Published Paper:

• “Universal Gravity” — Journal of Political Economy (2020), with Treb Allen and Costas Arkolakis

Working Papers:

• “Does Expected Inflation Matter? Evidence from Japanese Value-Added Tax Hikes” (2024), with Naoki Takayama
• “Global Technology Stagnation” (2024), with Naoki Takayama (submitted)
• “Hidden Stagflation” (2024), with Naoki Takayama
• “Anchoring Inflation Expectation” (2020), with Lawrence Christiano
• “Robustly Optimal Voting Rule” (2024), with Noriaki Kiguchi and Shinpei Noguchi
  (Revise and Resubmit at Journal of Economic Theory)
• “An Experiment on a Multi-Period Beauty Contest Game” (2025), with Nobuyuki Hanaki
  (Revise and Resubmitted, 2nd round, at Experimental Economics)

Works in Progress

• “Excess Returns of Integrated Government Balance Sheet”
• “The Corporate Saving Glut in Japan”
• “The Real Macroeconomics of Japanese Stagnation”
• “Downward Nominal Wage Rigidity: Theory and Evidence from Japanese Cotton Spinning Industry During WW1”
• “The Rise in Markup or the Slowdown of Technology Progress? Evidence from PC Market”

Other Publication

• “A Parsimonious Model for Zero Inflation at the Zero Lower Bound.” Economics Letters 02/2025, Volume 247, with Naoki Takayama
  The order of Figures 1 and 2 should be reversed. Refer to this working paper version for clarification. working paper