monetary Economics 60(8)
- "Asymmetries in Government Bond Returns," (with Lena Koerber and Daisuke Nagakura), 2013, Journal of Banking and Finance 37(8)
- "Fiscal Multipliers and Spillovers under Global Liquidity Trap," (with Kozo Ueda), 2013, Journal of Economic Dynamics and Control 37(7)
- "Real Exchange Rate Dynamics Revisited: A Case with Financial Market Imperfections," (with Yuki Teranishi), 2011, Journal of International Money and Finance 30(7)
- "Can News be a Major Source of Aggregate Fluctuations? A Bayesian DSGE Approach," (with Yasuo Hirose and Mototsugu Shintani), 2011, Journal of Money, Credit and Banking 43(1)
"A Note on Growth Expectation," 2010, Macroeconomic Dynamics 14(2)
- "Dynamic Aspects of Productivity Spillovers, Terms of Trade and The ‘Home Market Effects'," (with Naohisa Hirakata), 2009, IMF Staff Papers 56(4)
- "A Dynamic New Keynesian Life-Cycle Model: Societal Aging, Demographics, and Monetary Policy," (with Yuki Teranishi), 2008, Journal of Economic Dynamics and Control 32(8)
Associate Editor, Japan and the World Economy