About my research
Financial markets play vital roles in many economic activities. For example, the financial markets play a key role in raising funds for companies,households’ saving and portfolio choice, or providing insurance against various risks. I have studied the functioning of the financial markets from the macroeconomic viewpoint. Specifically, I have analyzed how financial market development affects the income distribution and the economic stability of a country. In addition, in the process of economic development, previously used technologies are often replaced by other technologies. By constructing macroeconomic models that take into account the endogenous switching mechanisms of technologies, I also have analyze how such technology switches affect the pattern of economic development.
Selected publications
Konishi, Hideo, Minoru Nakada, and Akihisa Shibata, “Free Trade Agreements with Environmental Provisions Between Asymmetric Countries: Transfer of Clean Technology and Enforcement,” Environmental Economics and Policy Studies, forthcoming.
Asano, Takao, Akihisa Shibata, and Masanori Yokoo. “Middle-income traps and complexity in economic development,” Studies in Nonlinear Dynamics and Econometrics, forthcoming.
Hashimoto, Ken-ichi, Ryonghun Im, Takuma Kunieda, and Akihisa Shibata. “Financial Destabilization.” Journal of Mathematical Economics 103, December 2022, 102722.
Hashimoto, Ken-ichi, Ryonghun Im, Takuma Kunieda, and Akihisa Shibata. “Asset bubbles, unemployment, and financial market frictions.” Economic Inquiry 60 (4), October 2022, 1806-1832.
Asano, Takao, Akihisa Shibata, and Masanori Yokoo. “Quasi-periodic motions in a two-class economy with technology choice: An extreme case,” Nonlinear Dynamics 110, September 2022, 945-961.
Shibata, Akihisa, Mototsugu Shintani, and Takayuki Tsuruga. “Current account dynamics under information rigidity and imperfect capital mobility.” Journal of International Money and Finance 92 (2019): 153-176.
Raymo, James M., and Akihisa Shibata. “Unemployment, nonstandard employment, and fertility: Insights from Japan’s “lost 20 years”.” Demography 54.6 (2017): 2301-2329.
Kunieda, Takuma, and Akihisa Shibata. “Entrepreneurs, financiers, and boom-bust cycles.” Macroeconomic Dynamics 21.3 (2017): 785-816.
Kunieda, Takuma, and Akihisa Shibata. “Asset bubbles, economic growth, and a self-fulfilling financial crisis.” Journal of Monetary Economics 82 (2016): 70-84.
Kunieda, Takuma, Keisuke Okada, and Akihisa Shibata. “Collateral constraints and the current account: theory and evidence.” Economic Inquiry 54.1 (2016): 633-651.
Hiraguchi, Ryoji, and Akihisa Shibata. “Taxing capital is a good idea: The role of idiosyncratic risk in an OLG model.” Journal of Economic Dynamics and Control 52 (2015): 258-269.
Kunieda, Takuma, Keisuke Okada, and Akihisa Shibata. “Finance and inequality: How does globalization change their relationship?” Macroeconomic Dynamics 18.5 (2014): 1091-1128.
Asano, Takao, Takuma Kunieda, and Akihisa Shibata. “Complex behaviour in a piecewise linear dynamic macroeconomic model with endogenous discontinuity.” Journal of Difference Equations and Applications 18.11 (2012): 1889-1898.
Ono, Yoshiyasu, and Akihisa Shibata. “Time patience and specialization patterns in the presence of asset trade.” Journal of Money, Credit and Banking 42.1 (2010): 93-112.
Kunieda, Takuma, and Akihisa Shibata. “Credit constraints and the current account: A test for the Japanese economy.” Journal of International Money and Finance 24.8 (2005): 1261-1277.
Kitagawa, Akiomi, and Akihisa Shibata. “Endogenous growth cycles in an overlapping generations model with investment gestation lags.” Economic Theory 25.3 (2005): 751-762.
Ikeda, Shinsuke, and Akihisa Shibata. “Fundamentals uncertainty, bubbles, and exchange rate dynamics.” Journal of International Economics 38.3-4 (1995): 199-222.
Futagami, Koichi, Yuichi Morita, and Akihisa Shibata. “Dynamic analysis of an endogenous growth model with public capital.” The Scandinavian Journal of Economics (1993): 607-625.
Ikeda, Shinsuke, and Akihisa Shibata. “Fundamentals-dependent bubbles in stock prices.” Journal of Monetary Economics 30.1 (1992): 143-168.
Ono, Yoshiyasu, and Akihisa Shibata. “Spill-over effects of supply-side changes in a two-country economy with capital accumulation.” Journal of International Economics 33.1-2 (1992): 127-146.