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Papers and Publications

Go to my Japanese Papers and Publications page.

Books

1. Asako, K., Studies on the Japanese Business Cycle, Economic Research Series 42, Institute of Economic Research at Hitotsubashi University, Maruzen Publishing Co., Ltd., February 2012, xiv+411 pages.

Articles and Notes
(**= refereed and accepted)
( * = invited and refined based on editorial comments)

**30. Tonogi, Konomi, Jun-ichi Nakamura, and K. Asako, “Heterogeneity of Capital Stocks in Japan: Classification by Factor Analysis,” Journal of Knowledge Management, Economics and Information Technology, Vol. 4, Issue 2, April 2014.
**29. Asako, K. and Zhentao Liu, “A Statistical Moddel of Speculative Bubbles, with Applications to the Stock Markets of the United States, Japan, and China,” Journal of Banking & Finance, Vol.37, Issue 7, July 2013, pp. 2639-2651.
*27. Asako, K. and Katsuaki Ochiai, “Macroeconomic Adjustment to the Lehman Shock in Japan,” Journal of East Asian Economic Integration, Vol.14 No.1 (June 2010): pp. 3-46.
*26. Asako, K. and Miho Takizawa, “Marginal Productivity Principle and Measurement Biases in TFP: Evidence from International Productivity Database,” Public Policy Review, Vol.6 No.2 (March 2010): pp. 261-286.
*25. Tonogi Konomi, Katsuaki Ochiai, and K. Asako, “Business Cycles in Japan and in Asian Countries: Tests of Comovements between CI and Trade Statistics,” Public Policy Review, Vol.6 No.2 (March 2010): pp. 237-260.
**24. Liu, Zhentao and K. Asako, “Transfiguration of the Foreign Exchange Market since the Euro Introduction,” Applied Financial Economics, Vol.19 Issue.22 (November 2009): pp. 1803-1812.
*23. Asako, K., Koichi Ando, and Kazuyuki Matsumoto, “Firms’ Perceptions of the Business Cycle and Their Managerial and Financial Conditions,” Public Policy Review, Vol.3 No.1 (December 2007): pp. 1-26.
*22. Asako, K., Hitoshi Suzuki, and Masao Tsuri, “Japan,” in Akira Kohsaka ed., Fiscal Deficits in the Pacific Region, Routledge Studies in the Modern World Economy，Routledge (2004): pp. 168-207.
*21. Asako, K. and Morio Kuninori, “On Vulnerability of International Cooperation to Slow Global Warming,” The Economic Review (Keizai Kenkyu), Vol.52 No.1 (January 2001): pp. 52-60.
**20. Shigeyuki Hamori and K. Asako, “Government Consumption and Fiscal Policy: Some Evidence from Japan,” Applied Economics Letters, Vol.6 No.9 (September 1999): pp. 551-555.
19. Asako, K., Mikio Murasaki, Naoya Tamada，and Chie Matsushita, “The Privatization Policies in Pakistan―Current Situation and Future Challenges,” OECF Research Papers No.19, (October 1997): 77 pages.
*18. Asako, K. and Satoru Kanoh, “Objectives of Japanese Monetary Policy― Estimation by the Time-Varying Logit Model,” The Economic Review (Keizai Kenkyu), Vol.48 No.4 (October 1997): pp. 351-367.
*17. Asako, K. and Yoshiyasu Ono, “Tariffs, Quotas, and Inventory Adjustment,” in Takatoshi Ito and Anne O. Krueger eds., Macroeconomic Linkage: Savings, Exchange Rates, and Capital Flows, NBER－East Asia Seminar on Economics 3, The University of Chicago Press (1994): pp. 273-289.
**16. Asako, K. and Helmut Wagner, “Nominal Income Targeting versus Money Supply Targeting,” Scottish Journal of Political Economy, Vol.39 No.2 (May 1992): pp. 167-187.
*15. Asako, K., Takatoshi Ito, and Kazunori Sakamoto, “The Rise and Fall of Deficit in Japan, 1965-1990,” Journal of the Japanese and International Economies, Vol.5 No.4 (December 1991): pp. 451-472.
*14. Asako, K., “The Land Price Bubble in Japan,” Ricerche Economiche, Vol.45 No.2-3 （April/September 1991): pp. 167-184.
13. Asako, K., “Optimal Programs of Economic Growth with Social Overhead Capital and Its Congestion,” Economia (Journal of the Economic Society of Yokohama National University), Vol.42 No.1 Series No.109 (June 1991): pp. 1-18.
**12. Asako, K., “Money Supply vs Nominal Income Targets under Money Supply and Multiplier Uncertainties,” The Economic Studies Quarterly, Vol.42 No.2 (June 1991): pp. 117-123.
11. Asako, K., “On the Demand for Risky Asset with Stochastic Speculative Bubbles,” Economia (Journal of the Economic Society of Yokohama National University), No.98 (September 1988): pp. 32-42.
10. Asako, K., “Money Supply Rules and Non-Superneutrality of Money,” Economia (Journal of the Economic Society of Yokohama National University), No.95 (December 1987): pp. 16-25.
*9. Asako, K. and Yuko Uchino, “Bank Loan Market of Japan―A New View on the Disequilibrium Analysis,” Bank of Japan Monetary and Economic Studies, Vol.5 No.1 (May 1987): pp. 169-216．
**8.  Asako, K., “On the Optimal Short-Run Money-Supply Management under the Monetarist Long-Run Money-Supply Rule,” The Economic Studies Quarterly, Vol.38 No.1 (March 1987): pp. 46-60.
*7. Asako, K., “Money Supply Uncertainty and Activist Stabilization Policy under Rational Expectations,” The Economic Review (Keizai Kenkyu), Vol.35 No.4 (October 1984): pp. 368-371.
6. Asako, K. and Ryuhei Wakasugi, “Government Capital, Income Distribution, and Optimal Taxation,” Economia (Journal of the Economic Society of Yokohama National University), No.80 (March 1984): pp. 36-51.
**5. Asako, K., “The Utility Function and the Superneutrality of Money on the Transition Path,” Econometrica, Vol.51 No.5 (September 1983): pp. 1593-1596.
**4. Asako, K., “Rational Expectations and the Effectiveness of Monetary Policy with Special Reference to the Barro-Fischer Model,” Journal of Monetary Economics, Vol.9 No.1 (January 1982): pp. 99-107.
**3. Asako, K., “Heterogeneity of Labor, the Phillips Curve, and Stagflation,” The Economic Studies Quarterly, Vol.32 No.2 (August 1981): pp. 117-134.
**2. Asako, K., “Economic Growth and Environmental Pollution under the Max-Min Principle,” Journal of Environmental Economics and Management, Vol.7 No.3 (September 1980): pp. 157-183.
**1. Asako, K., “Environmental Pollution in an Open Economy,” The Economic Record, Vol.55 No.151 (December 1979): pp. 359-367.

Miscellany

5. Asako, K., Hitoshi Suzuki, and Masao Tsuri, “Japan,” in Pacific Economic Outlook, Structure Project: Fiscal Policy Issues in the Pacific Region, Pacific Economic Cooperation Council (2001): pp. 42-43.
4. Asako, K., “Comments (on Kuroda and Nomura),” in Kunio Okina and Tetsuya Inoue eds., Monetary Policy in a World of Knowledge-Based Growth, Quality Change and Uncertain Measurement, Palgrave (2001): pp. 173-174.
3. Asako, K., “Inflation in China: A Cross Section Analysis,” Journal of Renmin University of China, Supplement (May 1997): pp. 26-27.
2. Asako, K., “Comment (on McCulloch),” in Takatoshi Ito and Anne O. Krueger eds., Macro-economic Linkage: Savings, Exchange Rates, and Capital Flows, NBER―East Asia Seminar on Economics 3, The University of Chicago Press (1994): p. 184.
1. Asako, K., Takatoshi Ito and, Michihiro Ohyama, “Editors' Introduction,” Special Conference Issue: Fiscal Policies in Open Macro Economies, Journal of the Japanese and International Economies, Vol.5 No.4 (December 1991): pp. 301-303.

Ph.D. Dissertation

An Essay on the Announcement Impact and the Role of Stabilization Policy, Ph.D. Dissertation submitted to Yale University (1979).

Others

1. Asako. K., “Message from the Director,” Institute of Economic Research Hitotsubashi University 2011, pp. 1-2.