JAPAN AND THE WORLD ECONOMY 42 45-55 Jun 2017 [Refereed]
To investigate why female labor supply is lower than male labor supply in Japan, we extend the business cycle accounting approach of Chari et al. (2007, Econometrica, vol. 75, pp. 781-836). We first apply business cycle accounting with two labor t...
Using bank-level data in Asia, we examine the relationship between the effectiveness of monetary policy and the business diversification of banks. We find that bank diversification enhances the effect of monetary policy.
Journal of International Economic Studies 27 47-59 Mar 2013 [Refereed][Invited]
Several studies assert that multiple factors are responsible for the recent behavior of the business cycle in Japan. For example, Kobayashi and Inaba (2006, Japan and the World Economy 18,418–440) apply the business cycle accounting method propose...
Advances in Econometrics 28 39-79 Dec 2012 [Refereed]
We analyze fluctuations in inflation and the nominal exchange rate under optimal monetary policy with local currency pricing by developing twocountry DSGE local currency pricing and producer currency pricing models. We estimate our models using Ba...
China Economic Journal 2(3) 285-296 Mar 2010 [Refereed]
In China, the foreign capital share of banks was restricted to 25% until 2006. Does such a relatively low share of foreign capital have any impact on the banking sector? In this paper, we use panel data on 19 major banks during 1996-2004 to shed l...
In this paper, we apply business cycle accounting, introduced by Chari et al. (2007, Econometrica 75 (3), 781-836), to the Japanese economy in the period during 1901-1910, during which Japan experienced the outbreak of the Russo-Japanese War, 1904...
This paper estimates Japanese average marginal tax rates on factor incomes around the time of the Lehman Brothers collapse. For this purpose, the paper uses the 93SNA (2005 Standard) data and the methodology of Gunji and Miyazaki (2011). The findi...
Using measures of financial constraints on firms, we investigate whether financial constraints explain the firm size–wage effect. The results suggest that financial constraints reduce the effect of firm size on wages, but that the effect remains s...
The Housei University economic review 77(3) 59-84 Mar 2010
In this paper, we investigate the factors behind the deep recession and recovery in the U.S. and Japan. Extending the methodology of Hamilton (2009, NBER Working Paper 15002), we use a model based on VAR tomake a dynamic forecast of the effect on ...
