Fellow Researchers Profile

R. Anton Braun

R. Anton Braun

International Senior Fellow

Professor of National Graduate Institute for Policy Studies


  • Macroeconomics, Fiscal Policy, Aging, Monetary Policy



1989 Carnegie‑Mellon University, Graduate School of Industrial Administration, Ph.D., Economics
1987 Carnegie‑Mellon University, Graduate School of Industrial Administration, M.S., Economics
1983 Indiana University at South Bend, B.S., Economics


2010 - 2024 Research Economist and Senior Advisor, Federal Reserve Bank of Atlanta, Atlanta, Georgia
2017 - 2019 Visiting Professor, Keio University
2006 - 2010 Professor, The University of Tokyo, Tokyo Japan
2008 - 2009 Visiting Professor, CREA Universitat Pompeu Fabra, Barcelona Spain
2001 - 2006 Associate Professor, The University of Tokyo, Tokyo Japan
1998 - 2000 Associate Professor, International University of Japan, Niigata Japan
1996 - 1997 Visiting Professor, Universidad Carlos III, Madrid Spain
1996 - 1997 Visiting Professor, Banco España, C.E.M.F.I, Madrid Spain
1992 - 1997 Senior Economist, Federal Reserve Bank of Minneapolis, Minneapolis, Minnesota
1989 - 1994 Assistant Professor, University of Virginia, Charlottesville, Virginia


  • “Why Prices Don’t Respond Sooner to a Prospective Sovereign Debt Crisis?”with Tomoyuki Nakajima. Review of Economic Dynamics 29 July 2018.
  • “Old, Sick, Alone and Poor: A Welfare Analysis of Old-Age Social Insurance Programs,”with Karen Kopecky and Tatyana Koreshkova, Review of Economic Studies 84 April 2017.
  • “Some Unpleasant Properties of Log-Linearized Solutions When the Nominal Interest Rate is Zero,” with Lena Boneva and Yuichiro Waki, Journal of Monetary Economics 84 December 2016.
  • “Implications of a Graying Japan for Government Policy,” with Douglas Joines, Journal of Economic Dynamics and Control 57 August 2015.
  • “Generalized Look-Ahead Methods for Computing Stationary Densities” With Huiyu Li and John Stachurski, Forthcoming Mathematics of Operations Research 37(3) August, 2012.
  • “Uninsured Countercyclical Risk: An Aggregation Result and Application to Optimal Monetary Policy,” with Tomoyuki Nakajima, Journal of the European Economic Association, Volume 10, Issue 6, 1 December 2012, Pages 1450–1474.
  • “New Keynesian Dynamics in a Low Interest Rate Environment,” with Lena Körber, Journal of Economic Dynamics and Control 35 (12) December 2011.
  • “The Saving Rate in Japan: Why it Has Fallen and Why it Will Remain Low” with Douglas H. Joines and Daisuke Ikeda, International Economic Review 50 (1) February 2009."
  • “Investment Specific Technological Changes in Japan.” With Etsuro Shioji, Seoul Journal of Economics, 20(1) Spring 2007.