Research
Publications and Accepted Papers
- “A cautionary note on linear aggregation in macroeconomic models under the RINCE preferences,” 2022, Journal of Macroeconomics, Volume 72.
- “The Delphic Forward Guidance Puzzle in New Keynesian Models” with Ippei Fujiwara, 2022, Review of Economic Dynamics, Volume 46, Pages 280-301. Online Appendix, Replication codes, VOXEU article.
- “Fiscal forward guidance: A case for selective transparency,” with Ippei Fujiwara, 2020, the Journal of Monetary Economics, Volume 116, pages 236-248. Online Appendix
- “The Optimal Degree of Monetary-Discretion in a New Keynesian Model with Private Information,” with Richard Dennis and Ippei Fujiwara, 2018, Theoretical Economics, Volume 13, Number 3, pages 1319–1368. Online Appendix
- “Some Unpleasant Properties of Loglinearized Solutions When the Nominal Rate is Zero,” with Lena Mareen Boneva and R. Anton Braun, 2016, the Journal of Monetary Economics, Volume 84, pages 216–232. Online Appendix
- “A Polyhedral Approximation Approach to Concave Numerical Dynamic Programming,” with Kenichi Fukushima, 2013, Journal of Economic Dynamics and Control, Volume 37, Issue 11, pages 2322–2335.
- “Monetary Policy during Japan’s Lost Decade,” with R. Anton Braun, 2006, the Japanese Economic Review, Vol. 57. No. 2, pp.324-344.
Working Papers
- NEW DRAFT “Generational War on Inflation? Optimal Inflation Rates for the Young and the Old,” with Ippei Fujiwara and Shunsuke Hori, 2025, submitted.
- “A Fast and Convergent Hybrid of Value Function Iteration and the Endogenous Grid Method for Discrete-Time Income Fluctuation Problems”, 2025, replication files (zip), submitted.
- “Power of History-dependent Inflation Targeting Rule in a New Keynesian Model”
- “Commitment vs. Flexibility in New Keynesian Models”
- “Excess sensitivity to targeted fiscal interventions in HANK models with zero liquidity”, 2023.
- “Computing Dynamic Optimal Mechanisms When Hidden Types Are Markov,” with Kenichi Fukushima, 2011, Extension with hidden actions
- “On the Size of the Fiscal Multiplier When the Nominal Interest Rate is Zero,” with R. Anton Braun, 2010, Online Appendix.
