Newsletter No.13 (November 2017)

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2017 11 11 12

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http://www.price.e.u-tokyo.ac.jp/img/event/2017macro-con/2017macro-e-program.pdf

19 2017 11 11 12 2

8 (1) (2) (3)

(4) (5) (6) (7)

(8)

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Tsutomu Watanabe (University of Tokyo) “The Effects of Monetary Policy Shocks on Inequality in Japan” (with Masayuki Inui and Tomoaki Yamada)

Nao Sudo (Bank of Japan) Munechika Katayama (Waseda University)

1980 2008

2 2 DSGE

日本学術振興会・科学研究費補助金・基盤研究（S）

『長期デフレの解明』プロジェクト

UTokyo Price Project

Newsletter No.13 (November 2017)

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smooth local projection

2 Masaya Sakuragawa (Keio University)

“The Side Effects of Safe Asset Creation” (with Keshav Dogra) Sushant Acharya (FRB of New York) Tomoyuki Nakajima (University of Tokyo)

2

Newsletter No.13 (November 2017)

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2

“Changes in the Global Investor Base and the Stability of Portfolio Flows to Emerging Markets” (with Luis Brandao-Marques, Gaston Gelos, and Hiroko Oura)

Hibiki Ichiue (Bank of Japan) Toyoichiro Shirota (Hokkaido University)

EPFR Global

(VIX)

VIX

VIX2

1

VIX intensive margin

extensive margin

Newsletter No.13 (November 2017)

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3 Takayuki Tsuruga (Osaka University)

“Reallocation Effects of Monetary Policy” (with Koki Oikawa) Kozo Ueda (Waseda University) Yuichi Furukawa (Chukyo Universtiy)

“Frictional Labor Markets, Education Choices and Wage Inequality” (with Manuel Macera)

Hitoshi Tsujiyama (Goethe University Frankfurt) Naoki Takayama (Cabinet Office)

Newsletter No.13 (November 2017)

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2

4 Noriyuki Yanagawa (University of Tokyo)

“Asset Bubbles and Global Imbalances” (with Daisuke Ikeda) Toan Phan (FRB of Richmond) Takashi Kamihigashi (Kobe University)

2

2 (North) (South)

Newsletter No.13 (November 2017)

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2

5 Naohito Abe (Hitotsubashi University)

“Decomposing Local Fiscal Multipliers: Evidence from Japan” (with Taisuke Kameda and Ryoichi Namba)

Takayuki Tsuruga (Osaka University) Yasushi Iwamoto (University of Tokyo)

1.550.95 0.6

Newsletter No.13 (November 2017)

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“The Effects of Government Spending on Real Exchange Rates: Evidence from Military Spending Panel Data” (with Thuy Lan Nguyen and Viacheslav Sheremirov)

Wataru Miyamoto (Bank of Canada) Takashi Kano (Hitotsubashi University)

125

Backus-

Smith puzzle (1993, JIE)

Newsletter No.13 (November 2017)

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(orthogonal)