ONO Yoshiyasu

J-GLOBAL         Last updated: Oct 3, 2019 at 16:42
ONO Yoshiyasu
Osaka University
Institute of Social and Economic Research
Job title
Specially Appointed Professor, Professor Emeritus
Doctor of Economics(The University of Tokyo)
Research funding number

Research Areas


Academic & Professional Experience

Apr 1979
Mar 1981
Lecturer, Musashi University
Apr 1981
Sep 1984
Associate Professor, Musashi University
Oct 1984
Sep 1990
Associate Professor, ISER, Osaka University
Oct 1990
Mar 1996
Professor, ISER, Osaka University
Apr 1996
Mar 1999
Professor, Department of Social Engineering, Tokyo Institute of Technology
Apr 1999
Sep 2010
Professor, ISER, Osaka University
Oct 2010
Dec 2012
President, Economic and Social Research Institute, Cabinet Office, Government of Japan
Oct 2010
Dec 2012
Fellow, Osaka University
Jan 2013
Mar 2016
Professor, ISER, Osaka University
Apr 2016
Osaka University Emeritus Professor, ISER, Osaka University Specially-appointed Professor
Sep 1980
Jul 1981
British Council Scholar, London School of Economics and Political Science
Sep 1985
Aug 1987
Nitobe and Japan Foundation Fellow, Department of Economics and Center of International Studies, Princeton University
Jan 1991
May 1991
Visiting Professor, Department of Economics, The University of British Columbia
May 1993
Aug 1993
Visiting Fellow, World Bank
Jul 2013
Sep 2013
CES Visiting Scholar, Ludwig Maximilian University of Munich
Feb 2010
Sep 2010
Advisor to the Cabinet Office, Government of Japan
Jul 2017
Sep 2017
CES Visiting Scholar, Ludwig Maximilian University of Munich
Sep 2018
Oct 2018
Visiting Professor, Ecole Polytechnique


Bachelor, Department of Engineering, Tokyo Institute of Technology
Doctor, Graduate School of Economics, The University of Tokyo

Awards & Honors

Nikkei Prize for Books on Economics

Published Papers

ONO Yoshiyasu
Intereconomics/ Review of European Economic Policy   54(5) 291-296   Sep 2019   [Refereed]
Consumption Function and Keynesian Cross under Dynamic Optimization
Ono Yoshiyasu, Hashimoto Ken-ichi
Review of Keynesian Economics   forthcoming 101-122   2019   [Refereed]
Y. Ono, G. Illing and M. Schlegl
European Economic Review   (108) 78-104   Sep 2018   [Refereed]
ONO Yoshiyasu
Australian Economic Papers   57 346-362   Jul 2018   [Refereed]
Yoshiyasu Ono
Japanese Economic Review, forthcoming   69(4) 450-477   Dec 2018   [Refereed]
R. Murota and Y. Ono
Economic Modelling   51(294) 596-603   Dec 2015   [Refereed]
ONO Yoshiyasu with Y. Ogawa
Economic Record   91(294) 300-308   Sep 2015   [Refereed]
Y.Ono, S. Lahiri
Research in Economics   69(2) 238-247   2015   [Refereed]
Y.Ono, J. Ishida
Japanese Economic Review   65(1) 42-69   Mar 2014   [Refereed]
ONO Yoshiyasu
Japanese Economic Review   65(1-1) 70-92   Mar 2014   [Refereed]
Y.Ono, R. Murota
Metroeconomica   63(2) 335-357   May 2012   [Refereed]
Y.Ono, Y. Ogawa
Review of International Economics   19(5) 877-893   Nov 2011   [Refereed]
Y.Ono, S. Lahiri
Japanese Economic Review   62(3) 331-347   Sep 2011   [Refereed]
Yoshiyasu Ono
Journal of Money, Credit and Banking   43(4) 787-794   Jun 2011   [Refereed]
Y.Ono, K. Hashimoto
Japanese Economic Review   61(2) 151-169   Jun 2011   [Refereed]
Y.Ono, R. Murota
Metroeconomica   62(1) 112-149   Feb 2011   [Refereed]
Y.Ono, A. Shibata
Journal of Money, Credit and Banking   Vol.42, No.1(1) 93-112   Feb 2010
Yoshiyasu Ono
East Asia Forum   2009(12/14)    Dec 2009   [Refereed]
Y.Ono, K. Futagami, A. Kaneko, A. Shibata
Journal of Public Economic Theory   Vol.10, No.5, 743-763(5) 743-763   Oct 2008
Yoshiyasu Ono
APEC Economies Newsletter   11(3)    Mar 2007   [Refereed]
Y.Ono, S. Lahiri
Journal of Economics   91(2) 107-128   2007   [Refereed]
Yoshiyasu Ono
Japanese Economic Review   Vol.57, No.1, 101-120(1) 101-120   Mar 2006
Y.Ono, A. Shibata
Review of International Economics   Vol.14, No.1, pp.1-15/,(1) 1-15   Feb 2006
Y.Ono, A. Shibata
Review of International Economics   13, No.2, pp.216-236/,(2) 216-236   May 2005
Y.Ono, K. Ogawa and A. Yoshida
Japanese Economic Review   55(4) 355-371   Dec 2004   [Refereed]
Y.Ono, S. Lahiri
Pacific Economic Review   8(1) 1-14   Feb 2003   [Refereed]
Y.Ono, A. Shibata
Canadian Journal of Economics   34 903-920   Nov 2001
Yoshiyasu Ono
International Economic Review   42, 207-236/, 207-236   Feb 2001
Japan's Long-Run Stagnation and Yen Appreciation : A Theoretical Approach
Yoshiyasu Ono
Wirtschafts Politische Blaetter   47(4) 418-424   2000
Y.Ono, S. Lahiri
Japanese Economic Review   50(1) 118-125   Mar 1999
Y.Ono, S. Lahiri
Canadian Journal of Economics   32(1) 55-70   Feb 1999
Y.Ono, S. Lahiri
Economic Journal   108 444-457   Mar 1998
Y.Ono, S. Lahiri
Weltwirtschaftliches Archiv (Review of World Economics)   134(2) 263-279   1998
Y.Ono, S. Lahiri
Journal of Economics   65(3) 291-310   1997
Y.Ono, S. Ikeda
Journal of Economics   64(3) 265-280   1996
Y.Ono, S. Lahiri
International Economic Review   36 609-624   Aug 1995
Y.Ono, S. Lahiri
Japan and the World Economy   6 61-73   Mar 1994
Y.Ono, A. Shibata
Journal of International Economics   33 127-146   Aug 1992
Y.Ono, S. Ikeda
International Economic Review   33 629-644   Aug 1992
Yoshiyasu Ono
Economics and Politics   3 151-162   Jul 1991   [Refereed]
Japan and the World Economy   2 141-154   Jun 1990   [Refereed]
Y.Ono, S. Lahiri
Economic Record   65 27-31   Mar 1989   [Refereed]
Y.Ono, S. Lahiri
Economic Journal   98 1199-1202   Dec 1988   [Refereed]
Y.Ono, M. Itoh
Journal of International Economics   17 359-373   Nov 1984   [Refereed]
Yoshiyasu Ono
Journal of International Economics   16 335-343   Jul 1984   [Refereed]
Y.Ono, M. Itoh
Quarterly Journal of Economics   96 295-305   May 1982   [Refereed]
Economica   49 11-20   Feb 1982   [Refereed]
Yoshiyasu Ono
Economica   45 287-295   Aug 1978   [Refereed]
Yoshiyasu Ono
Economic Studies Quarterly   27 118-125   Aug 1976   [Refereed]


(Book Review)Threat of Quotas in International Trade: Their Effect on the Exporting Country. By G. L. Stockhausen. (Westport, CT and London: Greenwood Press, 1988)
ONO Yoshiyasu
Journal of Economic Literature   27 632-633   Jun 1989

Books etc

Stagnation Dynamics and Keynes’ General Theory
ONO Yoshiyasu (Part:Contributor, Chapter 5)
Keynes and Modern Economics, ed. by Ryuzo Kuroki, Routledge   Jul 2012   
Trade Policy,Exchange Rate Adjustment and Unemployment
ONO Yoshiyasu (Part:Contributor, Chapter 7)
Globalization and Economic Integration: Winners and Losers in the Asia-Pacific, ed. by Noel Gaston, Ahmed M. Khalid, Edward Elgar Publishing,   2010   
Japan’s Long-run Stagnation and Economic Policies
ONO Yoshiyasu (Part:Contributor, Chapter 2)
The Return to Keynes, ed. by Bradley Bateman, Toshiaki Hirai, Maria Cristina Marcuzzo, Harvard University Press   2010   
The Effects of New Environment on Foreign Direct Investment in an Oligopolistic Heckscher-Ohlin Model,
ONO Yoshiyasu (Part:Contributor, Chapter 19)
Contemporary and Emerging Issues in Trade Theory and Policy, ed. by Sugata Marjit and Eden Yu, Emerald: Bingley   2008   
International Transfer under Stagnation
ONO Yoshiyasu (Part:Contributor, Chapter 10)
Theory and Practice of Foreign Aid, ed. by Sajal Lahiri, Elsevier: Amsterdam   2007   
Multiple Steady States with Unemployment and Exchange-Rate Coordination
ONO Yoshiyasu (Part:Contributor, Chapter 14)
Regionalism and Globalization, ed. by Sajal Lahiri, London: Routledge   2001   
International Welfare Effects of Saving Controls and Trade Restriction
Yoshiyasu Ono (Part:Contributor, Chapter 14)
Organization, Performance and Equity : Perspective on the Japanese Economy, Kluwer Academic Publishers   1996   
Elimination of Firms and Welfare under International Oligopoly
Yoshiyasu Ono (Part:Contributor)
Imperfect Competition and International Trade, Kluwer Academic Publishers   1996   
MONEY, INTEREST, AND STAGNATION - Dynamic Theory and Keynes's Economics
ONO Yoshiyasu
Oxford University Press   1994   
Tariffs, Quotas, and Inventory Adjustment
Yoshiyasu Ono (Part:Contributor, Chapter 11)
NBER-EAST ASIA SEMINAR ON ECONOMICS Volume 3, Macroeconomic Linkage,The University of Chicago Press   1994   

Conference Activities & Talks

Long-run Stagnation in Japan: Theory and Policy
ONO Yoshiyasu
ISER-CPB Joint Workshop: Secular Stagnation in Japan and Europe   27 Sep 2019   
Country Size, Specialization Patterns and Secular Demand Stagnation
ONO Yoshiyasu
Macroeconomics Seminar   10 Sep 2018   
Wealth Preference and Secular Stagnation
Yoshiyasu Ono
CES Lectures 2017   12 Sep 2017   
Wealth Preference and Secular Stagnation: An Overview
One-day Conference on Secular Stagnation and Wealth Preference   4 Apr 2017   
Growth, Secular Stagnation and Wealth Preference
MOMA NETWORK (Markets, Organizations, Mechanisms, and Agents), III Meeting-Workshop   23 Sep 2016   
Growth, Stagnation and Wealth Preference
Osaka Conference on Growth, Stagnation and Macroeconomic Fluctuations,   13 Nov 2015   
A Theory of Secular Stagnation [Invited]
Norges Bank Research Seminar   17 Aug 2015   
“Short-run Stagnation VS. Long-run Stagnation”, “Long-run Stagnation, Zero Interest Rate and Status Preference”, “Transition from High-growth Economy to Long-run Stagnation”
Fifth Graz Schumpeter Summer School,   12 Jul 2015   
Long-run Stagnation in Japan - Theory and Policy [Invited]
IPS Presentation,   16 Jan 2015   
Exchange-rate Adjustment and Macroeconomic Interdependence between Stagnant and Fully Employed Countries
INFINITI Conference on International Finance 2015   9 Jun 2014   
A Theory of Long-run Stagnation
Economics and Finance Seminars,   22 May 2014   
A Theory of Long-run Stagnation [Invited]
ONO Yoshiyasu
BOE Seminars   21 May 2014   
Difference or Ratio: Implication of Status Preference on Stagnation
Academia Sinica ? Osaka University Joint Workshop   1 Apr 2014   
A Dynamic Theory of Persistent Stagnation
CES Lectures 2013   10 Sep 2013   
A Reinterpretation of the Keynesian Consumption Function and Multiplier Effect
Caulfield Seminar   26 Feb 2013   
Long-run stagnation ?theory and policy
EU Delegation Seminar   3 Dec 2012   
A Dynamic Theory of Stagnation:Dynamic Theory and Keynes's Economics
The 3nd Summer School on Analytical Political Economy: Equality and Welfare, 一橋大学Global GCOE 企画   1 Sep 2012   
On Persistent Demand Shortages: A Behavioral Approach
EHESS seminar,   10 Feb 2012   
“Multiplier Effect Reconsidered”, “On Persistent Demand Shortages: A Behavioral Approach”, “International Economic Interdependence and Exchange-rate Adjustment under Persistent Stagnation” [Invited]
Third Graz Schumpeter Summer School   7 Jul 2011   
Mega-disasters and a Concept of Recovery System [Invited]
ChosunBiz Japan Economic Forum   22 Jun 2011   
Economic Policy of the Present Government: A Theoretical Analysis [Invited]
NBER Japan Project Meeting,   26 Jun 2010   
International Economic Interdependence and Exchange Rate Adjustment in the Presence of Unemployment [Invited]
International Conference on Asian Economy, 2010: Globalization and the Evolution of Asian Economy,   12 May 2010   
Nominal Wage Adjustment, Demand Shortage and Economic Policy
京都大学経済研究所セミナー、   30 Mar 2010   
Nominal Wage Adjustment, Demand Shortage and Economic Policy [Invited]
6th International Keynes Conference   2 Mar 2010   
Nominal Wage Adjustment, Demand Shortage and Economic Policy [Invited]
六甲フォーラム、   29 Jan 2010   
Japan’s Long-Run Stagnation: A Theoretical Approach
Seminar   11 Mar 2009   
Trade Policy, Exchange-rate Adjustment and Unemployment [Invited]
How Globalisation is Shaping the Asia-Pacific: Multi-disciplinary Perspectives   26 Sep 2008   
Stagnation Dynamics and Keynes’s General Theory
Osaka University Forum 2007 in Groningen: Frontiers of Economics and Its Applications, Keynote Lecture,   28 Jun 2007   
Stagnation Dynamics and Keynes’s General Theory
Seminar   19 Jun 2007   
Stagnation Dynamics and the General Theory [Invited]
Keynes Conference: Keynes’s Economics and His Influences on Modern Economics,   14 Mar 2007   
Stagnation Dynamics and Japan's Long-run Stagnation
Seminar   27 Feb 2007   
Stagnation Dynamics and Japan's Long-run Stagnation
Seminar   22 Feb 2007   
Japan’s Long-Run Stagnation: Two Theoretical Views
The Sophia Symposium: Keynesian Legacy and Modern Economics ? A Dialogue between History of Economic Thought and Economic Theory,   25 Sep 2005   
Protective Trade Policies ‘Reduce’ Employment [Invited]
The Sophia Symposium: Keynesian Legacy and Modern Economics - Dialogue between History of Economic Thought and Economic Theory,   24 Sep 2005   
Financial Crisis and Recovery: Learning-Based Liquidity Preference Fluctuations
Summer Workshop in Macroeconomics, University of Auckland and New Zealand Treasury,   14 Feb 2005   
International Asymmetry in Business Activity and Appreciation of a Stagnant Country’s Currency
Jawaharlal Nehru University, Delhi, INDIA   15 Mar 2004   
Business Cycle and Liquidity Preference [Invited]
Mini Conference, Delhi School of Economics ,   11 Mar 2004   
Japan’s Long-Run Stagnation and Economic Policy [Invited]
Delhi School of Economics   10 Mar 2004   
Chair in Session 4: Poverty in Asia.
WIDER (World Institute for Development Economics Research) PROJECT CONFERENCE: Spatial Inequality In Asia   28 Mar 2003   
Export-Oriented Foreign Direct Investment and Local Content Requirement
Kobe Conference on Recent Developments in International Trade: Theoretical and Empirical Investigations   22 Mar 1998   
Foreign Direct Investment, Local Content Requirement, and Profit Taxation,
International Institute of Public Finance 53rd Congress,   Aug 1997   
Who’s Afraid of The General Theory?
TCER Conference on Monetary Economics   Jun 1996   
Fiscal Spending, International Economic Linkage, and Welfare
Conference on International Trade and Economic Growth   Jul 1994   
Trade, Growth, and Welfare.
Osaka University Semicentennial International Symposium   Nov 1992   
Tariffs, Quotas, and Inventory Adjustment.
Third Annual East Asian Seminar on Economics   Jun 1992   
The Money Rate of Interest and Keynesian Stagnation
Workshop in Financial Economics   Jul 1991   
International Welfare Effects of Savings Controls and Trade Restrictions
Summer Institute on Game Theory and Economics, Workshop on "Srategic and Dynamic Aspects of International Trade"   Jul 1991   
Wealth Effects and Permanent Inequality under Dynamic Optimization,
京都コンファレンス(京都)   Aug 1990   
Political Economy of Voluntary Export Restraint: Japanese Experience and the VER’s Global Role in the World Economy
The International Conference: Political Economy of Export-Restraint Arrangements   Jun 1989   
Foreign Penetration, New Entry and National Welfare under Oligopoly
The Third Japan - U.S. Symposium on "Micro-Foundations of Economics and Finance"   Apr 1989   
Foreign Penetration and National Welfare
Warwick Summer Workshop   Aug 1986   

Association Memberships


Social Contribution

Abenomics auf dem Prufstand
[Contribution]  Wochen Zeitung  (Switzerland, Nr.3,)  Jan 2014
Buy Tohoku products to support rebuilding effort
[Contribution]  asahi.com  30 Mar 2011
[Contribution]  Reuters  21 Jun 2010
[Contribution]  The Wall Street Journal  7 Jun 2010
[Contribution]  Bloomberg.com  16 Apr 2010
L'Aquila to answer questions of G-8 relevance
[Contribution]  The Japan Times  8 Jul 2009
Taking stock in the Dow: It’s a confidence thing
[Contribution]  The Nikkei Weekly  2 Jun 1997