Perspective

The project will seek to design more realistic macroeconomic theory and macroeconometric models that take into account globalization of the economy, structural changes, large-scale shocks such as financial crises and major disasters and the COVID-19 pandemic, and long-term economic downturns. It will develop methodology for delivering equilibria and estimating parameters in such models. The project will further develop econometric methods for estimating these models using big data, including survey data of inflation forecasts and high frequency data on asset prices. These will be applied to analysis of various macroeconomic issues; and based on the results, policy proposals will be made regarding desirable macroeconomic policies.

Project Leader
Etsuro Shioji
Specially Appointed Professor at Hitotsubashi Institute for Advanced Study, Hitotsubashi University

Project Members

Prof. Toshiaki Watanabe Graduate School of Social Data Science, Hitotsubashi University
Prof. Naohito Abe Institute of Economic Research, Hitotsubashi University
Prof. Takashi Kano Graduate School of Economics, Hitotsubashi University
Prof. Jouchi Nakajima Institute of Economic Research, Hitotsubashi University
Prof. Eiji Kurozumi Graduate School of Economics, Hitotsubashi University
Prof. Yohei Yamamoto Graduate School of Economics, Hitotsubashi University
Prof. Toshitaka Sekine Graduate School of Economics, Hitotsubashi University
Prof. Ryo Jinnai Institute of Economic Research, Hitotsubashi University
Associate Prof. Takeki Sunakawa Graduate School of Economics, Hitotsubashi University
Assistant Prof. Yuta Takahashi Institute of Economic Research, Hitotsubashi University
Assistant Prof. Naoki Takayama Institute of Economic Research, Hitotsubashi University
Assistant Prof. Kazuhiro Teramoto Graduate School of Economics, Hitotsubashi  University
Assistant Prof. Shunsuke Hori Graduate School of Economics, Hitotsubashi  University
Assistant Prof. (Specially Appointed) Masakazu Emoto Hitotsubashi Institute for Advanced Study, Hitotsubashi University
Assistant Prof. (Specially Appointed) Junichi Kikuchi Hitotsubashi Institute for Advanced Study, Hitotsubashi University
Assistant Prof.(Specially Appointed) Koki Fusejima Hitotsubashi Institute for Advanced Study, Hitotsubashi University
Assistant Prof. (Specially Appointed) Haitao Cheng Hitotsubashi Institute for Advanced Study, Hitotsubashi University
Assistant Prof. (Specially Appointed) Wenjiao Hu Hitotsubashi Institute for Advanced Study, Hitotsubashi University
University Prof. Kyoji Fukao Institute of Economic Research, Hitotsubashi University
Specially Appointed Prof. Jota Ishikawa Hitotsubashi Institute for Advanced Study, Hitotsubashi University

Research Collaborators

Prof. Mototsugu Shintani Graduate School of Economics, The University of Tokyo
Prof. Kyu Ho Kang Department of Economics, Korea University
Prof. Tatsuyoshi Okimoto Faculty of Economics, Keio University
Prof. Yunjong Eo Department of Economics, Korea University
Associate Prof. Hiroshi Morita School of Engineering,  Institute of Science Tokyo
Director/Senior Research Fellow Sungbae An Korea Institute for International Economic Policy

Goals and Expected Outcome in FY2024

In the academic year 2024-2025, our project will continue to investigate the impact of globalization and the development of the financial market, in order to develop more sophisticated macro-econometric models that incorporate financial aspects of the modern economy. We expect that our research outcomes will enable us to come up with effective proposals for future macroeconomic policies.

Research Outcome・Events・Papers

Refer to the Japanese page