The below information is as of September 30, 2016. It may differ from the current information.



Consulting Fellow (until September 30, 2016)

Research Fellow, Gender Equality Bureau, Cabinet Office, Government of Japan

Activities at RIETI


Japanese Economy, Macroeconomics, Health Economics, Economics of Aging

Research Projects


2002 Ph. D., Economics, University of Michigan
1999 M.A., Applied Economics, University of Michigan
1990 B.A., Law, The University of Tokyo


2012 - present Research Fellow, Gender Equality Bureau, Cabinet Office, Government of Japan
2007 - 2012 Senior Research Fellow, Institute for International Policy Studies (IIPS)
2004 - 2007 Associate Professor, Institute of Economic Research, Hitotsubashi University
2002 - 2004 Counsellor, Economic and Social Research Institute, Cabinet Office, Government of Japan
2001 - 2002 Price Policy Division, Quality-of-Life Policy Bureau, Cabinet Office
1990 - 2000 Economic Planning Agency, Government of Japan

Selected Publications and Papers


Kitai to fukakujitsusei no keizai gaku - defure keizai no micro jissho bunseki (Expectations and Uncertainty in a Deflationary Economy: A Microeconomic Analysis of the Japanese Economy; in Japanese) Nihon Keizai Shimbun Sha, Tokyo, February 2005.

Kaigo hoiku service shijou no keizai bunseki - micro data niyoru jittai kaimei to seisaku teigen (An Economic Analysis on the Elderly and Child Care in Japan: Micro-level Investigation with Policy Implication; in Japanese) (Satoshi Shimizutani and Haruko Noguchi) Toyo-Keizai Shimpo Sha, Tokyo, June 2004.

Published or Forthcoming Articles:

"Social Security Earnings Test and the Labor Supply of the Elderly: New Evidence from Unique Survey Responses in Japan," (Satoshi Shimizutani) Japanese Economic Review, forthcoming.

"Retirement Process in Japan: New Evidence from Japanese Study on Aging and Retirement (JSTAR)," (Hidehiko Ichimura and Satoshi Shimizutani) In Aging in Asia: Findings from New and Emerging Data Initiatives. James P. Smith and Malay Majmundar, Editors. Panel on Policy Research and Data Needs to Meet the Challenge of Aging in Asia. Committee on Population, Division of Behavioral and Social Sciences and Education. Washington, DC: The National Academies Press, 2012, pp. 173-204.

"Quality Growth: New Evidence from Japanese Household-level Data," (Satoshi Shimizutani) Economics Letters, vol.114, Issue 1, January 2012, pp. 76-79.

"A New Anatomy of the Retirement Process in Japan," (Satoshi Shimizutani) Japan and the World Economy, vol.23, no.3, August 2011, pp. 141-152.

"Social Security Reforms and Labor Force Participation of the Elderly in Japan," (Takashi Oshio, Akiko Oishi and Satoshi Shimizutani) Japanese Economic Review, vol. 62, no.2, June 2011, pp. 248-271.

"Deposit Insurance and Depositor Discipline: Direct Evidence on Bank Switching Behavior in Japan," (Noriko Inakura and Satoshi Shimizutani) Applied Economics, vol.42, issue 26, October 2010, pp. 3401-3415.

"Did Japan's Shopping Coupon Program Increase Spending?" (Chang-Tai Hsieh, Satoshi Shimizutani and Masahiro Hori) Journal of Public Economics, vol.94, no.7-8, August 2010, pp. 523-529.

"New Evidence on Initial Transition from Career Job to Retirement in Japan," (Satoshi Shimizutani and Takashi Oshio) Industrial Relations, vol.49, no.2, April 2010, pp. 248-274.

"The Response of Household Expenditure to Anticipated Income Changes: Bonus Payments and the Seasonality of Consumption in Japan," (Masahiro Hori and Satoshi Shimizutani) B.E. Journal of Macroeconomics, vol.9, Issue.1 (Contributions), Article 34, August 2009.

"Has Japan's Long-Term Employment Practice Survived? Developments since the 1990s," (Satoshi Shimizutani and Izumi Yokoyama) Industrial and Labor Relations Review, vol.62, no.3, April 2009, pp. 311-324.

"Overseas R&D Activities and Home Productivity Growth: Evidence from Japanese Firm-Level Data," (Yasuyuki Todo and Satoshi Shimizutani) Journal of Industrial Economics, vol. 56, no.4, December 2008, pp.752-777.

"Regional Variations in Medical Expenditure and Hospitalization Days for Heart Attack Patients in Japan: Evidence from the Tokai Acute Myocardial Study (TAMIS)," (Haruko Noguchi, Satoshi Shimizutani and Yuichiro Masuda) International Journal of Health Care Finance and Economics, vol.8, no.2, 2008, pp.123-144.

"How Do People Cope with Natural Disasters? Evidence from the Great Hanshin-Awaji (Kobe) Earthquake in 1995," (Yasuyuki Sawada and Satoshi Shimizutani) Journal of Money, Credit and Banking, vol.40, no.2-3, 2008, pp. 463-488.

"Employment Policy and Corporate Governance -An Empirical Comparison of the Stakeholder and the Profit-Maximization Model-," (Naohito Abe and Satoshi Shimizutani) Journal of Comparative Economics, vol.35, no.2, June 2007, pp.346-368.

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