Private news and monetary policy vox, cepr policy portal. The zero lower bound and monetary policy in a global. Ippei fujiwara centre for climate and energy policy. Nov 30, 2019 fujiwara, ippei and yuki teranishi 2008. Economics letters, 20, 118, 3, 526530 view citations 12 global liquidity trap.
Central banks may well possess private information about future economic conditions. Private news and monetary policy forward guidance as bayesian persuasion, cama working papers 201991, centre for applied macroeconomic analysis, crawford school of public policy, the australian national university. Ippei fujiwara, naoko hara, naohisa hirakata, takeshi kimura, and shinichiro watanabe, 2007. His research centres on international finance, monetary economics and macroeconomics. I was immediately intrigued by the exciting research topics that he delivered in the classroom. N2 we examine how a central banks economic forecasts affect forecasts by professional forecasters and vice versa. A paper by shigeru fujita and ippei fujiwara examined how a decline in fertility thus, a decrease in people entering the workforce could affect inflation. Yoshihide soeya the dilemmas of middlepower diplomacy and more. The 14th joint economics symposium was held at the university of sydney, on 1617 january 2020. Ippei fujiwara national bureau of economic research. Output composition of the monetary policy transmission.
Topics covered include empirical features of inflation and output, the monetary transmission mechanism, miu and cia models of inflation, the cagan model of inflation, the. Concepts are explained with simple examples and in an easy, understandable language. Amazing book for anyone trying to develop an interest in economics starting from a zero, or just as a book the answers money related questions you have surely wondered about at some point. Prior to joining the university of glasgow, he has worked for the australian national university and for the federal reserve bank of san francisco. A simple analytical investigation scholars choice edition yuki teranishi, ippei fujiwara, international journal of central banking on. Mit press books and journals are known for their intellectual daring, scholarly standards, and distinctive design. A view of policymaking under uncertainty, imes discussion paper series 07e09, institute for monetary and economic studies, bank of japan. Find researchers and browse publications, fulltexts, contact details and general information related to the department of economics at keio university. Solutions to the exercises in my book, noncooperative game theory springer 2015, are available free of charge to instructors who use the book in their courses. Professor fujiwara worked for the bank of japan for 18 years before joining anu in 2011.
Wednesday 6 september canberra australiajapan research centre. Sep 27, 2012 for courses in managerial economics, this textbook, now in its third edition, is specifically designed for the students of management, commerce and economics to provide them with a thorough understanding of economic concepts and methodologies and the economic environment influencing managerial decisions. Is the central banks publication of economic forecasts. July 2014 abstract this paper explores a causal link between aging of the labor force and declining trends in the real interest rate and in. Rieti books english rieti books japanese history of japans trade and industry policy. Richard dennis gained his phd from the australian national university in 2001. Ippei fujiwara, faculty of economics, keio university, 2. He is also codirector of the australian national universitys australiajapan research centre. Global liquidity trap by ippei fujiwara, tomoyuki nakajima.
Huang, jiao wang, 2020, forthcoming in the journal of monetary economics monetary policy divergence and net capital flows. Sire discussion papers, scottish institute for research in economics sire 2015 utokyo price project working paper series, university of tokyo, graduate school of economics 2015 view citations 1 see also journal article in theoretical economics 2018 2016. Volume 174 pages 1218 january 2019 download full issue. Ippei fujiwara is professor of macroeconomics at the crawford school of public policy, fellow of the asian bureau of finance and economic research abfer, research associate at the globalization and monetary policy institute, federal reserve bank of dallas, japan director for australiajapan research centre ajrc, and the deputy director at the center for applied macroeconomic analysis cama. Keio university faculty of economics contributions. Ippei fujiwara faculty of economics keio university 21545, mita, minatoku tokyo 1088345 japan tel. Other macroeconomic implications of population ageing.
The centre for applied macroeconomic analysis cama is located in the crawford school of public policy at the australian national university and was established in 2003 to bring together economists working on applied macroeconomic and financial market issues throughout australia and across the globe. Using a standard new open economy macroeconomics noem model, an optimizing twocountry sticky price model, we show that the fiscal multiplier and spillover are contrary to those predicted in textbook economics. Ippei fujiwara emeritus professor of economics, crawford school of economics. Fujita and fujiwara hypothesized that a growing share of old workers who lose their jobs also lose skills that are very specific to the firms where they worked. Their combined citations are counted only for the first article. Aging and declining trends in the real interest rate and in. Unc international macroeconomics seminars are on thursdays at 3. It was my rst semester studying abroad at the australian national university as a graduate student and it was also his rst course to teach after joining anu.
Essays on dynamic macroeconomics and monetary policy. How should the world view japans new economic policy. Crawford school of public policy is a research intensive policy school within the anu college of asia and the pacific at the australian national university which focuses on australia and the asiapacific region. The school was named after sir john crawford, and its current director is professor helen sullivan the crawford school has disciplinary and interdisciplinary expertise in public. Ippei fujiwara is professor of macroeconomics at the crawford school of public policy, associate editor of japan and the world economy, research associate at the globalization and monetary policy. Initially, an increased share of older and, thus, moreexperienced workers led to increased output and inflation. Florin bilbiie professor of economics, university of lausanne and cepr verified email at unil.
The free library science and technology economics nber reporter september 1, 2018. Jain author see all formats and editions hide other formats and editions. Text books below are considered the standard textbooks for the modern central banking and useful to understand above topics. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. Bank of japan institute for monetary and economic studies. The fiscal multiplier and spillover in a global liquidity. National bureau of economic research in this paper we consider a twocountry new open economy macroeconomics model, and analyze the optimal monetary policy when countries cooperate in the face of a global liquidity trapi. Professor ippei fujiwara ippei fujiwara is professor of macroeconomics at the crawford school of public policy.
Keio university department of economics contributions. Ippei received his phd in economics, nuffield college, university of oxford. Optimal monetary policy with endogenous entry and product variety, with florin bilbiie and fabio ghironi, 2014, journal of monetary economics 64, 120. Also, he has contributed roughly 190 columns to domestic and international newspapers.
He has published more than 60 academic papers, book chapters, and books. While it is crucial for the central banks to communicate their policy action plans to the private sector, guidance that helps the private sector form more accurate forecasts of future shocks can be undesirable and. Economics as well as philosophy and japanese language and classical literature. Exchange rate t argeting, with scott davis and jiao wang, 2018, journal of money, credit and banking, 507, 6999. How should monetary policy cooperation be designed when more than one country is simultaneously facing zero lower bounds on nominal interest rates. This course examines key analytical, empirical and policy issues in monetary policy and central banking. Ippei fujiwara, keio university, and shunsuke hori, university of tokyo, aging and deflation. Gali, jordi, 2008, monetary policy, inflation, and the business cycle. This question is on the lips of many central bankers. We consider the fiscal multiplier and spillover in an environment in which two countries are caught simultaneously in a liquidity trap. Professor, keio university and australian national university. Ippei fujiwara is professor of economics, faculty of economics, keio university, and also crawford school of public policy, australian national university. The authors noted a study by economists shigeru fujita and ippei fujiwara, who looked at deflationary pressure in japan. Scott davis joined the federal reserve bank of dallas as a research economist in september 2010.
Leonard wantchekon professor of politics and international affairs, associated faculty, economics department, princeton verified email at princeton. There is a strong emphasis on theory supported by a range of applications, in particular to the asia pacific region. The zero lower bound and monetary policy in a global economy. Faculty of economics, keio university, and crawford school of public policy, australian national university. Hansen trygve haavelmo professor of economics phipps. Foundation, and the japan institute for energy economics ieej, among others. For other information contact simon alder and stan rabinovich. Does aging pose a challenge for monetary policy too. Comments by ippei fujiwara asian economic papers mit.
Research associate at the globalization and monetary policy institute, federal bank of dallas. Ippei fujiwara centre for applied macroeconomic analysis. Ippei fujiwara is a professor of macroeconomics at keio university and the australian national university anu. Sustainable international monetary policy cooperation by. Assuming symmetry, save for the volatility of markup shocks, we show that an incentive feasibility problem exists between the policymakers across national borders. Find researchers and browse publications, fulltexts, contact details and general information related to the faculty of economics at keio university. Monetary policy and central banking in the asia pacific anu. Finally, economists shigeru fujita and ippei fujiwara looked for a causal link between an aging of the workingage population and inflation. Aging and declining trends in the real interest rate and. Ippei fujiwara is professor of macroeconomics at the crawford school of public policy, fellow of the asian bureau of finance and economic research abfer, research associate at the globalization and monetary policy institute, federal reserve bank of dallas, japan director for australiajapan research centre ajrc, and the deputy director at the center for applied macroeconomic. Comment on why has japan failed to escape from deflation. The mit press is a leading publisher of books and journals at the intersection of science, technology, and the arts. Mototsugu shintani faculty of economics university of tokyo, iser osaka university. Ippei fujiwara, tomoyuki nakajima, nao sudo, yuki teranishi.
How should the world view japans new economic policy strategy. Japanese monetary policy during the collapse of the bubble economy. Ippei fujiwara and yuki teranishi ask an important question. His research is in the field of open economy macroeconomics, particularly the effect of trade and financial integration on the international transmission of businesscycle fluctuations. Economics, politics and public policy in east asia and the pacific vol. The australian national university college of asia and the pacific crawford school of public policy canberra act 0200, australia.
Economicsphilosophy occidental college, summa cum laude. Ippei fujiwara the missing piece in the puzzle of the lost decades aurelia george mulgan has the agriculture lobby captured the state. We provide new insight on international monetary policy cooperation using a twocountry model based on benigno and benigno 2006. Mototsugu shintanifaculty of economics university of tokyo, iser osaka university, imes bank of japanverified email at econ. He completed his dphil in economics at the university of oxford nuffield, and a phd in applied economics at osaka university. A view of policymaking under uncertainty, monetary and economic studies, institute for monetary and economic studies, bank of japan, vol. Jiao wang joined the melbourne institute of applied economic and social research as research fellow in october 2016. T1 is the central banks publication of economic forecasts influential. Economics of public finance paperback january 1, 1989 by p. Professor ippei fujiwara professor ippei fujiwara is professor of macroeconomics at the australian national university and at keio university. An introduction to the new keynesian framework, princeton university press. Her fields of research include monetary policy, macroprudential policy, macroeconomics and the chinese economy.
Ippei fujiwara crawford school of economics and government. Foreign exchange reserves as a tool for capital account management with ippei fujiwara, kevin x. Output composition of the monetary policy transmission mechanism in japan. Economics letters vol 174, pages 1218 january 2019.
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