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 | Project Members
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Research Collaborators
Prof. Mototsugu Shintani | Graduate School of Economics, The University of Tokyo |
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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, Tokyo Institute of Technology |
Director/Senior Research Fellow Sungbae An | Korea Institute for International Economic Policy |
Recently Published Papers
Makoto Takahashi, Toshiaki Watanabe and Yasuhiro Omori, “Forecasting Daily Volatility of Stock Price Index Using Daily Returns and Realized Volatility”, Econometrics and Statistics (2021)