NISHIYAMA Shin-Ichi

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NISHIYAMA Shin-Ichi Professor

E-mail

Office hours

Tuesday 12:10-13:10

URL

http://nishiyama2001jp.com

Research Interest

My specializations are in Macroeconomics (especially in DSGE models), Money and Banking, and Monetary Policy. My current research agenda is threefolds: 1) embedding firm and bank's balance sheets in a New Keynesian DSGE framework, 2) characterizing the optimal monetary policy reaction function when the nominal interest rates are bounded at zero, and 3) empirical analysis of disaster recovery and debt over-hang problems in Tohoku area using firm survey data.

Lectures and Seminars

Lectures (Graduate/ Postgraduate)
This course is about graduate-level Monetary Economics. The level of this course is set comparable to those taught at 2nd year graduate courses in the U.S. economics graduate schools. Monetary Economics can be thought to be an extended field of Macroeconomics, which emphasizes the importance of nominal rigidities in the economy as opposed to real rigidities. We will be using Carl Walsh "Monetary Theory and Policy, 3rd ed." (MIT Press, 2011) as the textbook.

Seminars (Graduate/Postgraduate)
The main objective of this seminar is to prepare the student for the master’s level research and project. In this seminar, the student will extensively read the leading articles in the field of monetary economics. The topics in monetary economics may include monetary policy, financial friction in dynamic stochastic general equilibrium models, behavior of the banking sector, etc. The student will choose their own topic of interest, construct the reading list for the semester, and will be regularly reporting the contents of the articles. Note, however, that this seminar is not intended for the students who are interested in finance or corporate finance.

Main Publications
    Consumption, Housing Collateral, and the Canadian Business Cycle" (with Ian Christensen, Paul Corrigan, and Caterina Mendicino), Canadian Journal of Economics, vol.49, p.207-236, 2016.

    "The Determinants of Bank Profitability: Dynamic Panel Evidence from South Asian Countries" (with M.S. Islam), Journal of Applied Finance and Banking, vol.6, p.77-97, 2016.

    “Estimating a DSGE Model for Japan in a Data-Rich Environment” (with H. Iiboshi, T. Matsumae, and R. Namba), Journal of the Japanese and International Economies, vol.36, p.25-55, 2015.

    "The Cross-Euler Equation Approach to Intertemporal Substitution in Import Demand", Journal of Applied Econometrics, vol.20, p.841-872, 2005.

    "Optimal Monetary Policy When Interest Rates are Bounded at Zero" (with Ryo Kato), Journal of Economic Dynamics and Control, vol.29, p.97-133, 2005.

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