Education

Career

Publications

• “Fiscal Sustainability in Japan: What to Tackle?”, (with Sagiri Kitao and Tomoaki Yamada), The Journal of the Economics of Ageing , Volume 14, 2019.
• Replacing Income Taxation with Consumption Taxation in Japan”, (with Gary Hansen), Journal of the Japanese and International Economies , Volume 48, pp. 15-28, June 2018.
• “Can Guest Workers Solve Japan’s Fiscal Problems”, (with Sagiri Kitao and Tomoaki Yamada), Economic Inquiry, Volume 55, Issue 3, pp. 1287-1307, July 2017.
• “Fiscal Reform and Government Debt in Japan: A Neoclassical Perspective”, (with Gary Hansen), Review of Economic Dynamics, Volume 21, July, Pages 201-224, 2016.
• “Achieving Fiscal Balance in Japan”, (with Sagiri Kitao and Tomoaki Yamada), International Economic Review, Volume 57, Pages 117-154, 2016.
• “Agricultural Productivity and Growth in Turkey”, (with Ayse Imrohoroglu and Murat Üngör), Macroeconomic Dynamics, Volume 18, Issue 5, Pages 998-1017, 1-20, July 2014.
• Fiscal Cliff: How America Can Avoid a Fall and Stay on Top, (with Ayse Imrohoroglu), Ending Spending: May 2012.
• “Social Security Reforms: Benefit Claiming, Labor Force Participation and Long-run Sustainability”, (with Sagiri Kitao), American Economic Journal: Macroeconomics, Vol.4, No.3, July 2012.
• “Will a Growth Miracle Reduce Debt in Japan?”, (with Nao Sudo), The Economic Review (Keizai Kenkyuu), Vol.62, No,1, Institute of Economic Research, Hitotsubashi University, January 2011
• “Productivity and Fiscal Policy in Japan: Short Term Forecasts from the Standard Growth Model”, (with Nao Sudo), Monetary and Economic Studies, Vol.29, Institute for Monetary and Economic Studies, Bank of Japan, November 2011.
• “A Quantitative Assessment of the Decline in the U.S. Current Account”, (with Kaiji Chen and Ayse Imrohoroglu), Journal of Monetary Economics, Volume 56, Issue 8, November 2009, Pages 1135-1147.
• “Labor Supply Elasticity and Social Security Reform”, (with Sagiri Kitao), Journal of Public Economics, Volume 93, Issues 7-8, 867-878, August 2009.
• “Hours Volatility over the Life Cycle: The Role of On-the-Job Skill Accumulation”, (with Gary Hansen), Journal of Economic Theory, Volume 144, Issue 6, November 2009, Pages 2293-2309.
• “Hours Volatility over the Life Cycle: The Role of On-the-Job Skill Accumulation”, (with Gary Hansen), Journal of Economic Theory, Volume 144, Issue 6, November 2009, Pages 2293-2309.
• “Consumption and Hours Over the Life Cycle: The Role of Annuities”, (with Gary Hansen), Review of Economic Dynamics, Volume 11, No. 3, 2008, 566-583.
• “Social Security in the United States,” The New Palgrave Dictionary of Economics, 2nd Edition, edited by Steven N. Durlauf and Lawrence E. Blume, 2008, Palgrave Macmillan.
• “Personal Security Accounts and Mandatory Annuitization in a Dynastic Framework”, (with Luisa Fuster and Ayse Imrohoroglu), in Fenge, R., de Menil, G. and Pestieau, P. , eds., Strategies for Pension Reform, 2008, Cambridge: MIT Press.
• “Altruism, Incomplete Markets, and Tax Reform”, (with Luisa Fuster and Ayse Imrohoroglu), Journal of Monetary Economics, Vol. 55, No. 1, January 2008, 65-90.
• “The Japanese Saving Rate Between 1960-2000: Productivity, Policy Changes, and Demographics”, (with Kaiji Chen and Ayse Imrohoroglu), Economic Theory, Vol. 32, 2007, 87-104.
• “Elimination of Social Security in a Dynastic Framework”, (with Luisa Fuster and Ayse Imrohoroglu), Review of Economic Studies, Vol 74 (1), 2007, 113-145.
• “The Japanese Saving Rate”, (with Kaiji Chen and Ayse Imrohoroglu), American Economic Review, Vol. 96 (5), 2006, 1850-1858.
• “Does the Progressivity of Taxes Matter for Economic Growth?”, (with Betsy Caucutt and Krishna Kumar), Journal of Public Economic Theory, Vol 8 (1), 2006, 95–118.
• “Growth and Welfare Analysis of Tax Progressivity in a Heterogenous-Agent Model,” (with Betsy Caucutt and Krishna Kumar), Review of Economic Dynamics, Vol. 6, 2003, 546-577.
• “A Welfare Analysis of Social Security in a Dynastic Framework,” (with Luisa Fuster and Ayse Imrohoroglu), International Economic Review, Vol. 44, No. 4, November 2003, 1247-1274.
• “Time Inconsistent Preferences and Social Security,” (with Ayse Imrohoroglu and Douglas Joines), Quarterly Journal of Economics, Vol. 118, issue 2, May 2003, 745-784.
• “Saving and Pension Reform in General Equilibrium Models”, (with Mariacristina De Nardi and Thomas J. Sargent), Oxford Papers on Economic Policy, Vol. 17, No. 1, Spring 2001.
• “Computing Models of Social Security” (with Ayse Imrohoroglu and Douglas Joines), in R. Marimon and A. Scott eds., Computational Methods for the Study of Dynamic Economies, Oxford University Press, 1999. 221-237.
• “The Risk Sharing Implications of Alternative Social Security Arrangements: A Comment”, Carnegie-Rochester Conference Series on Public Policy, Vol. 50, (June) 1999, 261-269.
• “Social Security in an Overlapping Generations Model with Land” (with Ayse Imrohoroglu and Douglas Joines), Review of Economic Dynamics, Vol. 2, No. 3 (July) 1999, 638-665.
• “Projected U.S. Demographics and Social Security” (with Mariacristina De Nardi and Thomas J. Sargent), Review of Economic Dynamics, Vol. 2, No. 3 (July) 1999, 575-615.
• “The Effect of Tax-Favored Retirement Accounts on Capital Accumulation,” (with Ayse Imrohoroglu and Douglas Joines), American Economic Review, September 1998, Vol. 88(4), pp. 749-768.
• “A Quantitative Analysis of Capital Income Taxation,” International Economic Review, Vol. 39(2): May 1998, pp. 307-28.
• “Stock Returns and Volatility in Emerging Financial Markets,” (with Giorgio De Santis), 1997, Journal of International Money and Finance, Vol. 16: 561-579.
• “Two Computations to Fund Social Security,” (with He Huang and Thomas J. Sargent), 1997, Macroeconomic Dynamics, Vol. 1(1): 7-44.
• “International Currency Substitution and Seigniorage in a Simple Model of Money,” Economic Inquiry, 1996, Vol. XXXIV (July): 568–578.
• “A Markov Switching Model for the Hungarian Stabilization Plan of 1924,” Journal of Macroeconomics, 1995, 17(Spring): 347–355.
• “A Life Cycle Analysis of Social Security” (with Ayse Imrohoroglu and Douglas Joines), Economic Theory, 1995, 6: 83–114.
• “GMM Estimates of Currency Substitution between the Canadian Dollar and the U.S. Dollar,” Journal of Money, Credit, and Banking, 1994, 26(November): 792–807.
• “A Numerical Algorithm for Solving Models with Incomplete Markets” (with Ayse Imrohoroglu and Douglas Joines), International Journal of Supercomputer Applications, 1993, 7(Fall): 212–230.
• “Testing for Sunspot Equilibria in the German Hyperinflation,” Journal of Economic Dynamics and Control, 1993, 17(Jan./March): 289–317.