Details about Akihisa Shibata

Homepage:	https://sites.google.com/view/akihisashibata
Workplace:	Osaka University of Economics, (more information at EDIRC)

Access statistics for papers by Akihisa Shibata.

Last updated 2025-03-23. Update your information in the RePEc Author Service.

Short-id: psh188

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Working Papers

2025

1. Relative Risk Aversion and Business Fluctuations
   Discussion Paper Series, School of Economics, Kwansei Gakuin University
   Also in KIER Working Papers, Kyoto University, Institute of Economic Research (2025)
   ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2025)

2024

2. Insurance against Aggregate Shocks
   ISER Discussion Paper, Institute of Social and Economic Research, Osaka University
   Also in KIER Working Papers, Kyoto University, Institute of Economic Research (2024)
   Discussion Paper Series, School of Economics, Kwansei Gakuin University (2024)
3. Search-for-Yield and Home Bias under Quantitative Easing
   KIER Working Papers, Kyoto University, Institute of Economic Research

2023

4. Controlling Chaotic Fluctuations through Monetary Policy
   KIER Working Papers, Kyoto University, Institute of Economic Research
   See also Journal Article Controlling Chaotic Fluctuations through Monetary Policy, Studies in Nonlinear Dynamics & Econometrics, De Gruyter (2025) (2025)
5. Free Trade Agreements with Environmental Provisions Between Asymmetric Countries: Transfer of Clean Technology and Enforcement
   Boston College Working Papers in Economics, Boston College Department of Economics
   See also Journal Article Free trade agreements with environmental provisions between asymmetric countries: transfer of clean technology and enforcement, Environmental Economics and Policy Studies, Springer (2024) (2024)
6. Technology Choice, Externalities in Production, and a Chaotic Middle-Income Trap
   KIER Working Papers, Kyoto University, Institute of Economic Research
   Also in KIER Working Papers, Kyoto University, Institute of Economic Research (2022)
   See also Journal Article Technology choice, externalities in production, and a chaotic middle-income trap, Journal of Economics, Springer (2024) (2024)

2021

7. Financial Destabilization
   Discussion Papers, Graduate School of Economics, Kobe University
   Also in Discussion Paper Series, School of Economics, Kwansei Gakuin University (2021)
   KIER Working Papers, Kyoto University, Institute of Economic Research (2021)
   See also Journal Article Financial destabilization, Journal of Mathematical Economics, Elsevier (2022) (2022)
8. Polarization and Permanent Fluctuations: Quasi-Periodic Motions in a Two-Class OLG Model (Revised version with a new title "Quasi-Periodic Motions in a Polarized Overlapping Generations Model with Technology Choice." KIER DP No.1070）
   KIER Working Papers, Kyoto University, Institute of Economic Research
9. Quasi-Periodic Motions in a Polarized Overlapping Generations Model with Technology Choice
   KIER Working Papers, Kyoto University, Institute of Economic Research View citations (1)

2020

10. Asset Bubbles, Unemployment, and Financial Market Frictions
    Discussion Paper Series, School of Economics, Kwansei Gakuin University View citations (3)
    Also in Discussion Papers, Graduate School of Economics, Kobe University (2020) View citations (3)
    KIER Working Papers, Kyoto University, Institute of Economic Research (2020) View citations (3)
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University (2020) View citations (3)
    See also Journal Article Asset bubbles, unemployment, and financial market frictions, Economic Inquiry, Western Economic Association International (2022) (2022)
11. Free Trade Agreements with Environmental Standards
    KIER Working Papers, Kyoto University, Institute of Economic Research View citations (1)
    Also in Boston College Working Papers in Economics, Boston College Department of Economics (2018) View citations (1)
12. Middle-Income Traps and Complexity in Economic Development
    KIER Working Papers, Kyoto University, Institute of Economic Research View citations (3)
    See also Journal Article Middle-income traps and complexity in economic development, Studies in Nonlinear Dynamics & Econometrics, De Gruyter (2023) (2023)

2018

13. Current Account Dynamics under Information Rigidity and Imperfect Capital Mobility
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University
    Also in CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2018)
    ESRI Discussion paper series, Economic and Social Research Institute (ESRI) (2018)
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas (2018)
    See also Journal Article Current account dynamics under information rigidity and imperfect capital mobility, Journal of International Money and Finance, Elsevier (2019) View citations (3) (2019)

2017

14. Asset Bubbles, Technology Choice, and Financial Crises
    Discussion Paper Series, School of Economics, Kwansei Gakuin University

2014

15. Overconfidence, Underconfidence, and Welfare
    KIER Working Papers, Kyoto University, Institute of Economic Research
    See also Journal Article Overconfidence, Underconfidence, and Welfare, Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen (2015) (2015)

2013

16. Taxing capital is a good idea: the role of idiosyncratic risk in an OLG model
    KIER Working Papers, Kyoto University, Institute of Economic Research View citations (2)
    See also Journal Article Taxing capital is a good idea: The role of idiosyncratic risk in an OLG model, Journal of Economic Dynamics and Control, Elsevier (2015) View citations (5) (2015)

2012

17. Asset bubbles, economic growth, and a self-fulfilling financial crisis: a dynamic general equilibrium model of infinitely lived heterogeneous agents
    MPRA Paper, University Library of Munich, Germany View citations (1)
18. Business Cycles and Financial Crises: A Model of Entrepreneurs and Financiers
    MPRA Paper, University Library of Munich, Germany
19. Financial Globalization and Animal Spirits
    MPRA Paper, University Library of Munich, Germany

2011

20. Asset Bubbles, Credit Market Imperfections, and Technology Choice
    KIER Working Papers, Kyoto University, Institute of Economic Research View citations (2)
    See also Journal Article Asset bubbles, credit market imperfections, and technology choice, Economics Letters, Elsevier (2012) View citations (11) (2012)
21. Collateral Constraints and Legal Protection of Lenders: A Macroeconomic Perspective
    MPRA Paper, University Library of Munich, Germany
22. Endogenous Growth and Fluctuations in an Overlapping Generations Economy with Credit Market Imperfections
    MPRA Paper, University Library of Munich, Germany View citations (8)
    See also Journal Article Endogenous Growth and Fluctuations in an Overlapping Generations Economy with Credit Market Imperfections, Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals (2011) View citations (7) (2011)
23. Finance and Inequality: How Does Globalization Change Their Relationship?
    MPRA Paper, University Library of Munich, Germany View citations (1)
    See also Journal Article FINANCE AND INEQUALITY: HOW DOES GLOBALIZATION CHANGE THEIR RELATIONSHIP?, Macroeconomic Dynamics, Cambridge University Press (2014) View citations (29) (2014)

2010

24. Risk and Uncertainty in Health Investment
    KIER Working Papers, Kyoto University, Institute of Economic Research
    See also Journal Article Risk and uncertainty in health investment, The European Journal of Health Economics, Springer (2011) View citations (10) (2011)

2009

25. Dynamic game model of endogenous growth with consumption externalities
    MPRA Paper, University Library of Munich, Germany View citations (2)
    Also in Keio/Kyoto Joint Global COE Discussion Paper Series, Keio/Kyoto Joint Global COE Program (2008)
    See also Journal Article Dynamic Game Model of Endogenous Growth with Consumption Externalities, Journal of Optimization Theory and Applications, Springer (2010) View citations (2) (2010)

2007

26. International and Intergenerational Aspects of Capital Income Taxation in an Endogenously Growing World Economy
    CIRJE F-Series, CIRJE, Faculty of Economics, University of Tokyo
    See also Journal Article International and Intergenerational Aspects of Capital Income Taxation in an Endogenously Growing World Economy, Review of International Economics, Wiley Blackwell (2008) View citations (7) (2008)

2006

27. Capital Income Taxation and Specialization Patterns: Investment Tax vs. Saving Tax
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University
    Also in KIER Working Papers, Kyoto University, Institute of Economic Research (2006)
28. The Role of Expectations in a Specialization-driven Growth Model with Endogenous Technology Choice
    KIER Working Papers, Kyoto University, Institute of Economic Research
    See also Journal Article THE ROLE OF EXPECTATIONS IN A SPECIALIZATION-DRIVEN GROWTH MODEL WITH ENDOGENOUS TECHNOLOGY CHOICE, Division of Labor & Transaction Costs (DLTC), World Scientific Publishing Co. Pte. Ltd. (2006) (2006)

2003

29. Budget Deficits and Economic Growth
    Discussion Paper, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University View citations (3)
    See also Journal Article Budget Deficits and Economic Growth, Public Finance = Finances publiques (1998) View citations (3) (1998)
30. Credit Constraints and the Current Account: A Test for the Japanese Economy
    KIER Working Papers, Kyoto University, Institute of Economic Research
    See also Journal Article Credit constraints and the current account: A test for the Japanese economy, Journal of International Money and Finance, Elsevier (2005) View citations (14) (2005)
31. Time Patience Does Not Lead to a Capital-intensive Nation
    KIER Working Papers, Kyoto University, Institute of Economic Research View citations (1)

1994

32. Capital Mobility in the World Economy: An Alternative Measure
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University View citations (1)

1991

33. Trade, Capital Accumulation, and Welfare
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University

1990

34. SPILL-OVER EFFECTS OF SUPPLY-SIDE CHANGES IN A TWO-COUNTRY ECONOMY WITH CAPITAL ACCUMULATION
    ISER Discussion Paper, Institute of Social and Economic Research, Osaka University View citations (4)
    See also Journal Article Spill-over effects of supply-side changes in a two-country economy with capital accumulation, Journal of International Economics, Elsevier (1992) View citations (18) (1992)

Journal Articles

2025

1. Controlling Chaotic Fluctuations through Monetary Policy
   Studies in Nonlinear Dynamics & Econometrics, 2025, 29, (1), 53-69
   See also Working Paper Controlling Chaotic Fluctuations through Monetary Policy, KIER Working Papers (2023) (2023)

2024

2. Editor's introduction to the special issue on ‘intergenerational linkages in Asia’
   Pacific Economic Review, 2024, 29, (5), 533-534
3. Free trade agreements with environmental provisions between asymmetric countries: transfer of clean technology and enforcement
   Environmental Economics and Policy Studies, 2024, 26, (1), 1-30
   See also Working Paper Free Trade Agreements with Environmental Provisions Between Asymmetric Countries: Transfer of Clean Technology and Enforcement, Boston College Working Papers in Economics (2023) (2023)
4. Technology choice, externalities in production, and a chaotic middle-income trap
   Journal of Economics, 2024, 141, (1), 29-56
   See also Working Paper Technology Choice, Externalities in Production, and a Chaotic Middle-Income Trap, KIER Working Papers (2023) (2023)

2023

5. Middle-income traps and complexity in economic development
   Studies in Nonlinear Dynamics & Econometrics, 2023, 27, (4), 553-565
   See also Working Paper Middle-Income Traps and Complexity in Economic Development, KIER Working Papers (2020) View citations (3) (2020)

2022

6. Asset bubbles, unemployment, and financial market frictions
   Economic Inquiry, 2022, 60, (4), 1806-1832
   See also Working Paper Asset Bubbles, Unemployment, and Financial Market Frictions, Discussion Paper Series (2020) View citations (3) (2020)
7. Financial destabilization
   Journal of Mathematical Economics, 2022, 103, (C)
   See also Working Paper Financial Destabilization, Discussion Papers (2021) (2021)

2021

8. On the Two Catching-Up Mechanisms in Asian Development
   Asian Development Review (ADR), 2021, 38, (02), 31-57 View citations (1)

2019

9. Current account dynamics under information rigidity and imperfect capital mobility
   Journal of International Money and Finance, 2019, 92, (C), 153-176 View citations (3)
   See also Working Paper Current Account Dynamics under Information Rigidity and Imperfect Capital Mobility, ISER Discussion Paper (2018) (2018)
10. Reexamination of the Serendipity Theorem from the Stability Viewpoint
    JODE - Journal of Demographic Economics, 2019, 85, (1), 43-70
    Also in Journal of Demographic Economics, 2019, 85, (1), 43-70 (2019)

2018

11. Specializations, financial constraints, and income distribution
    International Review of Economics & Finance, 2018, 56, (C), 3-14 View citations (1)

2017

12. A Simple Model of Contract Enforcement Institutions
    Pacific Economic Review, 2017, 22, (3), 410-434
13. ENTREPRENEURS, FINANCIERS, AND BOOM–BUST CYCLES
    Macroeconomic Dynamics, 2017, 21, (3), 785-816 View citations (4)
14. Unemployment, Nonstandard Employment, and Fertility: Insights From Japan’s “Lost 20 Years”
    Demography, 2017, 54, (6), 2301-2329 View citations (15)

2016

15. Asset bubbles, economic growth, and a self-fulfilling financial crisis
    Journal of Monetary Economics, 2016, 82, (C), 70-84 View citations (41)
16. COLLATERAL CONSTRAINTS AND THE CURRENT ACCOUNT: THEORY AND EVIDENCE
    Economic Inquiry, 2016, 54, (1), 633-651 View citations (4)
17. Corruption, Financial Development and Economic Growth: Theory and Evidence From an Instrumental Variable Approach With Human Genetic Diversity
    Economic Notes, 2016, 45, (3), 353-392 View citations (9)

2015

18. Announcement
    The Japanese Economic Review, 2015, 66, (1), 33-34
19. Overconfidence, Underconfidence, and Welfare
    Journal of Institutional and Theoretical Economics (JITE), 2015, 171, (2), 372-384
    See also Working Paper Overconfidence, Underconfidence, and Welfare, KIER Working Papers (2014) (2014)
20. Taxing capital is a good idea: The role of idiosyncratic risk in an OLG model
    Journal of Economic Dynamics and Control, 2015, 52, (C), 258-269 View citations (5)
    See also Working Paper Taxing capital is a good idea: the role of idiosyncratic risk in an OLG model, KIER Working Papers (2013) View citations (2) (2013)

2014

21. Corruption, capital account liberalization, and economic growth: Theory and evidence
    International Economics, 2014, (139), 80-108 View citations (24)
22. Credit Market Imperfections and Macroeconomic Instability
    Pacific Economic Review, 2014, 19, (5), 592-611 View citations (8)
23. FINANCE AND INEQUALITY: HOW DOES GLOBALIZATION CHANGE THEIR RELATIONSHIP?
    Macroeconomic Dynamics, 2014, 18, (5), 1091-1128 View citations (29)
    See also Working Paper Finance and Inequality: How Does Globalization Change Their Relationship?, MPRA Paper (2011) View citations (1) (2011)
24. Natural capital investment under knightian uncertainty
    Environment and Development Economics, 2014, 19, (5), 529-547 View citations (3)

2012

25. Asset bubbles, credit market imperfections, and technology choice
    Economics Letters, 2012, 116, (1), 52-55 View citations (11)
    See also Working Paper Asset Bubbles, Credit Market Imperfections, and Technology Choice, KIER Working Papers (2011) View citations (2) (2011)

2011

26. Endogenous Growth and Fluctuations in an Overlapping Generations Economy with Credit Market Imperfections
    Asia-Pacific Journal of Accounting & Economics, 2011, 18, (3), 333-357 View citations (7)
    See also Working Paper Endogenous Growth and Fluctuations in an Overlapping Generations Economy with Credit Market Imperfections, MPRA Paper (2011) View citations (8) (2011)
27. Optimal pricing and quality choice of a monopolist under Knightian uncertainty
    International Journal of Industrial Organization, 2011, 29, (6), 746-754 View citations (5)
28. Risk and uncertainty in health investment
    The European Journal of Health Economics, 2011, 12, (1), 79-85 View citations (10)
    See also Working Paper Risk and Uncertainty in Health Investment, KIER Working Papers (2010) (2010)

2010

29. Dynamic Game Model of Endogenous Growth with Consumption Externalities
    Journal of Optimization Theory and Applications, 2010, 145, (1), 93-107 View citations (2)
    See also Working Paper Dynamic game model of endogenous growth with consumption externalities, MPRA Paper (2009) View citations (2) (2009)
30. Time Patience and Specialization Patterns in the Presence of Asset Trade
    Journal of Money, Credit and Banking, 2010, 42, (1), 93-112 View citations (2)
    Also in Journal of Money, Credit and Banking, 2010, 42, (1), 93-112 (2010) View citations (8)

2008

31. International Asset Trade, Capital Income Taxation, and Specialization Patterns
    Journal of Public Economic Theory, 2008, 10, (5), 743-763 View citations (2)
32. International and Intergenerational Aspects of Capital Income Taxation in an Endogenously Growing World Economy
    Review of International Economics, 2008, 16, (2), 383-399 View citations (7)
    See also Working Paper International and Intergenerational Aspects of Capital Income Taxation in an Endogenously Growing World Economy, CIRJE F-Series (2007) (2007)

2006

33. Environmental transfers against global warming: a credit-based program
    International Journal of Global Environmental Issues, 2006, 6, (1), 47-72 View citations (2)
34. Long‐run Specialization*
    Review of International Economics, 2006, 14, (1), 1-15 View citations (12)
35. THE ROLE OF EXPECTATIONS IN A SPECIALIZATION-DRIVEN GROWTH MODEL WITH ENDOGENOUS TECHNOLOGY CHOICE
    Division of Labor & Transaction Costs (DLTC), 2006, 02, (01), 55-69
    See also Working Paper The Role of Expectations in a Specialization-driven Growth Model with Endogenous Technology Choice, KIER Working Papers (2006) (2006)

2005

36. Credit constraints and the current account: A test for the Japanese economy
    Journal of International Money and Finance, 2005, 24, (8), 1261-1277 View citations (14)
    See also Working Paper Credit Constraints and the Current Account: A Test for the Japanese Economy, KIER Working Papers (2003) (2003)
37. Endogenous growth cycles in an overlapping generations model with investment gestation lags
    Economic Theory, 2005, 25, (3), 751-762 View citations (10)
38. Fiscal Spending, Relative‐Price Dynamics, and Welfare in a World Economy*
    Review of International Economics, 2005, 13, (2), 216-236 View citations (14)

2002

39. Strategic Interactions in a Growth Model with Infrastructure Capital
    Metroeconomica, 2002, 53, (4), 434-460 View citations (8)

2001

40. Government spending, interest rates, and capital accumulation in a two-sector model
    Canadian Journal of Economics, 2001, 34, (4), 903-920 View citations (2)
    Also in Canadian Journal of Economics/Revue canadienne d'économique, 2001, 34, (4), 903-920 (2001)
41. Long gestation in an overlapping generations economy: endogenous cycles and indeterminacy of equilibria
    Journal of Mathematical Economics, 2001, 35, (1), 99-127 View citations (5)

2000

42. Growth Effects of Bubbles in an Endogenous Growth Model
    The Japanese Economic Review, 2000, 51, (2), 221-235 View citations (22)
43. Growth and Welfare Effects of Monetary Expansion in an Overlapping-generations Economy
    The Japanese Economic Review, 2000, 51, (3), 407-430 View citations (11)

1999

44. Foreign Tax Credit and the Current Account
    International Tax and Public Finance, 1999, 6, (2), 131-148 View citations (4)
45. Welfare effects of bubbles in an endogenous growth model
    Research in Economics, 1999, 53, (4), 381-403 View citations (13)

1998

46. Budget Deficits and Economic Growth
    Public Finance = Finances publiques, 1998, 53, (3-4), 331-54 View citations (3)
    See also Working Paper Budget Deficits and Economic Growth, Discussion Paper (2003) View citations (3) (2003)
47. Capital mobility in the world economy: an alternative test
    Journal of International Money and Finance, 1998, 17, (5), 741-756 View citations (54)
48. Keeping one step ahead of the Joneses: Status, the distribution of wealth, and long run growth
    Journal of Economic Behavior & Organization, 1998, 36, (1), 109-126 View citations (131)

1995

49. Fundamentals uncertainty, bubbles, and exchange rate dynamics
    Journal of International Economics, 1995, 38, (3-4), 199-222 View citations (15)

1994

50. A cointegration test of the optimal seigniorage model
    Economics Letters, 1994, 44, (4), 433-437 View citations (4)

1993

51. Subsidies on Investment and the Foreign Asset Holdings
    Economic Review, 1993, 44, (1), 23-31

1992

52. Fundamentals-dependent bubbles in stock prices
    Journal of Monetary Economics, 1992, 30, (1), 143-168 View citations (17)
53. Spill-over effects of supply-side changes in a two-country economy with capital accumulation
    Journal of International Economics, 1992, 33, (1-2), 127-146 View citations (18)
    See also Working Paper SPILL-OVER EFFECTS OF SUPPLY-SIDE CHANGES IN A TWO-COUNTRY ECONOMY WITH CAPITAL ACCUMULATION, ISER Discussion Paper (1990) View citations (4) (1990)

1991

54. Capital income taxation and the current account in a small open economy
    Journal of International Money and Finance, 1991, 10, (4), 480-496 View citations (11)