Details about Takushi Kurozumi

Access statistics for papers by Takushi Kurozumi.

Last updated 2024-09-13. Update your information in the RePEc Author Service.

Short-id: pku88

Working Papers

2025

1. Supply Shocks, Employment Gap, and Monetary Policy
   Bank of Japan Working Paper Series, Bank of Japan

2023

2. A Theory of Intrinsic Inflation Persistence
   Bank of Japan Working Paper Series, Bank of Japan View citations (1)
   Also in Research Working Paper, Federal Reserve Bank of Kansas City (2016) View citations (1)
   Working Papers, Federal Reserve Bank of Cleveland (2019) View citations (4)
   See also Journal Article A Theory of Intrinsic Inflation Persistence, Journal of Money, Credit and Banking, Blackwell Publishing (2023) (2023)
3. Heterogeneity and Wage Growth of Full-time Workers in Japan: An Empirical Analysis Using Micro Data
   Bank of Japan Working Paper Series, Bank of Japan View citations (1)
   See also Journal Article Heterogeneity and wage growth of full-time workers in Japan: An empirical analysis using micro data, Journal of the Japanese and International Economies, Elsevier (2024) (2024)
4. Online Appendix to "Inflation Gap Persistence, Indeterminacy, and Monetary Policy"
   Online Appendices, Review of Economic Dynamics
   See also Journal Article Inflation Gap Persistence, Indeterminacy, and Monetary Policy, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2023) (2023)

2022

5. A Comparison of Japanese and US New Keynesian Phillips Curves with Bayesian VAR-GMM
   Bank of Japan Working Paper Series, Bank of Japan View citations (1)
6. Sticky Information Versus Sticky Prices Revisited: A Bayesian VAR-GMM Approach
   Working Papers, Federal Reserve Bank of Cleveland View citations (1)

2021

7. Inflation Gap Persistence, Indeterminacy, and Monetary Policy
   Working Papers, Federal Reserve Bank of Cleveland View citations (2)
   See also Journal Article Inflation Gap Persistence, Indeterminacy, and Monetary Policy, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2023) (2023)
8. Macroeconomic Changes with Declining Trend Inflation: Complementarity with the Superstar Firm Hypothesis
   Bank of Japan Working Paper Series, Bank of Japan
   Also in Working Papers, Federal Reserve Bank of Cleveland (2020)
   See also Journal Article Macroeconomic changes with declining trend inflation: Complementarity with the superstar firm hypothesis, European Economic Review, Elsevier (2022) View citations (1) (2022)

2020

9. Labor Supply Shocks, Labor Force Entry, and Monetary Policy
   Working Papers, Federal Reserve Bank of Cleveland
10. Monetary Policy and Macroeconomic Stability Revisited
    Bank of Japan Working Paper Series, Bank of Japan View citations (19)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (2017) View citations (22)
    Working Papers, Federal Reserve Bank of Cleveland (2019) View citations (5)
    2018 Meeting Papers, Society for Economic Dynamics (2018) View citations (9)
    See also Journal Article Monetary Policy and Macroeconomic Stability Revisited, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2020) View citations (20) (2020)
11. Output-Inflation Trade-offs and the Optimal Inflation Rate
    Working Papers, Federal Reserve Bank of Cleveland View citations (6)
    See also Journal Article Output-inflation trade-offs and the optimal inflation rate, Journal of Economic Dynamics and Control, Elsevier (2024) View citations (1) (2024)

2019

12. Identifying News Shocks with Forecast Data
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas View citations (5)
    Also in CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2012) View citations (16)
    See also Journal Article IDENTIFYING NEWS SHOCKS WITH FORECAST DATA, Macroeconomic Dynamics, Cambridge University Press (2021) View citations (2) (2021)

2018

13. Slow Post-Financial Crisis Recovery and Monetary Policy
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas
    Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2014) View citations (23)
    UTokyo Price Project Working Paper Series, University of Tokyo, Graduate School of Economics (2014) View citations (23)
    Working Papers, Tokyo Center for Economic Research (2014) View citations (25)
    See also Journal Article Slow Post-financial Crisis Recovery and Monetary Policy, American Economic Journal: Macroeconomics, American Economic Association (2019) View citations (24) (2019)

2017

14. Trend Inflation and Evolving Inflation Dynamics: A Bayesian GMM Analysis of the Generalized New Keynesian Phillips Curve
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (4)
    See also Software Item Code and data files for "Trend Inflation and Evolving Inflation Dynamics:A Bayesian GMM Analysis", Computer Codes, Review of Economic Dynamics (2023) (2023)
    Journal Article Trend Inflation and Evolving Inflation Dynamics:A Bayesian GMM Analysis, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2023) View citations (1) (2023)

2015

15. Monetary Policy: Its Effects and Implementation: Summary of the 2015 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan
    See also Journal Article Monetary Policy: Its Effects and Implementation: Summary of the 2015 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan, Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan (2015) (2015)
16. Monetary policy, trend inflation, and the Great Moderation: an alternative interpretation: comment based on system estimation
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (5)
17. What Makes Post-Financial-Crisis Recoveries So Slow? An Investigation of Implications for Monetary Policy Conduct
    Bank of Japan Research Laboratory Series, Bank of Japan

2014

18. A pitfall of expectational stability analysis
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (2)

2013

19. Kinked demand curves, the natural rate hypothesis, and macroeconomic stability
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (9)
    See also Journal Article Kinked Demand Curves, the Natural Rate Hypothesis, and Macroeconomic Stability, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2016) View citations (21) (2016)
20. The International Finance Multiplier in Business Cycle Fluctuations
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan

2012

21. Firm-specific labor, trend inflation, and equilibrium stability
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (6)
    See also Journal Article TREND INFLATION AND EQUILIBRIUM STABILITY: FIRM-SPECIFIC VERSUS HOMOGENEOUS LABOR, Macroeconomic Dynamics, Cambridge University Press (2017) View citations (14) (2017)

2011

22. Changes in the Federal Reserve Communication Strategy: A Structural Investigation
    Bank of Japan Working Paper Series, Bank of Japan View citations (7)
    See also Journal Article Changes in the Federal Reserve Communication Strategy: A Structural Investigation, Journal of Money, Credit and Banking, Blackwell Publishing (2017) View citations (8) (2017)
23. Do investment-specific technological changes matter for business fluctuations? Evidence from Japan
    MPRA Paper, University Library of Munich, Germany View citations (6)
    Also in Bank of Japan Working Paper Series, Bank of Japan (2010) View citations (9)
    See also Journal Article DO INVESTMENT-SPECIFIC TECHNOLOGICAL CHANGES MATTER FOR BUSINESS FLUCTUATIONS? EVIDENCE FROM JAPAN, Pacific Economic Review, Wiley Blackwell (2012) View citations (30) (2012)
24. Inflation dynamics and labor market specifications: a Bayesian DSGE approach for Japan's economy
    MPRA Paper, University Library of Munich, Germany
    Also in Bank of Japan Working Paper Series, Bank of Japan (2008) View citations (12)
    See also Journal Article INFLATION DYNAMICS AND LABOR MARKET SPECIFICATIONS: A BAYESIAN DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM APPROACH FOR JAPAN'S ECONOMY, Economic Inquiry, Western Economic Association International (2013) View citations (16) (2013)

2010

25. Determinacy under inflation targeting interest rate policy in a sticky price model with investment (and labor bargaining)
    Research Working Paper, Federal Reserve Bank of Kansas City
    See also Journal Article Determinacy under Inflation Targeting Interest Rate Policy in a Sticky Price Model with Investment (and Labor Bargaining), Journal of Money, Credit and Banking, Blackwell Publishing (2011) (2011)
26. Labor market search, the Taylor principle, and indeterminacy
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (18)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (2008) View citations (9)
    See also Journal Article Labor market search, the Taylor principle, and indeterminacy, Journal of Monetary Economics, Elsevier (2010) View citations (18) (2010)
27. Learning about monetary policy rules when labor market search and matching frictions matter
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (1)
    See also Journal Article Learning about monetary policy rules when labor market search and matching frictions matter, Journal of Economic Dynamics and Control, Elsevier (2012) View citations (10) (2012)
28. Sources of Business Fluctuations: Financial or Technology Shocks?
    Bank of Japan Working Paper Series, Bank of Japan View citations (12)
    See also Journal Article Sources of Business Fluctuations: Financial or Technology Shocks?, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2014) View citations (38) (2014)

2008

29. Endogenous Nominal Rigidities and Monetary Policy
    Bank of Japan Working Paper Series, Bank of Japan View citations (2)
    See also Journal Article Endogenous nominal rigidities and monetary policy, Journal of Monetary Economics, Elsevier (2010) View citations (12) (2010)

2006

30. Determinacy and Expectational Stability of Equilibrium in a Monetary Sticky-Price Model with Taylor Rule
    Bank of Japan Working Paper Series, Bank of Japan View citations (40)
    See also Journal Article Determinacy and expectational stability of equilibrium in a monetary sticky-price model with Taylor rule, Journal of Monetary Economics, Elsevier (2006) View citations (43) (2006)
31. The New Estimates of Output Gap and Potential Growth Rate
    Bank of Japan Review Series, Bank of Japan View citations (29)

2003

32. Optimal monetary policy in a micro-founded model with parameter uncertainty
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (12)
    See also Journal Article Optimal monetary policy in a micro-founded model with parameter uncertainty, Journal of Economic Dynamics and Control, Elsevier (2007) View citations (33) (2007)

Journal Articles

2024

1. Heterogeneity and wage growth of full-time workers in Japan: An empirical analysis using micro data
   Journal of the Japanese and International Economies, 2024, 73, (C)
   See also Working Paper Heterogeneity and Wage Growth of Full-time Workers in Japan: An Empirical Analysis Using Micro Data, Bank of Japan Working Paper Series (2023) View citations (1) (2023)
2. Output-inflation trade-offs and the optimal inflation rate
   Journal of Economic Dynamics and Control, 2024, 164, (C) View citations (1)
   See also Working Paper Output-Inflation Trade-offs and the Optimal Inflation Rate, Working Papers (2020) View citations (6) (2020)

2023

3. A Theory of Intrinsic Inflation Persistence
   Journal of Money, Credit and Banking, 2023, 55, (8), 1961-2000
   See also Working Paper A Theory of Intrinsic Inflation Persistence, Bank of Japan Working Paper Series (2023) View citations (1) (2023)
4. Inflation Gap Persistence, Indeterminacy, and Monetary Policy
   Review of Economic Dynamics, 2023, 51, 867-887
   See also Software Item Code and data files for "Inflation Gap Persistence, Indeterminacy, and Monetary Policy", Computer Codes (2023) (2023)
   Working Paper Inflation Gap Persistence, Indeterminacy, and Monetary Policy, Working Papers (2021) View citations (2) (2021)
   Working Paper Online Appendix to "Inflation Gap Persistence, Indeterminacy, and Monetary Policy", Online Appendices (2023) (2023)
5. Trend Inflation and Evolving Inflation Dynamics:A Bayesian GMM Analysis
   Review of Economic Dynamics, 2023, 51, 506-520 View citations (1)
   See also Software Item Code and data files for "Trend Inflation and Evolving Inflation Dynamics:A Bayesian GMM Analysis", Computer Codes (2023) (2023)
   Working Paper Trend Inflation and Evolving Inflation Dynamics: A Bayesian GMM Analysis of the Generalized New Keynesian Phillips Curve, IMES Discussion Paper Series (2017) View citations (4) (2017)

2022

6. How Should Monetary Policy Respond to a Contraction in Labor Supply?
   Economic Commentary, 2022, 2022, (13), 5
7. Macroeconomic changes with declining trend inflation: Complementarity with the superstar firm hypothesis
   European Economic Review, 2022, 141, (C) View citations (1)
   See also Working Paper Macroeconomic Changes with Declining Trend Inflation: Complementarity with the Superstar Firm Hypothesis, Bank of Japan Working Paper Series (2021) (2021)

2021

8. IDENTIFYING NEWS SHOCKS WITH FORECAST DATA
   Macroeconomic Dynamics, 2021, 25, (6), 1442-1471 View citations (2)
   See also Working Paper Identifying News Shocks with Forecast Data, Globalization Institute Working Papers (2019) View citations (5) (2019)

2020

9. Monetary Policy and Macroeconomic Stability Revisited
   Review of Economic Dynamics, 2020, 37, 255-274 View citations (20)
   See also Working Paper Monetary Policy and Macroeconomic Stability Revisited, Bank of Japan Working Paper Series (2020) View citations (19) (2020)
   Software Item Code and data files for "Monetary Policy and Macroeconomic Stability Revisited", Computer Codes (2020) (2020)

2019

10. Slow Post-financial Crisis Recovery and Monetary Policy
    American Economic Journal: Macroeconomics, 2019, 11, (4), 82-112 View citations (24)
    See also Working Paper Slow Post-Financial Crisis Recovery and Monetary Policy, Globalization Institute Working Papers (2018) (2018)

2018

11. Why Has Inflation Persistence Declined?
    Macro Bulletin, 2018, 1-3 View citations (2)

2017

12. Changes in the Federal Reserve Communication Strategy: A Structural Investigation
    Journal of Money, Credit and Banking, 2017, 49, (1), 171-185 View citations (8)
    See also Working Paper Changes in the Federal Reserve Communication Strategy: A Structural Investigation, Bank of Japan Working Paper Series (2011) View citations (7) (2011)
13. TREND INFLATION AND EQUILIBRIUM STABILITY: FIRM-SPECIFIC VERSUS HOMOGENEOUS LABOR
    Macroeconomic Dynamics, 2017, 21, (4), 947-981 View citations (14)
    See also Working Paper Firm-specific labor, trend inflation, and equilibrium stability, Research Working Paper (2012) View citations (6) (2012)

2016

14. Endogenous Price Stickiness, Trend Inflation, and Macroeconomic Stability
    Journal of Money, Credit and Banking, 2016, 48, (6), 1267-1291 View citations (24)
15. Kinked Demand Curves, the Natural Rate Hypothesis, and Macroeconomic Stability
    Review of Economic Dynamics, 2016, 20, 240-257 View citations (21)
    See also Software Item Code and data files for "Kinked Demand Curves, the Natural Rate Hypothesis, and Macroeconomic Stability", Computer Codes (2015) (2015)
    Working Paper Kinked demand curves, the natural rate hypothesis, and macroeconomic stability, Research Working Paper (2013) View citations (9) (2013)
16. Monetary Policy and Asset Price Booms: A Step Towards a Synthesis
    International Finance, 2016, 19, (1), 23-41 View citations (1)

2015

17. Monetary Policy: Its Effects and Implementation: Summary of the 2015 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan
    Monetary and Economic Studies, 2015, 33, 1-24
    See also Working Paper Monetary Policy: Its Effects and Implementation: Summary of the 2015 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan, IMES Discussion Paper Series (2015) (2015)

2014

18. Sources of Business Fluctuations: Financial or Technology Shocks?
    Review of Economic Dynamics, 2014, 17, (2), 224-242 View citations (38)
    See also Working Paper Sources of Business Fluctuations: Financial or Technology Shocks?, Bank of Japan Working Paper Series (2010) View citations (12) (2010)
    Software Item Code and data files for "Sources of Business Fluctuations: Financial or Technology Shocks?", Computer Codes (2013) (2013)
19. Trend inflation, sticky prices, and expectational stability
    Journal of Economic Dynamics and Control, 2014, 42, (C), 175-187 View citations (17)
20. What caused Japan’s Great Stagnation in the 1990s? Evidence from an estimated DSGE model
    Journal of the Japanese and International Economies, 2014, 34, (C), 217-235 View citations (23)

2013

21. Financial Crises and the Global Financial System: Summary of the 2013 BOJ-IMES Conference Organized by the Institute for Monetary and Economic Studies of the Bank of Japan
    Monetary and Economic Studies, 2013, 31, 1-20
22. INFLATION DYNAMICS AND LABOR MARKET SPECIFICATIONS: A BAYESIAN DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM APPROACH FOR JAPAN'S ECONOMY
    Economic Inquiry, 2013, 51, (1), 273-287 View citations (16)
    See also Working Paper Inflation dynamics and labor market specifications: a Bayesian DSGE approach for Japan's economy, MPRA Paper (2011) (2011)

2012

23. DO INVESTMENT-SPECIFIC TECHNOLOGICAL CHANGES MATTER FOR BUSINESS FLUCTUATIONS? EVIDENCE FROM JAPAN
    Pacific Economic Review, 2012, 17, (2), 208-230 View citations (30)
    See also Working Paper Do investment-specific technological changes matter for business fluctuations? Evidence from Japan, MPRA Paper (2011) View citations (6) (2011)
24. Learning about monetary policy rules when labor market search and matching frictions matter
    Journal of Economic Dynamics and Control, 2012, 36, (4), 523-535 View citations (10)
    See also Working Paper Learning about monetary policy rules when labor market search and matching frictions matter, Research Working Paper (2010) View citations (1) (2010)
25. Sustainability, flexibility, and inflation targeting
    Economics Letters, 2012, 114, (1), 80-82 View citations (3)

2011

26. Determinacy under Inflation Targeting Interest Rate Policy in a Sticky Price Model with Investment (and Labor Bargaining)
    Journal of Money, Credit and Banking, 2011, 43, (5), 1019-1033
    Also in Journal of Money, Credit and Banking, 2011, 43, (5), 1019-1033 (2011) View citations (1)
    See also Working Paper Determinacy under inflation targeting interest rate policy in a sticky price model with investment (and labor bargaining), Research Working Paper (2010) (2010)

2010

27. Distortionary taxation and interest rate policy
    Journal of Macroeconomics, 2010, 32, (1), 476-491 View citations (6)
28. Endogenous nominal rigidities and monetary policy
    Journal of Monetary Economics, 2010, 57, (8), 1038-1048 View citations (12)
    See also Working Paper Endogenous Nominal Rigidities and Monetary Policy, Bank of Japan Working Paper Series (2008) View citations (2) (2008)
29. Labor market search, the Taylor principle, and indeterminacy
    Journal of Monetary Economics, 2010, 57, (7), 851-858 View citations (18)
    See also Working Paper Labor market search, the Taylor principle, and indeterminacy, Research Working Paper (2010) View citations (18) (2010)
30. OPTIMAL MONETARY POLICY UNDER PARAMETER UNCERTAINTY IN A SIMPLE MICROFOUNDED MODEL
    Macroeconomic Dynamics, 2010, 14, (2), 257-268 View citations (7)

2008

31. Investment, interest rate policy, and equilibrium stability
    Journal of Economic Dynamics and Control, 2008, 32, (5), 1489-1516 View citations (43)
32. Optimal sustainable monetary policy
    Journal of Monetary Economics, 2008, 55, (7), 1277-1289 View citations (50)

2007

33. Optimal monetary policy in a micro-founded model with parameter uncertainty
    Journal of Economic Dynamics and Control, 2007, 31, (2), 399-431 View citations (33)
    See also Working Paper Optimal monetary policy in a micro-founded model with parameter uncertainty, Finance and Economics Discussion Series (2003) View citations (12) (2003)

2006

34. Determinacy and expectational stability of equilibrium in a monetary sticky-price model with Taylor rule
    Journal of Monetary Economics, 2006, 53, (4), 827-846 View citations (43)
    See also Working Paper Determinacy and Expectational Stability of Equilibrium in a Monetary Sticky-Price Model with Taylor Rule, Bank of Japan Working Paper Series (2006) View citations (40) (2006)

2005

35. Determinacy, learnability, and discretionary policy
    Economics Letters, 2005, 87, (2), 181-185 View citations (4)

2004

36. Effectiveness of history-dependent monetary policy
    Journal of the Japanese and International Economies, 2004, 18, (3), 330-361 View citations (14)

Software Items

2023

1. Code and data files for "Inflation Gap Persistence, Indeterminacy, and Monetary Policy"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Inflation Gap Persistence, Indeterminacy, and Monetary Policy, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2023) (2023)
2. Code and data files for "Trend Inflation and Evolving Inflation Dynamics:A Bayesian GMM Analysis"
   Computer Codes, Review of Economic Dynamics
   See also Working Paper Trend Inflation and Evolving Inflation Dynamics: A Bayesian GMM Analysis of the Generalized New Keynesian Phillips Curve, IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2017) View citations (4) (2017)
   Journal Article Trend Inflation and Evolving Inflation Dynamics:A Bayesian GMM Analysis, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2023) View citations (1) (2023)

2020

3. Code and data files for "Monetary Policy and Macroeconomic Stability Revisited"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Monetary Policy and Macroeconomic Stability Revisited, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2020) View citations (20) (2020)

2015

4. Code and data files for "Kinked Demand Curves, the Natural Rate Hypothesis, and Macroeconomic Stability"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Kinked Demand Curves, the Natural Rate Hypothesis, and Macroeconomic Stability, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2016) View citations (21) (2016)

2013

5. Code and data files for "Sources of Business Fluctuations: Financial or Technology Shocks?"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Sources of Business Fluctuations: Financial or Technology Shocks?, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2014) View citations (38) (2014)