Details about Takayuki Tsuruga

Access statistics for papers by Takayuki Tsuruga.

Last updated 2025-05-20. Update your information in the RePEc Author Service.

Short-id: pts33

Working Papers

2025

1. A Behavioral Explanation for the Puzzling Persistence of the Aggregate Real Exchange Rate
   ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka
   Also in CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2021)
   ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka (2021)
   NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (2)

2024

2. Should the Fiscal Authority Avoid Implementation Lag?
   ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka View citations (1)
   Also in CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2024) View citations (1)
   ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka (2022)
   See also Journal Article Should the Fiscal Authority Avoid Implementation Lag?, Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford (2024) (2024)

2023

3. Accounting for the slowdown in output growth after the Great Recession: A wealth preference approach
   ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka View citations (5)
   Also in ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka (2022)

2022

4. Sticky Wages in a World of Ideas
   ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka
   See also Journal Article Sticky wages in a world of ideas, Economic Inquiry, Western Economic Association International (2022) (2022)

2021

5. Sectoral inflation persistence, market concentration, and imperfect common knowledge
   ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka
   Also in ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka (2020) View citations (3)
   Working Papers, Tokyo Center for Economic Research (2021) View citations (4)
   See also Journal Article Sectoral inflation persistence, market concentration, and imperfect common knowledge, Journal of Economic Behavior & Organization, Elsevier (2021) View citations (4) (2021)

2020

6. Pecuniary Externalities, Bank Overleverage, and Macroeconomic Fragility
   ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka
   See also Journal Article Pecuniary externalities, bank overleverage, and macroeconomic fragility, International Journal of Economic Theory, The International Society for Economic Theory (2022) View citations (1) (2022)

2019

7. Decomposing Local Fiscal Multipliers: Evidence from Japan
   Working Papers, Tokyo Center for Economic Research
   Also in ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka (2019)
   See also Journal Article Decomposing local fiscal multipliers: Evidence from Japan, Japan and the World Economy, Elsevier (2021) View citations (11) (2021)
8. Money-Financed Fiscal Stimulus: The Effects of Implementation Lag
   CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (13)
   Also in ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka (2018)
   See also Journal Article Money-financed fiscal stimulus: The effects of implementation lag, Journal of Economic Dynamics and Control, Elsevier (2019) View citations (13) (2019)
9. Sticky-Wage Models and Knowledge Capital
   ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka View citations (1)

2018

10. Current Account Dynamics under Information Rigidity and Imperfect Capital Mobility
    ISER Discussion Paper, Institute of Social and Economic Research, The University of Osaka
    Also in ESRI Discussion paper series, Economic and Social Research Institute (ESRI) (2018)
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas (2018)
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (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

11. Effects of commodity price shocks on inflation: A cross-country analysis
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (2)
    Also in ESRI Discussion paper series, Economic and Social Research Institute (ESRI) (2016) View citations (3)
    Discussion papers, Graduate School of Economics Project Center, Kyoto University (2014) View citations (7)
    See also Journal Article Effects of commodity price shocks on inflation: a cross-country analysis, Oxford Economic Papers, Oxford University Press (2018) View citations (22) (2018)
12. Sticky-Wage Models and Knowledge Capital: A Note
    Vanderbilt University Department of Economics Working Papers, Vanderbilt University Department of Economics View citations (2)

2014

13. Noisy information, distance and law of one price dynamics across US cities
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas View citations (8)
    Also in Discussion papers, Graduate School of Economics Project Center, Kyoto University (2012) View citations (6)
    NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (6)
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2014)
    See also Journal Article Noisy information, distance and law of one price dynamics across US cities, Journal of Monetary Economics, Elsevier (2015) View citations (26) (2015)
14. Prudential Capital Controls or Bailouts? The Impact of Different Collateral Constraint Assumptions
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (1)
    See also Journal Article Prudential capital controls or bailouts? The impact of different collateral constraint assumptions, Economic Theory, Springer (2017) View citations (3) (2017)
15. The Safer, the Riskier: A Model of Financial Instability and Bank Leverage
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University
    See also Journal Article The safer, the riskier: A model of financial instability and bank leverage, Economic Modelling, Elsevier (2016) View citations (6) (2016)

2013

16. Bank Overleverage and Macroeconomic Fragility
    Discussion papers, Graduate School of Economics Project Center, Kyoto University View citations (1)
    Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2011) View citations (4)
17. Managing Financial Crises: Lean or Clean?
    2013 Meeting Papers, Society for Economic Dynamics View citations (2)
    Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2012) View citations (2)
18. Prudential Capital Controls: The Impact of Different Collateral Constraint Assumptions
    Discussion papers, Graduate School of Economics Project Center, Kyoto University

2011

19. Do Sticky Prices Increase Real Exchange Rate Volatility at the Sector Level?
    2011 Meeting Papers, Society for Economic Dynamics View citations (1)
    Also in Vanderbilt University Department of Economics Working Papers, Vanderbilt University Department of Economics (2010)
    NBER Working Papers, National Bureau of Economic Research, Inc (2010)
    Discussion papers, Graduate School of Economics Project Center, Kyoto University (2010)
    See also Journal Article Do sticky prices increase real exchange rate volatility at the sector level?, European Economic Review, Elsevier (2013) View citations (8) (2013)
20. The Safer, the Riskier:A Model of Bank Leverage and Financial Instability
    Discussion papers, Graduate School of Economics Project Center, Kyoto University View citations (2)

2010

21. How Well Do the Sticky Price Models Explain the Disaggregated Price Responses to Aggregate Technology and Monetary Policy Shocks?
    Discussion papers, Graduate School of Economics Project Center, Kyoto University View citations (5)
    Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2010) View citations (5)

2009

22. The Law of One Price Without the Border: The Role of Distance Versus Sticky Prices
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    See also Journal Article The Law of One Price without the Border: The Role of Distance versus Sticky Prices, Economic Journal, Royal Economic Society (2010) View citations (59) (2010)

2008

23. Accounting for Persistence and Volatility of Good-Level Real Exchange Rates: The Role of Sticky Information
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
    Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2008) View citations (9)
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas (2008) View citations (9)
    Vanderbilt University Department of Economics Working Papers, Vanderbilt University Department of Economics (2008) View citations (9)
    See also Journal Article Accounting for persistence and volatility of good-level real exchange rates: The role of sticky information, Journal of International Economics, Elsevier (2010) View citations (35) (2010)

2004

24. Hump-shaped Behavior of Inflation and Dynamic Externality
    Econometric Society 2004 Far Eastern Meetings, Econometric Society View citations (1)
    See also Journal Article The hump-shaped behavior of inflation and a dynamic externality, European Economic Review, Elsevier (2007) View citations (2) (2007)

Journal Articles

2024

1. Should the Fiscal Authority Avoid Implementation Lag?
   Oxford Bulletin of Economics and Statistics, 2024, 86, (4), 856-870
   See also Working Paper Should the Fiscal Authority Avoid Implementation Lag?, ISER Discussion Paper (2024) View citations (1) (2024)

2022

2. Pecuniary externalities, bank overleverage, and macroeconomic fragility
   International Journal of Economic Theory, 2022, 18, (4), 554-577 View citations (1)
   See also Working Paper Pecuniary Externalities, Bank Overleverage, and Macroeconomic Fragility, ISER Discussion Paper (2020) (2020)
3. Sticky wages in a world of ideas
   Economic Inquiry, 2022, 60, (4), 1757-1781
   See also Working Paper Sticky Wages in a World of Ideas, ISER Discussion Paper (2022) (2022)

2021

4. Decomposing local fiscal multipliers: Evidence from Japan
   Japan and the World Economy, 2021, 57, (C) View citations (11)
   See also Working Paper Decomposing Local Fiscal Multipliers: Evidence from Japan, Working Papers (2019) (2019)
5. Sectoral inflation persistence, market concentration, and imperfect common knowledge
   Journal of Economic Behavior & Organization, 2021, 192, (C), 500-517 View citations (4)
   See also Working Paper Sectoral inflation persistence, market concentration, and imperfect common knowledge, ISER Discussion Paper (2021) (2021)

2019

6. 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)
7. Money-financed fiscal stimulus: The effects of implementation lag
   Journal of Economic Dynamics and Control, 2019, 104, (C), 132-151 View citations (13)
   See also Working Paper Money-Financed Fiscal Stimulus: The Effects of Implementation Lag, CAMA Working Papers (2019) View citations (13) (2019)

2018

8. Effects of commodity price shocks on inflation: a cross-country analysis
   Oxford Economic Papers, 2018, 70, (4), 1108-1135 View citations (22)
   See also Working Paper Effects of commodity price shocks on inflation: A cross-country analysis, CAMA Working Papers (2017) View citations (2) (2017)

2017

9. Prudential capital controls or bailouts? The impact of different collateral constraint assumptions
   Economic Theory, 2017, 63, (4), 943-960 View citations (3)
   See also Working Paper Prudential Capital Controls or Bailouts? The Impact of Different Collateral Constraint Assumptions, CAMA Working Papers (2014) View citations (1) (2014)

2016

10. The safer, the riskier: A model of financial instability and bank leverage
    Economic Modelling, 2016, 52, (PA), 71-77 View citations (6)
    See also Working Paper The Safer, the Riskier: A Model of Financial Instability and Bank Leverage, CAMA Working Papers (2014) (2014)

2015

11. Noisy information, distance and law of one price dynamics across US cities
    Journal of Monetary Economics, 2015, 74, (C), 52-66 View citations (26)
    See also Working Paper Noisy information, distance and law of one price dynamics across US cities, Globalization Institute Working Papers (2014) View citations (8) (2014)

2014

12. Real exchange rate dynamics in sticky wage models
    Economics Letters, 2014, 123, (2), 160-163 View citations (3)

2013

13. Do sticky prices increase real exchange rate volatility at the sector level?
    European Economic Review, 2013, 62, (C), 58-72 View citations (8)
    See also Working Paper Do Sticky Prices Increase Real Exchange Rate Volatility at the Sector Level?, 2011 Meeting Papers (2011) View citations (1) (2011)

2010

14. Accounting for persistence and volatility of good-level real exchange rates: The role of sticky information
    Journal of International Economics, 2010, 81, (1), 48-60 View citations (35)
    See also Working Paper Accounting for Persistence and Volatility of Good-Level Real Exchange Rates: The Role of Sticky Information, NBER Working Papers (2008) View citations (10) (2008)
15. Integrating Sticky Prices and Sticky Information
    The Review of Economics and Statistics, 2010, 92, (3), 657-669 View citations (53)
16. The Law of One Price without the Border: The Role of Distance versus Sticky Prices
    Economic Journal, 2010, 120, (544), 462-480 View citations (59)
    See also Working Paper The Law of One Price Without the Border: The Role of Distance Versus Sticky Prices, NBER Working Papers (2009) View citations (5) (2009)

2007

17. The hump-shaped behavior of inflation and a dynamic externality
    European Economic Review, 2007, 51, (5), 1107-1125 View citations (2)
    See also Working Paper Hump-shaped Behavior of Inflation and Dynamic Externality, Econometric Society 2004 Far Eastern Meetings (2004) View citations (1) (2004)

Software Items

2002

1. Matlab code for a sticky wage/price model
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles