YANO Makoto

YANO Makoto

YANO Makoto


Project Professor, Institute of Economic Research, Kyoto University
Professor by Special Appointment, Sophia University

Vita and other information

Activities at RIETI


Dynamic Economics, Law and Economics, Market Organization


1981 Ph.D., Economics, University of Rochester
1980 M.A., Economics, University of Rochester
1977 B.A., Economics, University of Tokyo


2019 - Professor by Special Appointment, Sophia University
2016 - present President and Chief Research Officer (CRO), RIETI
2007 - 2018 Professor, Institute of Economics Research, Kyoto University
1996 Professor, Keio University
1994 Professor, Yokohama National University
1986 Assistant Professor, Yokohama National University
1982 Assistant Professor, Cornell University
1981 Instructor, Cornell University

Selected Publications and Papers

  • Honryo, T., and M. Yano, "Idiosyncratic Information and Vague Communication," American Political Science Review, forthcoming.
  • Yano, M., "The Foundation of Market Quality Economics," The Japanese Economic Review 60-1, 1-32, 2009.
  • Yano, M., "Competitive Fairness and the Concept of a Fair Price under Delaware Law on M&A," International Journal of Economic Theory 4-2, 175-190, 2008.
  • Yano, M., and J. Nugent, "Aid, Non-Traded Goods and the Transfer Paradox in Small Countries," American Economic Review 89-3, 431-449, June 1999.
  • Yano, M., "On the Dual Stability of a von Neumann Facet and the Inefficacy of Temporary Fiscal Policy," Econometrica 66-2, 427-452, March 1998.
  • Nishimura, K., and M. Yano, "On the Least Upper Bound of Discount Factors that are Compatible with Optimal Period-Three Cycles," Journal of Economic Theory 69-2, 306-333, May 1996 (Kazuo Nishimura and Makoto Yano).
  • Nishimura, K., and M. Yano, "Non-Linear Dynamics and Chaos in Optimal Growth: An Example," Econometrica 63-4, 981-1001, July 1995 (Kazuo Nishimura and Makoto Yano).
  • Yano, M., "Voluntary Export Restraints and Expectations: An Analysis of Export Quotas in Oligopolistic Markets," International Economic Review 30-4, 707-723, November 1989.
  • Yano, M., "Comparative Statics in Dynamic Stochastic Models: Differential Analysis of a Stochastic Modified Golden Rule State in a Banach Space," Journal of Mathematical Economics 18, 169-185, 1989.
  • Weller, P., and M. Yano, "Forward Exchange, Futures Trading and Spot Price Variability: A General Equilibrium Approach," Econometrica 55-6, 1433-1450, November, 1987.
  • McKenzie, L., and M. Yano, "Turnpike Theory: Some Corrections," Econometrica 48-7, 1839-1840, November 1980.


Member of academic societies
Japanese Economic Association, International Economics and Finance Society Japan, Western Economic Association International