SENGA Tatsuro

SENGA Tatsuro

SENGA Tatsuro

Fellow (Specially Appointed)

Associate Professor, Faculty of Economics, Keio University

Activities at RIETI


Macroeconomics, Macro-Finance, Firm Dynamics

Research Projects


2015 Ph.D., Economics, The Ohio State University
2010 M.A., Economics, The Ohio State University
2006 B.A., Economics, Keio University


2020 Associate Professor, Keio University
2015 Assistant Professor, Queen Mary University of London
2006 Bank of Japan

Selected Publications and Papers

Working Papers

  • "Measuring business-level expectations and uncertainty: survey evidence and the COVID-19 pandemic", Japanese Economic Review, 2021, vol. 72, no. 3, pp. 509-532.
  • "Uncertainty, Imperfect Information, and Expectation Formation over the Firm's Life Cycle," RIETI Discussion Paper, No. 18-E-010, 2020. (with Cheng Chen, Chang Sun and Hongyong Zhang)
  • "Aggregate Consequences of Credit Subsidy Policies: Firm Dynamics and Misallocation," Review of Economic Dynamics, vol. 32, 2019, pp. 68-93. (with In Hwan Jo)
  • "A New Look at Uncertainty Shocks: Imperfect Information and Misallocation," Working Paper, 2018, Queen Mary University of London
  • "The Dynamics of Inter-firm Networks and Firm Growth," RIETI Discussion Paper, No. 17-E-110, 2017. (with Daisuke Fujii and Yukiko Saito)
  • "Firm Dynamics, Misallocation, and Targeted Policies," RIETI Discussion Paper, No. 17-E-017, 2017. (with In Hwan Jo)
  • "Policy Uncertainty and Foreign Direct Investment: Evidence from the China-Japan islands dispute," RIETI Discussion Paper, No. 16-E-090, 2016. (with Cheng Chen, Chang Sun and Hongyong Zhang)
  • "Default Risk and Aggregate Fluctuations in an Economy with Production Heterogeneity," Working Paper, The Ohio State University, 2016. (with Aubhik Khan and Julia Thomas)



Grant-in-Aid for Scientific Research B, Japan Society for the Promotion of Science (Co-I), 2017-2021
Co-lead, Economics Statistics Centre of Excellence (ESCoE) at NIESR, 2017-2020
General Research Fund and Early Career Scheme (Co-I), 2016-2018
Bank of England RDC Grant (PI), 2016-2017
Society for Computational Economics Student Prize, 2014
JMCB Travel Grant, 2012; 2014