Last Update: Sep 10, 2018


  1. “The liquidity effect and tightening effect of the zero lower bound”,
    Kohei Hasui
    Japanese Journal of Monetary and Financial Economics, Vol. 2(2), pp.1-15 Japan Society of Monetary Economics, 2014. [Paper]
  1. “Efficient immunization strategies to prevent financial contagion”,
    Teruyoshi Kobayashi and Kohei Hasui
    Scientific Reports 4 article number 3834, Nature, 2014. [Paper]
    This research was featured by Graduate School of Economics Kobe University: [Link]

Other Publication

  1. “Financial markets and the channels of monetary policy transmission”,
    Kohei Hasui and Teruyoshi Kobayashi
    Journal of Economics and Business Administration (Kokumin-Keizai Zasshi) Vol. 207(2), pp. 65-78, 2013. (in Japanese)

Working Papers

  • “Role of Expectation in a Liquidity Trap”, 2018. [Paper]
    with Yoshiyuki Nakazono and Yuki Teranishi
    UTokyo Price Project Working Paper Series University of Tokyo No.99, 2018
  • “Robust Monetary Policy and Non-zero Trend Inflation”, 2017.
    (Under revision), Aug 2018.
    - This paper was presented on July 2017 at International Finance and Development Economics Workshop.
    - Also, presented on February 2018 at KMSG and Economics Work Shop in Meiji Gakuin University.
    - Also, presented on May 2018 at JSME Spring Meeting.
  • “Optimal Monetary Policy, Anticipated Shocks, and Liquidity Traps”, 2017.
    - This paper was presented on October 2016 at JSME Autumn Meeting.
    - Also, presented on March 2017 at Development and Policy Seminar.
  • “Liquidity Trap and Optimal Monetary Policy Revisited”, 2016. [Paper]
    with Tomohiro Sugo and Yuki Teranishi
    UTokyo Price Project Working Paper Series University of Tokyo No.79, 2016
    - This paper was presented on August 2015 at Summer Workshop on Economic Theory (SWET).
    - Also, presented on November 2015 at 17th Macroeconomics Conference.

Work in Progress (Selected)

  • “A Note on Nominal Rigidities and Model Misspecification”,
    under revision and coming soon as a working paper.
    - This paper was presented on October 2017 at JSME Autumn Meeting.
  • “Trend Inflation and Liquidity Trap: How Uncertainty Effect is Important?”, (Joint Work)
  • “Targeting and Anchoring in a Liqudity Trap”,
    - This paper was presented on March 2018 in Sophia University.

Presentations (Conference and Seminars)

  • 2018
    Japanese Economic Association Autumn Meeting (September, Gakushuin University)
    JSME Spring Meeting (May, Senshu University)
    Economics Workshop (March, Sophia University)
    The 52th KMSG Workshop (February, Meiji Gakuin University)
  • 2017
    JSME Autumn Meeting (October, Kagoshima University).
    International Finance and Development Economics Workshop (July, Kurume University).
    Development and Policy Seminar (March 10, University of Hyogo).
  • 2016
    JSME Autumn Meeting (October, Kansai University).
    Monetary Economics Seminar (October, Matsuyama University).
    The 39th KMSG Workshop (March, Kwansei Gakuin University).
  • 2015
    The 17th Macroeconomics Conference (November, Hitotsubashi Universuty).
    SWET (August, Hokkaido University).
    JSME Autumn Meeting (October, Tohoku Universuty).
    Japan Association for Applied Economics (May, Kyushu Sangyo University).
  • 2014
    DSGE Meeting (October, Kobe University).
    JSME Autumn Meeting (October, Yamaguchi University).
    Modern Monetary Economics (MME) Summer Institute (October, Kobe University).
    Japanese Economic Association Spring Meeting (May, Doshisha University).
  • 2013
    Japan Society of Monetary Economics Autumn Meeting (September, Nagoya University).
    Rokko Forum (November, May, Kobe University).

Competitive Grants

  • Principal Investigator:
    JSPS KAKENHI 17K13768 Grant-in-Aid for Young Scientists (B).
    FY2017-2020, JPY3,510,000.