The impacts of monetary easing on inequality have been attracting increasing attention
recently. In this paper, we use the micro-level data on Japanese households to study the …

We estimate a medium-scale dynamic stochastic general equilibrium model of the Japanese
economy following Christiano et al.[Christiano, L., Eichenbaum, M., Evans, C., 2005 …

This paper studies a large-firm search-matching model with variable hours of work to
investigate how firms utilize the intensive and extensive margins of labor adjustment over …

We propose a quantitative model of monetary policy over the lifecycle with endogenous
portfolio choices. Our model reproduces the average age profiles of asset portfolios, the …

In this paper, we estimate average marginal tax rates on factor incomes in Japan from 1963
to 2007. We adapt the method of DH Joines [Estimates of effective marginal tax rates on …

This paper presents a two‐sector, two‐country model showing that inflation in the housing
market, a low personal savings rate, and a construction investment boom can contribute to a …

The share of non-regular employment has been increasing in many developed countries
during the past two decades. The objective of this paper is to study a cause of the upward …

Abstract Standard New Keynesian models have often neglected temporary sales. In this
study, we ask whether this treatment is appropriate. We use Japanese scanner data …

The search and matching model has recently come under criticism for its inability to account
for some of the cyclical properties of the US labor market. Shimer (2005) has shown that the …

Japan's so-called Lost Decade of the 1990s presents a unique case study of an economy
with a recent severe and prolonged recession, with large changes in the labor market and …