Research

Last Update: Oct 14, 2026

For the complete list of publications, please visit Researchmap, ORCID , or CV .

Working Papers

Comments welcome.

• “Sectoral Reallocation, Monetary Policy, and the Zero Lower Bound”

  K. Hasui

  Available at SSRN: 7298778, Sep, 2026.
• “The Liftoff into Elusive Natural Rates”

  K. Hasui and Yuki Teranishi

  KEO Discussion Paper 202, Jun, 2026.
• “Habit Persistence and the Uncertainty Effect in a Liquidity Trap”

  K. Hasui and Satoshi Hoshino

  Available at SSRN: 4029534, Jun, 2025.

Published Papers

• “Do monetary policy and cost-push shock matter? Bank of Japan’s exit policy in 2024-2025”

  K. Hasui and Yuki Teranishi

  Japanese Economic Review 77(4), 763-781, 2026. Special Issue: “Macroeconomics and Japan’s Reality.”
• “Heterogeneous inflation volatility in production networks: Producer vs. consumer prices”

  K. Hasui and Teruyoshi Kobayashi

  Journal of Economic Dynamics and Control 190, 105373, 2026.
• “Liquidity trap and optimal monetary policy: Evaluations for U.S. monetary policy from 2020 to 2023”

  K. Hasui, Tomohiro Sugo, and Yuki Teranishi

  Journal of Economic Dynamics and Control 184, 105274, 2026.
• “Optimal monetary policy in a liquidity trap: Evaluations for Japan’s monetary policy”

  K. Hasui and Yuki Teranishi

  Journal of the Japanese and International Economies 76, 101361, 2025.
• “Progressive taxation and robust monetary policy”

  Kazuki Hiraga and K. Hasui

  The B.E. Journal of Macroeconomics 23(2), 845-884, 2023.
• “Optimal irreversible monetary policy”

  K. Hasui, Teruyoshi Kobayashi, and Tomohiro Sugo

  European Economic Review 134, 103707, 2021.
• “How robustness can change the desirability of speed limit policy”

  K. Hasui

  Scottish Journal of Political Economy 68(5), 553-570, 2021.
• “Trend growth and robust monetary policy “

  K. Hasui

  The B.E. Journal of Macroeconomics 21(2), 449-447, 2021.
• “A note on robust monetary policy and non-zero trend inflation”

  K. Hasui

  Macroeconomic Dynamics 24(6), 1574-1594, 2020.
• “Role of expectations in a liquidity trap”

  K. Hasui, Yoshiyuki Nakazono, and Yuki Teranishi

  Journal of the Japanese and International Economies 52, 201-215, 2019.
• “Efficient immunization strategies to prevent financial contagion”

  Teruyoshi Kobayashi and K. Hasui

  Scientific Reports 4, 3834, 2014.
• “The liquidity effect and tightening effect of the zero lower bound”

  K. Hasui

  Japanese Journal of Monetary and Financial Economics 2(2), 1-15, 2014.