Makoto Saito Faculty of Economics Hitotsubashi University 本文へジャンプ
"Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.'' (by Lord Robbins in 1932)

【研究と社会のはざまにあって】
 「震災復興と土地の有効活用」(Toyro Business 2012年5月号所収)

 2010年、2011年のエッセイ類についてはこちらへ。


 2009年までのエッセイ類についてはこちらへ。             

Recent Working Papers
behavioral economics
An estimation of the consumer valuation of radiation-contaminated food: A new discrete/continuous choice approach, jointly written with Masataka Suzuki (pdf, April 2012)

incomplete markets
A portfolio theory of international capital flows, jointly written with Michael B. Devereux (pdf, February 2006, revised in June 2006, May 2007)
Seasonal demand for liquid assets and yield curves: Evidence from the periodic payment practice in Japan, jointly written with Shigenori Shiratsuka and Noriyuki Yanagawa (pdf, August 2005, revised in June 2006)

macroeconomics and finance
On the determination of convenience on Japanese government bonds, jointly written with Yuichi Fukuta and Shingo Takagi (pdf, October 2007)

   

Recent Publication
On the comparison of alternative specifications of highly interest-elastic money demand: The case of extremely low interest-rate regimes in Japan, forthcoming in Journal of The Japanese and International Economies (pfd, December 2011)
「活断層リスクの社会的認知と活断層帯周辺の地価形成の関係について:上町断層帯のケース」,顧濤,中川雅之,齊藤誠,山鹿久木,『応用地域学研究』 第16巻 (2011),27-41.
「東京都における地域危険度ランキングの変化が地価の相対水準に及ぼす非対称的な影響について:市場データによるプロスペクト理論の検証」,顧濤,中川雅之,齊藤誠,山鹿久木,『行動経済学』 第4巻 (2011),1-19.
On the consumption insurance effects of long-term care insurance in Japan: Evidence from micro household data, jointly written with Yasushi Iwamoto and Miki Kohara, Journal of The Japanese and International Economies 24:1 (2010), 99-115.
On the intergenerational sharing of cohort-specific shocks on permanent income, jointly written with Kenji Miyazaki and Tomoaki Yamada, Macroeconomic Dynamics 14:1 (2010), 93-118.
日本企業の流動性資産保有に関する実証研究:上場企業の財務データを用いたパネル分析,堀敬一と安藤浩一と共著,『現代ファイナンス』,No. 27 (2010), 3-24.
Credit spreads on corporate bonds and the macroeconomy in Japan, jointly written with Kiyotaka Nakashima, Journal of The Japanese and International Economies 23:3 (2009), 309-331.
On empirical implications of highly interest-elastic money demand: A Note, jointly written with Kiyotaka Nakashima, Hitotsubashi Journal of Economics 50:1 (2009), 29-34.
Incomplete financial markets, irreversibility of investment, and fiscal and monetary policy instruments, jointly written with Kenji Miyazaki and Kiyohiko Nishimura, Japanese Economic Review, 60:3 (2009), 271-300.
Earthquake risks and land prices: Evidence from the Tokyo metropolitan area, jointly written with Masayuki Nakagawa and Hisaki Yamaga, Japanese Economic Review, 60:2 (2009), 208-222.
Risk premiums versus waiting-options premiums: A simple numerical example, jointly written with Kenji Miyazaki, The B.E. Journal of Theoretical Economics 9:1 (2009), Article 7 (pdf)

「家計消費と設備投資の代替性について:最近の日本経済の資本蓄積を踏まえて」,『現代経済学の潮流 2008』,27-68, 2008年8月,東洋経済新報社.(pdf, October 2007)
Forward discount puzzle and official interventions: An empirical note, jointly written with Yuichi Fukuta, Osaka Economic Papers 57:2 (2007), 25-35.

Earthquake risks and housing rents: Evidence from the Tokyo metropolitan area, jointly written with Masayuki Nakagawa and Hisaki Yamaga, Regional Science and Urban Economics 37:1 (2007), 87-99.
On effects of the Hyogo earthquake on household consumption: A note, jointly written with Miki Kohara and Fumio Ohtake, Hitotsubashi Journal of Economics 47:2 (2006), 219-228.
 What caused fixed investment to stagnate during the 1990s in Japan?: Evidence from panel data of listed companies, jointly written with Keiichi Hori and Koichi Ando, Japanese Economic Review 57:2 (2006), 283-306.
「1990年代の設備投資の停滞について:上場企業の財務データからの考察」,堀敬一,安藤浩一と共著,林文夫編『制度の実証分析』所収,林文夫編著『経済制度の実証分析と設計』全3巻,第2巻『金融の機能不全』,3-34,2007年1月,勁草書房.
「ABS発行市場における劣後引受の役割」,井坂直人,大橋和彦と共著,林文夫編『制度の実証分析』所収,勁草書房,林文夫編著『経済制度の実証分析と設計』全3巻,第2巻『金融の機能不全』,187-222,2007年1月,勁草書房.

A note on the robustness of the Tobin effect in incomplete markets, jointly written with Yosuke Takeda, Macroeconomic Dynamics 10:1 (2006), 131-143.
「企業内キャッシュフローと企業価値:日本の株式消却に関する実証研究を通じての考察」,広瀬純夫,柳川範之と共著,『経済研究』第56巻第1号 (2005),30-41.
On alternatives to aggregate demand policies to revitalize the Japanese Economy, jointly written with Kiyohiko G. Nishimura, Asian Economic Papers 2:3 (2003), 87-126.
Preference for early resolution and commitment, jointly written with Kenji Miyazaki, Finance Research Letters 1:2 (2004), 113-118.