Updated on 2024/10/21

写真a

 
ASADA Toichiro
 
Organization
Faculty of Economics Professor
Other responsible organization
Economics Course of Graduate School of Economics, Master's Program
Economics Course of Graduate School of Economics, Doctoral Program
Contact information
The inquiry by e-mail is 《here
External link

Degree

  • Ph. D. of Economics ( Chuo University )

  • MA of Economics ( Hitotsubashi University )

Education

  • 1982.3
     

    Hitotsubashi University   Graduate School, Division of Economics   Economics   doctor course   withdrawn without a degree after completion of course credits

  • 1979.3
     

    Hitotsubashi University   Graduate School, Division of Economics   master course   completed

  • 1977.3
     

    Waseda University   Faculty of Political Economics   graduated

Research History

  • 1994.4 -  

    中央大学経済学部教授

  • 1993.4 - 1994.3

    中央大学経済学部助教授

  • 1987.4 - 1993.3

    駒澤大学経済学部助教授

  • 1983.4 - 1987.3

    駒澤大学経済学部専任講師

  • 1982.4 - 1983.3

    一橋大学経済学部助手

Professional Memberships

  • 2014.11 - Now

    応用経済学会

  • 2013.8 - Now

    景気循環学会

  • 2010.12 - Now

    Keynes Society Japan

  • 1998.10 - Now

    日本地域学会

  • 1996.3 - Now

    進化経済学会

  • 1994.10 - Now

    Regional Science Association International

  • 1984.10 - Now

    経済学史学会

  • 1984.10 - Now

    金融学会

  • 1980.10 - Now

    Japanese Economic Association

  • 1989.10 - 2015.10

    American Economic Association

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Research Interests

  • General Theory of Economics

Research Areas

  • Humanities & Social Sciences / Economic theory  / Economic theory

Papers

  • Ambient Charges in a Dynamic Limit Pricing Model: The Case When the Pollutant Accumulates as a Stock

    The Journal of Economics of Chuo University   65 ( 1 )   175 - 198   2024.6

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  • On the Economic Effects of Ambient Charges in a Dynamic Limit Pricing Model

    with Yuichi Sato

    The Annual of the Institute of Economic Research Chuo University   ( 55 )   233 - 254   2023.10

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  • A Mathematical Analysis of a MMT Type Coordinated Fiscal and Monetary Stabilization Policy in a Dynamic Keynesian Model Reviewed

    with Rudolf Zimka, Michel Demetrian, Emilia Zimkova

    Journal of Economic Behavior and Organization   215   442 - 454   2023.10

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  • On Coordinated Fiscal and Monetary Stabilization Policy by Means of Dynamic Keynesian Model

    The Annual of the Institute of Economic Research Chuo University   ( 54 )   183 - 204   2022.9

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  • Purchase of Government Bonds by a Supranational Central Bank: Its Impact on Business Cycles Invited Reviewed

    with Masato Nakao

    Evolutionary and Institutional Economics Review   19   395 - 424   2022.5

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  • On Fiscal and Monetary Policy Mix in Response to COVID-19 : Austerity versus Anti-Austerity Invited

    Business Cycles   ( 72 )   75 - 89   2021.11

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  • A Three-country Kaldorian Business Cycle Model with Fixed Exchange Rates : A Continuous Time Analysis Reviewed

    with R. Zimka, M. Demetrian, T. Inaba

    Discrete and Continuous Dynamical Systems Series B   doi : 103934 ( dcdsb.2021143 )   1 - 17   2021.6

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  • On the Dynamic Properties of the So-called Neoclassical Marxian Model : The Case of Ramsey-type Optimal Growth

    The Journal of Economics of Chuo University   61 ( 5・6合併 )   129 - 162   2021.3

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  • Coordinated Fiscal and Monetary Stabilization Policy in the Manner of MMT : A Study by Means of Dynamic Keynesian Model Invited Reviewed

    The Review of Keynesian Studies   2   148 - 174   2020.11

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  • On Dynamics of a Three-Country Kaldorian Business Cycles with Fixed Exchange Rates Invited

    with Toshio Inaba

    F. Szidarovszky and G. I. Bischi (eds.) "Games and Dynamics in Economics : Essays in Honor of Akio Matsumoto"   103 - 124   2020.5

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  • On the Mundell-Fleming Model with Perfect and Imperfect Capital Mobility under Flexible Exchange Rates Invited

    Rikkyo Economic Review   73 ( 2 )   31 - 59   2019.10

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  • On Dynamics in a Keynesian Model of Monetary and Fiscal Policy Mix with Twin Debt Accumulation Reviewed

    with Michel Demetrian, Rudolf Zimka

    Metroeconomica   70   365 - 383   2019.8

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Wiley  

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  • On a Three Country Mundell-Fleming Model with Mixed Type of Fixed and Flexible Exchange Rates : The Case of Imperfect Capital Mobility

    The Annual of the Institute of Economic Research Chuo University   ( 50 )   605 - 640   2018.10

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  • Erratum to “Inflation-deflation expectations and economic stability in a Kaleckian system” [Journal of Economic Dynamics and Control 92 (2018) 183–201] (S0165188917302373) (10.1016/j.jedc.2017.11.004))

    Hiroki Murakami, Toichiro Asada

    Journal of Economic Dynamics and Control   92   202   2018.7

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Elsevier B.V.  

    The publisher regrets to inform you that the article above was not included within the Special Issue entitled ‘In honour of Prof. Carl Chiarella’ which was published within Issue 91 of the Journal of Economic Dynamics and Control. The publisher would like to offer a sincere apology to the authors for this error and for any inconvenience caused.

    DOI: 10.1016/j.jedc.2018.06.006

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  • Inflation-deflation Expectations and Economic Stability in a Kaleckian System Invited Reviewed

    with Hiroki Murakami

    Journal of Economic Dynamics and Control   92   183 - 201   2018.7

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  • The Relationship Between the Rate of Profit and the Rate of Economic Growth : A Critical Examination of Piketty's Theory Invited

    Political Economy Quarterly   55 ( 2 )   7 - 16   2018.7

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    Language:Japanese   Publishing type:Research paper (scientific journal)   Publisher:Japan Society of Political Economy  

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  • Production Lag in a Marxian Model of Economic Growth

    with Akio Matsumoto

    The Journal of Economics of Chuo University   58 ( 5 ・6合併号 )   321 - 338   2018.3

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  • On Dynamics in Keynesian Model of Monetary Stabilization Policy with Debt Effect Reviewed

    with Michel Demetrian, Rudolf Zimka

    Communications in Nonlinear Science and Numerical Simulation   58   131 - 146   2018.1

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  • On the Dynamic and Comparative Static Characteristics of Kaldorian Two Country Business Cycle Model Under Flexible Exchange Rates

    Akio Matsumoto (Ed.) "New Developments of Economic Theory, Its Application and Empirical Analysis"   3 - 41   2017.11

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    Language:Japanese   Publishing type:Part of collection (book)   Publisher:Chuo University Press  

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  • Inflation-deflation Expectations and Economic Stability in a Kaleckian System

    with Hiroki Murakami

    Discussion Paper, Institute of Economic Research, Chuo University   279 ( 279 )   1 - 30   2017.4

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    Language:English   Publishing type:Research paper (other academic)   Publisher:Institute of Economic Research, Chuo University  

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  • The Inequality r>g is Not Necessary Nor Sufficient Condition for the Expanding Inequality : A Critical Examination of Piketty's Proposition

    The Journal of Economics (Chuo University)   57 ( 5・6 )   101 - 130   2017.3

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    Language:Japanese   Publishing type:Research paper (bulletin of university, research institution)   Publisher:Chuo University Pewss  

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    Other Link: http://ir.c.chuo-u.ac.jp/repository/search/item/md/rsc/p/9960/

  • Marxian Growth Model with Production Delay

    with Akio Matsumoto, Ferenc Szidarovsky

    IERCU Discussion Paper   276 ( 276 )   1 - 13   2017.3

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    Language:English   Publishing type:Research paper (conference, symposium, etc.)   Publisher:Institute of Economic Research, Chuo University  

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  • The Stability of Normal Equilibrium Point and the Existence of Limit Cycles in a Simple Keynesian Macrodynamic Model of Monetary Policy Reviewed

    with M. Demetrian, R. Zimka

    A. Matsumoto, F. Szidarovsky and T. Asada (eds.) "Essays in Economic Dynamics : Theory, Simulation Analysis, and Methodological Study"   145 - 162   2016.10

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  • The Effects of Fiscal and Monetary Policies in a Mundell-Fleming Model under Flexible Exchange Rate System:The Case of Imperfect Capital Mobility

    Institute of Economic Research, Chuo University (ed.) "Revival of Japanese Economy and New International Relationships"   187 - 215   2016.2

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  • Spcific Controversies in Japan on Deflation and Monetary Policy and 'Variety of Economics' Invited

    Business Cycle   ( 60 )   99 - 109   2015.11

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    Language:Japanese   Publishing type:Research paper (scientific journal)   Publisher:Japanese Society of Business Cycle  

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  • Mathematical Formalization of Macroeconomic Stabilization Policy in a High-dimansional Dynamic Keynesian Model with Public Debt Accumulation Reviewed

    With M. Ouchi

    Acta Mathematica Universitatis Comenianae   84 ( 2 )   229 - 242   2015.9

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Comenius University, Slovakia  

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  • Nonnegative Constraint of Nominal Interest Rate and Dynamic Theories of Monetary Policy : 'New Keynesian' Versus 'Old Keynesian'

    The Annual of the Institute of Economic Research Chuo University   ( 46 )   591 - 634   2015.9

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    Other Link: http://ir.c.chuo-u.ac.jp/repository/search/item/md/rsc/p/8163/

  • Short-run Dynamics in Kaldor-Kalecji Model

    with A. Matuomoto

    The Journal of Economics of Chuo University   55 ( 3・4合併号 )   49 - 65   2015.3

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    Other Link: http://ir.c.chuo-u.ac.jp/repository/search/item/md/rsc/p/8365/

  • Monetary Policy in a Delay Dynamic Keynesian Model

    with Akio Matsumoto

    The Annual of the Institute of Economic Research Chuo University   45 ( 45 )   143 - 160   2014.9

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    Other Link: http://ir.c.chuo-u.ac.jp/repository/search/item/md/rsc/p/6438/

  • Mathematical Modelling of Financial Instability and Macroeconomic Stabilization Policies Invited Reviewed

    R. Dieci, X. Z. He and C. Hommes (eds.) "Nonlinear Economic Dynamics and Financial Modelling : Essays in Honour of Carl Chiarella"   41 - 63   2014.8

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  • On a Mathematical Model of the Neo-Ricardian Theory of Differential Rwnt Invited

    Y. Shiozawa and Y. Aruka (eds.) "Reconstructing Economics : Evolutionary Economics and Classical Theory of Value"   245 - 267   2014.3

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  • Macrodynamics of Deflationary Depression : A Japanese Perspective Reviewed

    T. Asada (ed.) "The Development of Economics in Japan : From the Inter-war Period to the 2000s"   155 - 206   2014.1

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  • Japanese Contributions to Dynamic Economic Theories from the 1940s to the 1970s : A Historical Survey Reviewed

    T. Asada (ed.) "The Development of Economics in Japan : From the Inter-war Period to the 2000s"   61 - 89   2014.1

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  • Abenomics and the Problem of Public Finance Invited

    Business Cycle   ( 56 )   55 - 67   2013.11

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  • On a Macroeconomic Stabilization Policy by Means of the Fiscal and Monetary Policy Mix : A Mathematical Consideration

    The Annual of the Institute of Economic Research Chuo University   ( 44 )   495 - 513   2013.9

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    Language:Japanese   Publishing type:Research paper (bulletin of university, research institution)   Publisher:The Institute of Economicb Research Chuo University  

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  • An Analytical Critique of 'New Keynesian' Dynamic Model Invited Reviewed

    Post Keynesian Review   2 ( 1 )   1 - 28   2013.8

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:The Japanese Society for Post Keynesian Economics  

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  • On the Propagation Process of the Exogenous Disturbances in a 'New Keynesian' Dynamic Model : A Critical Examination

    Asada Toichiro

    The Journal of Economics(Chuo University)   53 ( 3・4 )   231 - 245   2013.3

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  • On Mathematical Principles of Financial Instability and Monetary Stabilization Policy : A Minskian Approach

    Asada Toichiro

    The Journal of Economics(Chuo University)   53 ( 5・6 )   315 - 334   2013.3

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  • Monetary Stabilization Policy by Means of the Taylor Rule in a Dynamic Keynesian Model with Capital Accumulation Invited

    R. Kuroki (ed.) "Keynes and Modern Economics"   135 - 154   2013.1

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  • Cyclical fluctuations in continuous time dynamic optimization models: Survey of general theory and an application to dynamic limit pricing Reviewed

    Toichiro Asada

    Springer Optimization and Its Applications   76   205 - 228   2013

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    Language:English   Publishing type:Part of collection (book)   Publisher:Springer International Publishing  

    In this chapter, we reconsider the analytical results on the existence of cyclical fluctuations in continuous time dynamic optimizationmodels with two state variables and their applications to dynamic economic theory. In the first part, we survey the useful analytical results which were obtained by Dockner and Feichtinger (J Econom 53-1:31-50, 1991), Liu (J Math Anal Appl 182:250-256, 1994) and Asada and Yoshida (Chaos, Solitons and Fractals 18:525-536, 2003) on the general theory of cyclical fluctuations in continuous time dynamic optimizing and nonoptimizing models. In the second part, we provide an application of these analytical results to a particular continuous time dynamic optimizing economic model, that is, a model of dynamic limit pricing with two state variables, which is an extension of Gaskins (J Econom Theor 3:306-322, 1971) prototype model.

    DOI: 10.1007/978-1-4614-5131-0_13

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  • Modeling Financial Instability Reviewed

    Intervention : European Journal of Economics and Economic Policies   9 ( 2 )   215 - 232   2012.10

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Metropolis  

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  • 'New Keynesian' Dynamic Model : A Critical Examination and Proposal of an Alternative Approach

    The Journal of Economics(Chuo University)   52 ( 4 )   147 - 170   2012.3

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  • Analytical Expressions of Periodic Disequilibrium Fluctuations Generated by Hopf Bifurcations in Economic Dynamics Reviewed

    T. Asada, V. Kalantonis, M. Markakis, P. Markellos

    Applied Mathematics and Computation   218   7066 - 7077   2012.2

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  • Macrodynamics of Public Debt Accumulation and Fiscal-Monetary Policies : On Inappropriate Policy Mix Invited

    Toichiro Asada

    K. Watanabe (ed.) "Money, Finance and Income Distribution"   3 - 30   2011.12

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    Language:Japanese   Publishing type:Part of collection (book)   Publisher:Nihon Keizai Hyoron-sha  

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  • Output, Stock Markets and Macro-Policy Measures in a Keynesian Portfolio Model Reviewed

    T. Asada, M. Charpe, P. Flaschel, C. Malikane, T. Mouakil, C. R. Proano

    Intervention : European Journal of Economics and Economic Policies   8 ( 2 )   341 - 360   2011.10

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Metlopolis, Germany  

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  • Stock-Flow Interactions, Disequilibrium Macroeconomics and the Role of Economic Policy Reviewed

    T. Asada, C. Chiarella, P. Flaschel, T. Mouakil, C. Proano, W. Semmler

    Journal of Economic Surveys   25 ( 3 )   569 - 599   2011.5

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Blackwell, Oxford, U. K.  

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  • Macrodynamics of a Wage-led Economy and a Profit-led Economy Reviewed

    T. Asada, M. Ochi

    T. Puu and A. Panchuk (eds.) "Nonlinear Economic Dynamics"   93 - 110   2011.5

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    Language:English   Publishing type:Research paper (international conference proceedings)   Publisher:Nova Science Publishers(New York)  

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  • Sustainable capitalism: Full-employment flexicurity growth with real wage rigidities Reviewed

    Toichiro Asada, Peter Flaschel, Alfred Greiner, Christian R. Proano

    JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION   77 ( 3 )   248 - 264   2011.3

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:ELSEVIER SCIENCE BV  

    In this paper we present a model of flexicurity capitalism that exhibits a second labor market with the government as an employer of first resort, where all workers not employed by firms in the private sector find meaningful employment. We show that the model exhibits a unique interior steady state which is asymptotically stable under real wage adjustment dynamics of the type considered in Blanchard and Katz (1999), and under a type of Okun's Law that links the level of utilization of firms to their hiring and firing decision. The introduction of a company pension fund can be shown to contribute to the viability of the analyzed economic system. However, when credit is incorporated in the model, in place of savings-driven supply side fluctuations in economic activity, investment-driven demand side business cycle fluctuations (of a probably much more volatile type) can take place. (C) 2010 Elsevier B.V. All rights reserved.

    DOI: 10.1016/j.jebo.2010.10.009

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  • Numerical Exploration of Kaldorian Interregional Macrodynamics: Stability and the Trade Threshold for Business Cycles Under Fixed Exchange Rates Reviewed

    Toichiro Asada, Christos Douskos, Panagiotis Markellos

    NONLINEAR DYNAMICS PSYCHOLOGY AND LIFE SCIENCES   15 ( 1 )   105 - 128   2011.1

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:SOC CHAOS THEORY PSYCHOLOGY & LIFE SCIENCES  

    The stability of equilibrium and the possibility of generation of business cycles in a discrete interregional Kaldorian macrodynamic model with fixed exchange rates are explored using numerical methods. One of the aims is to illustrate the feasibility and effectiveness of the numerical approach for dynamical systems of moderately high dimensionality and several parameters. The model considered is five-dimensional with four parameters, the speeds of adjustment of the goods markets and the degrees of economic interactions between the regions through trade and capital movement. Using a grid search method for the determination of the region of stability of equilibrium in two-dimensional parameter subspaces, and coefficient criteria for the flip bifurcation - and Hopf bifurcation - curve, we determine the stability region in several parameter ranges and identify Hopf bifurcation curves when they exist. It is found that interregional cycles emerge only for sufficient interregional trade. The relevant threshold is predicted by the model at 14 - 16 % of trade transactions. By contrast, no minimum level of capital mobility exists in a global sense as a requirement for the emergence of interregional cycles; the main conclusion being, therefore, that cycles may occur for very low levels of capital mobility if trade is sufficient. Examples of bifurcation and Lyapunov exponent diagrams illustrating the occurrence of cycles or period doubling, and examples of the development of the occurring cycles, are given. Both supercritical and subcritical bifurcations are found to occur, the latter type indicating coexistence of a point and a cyclical attractor.

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  • Hypercrater Bifurcations, Attractor Coexistence, and Unfolding in a 5D Model of Economic Dynamics Reviewed

    Toichiro Asada, Panagiotis Markellos

    DISCRETE DYNAMICS IN NATURE AND SOCIETY   2011 ( Article ID 841324 )   1 - 17   2011

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:HINDAWI PUBLISHING CORPORATION  

    Complex dynamical features are explored in a discrete interregional macrodynamic model proposed by Asada et al., using numerical methods. The model is five-dimensional with four parameters. The results demonstrate patterns of dynamical behaviour, such as bifurcation processes and co-existence of attractors, generated by high-dimensional discrete systems. In three cases of two-dimensional parameter subspaces the stability of equilibrium region is determined and its boundaries, the flip and Neimark-Hopf bifurcation curves, are identified by means of necessary coefficient criteria. In the first case closed invariant curves (CICs) are found to occur through 5D-crater-type bifurcations, and for certain ranges of parameter values a stable equilibrium coexists with an unstable CIC associated with the subcritical bifurcation, as well as with an outer stable CIC. A remarkable feature of the second case is the coexistence of two attracting CICs outside the stability region. In both these cases the related hysteresis effects are illustrated by numerical simulations. In the third case a remarkable feature is the apparent unfolding of an attracting CIC before it evolves to a chaotic attractor. Examples of CICs and chaotic attractors are given in subspaces of phase space.

    DOI: 10.1155/2011/841324

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  • Central Banking and Deprationary Depression : A Japanese Perspective Invited

    M. Cappello and C. Rizzo (eds.) Central Banking and Globalization   91 - 114   2010.10

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  • Stabilizing an Unstable Economy: On the Choice of Proper Policy Measures Reviewed

    Toichiro Asada, Carl Chiarella, Peter Flaschel, Tarik Mouakil, Christian R. Proano, Willi Semmler

    ECONOMICS-THE OPEN ACCESS OPEN-ASSESSMENT E-JOURNAL   4 ( 2010-21 )   1 - 43   2010.7

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:KIEL INST WORLD ECONOMY  

    In the last months, the world's economies were confronted with the largest economic recession since the Great Depression. The occurrence of a worldwide financial market meltdown as a consequence originally stemming from of the crisis in the US subprime housing sector was only prevented by extraordinary monetary and fiscal policy measures implemented at the international level. Although the world economy seems now to be slowing recovering, it is worthwhile exploring the fragility and potentially destabilizing feedbacks of advanced macroeconomies in the context of Keynesian macro models. Fragilities and destabilizing feedback mechanisms are known to be potential features of all markets-the product markets, the labor market, and the financial markets. In this paper we focus in particular on the financial market. We use a Tobin-like macroeconomic portfolio approach, and the interaction of heterogeneous agents on the financial market to characterize the potential instability of the financial markets. Though the study of the latter has been undertaken in many partial models, we focus here on the interconnectedness of all three markets. Furthermore, we also study how labor market, fiscal and monetary policies can stabilize unstable macroeconomies. Besides other stabilizing policies we in particular propose a countercyclical monetary policy that sells assets in the boom and purchases assets in recessions. Modern stability analysis is brought to bear to demonstrate the stabilizing effects of those suggested policies.

    DOI: 10.5018/economics-ejournal.ja.2010-21

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  • Numerical Exploration of Kaldorian Interregional Macrodynamics: Enhanced Stability and Predominance of Period Doubling under Flexible Exchange Rates Reviewed

    Toichiro Asada, Christos Douskos, Vassilis Kalantonis, Panagiotis Markellos

    DISCRETE DYNAMICS IN NATURE AND SOCIETY   Volume 2010 ( Article ID 263041 )   1 - 29   2010

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:HINDAWI PUBLISHING CORPORATION  

    We present a discrete two-regional Kaldorian macrodynamic model with flexible exchange rates and explore numerically the stability of equilibrium and the possibility of generation of business cycles. We use a grid search method in two-dimensional parameter subspaces, and coefficient criteria for the flip and Hopf bifurcation curves, to determine the stability region and its boundary curves in several parameter ranges. The model is characterized by enhanced stability of equilibrium, while its predominant asymptotic behavior when equilibrium is unstable is period doubling. Cycles are scarce and short-lived in parameter space, occurring at large values of the degree of capital movement beta. By contrast to the corresponding fixed exchange rates system, for cycles to occur sufficient amount of trade is required together with high levels of capital movement. Rapid changes in exchange rate expectations and decreased government expenditure are factors contributing to the creation of interregional cycles. Examples of bifurcation and Lyapunov exponent diagrams illustrating period doubling or cycles, and their development into chaotic attractors, are given. The paper illustrates the feasibility and effectiveness of the numerical approach for dynamical systems of moderately high dimensionality and several parameters.

    DOI: 10.1155/2010/263041

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  • Numerical Exploration of Kaldorian Interregional Macrodynamics: Enhanced Stability and Predominance of Period Doubling under Flexible Exchange Rates Reviewed

    Toichiro Asada, Christos Douskos, Vassilis Kalantonis, Panagiotis Markellos

    DISCRETE DYNAMICS IN NATURE AND SOCIETY   2008   23   2010

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:HINDAWI PUBLISHING CORPORATION  

    We present a discrete two-regional Kaldorian macrodynamic model with flexible exchange rates and explore numerically the stability of equilibrium and the possibility of generation of business cycles. We use a grid search method in two-dimensional parameter subspaces, and coefficient criteria for the flip and Hopf bifurcation curves, to determine the stability region and its boundary curves in several parameter ranges. The model is characterized by enhanced stability of equilibrium, while its predominant asymptotic behavior when equilibrium is unstable is period doubling. Cycles are scarce and short-lived in parameter space, occurring at large values of the degree of capital movement beta. By contrast to the corresponding fixed exchange rates system, for cycles to occur sufficient amount of trade is required together with high levels of capital movement. Rapid changes in exchange rate expectations and decreased government expenditure are factors contributing to the creation of interregional cycles. Examples of bifurcation and Lyapunov exponent diagrams illustrating period doubling or cycles, and their development into chaotic attractors, are given. The paper illustrates the feasibility and effectiveness of the numerical approach for dynamical systems of moderately high dimensionality and several parameters.

    DOI: 10.1155/2010/263041

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  • Numerical Exploration of Kaldorian Interregional Macrodynamics: Enhanced Stability and Predominance of Period Doubling under Flexible Exchange Rates Reviewed

    Toichiro Asada, Christos Douskos, Vassilis Kalantonis, Panagiotis Markellos

    DISCRETE DYNAMICS IN NATURE AND SOCIETY   1194 - 1203   2010

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    We present a discrete two-regional Kaldorian macrodynamic model with flexible exchange rates and explore numerically the stability of equilibrium and the possibility of generation of business cycles. We use a grid search method in two-dimensional parameter subspaces, and coefficient criteria for the flip and Hopf bifurcation curves, to determine the stability region and its boundary curves in several parameter ranges. The model is characterized by enhanced stability of equilibrium, while its predominant asymptotic behavior when equilibrium is unstable is period doubling. Cycles are scarce and short-lived in parameter space, occurring at large values of the degree of capital movement beta. By contrast to the corresponding fixed exchange rates system, for cycles to occur sufficient amount of trade is required together with high levels of capital movement. Rapid changes in exchange rate expectations and decreased government expenditure are factors contributing to the creation of interregional cycles. Examples of bifurcation and Lyapunov exponent diagrams illustrating period doubling or cycles, and their development into chaotic attractors, are given. The paper illustrates the feasibility and effectiveness of the numerical approach for dynamical systems of moderately high dimensionality and several parameters.

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  • Coevolution in Nonlinear Dynamics or Variations on a Theme by Lotka and Volterra

    The Annual of the Institute of Economic Research, Chuo University   ( 40 )   233 - 256   2009.11

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  • A Keynesian Model of Endogenous Growth Cycle Invited

    with M. Ouchi

    R. O. Bailly (ed.) Emerging Topics in Macroeconomics   219 - 249   2009.7

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  • Neo-Ricardian theory of differential rent and Marxian theory of exploitation Invited Reviewed

    Toichiro Asada

    A History of Economic Theory: Essays in honour of Takashi Negishi   80 - 101   2009.4

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    Language:English   Publishing type:Part of collection (book)   Publisher:Routledge Taylor & Francis Group  

    DOI: 10.4324/9780203880074

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  • On the Existence of the Cyclical Fluctuations in Continuous Time Dynamic Optimization Models : A General Theory and its Applications to Economics

    The Annal of the Institute of Economic Research Chuo University   ( 39 )   205 - 222   2008.10

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  • Incorporating Positions into Asset Pricing Models with Order-based Strategies Reviewed

    Toichiro Asada, Reiner Franke

    Journal of Economic Interaction and Coordination   3   201 - 227   2008.5

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  • Macroeconomic Stabilization Policy in a High-Dimensional Keynesian Business Cycle Model Invited

    T. Nagakawa (ed.) Business Fluctuations and Cycles   25 - 42   2008.4

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  • Inflation, Deflation and Employment : A Macrodynamic Approach Invited

    D. T. Bentley and E. P. Nelson (eds.) Inflation : Roles, Targeting, and Dynamics   77 - 99   2008.4

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  • Continuous Time Analysis and Discrete Time Analysis in Macroeconomic Dynamics : Some Examples and Implications for an Analysis of the Japanese Economy

    Asada Toichiro

    The Journal of Economics of Chuo University   48 ( 1・2 )   89 - 120   2008.2

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  • On the Dynamic Properties of a Wage-led Economy and a Profit-led Economy Invited

    Journal of Economics and Business Administration, Kobe University   197 ( 1 )   35 - 49   2008.1

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    DOI: 10.24546/00056202

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  • デフレ不況と経済政策:実践的マクロ経済学としてのケインズ経済学の立場から Invited

    野口旭 編 「経済政策の研究:既得観念と経済学の相克」   249 - 287   2007.9

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  • A High-Dimensional Keynesian Macrodynamic Model with and without Time Delay of Policy Response Invited

    Asada Toichiro

    RIMS Kokyuroku   1557 ( 1557 )   14 - 27   2007.5

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    Other Link: http://hdl.handle.net/2433/81029

  • Dynamic Analysis of Policy Lag in a Keynes-Goodwin Model : Stability, Instability, Cycles and Chaos Reviewed

    Hiroyuki Yoshida, Toichiro Asada

    Journal of Economic Behavior and Organization   62   441 - 469   2007.4

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  • Interacting Two-Country Business Fluctuations : Euroland and the USA

    Co-auther, C. Chiarella, P. Flaschel, R. Franke

    G. L, Mazzi and G. Savio (eds.) Growth and Cycle in the Eurozone   109 - 118   2007.4

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  • Significance of the Keynesian Legacy from a Theoretical Viewpoint : A High-Dimensional Macrodynamic Approach

    Time and Space in Economics(Edited by T. Asada and T. Ishikawa)   81 - 96   2007.1

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  • Numerical exploration of Kaldorian macrodynamics: Hopf-Neimark bifurcations and business cycles with fixed exchange rates Reviewed

    Toichiro Asada, Christos Douskos, Panagiotis Markellos

    DISCRETE DYNAMICS IN NATURE AND SOCIETY   Volume 2007   16   2007

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    We explore numerically a three-dimensional discrete-time Kaldorian macrodynamic model in an open economy with fixed exchange rates, focusing on the effects of variation of the model parameters, the speed of adjustment of the goods market a, and the degree of capital mobility beta on the stability of equilibrium and on the existence of business cycles. We determine the stability region in the parameter space and find that increase of a destabilizes the equilibrium more quickly than increase of beta. We determine the Hopf-Neimark bifurcation curve along which business cycles are generated, and discuss briefly the occurrence of Arnold tongues. Bifurcation and Lyapunov exponent diagrams are computed providing information on the emergence, persistence, and amplitude of the cycles and illustrating the complex dynamics involved. Examples of cycles and other attractors are presented. Finally, we discuss a two-dimensional variation of the model related to a "wealth effect," called model 2, and show that in this case, a does not destabilize the equilibrium more quickly than beta, and that a Hopf-Neimark bifurcation curve does not exist in the parameter space, therefore model 2 does not produce cycles.

    DOI: 10.1155/2007/98059

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  • Stabilization Policy in a Keynes-Goodwin Model with Debt Accumulation Invited Reviewed

    Structural Change and Economic Dynamics   17   466 - 485   2006.4

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  • Prosperity and Stagnation in Capitalist Economies Invited

    共著者, P. Flaschel, P. Skott

    Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels(Edited by C. Chiarella, R. Franke, P. Flaschel, and W. Semmler)   415 - 448   2006.4

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  • Inflation Targeting Policy in a Dynamic Keynesian Model with Debt Accumulation : A Japanese Perspective Invited

    Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels(Edited by C. Chiarella, R. Franke, P. Flaschel, and W. Semmler)   517 - 544   2006.4

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  • AS-AD and the Phillips Curve : A Baseline Disequilibrium Model Invited

    共著者, P. Chen, C. Chiarella, P. Flaschel

    Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels(Edited by C. Chiarella, R. Franke, P. Flaschel, and W. Semmler)   173 - 227   2006.4

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  • Keynesian Dynamics and Wage-price Spiral : A Baseline Disequilibrium Model Reviewed

    共著者, P. Chen, C. Chiarella, P. Flaschel

    Journal of Macroeconomics   28   90 - 130   2006.4

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  • 流動性の罠の下におけるインフレーション・ターゲティング:動学的ケインジアン・モデルによる分析

    中央大学経済学部創立100周年記念論文集   1 - 14   2005.10

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  • Limit Pricing and Entry Dynamics with Heterogenous Firms Reviewed

    T. Asada, W. Semmler

    M. Galegatti, A. P. Kirman and M. Marsilli (eds.) "The Complex Dynamics of Economic Interaction"   35 - 48   2004.5

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  • Price Flexibility and Instability in a Macrodynamic Model with a Debt Effect Invited

    Asada Toichiro

    Journal of International Economic Studies   18   41 - 60   2004.3

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    In this paper, we investigate the impact of price flexibility on macroeconomic instability using as our analytical framework a macrodynamic model with a Fisher debt effect. We introduce the expectations-augmented Phillips curve and the adaptive expectations hypothesis into a macrodynamic model with a Fisher debt effect, as developed by Asada (2001). We demonstrate analytically that both of the increase of the speed of price adjustments and the increase of the speed of expectations adaptation contribute to destabilizing rather than stabilizing the economy, and we also show that at the intermediate ranges of the parameter values, cyclical fluctuations occur by means of the Hopf bifurcation theorem. We also present some numerical examples which support our analytical results.

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  • A Two-regional Model of Business Cycles with Fixed Exchange Rates: A Kaldorian Approach Reviewed

    Toichiro Asada

    Studies in Regional Science   34 ( 2 )   19 - 38   2004

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    In this paper, we investigate a nonlinear macrodynamic model of business cycles which describes the dynamic interaction of two regions which are connected through inter-regional trade and inter-regional capital movement with fixed exchange rates. Our model is formulated as a five-dimensional system of nonlinear differential equations, which is a two-regional extension of the Kaldorian business cycle model. We study the local stability/instability and the condition for the existence of the cyclical fluctuation analytically, and we also present some numerical examples which support our analytical results. © 2004, JAPAN SECTION OF THE REGIONAL SCIENCE ASSOCIATION INTERNATIONAL. All rights reserved.

    DOI: 10.2457/srs.34.2_19

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  • Monetary Policy, Currency Unions and Open Economy Macrodynamics Reviewed

    Co-auther, P. Flaschel, G. Gong, W. Semmler

    Bulletin of the Czech Econometric Society   10   1 - 37   2003.12

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  • From Employment Cycles to KMG Model Building Invited

    T. Asada, P. Flaschel, M. Krueger

    N. Fuhrmann, E. Schmoly and R.S.S. Sud (eds.) "Gegen den Strich"   75 - 100   2003.7

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  • A Two-regional Model of Business Cycles with a Fixed: A Kaldorian Approach

    Discussion Paper   44   2003.4

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  • Coefficient Criterlon for Four-dimensional Hopf Bifurcations: A Complete Mathematical Characterization and Applications to Economic Dynamics Invited Reviewed

    共著者, 吉田博之

    Chaos, Solitons and Fractals   18   525 - 536   2003.4

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  • Capitalism and Cumulative Instability Invited

    Y. Sato (ed.) "Market Economy and Its Reform"   159 - 176   2003.3

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  • Price Flexibility and Instability in a Macrodynamic Model with a Debt Effect

    Disucussion Paper   ( 483 )   2002.4

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  • Growth versus environment in dynamic models of capital accumulation Reviewed

    T Asada

    DISCRETE DYNAMICS IN NATURE AND SOCIETY   7 ( 2 )   101 - 109   2002

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    In this paper, we study the economic implications of the trade off between growth and environment in the context of dynamic models of capital accumulation. The collective solution is formulated in terms of dynamic optimization of the central planner, and the decentralized solution is formulated in terms of differential game between workers and capitalists. We compare the economic properties of two solutions.

    DOI: 10.1080/1026022021000000266

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  • Nonlinear Dynamics of Debt and Capital : A Post Keynesian Analysis

    Y. Aruka and Japanese Association for Evolutionary Economics (eds.) "Evolutionary Controversies in Economics"   73 - 87   2001.7

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  • Debt Effect and Macroeconomic Instability

    The Annual of the Institute of Economic Research Chuo University   ( 31 )   511 - 525   2001.3

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  • Stability, instability and complex behavior in macrodynamic models with policy lag Reviewed

    T Asada, H Yoshida

    DISCRETE DYNAMICS IN NATURE AND SOCIETY   5 ( 4 )   281 - 295   2001

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    We construct simple macrodynamic models with policy lag by means of mixed difference and differential equations, and study how lags in policy response affect the macroeconomic (in)stability. Local dynamics of the prototype model are studied analytically, and the global dynamics of the prototype and the extended models are studied by means of numerical simulations. We show that the government can stabilize the intrinsically unstable economy if the policy lag is sufficiently short, but the system becomes locally unstable when the policy lag is too long. We also show the existence of cycles and complex behavior in some range of the policy lag.

    DOI: 10.1155/S1026022600000583

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  • An Interregional Dynamic Model: the Case of Fixed Exchange Rates Reviewed

    T. Asada, T. Inaba, T. Misawa

    Studies in Regional Science   31 ( 2 )   29 - 41   2001

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    DOI: 10.2457/srs.31.2_29

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  • Nonlinear Macroeconomic Dynamics: A Study of Noise Effects

    T. Inaba, T. Asada, T. Misawa

    Technical report of IEICE,   101 ( 464 )   79 - 88   2001

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  • An Interregional Dynamic Model

    Toshio Inaba, Toichiro Asada

    Proceedings of the Japan Society of the RSAI, 2000   391 - 398   2000.11

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  • Growth rersus Environment in Dynamic Model of Capital Accumulation

    CRUGE Discussion Paper   ( 5 )   1 - 26   2000.9

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  • Nonlinear Economic Dynamics in a Two-Country Model with Fixed Exchange Rates

    Toichiro Asada, Tetsuya Misawa, Toshio Inaba

    NOLTA2000 Proceedings   2   515 - 518   2000.9

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  • Nonlinear Dynamics of Policy Lag in Simple Macroeconomic Models

    Toichiro Asada, Hiroyuki Yoshida

    NOLTA2000 Proceedings   2   523 - 526   2000.9

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  • Debt Effect and Macroeconomic Instability Invited

    H. Matuomoto and H Kataoka (eds.) "Essays in Modern Economics"   2 - 17   2000.3

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  • A Macrodynamic Analysis of Flexible Exchange Rate System : Chaotic Fluctuations and Noise Effects

    Toichiro Asada, Tetsuya Misawa, Toshio Unaba

    中央大学経済研究所年報   ( 31 )   63 - 77   2000.3

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  • Chaotic dynamics in a flexible exchange rate system: A study of noise effects Reviewed

    T Asada, T Misawa, T Inaba

    DISCRETE DYNAMICS IN NATURE AND SOCIETY   4 ( 4 )   309 - 317   2000

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    In this paper, we investigate by means of analytical method and numerical simulations the properties of three-dimensional business cycle model, in which foreign exchange rate is flexible and a parameter is fluctuated by noise. The model is a discrete time version of Asada (Journal of Economics, 62, 239-269, 1995)'s continuous time open economy model without noise. We show (1) noise may suppress the burst of flexible foreign exchange rate when its behavior begins to burst as a bifurcation parameter (adjustment speed of the goods market) is increased, (2) the windows of cycles can be broken by noise, and (3) noise may reveal the hidden structures.

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  • A nonlinear macrodynamic model with fixed exchange rates: Its dynamics and noise effects Reviewed

    T Asada, T Inaba, T Misawa

    DISCRETE DYNAMICS IN NATURE AND SOCIETY   4 ( 4 )   319 - 331   2000

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    In this paper, we formulate a discrete time version of the Kaldorian macrodynamic model in a small open economy with fixed exchange rates. The model is described by a system of the three-dimensional nonlinear difference equations with and without stochastic disturbances (noise effects). We study the local stability/instability properties analytically by using the linear approximation method, and chaotic dynamics with and without noise effects are investigated by means of numerical simulations, In general, it is believed that the effect of the noise is to obscure the basic structure of the system. But, this is not necessarily the case. We show by means of numerical analysis that the noise can reveal the hidden structure of the model contrary to the usual intuition in some situations.

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  • Windows Implies Chaos while Chaos Implies Cycles

    Toichiro Asada, Akio Matsumoto, Toshio Inaba, Tetsuya Misawa

    NOLTA'99 Proceedings   2   539 - 542   1999.11

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  • Chaotic Dynamics of the Transportation Competition

    Akio Matsumoto, Toichiro Asada

    The Journal of Economics of Chuo University   39 ( 5 )   273 - 286   1999.3

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  • A Differential Game Approach to Transportation Competition

    Asada Toichiro

    The Journakl of Economics of Chuo University   39 ( 3・4 )   15 - 28   1999.2

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  • Investment and finance: A theoretical approach Reviewed

    T Asada

    ANNALS OF OPERATIONS RESEARCH   89   75 - 87   1999

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:BALTZER SCI PUBL BV  

    In this paper, we reconsider the theory of investment and finance with imperfect capital market from an analytical point of view. First, we present a simplified static model which integrates Keynes' approach to investment determination and Kalecki's approach to the "principle of increasing risk", and investigate the relationships between this model and Tobin's q theory. The second part of this paper tries to extend the basic model to the model of investment and finance in a truly dynamic environment by utilizing the analytical framework which was presented by Asada and Semmler [2].

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  • Nonlinear Business Cycle Model with Flexible Exchange Rates : Noise Effects on the Dynamics

    Toichiro Asada, Toshio Inaba, Toichiro Asada

    NOLTA'98, Proceedings   13   1209 - 1212   1998.9

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  • Investment, Finance, and Tobin's q : An Analytical Interpretation

    The Annal of the Institute of Economic Research Chuo University   ( 29 )   69 - 87   1998.3

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  • A Nonlinear Macrodynamic Model in an OpenEconomy : Numerical Simulations

    Toichiro Asada, Toshio Inaba, Tetsuya Misawa

    The Journal of Economics of Chuo University   38 ( 5・6 )   181 - 200   1998.3

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  • Endogenous growth and the balanced growth equilibrium Reviewed

    Toichiro Asada, Willi Semmler, Andreas J. Novak

    Research in Economics   52 ( 2 )   189 - 212   1998

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    This paper shows that the Romer (1990) Journal of Political Economy, 98, 71-102 model of endogenous growth, its version for the social planning problem, has a unique steady state and is saddle path stable. The steady state can be monotonically reached by an appropriate choice of the initial values of the control variables if the initial values of the state variables lie in the vicinity of the steady state. For the original version, as well as for generalizations of it, we demonstrate that Hopf bifurcation can be excluded. We also demonstrate that the market variant of the Romer model as, for example, presented in Benhabib, Peru and Xie (1994) Ricerche Economiche, 48, 279-298, does admit Hopf bifurcation and stable periodic solutions. The technique employed here may be useful in studying other variants of endogenous growth models. © 1998 Academic Press Limited.

    DOI: 10.1006/reec.1998.0163

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  • Nonlinear Business Cycle Model in an Open Economy : Noise Effects on the Dynamics

    Toichiro Asada, Toshio Inaba, Tetsuya Misawa

    NOLTA'97, Proceedings   1   505 - 508   1997.12

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  • On a Dynamic Model of the -Transportation Competition

    Asada Toichiro

    The Journal of Economics of Chuo University   38 ( 1・2 )   1 - 13   1997.7

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  • A Macrodynamic Model of Open Economy Reviewed

    N.Aoki, K.Shiraiwa, Y.Takahashi(eds.) Proceedings of the International Conference on Dynamical Systems and Chaos   1   359 - 362   1995.7

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  • Neo-Ricardian Rent Theory and Marx-Okishio-Morishima Theorem Invited

    T. Hirai and A. Noguchi (eds.) "Orthodoxy and Heterodoxy in Economics"   283 - 309   1995.4

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  • Kaleckian Business Cycle Model with Gestation Lag: A Simulation Analysis

    The Annal of the Institute of Economic Research Chuo University   ( 25 )   217 - 224   1995.3

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  • Kaldorian dynamics in an open economy Reviewed

    T Asada

    Journal of Economics / Zeitschrift fur Nationalokonomie, Springer, Vienna   62 ( 3 )   239 - 269   1995

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:SPRINGER-VERLAG WIEN  

    In this paper, we formulate a Kaldorian business-cycle model in a small open economy. We consider the possibility of capital mobility, and both the system of fixed exchange rates and that of flexible exchange rates are studied. We investigate how changes of the parameter which represents the ''degree of capital mobility'' affect the dynamic characteristics of the model. Some numerical simulations are performed based on the analytical model.

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  • Growth and finance: An intertemporal model Reviewed

    Toichiro Asada, Willi Semmler

    Journal of Macroeconomics   17 ( 4 )   623 - 649   1995

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Louisiana State University  

    Frequently, intertemporal models, for example, Uzawa's (1969) work on growth, are based on the separation of investment and the financing decisions of firms. Finance variables are disregarded. In contrast, along the lines of the theory of imperfect capital markets, the present paper allows for cross-effects between firms' financial structure and the value of firms. A steady-state analysis gives empirical predictions on the relation of investment, finance and debt, and Hopf-Bifurcation analysis establishes the possibility of cyclical paths. © 1995.

    DOI: 10.1016/0164-0704(95)80086-7

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  • Monetary Factors and Gestation Lag in a Kaleckian Model of the Business Cycle Invited

    W. Semmler(ed.) "Business Cycles : Theory and Empirical Methods"   289 - 310   1994.8

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  • A Keynes-Goodwin model of the business cycle Reviewed

    Reiner Franke, Toichiro Asada

    Journal of Economic Behavior and Organization   24 ( 3 )   273 - 295   1994

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    The paper puts forward a dynamic IS-LM model in four state variables representing real balances, inflation, income distribution, and a so-called state of confidence. Local (in)stability is characterized by (high) low interest elasticities of money demand. Also a Hopf bifurcation can be shown to exist. Freezing inflation and distribution makes a mathematical analysis of the main stability mechanisms in the outer regions possible. The global dynamics of the full system is studied by means of numerical simulations. It gives rise to unique and stable limit cycles. Lastly, a sensitivity analysis inquires into the impact of parameter changes on the main cycle features. © 1994.

    DOI: 10.1016/0167-2681(94)90037-X

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  • Macrodynamics of Closed and Open Economies

    ASADA Toichiro

    The Journal of Economics of Chuo University   34 ( 3 )   295 - 328   1993.10

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  • A Reconsideration of the Sraffian System : Some Generalizations and an Application to the Dynamic Model Invited

    Japanese Society for Post Keynesian Economics (ed.) "Dynamics of the Economy and Market-theoretical Foundation"   293 - 292   1992.6

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    Language:Japanese   Publishing type:Part of collection (book)   Publisher:Nihon Keizai Hyoron-sha, Tokyo  

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  • The Sraffian System and Theories of Distribution and Effective Demand: Some Applications

    Asada Toichiro

    The Economic Review of Komazawa University   23 ( 3 )   71 - 125   1991.12

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  • Lags in Policy Response and Macroeconomic Stability

    Asada Toichiro

    The Economic Review of Komazawa University   23 ( 1 )   31 - 38   1991.6

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  • On a Mixed Competitive-Monopolistic Macrodynamic Model in a Monetary Economy Reviewed

    T ASADA

    Journal of Economics / Zeitschrift fur Nationalokonomie, Springer, Vienna   54 ( 1 )   33 - 53   1991

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:SPRINGER-VERLAG WIEN  

    Web of Science

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  • Monetary Stabilization Policy in a Keynes-Goodwin Model of the Growth Cycle Invited Reviewed

    T ASADA

    W. Semmler (ed.) "Financial Dynamics and Business Cycle", M. E. Sharpe, New York   145 - 167   1989

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    Language:English   Publishing type:Research paper (international conference proceedings)   Publisher:M E SHARPE INC  

    Web of Science

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  • Multiple Activities, Differential Profit Rates and Fundamental Equations in Modern Capital Theory

    Asada Toichiro

    The Economic Review of Komazawa University   20 ( 1 )   1 - 19   1988.6

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  • Tobin's q Theory and Theory of Investment Function : A Survey

    Asada Toichiro

    The Economic Review of Komazawa University   19 ( 1・2 )   1 - 38   1987.10

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  • GOVERNMENT FINANCE AND WEALTH EFFECT IN A KALDORIAN CYCLE MODEL Reviewed

    T ASADA

    JOURNAL OF ECONOMICS-ZEITSCHRIFT FUR NATIONALOKONOMIE   47 ( 2 )   143 - 166   1987

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:SPRINGER-VERLAG WIEN  

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  • Money in Kaldorian Cycle Theory Reviewed

    Shigeo Akashi, Toichiro Asada

    The Economic Review (Institute of Economic Research, Hitotsubashi University)   37 ( 2 )   p169 - 177   1986.4

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Iwanami Shoten  

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    Other Link: http://hdl.handle.net/10086/22528

  • 内生的景気循環と政府 Invited

    時子山和彦・美濃口武雄・武隈愼一編『現代経済学の新展開』   141 - 156   1985.10

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  • The Role of Income Distribution in a Process of Cumulative Disequilibrium : From a Viewpoint of the Conflict Theory

    Asada Toichiro

    The Economic Review of Komawzawa University   16 ( 4 )   1 - 28   1985.3

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  • Goodwin's Growth Cycle Model and Monetary Stabilization Policy

    Asada Toichiro

    The Hitotsubashi Review   91 ( 3 )   53 - 76   1984.3

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    Language:Japanese   Publishing type:Research paper (bulletin of university, research institution)   Publisher:Nihon Hyoron-sha  

    DOI: 10.15057/11354

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    Other Link: http://hdl.handle.net/10086/11354

  • On a General Equilibrium Approach to Post Keynesian Growth Theory

    Asada Toichiro

    The Economic Review of Komazawa University   15 ( 1 )   51 - 80   1983.6

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  • On the Monotonicity and Continuity of the Wage-Profit Frontier in a 'Neo Austorian' Model

    Asada Toichiro

    The Hitotsubashi Review   89 ( 1 )   141 - 157   1983.1

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    Language:Japanese   Publishing type:Research paper (bulletin of university, research institution)   Publisher:Nihon Hyoron-sha  

    DOI: 10.15057/12981

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    Other Link: http://hdl.handle.net/10086/12981

  • Real Wage Rate, Rate of Profit and Rate of Exploitation in a Fixed Capital Economy Reviewed

    Economic Studies Quarterly   33 ( 1 )   55 - 66   1982.4

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    Language:Japanese   Publishing type:Research paper (scientific journal)   Publisher:Japanese Association of Economics and Econometrics  

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  • Essays on the Theory of Capital, Distribution and Growth

    1 - 98   1982.3

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    Language:English   Publishing type:Research paper (conference, symposium, etc.)  

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  • Increasing Risk and Robinsonian Investment Function

    The Hitotsubashi Review   5 ( 4 )   1 - 18   1981.3

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Graduate School of Economics, Hitotsubashi University  

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  • 消費者選択と転形問題 Invited

    経済評論   28 ( 8 )   1979.8

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  • 成長と分配の新ケインズ派モデル

    修士論文   1 - 270   1979.3

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    Language:Japanese   Publishing type:Master’s thesis   Publisher:一橋大学大学院経済学研究科  

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Books

  • Lectures on Basic Macroeconomics, Fourth Edition

    ( Role: Sole author1-276)

    Chuo Ke-zai-sha  2022.6 

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    Book type:Textbook, survey, introduction

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  • Basic Microeconomics (Second Edition)

    ( Role: Sole author1-354)

    Chuo Keizai Sha  2017.9 

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    Total pages:354   Responsible for pages:1-354   Language:Japanese   Book type:Textbook, survey, introduction

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  • Essays in Economic Dynamics : Theory, Simulation Analysis, and Methodological Study

    Co-editors, A. Matsumoto, F. Szidarovsky( Role: Edit145-162)

    Springer, Singapore  2016.10 

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    Total pages:258   Responsible for pages:145-162   Language:English   Book type:Scholarly book

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  • Lectures on Basic Macroeconomics, Third Edition

    ( Role: Sole author1-266)

    Chuo Keizai-sha  2016.4 

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    Total pages:274   Language:Japanese   Book type:Textbook, survey, introduction

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  • The Development of Economics in Japan : From the Inter-war Period to the 2000s

    ( Role: Edit1-10, 61-89, 155-206)

    Routledge  2014.1 

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    Total pages:212   Responsible for pages:1-10,61-89,155-206   Language:English   Book type:Scholarly book

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  • Learn from 'Keynes' in the Crisis

    Keynes Society Japan (e, T. Hirai( Role: Joint author15-67)

    Sakuhin-sha  2011.11 

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    Total pages:281   Responsible for pages:15-67   Language:Japanese   Book type:Scholarly book

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  • Asset Markets, Portfolio Choice and Macroeconomic Activity

    T. Asada, P. Flaschel, T. Mouakil, C. Proano( Role: Joint author1-208)

    Palgrave Macmillan, U. K.  2011.6 

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    Total pages:230   Language:English   Book type:Scholarly book

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  • Monetary Macrodynamics

    with C. Chiarella, P. Flaschel, R. Franke( Role: Joint author1-448)

    Routledge, London  2010.3 

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    Total pages:430   Language:English   Book type:Scholarly book

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  • 金融不安定性と景気循環

    W. ゼムラー 編( Role: Sole translator1-353)

    日本経済評論社  2007.7 

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    Total pages:353   Language:Japanese   Book type:Scholarly book

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  • Time and Space in Economics

    共編者, 石川利治( Role: Edit81-96)

    Springer  2007.1 

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    Total pages:314   Responsible for pages:81-96   Language:English   Book type:Scholarly book

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  • 21世紀の経営と経済

    共編者, 坂田幸繁, 薮田雅弘( Role: Edit1-3)

    中央大学出版部  2005.10 

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    Total pages:258   Language:Japanese   Book type:Scholarly book

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  • Lectures on Basic Macroeconomics, Second Edition

    ( Role: Sole author1-215)

    Chuo Keizai-sha  2005.4 

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    Total pages:223   Language:Japanese   Book type:Textbook, survey, introduction

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  • Open Economy Macrodynamics: An Integrated Disequilibrium Approach

    with C.Chiarella, P.Flaschel, R.Franke( Role: Joint author1-540)

    Springer Verlag(Berlin, Germany)  2003.4 

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    Total pages:540   Language:English   Book type:Scholarly book

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  • Lectures on Basic Microeconomics

    ( Role: Sole author1-333)

    Chuo Keizai-sha  2002.4 

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    Total pages:339   Language:Japanese   Book type:Textbook, survey, introduction

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  • Lectures on Basic Macroeconomics

    ( Role: Sole author1-207)

    Chuo Keizai-sha  1999.4 

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    Total pages:215   Language:Japanese   Book type:Textbook, survey, introduction

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  • 成長と循環のマクロ動学

    ( Role: Sole author1-366)

    日本経済評論社  1997.4 

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    Total pages:368   Language:Japanese   Book type:Scholarly book

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  • M.H.I.ドーア『景気循環のマクロダイナミクス』

    片岡晴雄, 橋本泰明, 稲葉敏夫, 小島照男( Role: Joint translator1-255)

    文化書房博文社  1995.7 

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  • M.H.ウォルフソン『金融恐慌』

    共訳者, 野下保利, 原田善教( Role: Joint translator1-43)

    日本経済評論社  1995.6 

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  • エコノミクックス(改訂版)

    共著者, 浅野克巳, 荒木勝啓( Role: Joint author277-389)

    成蹊堂  1995.4 

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    Total pages:405   Language:Japanese   Book type:Scholarly book

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  • H.P.ミンスキー『金融不安定性の経済学』

    共訳者, 吉野紀, 内田和男( Role: Joint translator115-273, 415-427)

    多賀出版  1989.12 

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  • エコノミックス

    共著者, 浅野克巳, 荒木勝啓( Role: Joint author)

    成蹊堂  1988.12 

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  • R.M.グッドウィン『線型経済学と動学理論』

    共訳者, 有賀裕二, 荒木勝啓, 坂直樹( Role: Joint translator43-106)

    日本経済評論社  1988.4 

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  • M.カレツキ『資本主義経済の動態理論』

    共訳者, 間宮陽介( Role: Joint translator1-93, 195-226)

    日本経済評論社  1984.12 

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MISC

  • Accelerate Keynesian Revolution! : Pragmatism of the Central Bank (Diglogue) Invited

    with Satoshi Fujii

    Hyogensha Criterion   ( 97 )   40 - 59   2021.7

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    Language:Japanese   Publishing type:Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media)   Publisher:Keibunsha  

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  • Anti-Austerity : Recommendation of Economic Growth by Means of Fiscal and Monetary Policy Mix Invited

    Financial Affairs Weekly   72 ( 12 )   18 - 21   2021.3

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    Language:Japanese   Publishing type:Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media)   Publisher:Kinzai  

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  • Reading the Annual Report on the Japanese Economy and Public Finance 2020 Invited

    Credit Union   75 ( 1 )   46 - 50   2020.1

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    Language:Japanese   Publishing type:Article, review, commentary, editorial, etc. (other)   Publisher:National Credit Union Association  

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  • Hajime Hori, Business Cycle Dynamics and Stabilization Policies : A Keynesian Approach, Singapore, Springer, 2017, pp. xiii+142 Invited

    Review of Keynesian Studies   1   169 - 174   2019.11

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    Language:English   Publishing type:Book review, literature introduction, etc.   Publisher:The Keynes Society Japan  

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  • Reading the Annual Report on the Japanese Economy and Public Finance 2019 Invited

    Credit Union   73 ( 10 )   32 - 36   2019.10

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  • Book Review on L. Randall Wray, "Why Minsky Matters : An Introduction to the Work of a Maverick Economist", Princeton : Princeton University Press, 2016 Invited

    The History of Economic Thought   61 ( 1 )   135 - 136   2019.7

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    Language:English   Publishing type:Book review, literature introduction, etc.   Publisher:The Japanese Society of the History of Economic Thought  

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  • 「ポリシーミックス」で一気に成長軌道に押し上げよ:ケインズ経済学の理論的根拠から Invited

    別冊クライテリオン「消費税を凍結せよ」   161 - 167   2018.12

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    Language:Japanese   Publisher:啓文社  

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  • Michio Morishima(1923-2004) Invited Reviewed

    G. Faccarello and H. Kurz(eds.) "Handbook on the History of Economic Analysis"   Volume I   712 - 713   2016.9

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  • Takashi Negishi(b.1933) Invited Reviewed

    G. Faccarello and H. Kurz(eds.) "Handbook on the History of Economic Analysis"   Volume I   725 - 727   2016.9

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  • Achievements and Problems of Abenomics

    Chuo Online   1 - 3   2016.6

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  • Essays in economic dynamics: Theory, simulation analysis, and methodological study

    Akio Matsumoto, Ferenc Szidarovszky, Toichiro Asada

    Essays in Economic Dynamics: Theory, Simulation Analysis, and Methodological Study   1 - 258   2016.1

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    Language:English   Publisher:Springer Singapore  

    This book reflects the state of the art in nonlinear economic dynamics, providing a broad overview of dynamic economic models at different levels. The wide variety of approaches ranges from theoretical and simulation analysis to methodological study. In particular, it examines the local and global asymptotical behavior of both macro- and micro- level mathematical models, theoretically as well as using simulation. It also focuses on systems with one or more time delays for which new methodology has to be developed to investigate their asymptotic properties. The book offers a comprehensive summary of the existing methodology with extensions to the more complex model variants, since considerations on bounded rationality of complex economic behavior provide the foundation underlying choice-theoretic and policy-oriented studies of macro behavior, which impact the real macro economy. It includes 13 chapters addressing traditional models such as monopoly, duopoly and oligopoly in microeconomics and Keynesian, Goodwinian, and Kaldor-Kaleckian models in macroeconomics. Each chapter presents new aspects of these traditional models that have never been seen before. This work renews the past wisdom and reveals tomorrow’s knowledge.

    DOI: 10.1007/978-981-10-1521-2

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  • Preface

    Akio Matsumoto, Ferenc Szidarovszky, Toichiro Asada

    Essays in Economic Dynamics: Theory, Simulation Analysis, and Methodological Study   v - vi   2016.1

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    DOI: 10.1007/978-981-10-1521-2

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  • A Note on the 'Variety of Economics' : In Relation to the Controversy on Deflation and Monetary Policy in Japan Invited

    八木紀一郎(代表)・有賀裕二・大坂洋・大西広・吉田雅明編「経済学と経済教育の未来:日本学術会議[参照基準]を超えて」   145 - 167   2015.4

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    Language:Japanese   Publisher:Sakurai Shoten  

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  • On Abenomics : From the Viewpoint of an Economizst Invited

    Report of Research Institute of Economic Science   ( 40 )   27 - 48   2015.3

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    CiNii Books

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  • Cyclical Fluctuations in Dynamic Optimization Models (Macro-economics and Nonlinear Dynamics)

    Asada Toichiro

    RIMS Kokyuroku   1899   78 - 90   2014.5

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    Other Link: http://hdl.handle.net/2433/195903

  • 温経知世 : 経済学者の思想と理論(vol.75)ワシリー・レオンチェフ Wassily Leontief 1905?-1999 現代経済学に大貢献した産業連関分析

    浅田 統一郎

    エコノミスト   91 ( 15 )   58 - 59   2013.4

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  • 学者に聞け! 視点争点 適度なインフレで雇用・所得は増加

    浅田 統一郎

    エコノミスト   91 ( 13 )   56 - 57   2013.3

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  • リジョインダー (日本の長期不況とマクロ経済政策 : 吉川洋・小野善康両氏の見解を踏まえて)

    浅田 統一郎

    専修大学社会科学研究所月報   ( 595 )   26 - 29   2013.1

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    Language:Japanese   Publishing type:Meeting report   Publisher:専修大学社会科学研究所  

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  • Long Period Depression in Japan and Macroeconomic Policy

    with G. Kataoka, R. Kuroki, Y. Noshita, A. Noguchi

    Monthly Review of the Institute of Study of Social Sciences, Senshu University, Tokyo, Japan   ( 595 )   1 - 40   2013.1

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  • Economic Basis for the Monetary Policy of the New Administration of President Abe

    Chuo Online   1 - 4   2012.12

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  • Overcominc Deflation is the Solution for Accumulated Government Bonds

    Chuo Online   1 - 2   2012.5

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  • Japan Invited

    Toichiro Asada

    The Elgar Companion to Post Keynesian Economics, Second Edition   325 - 326   2012

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    DOI: 10.4337/9781849803182.00069

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  • Reading Books on Disaster Recovery : Centered on the Nuclear Power Issue and the Financial Issue of Funding Reconstruction

    Chuo Online   1 - 3   2011.9

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  • Modelling Financial Instability : On a Formulation of Minsky'd Idea Invited

    M. Aoki, H. Aoyama, Y. Aruka and H. Yoshikawa (eds.) "What is Socio-Econophysics?"   168 - 179   2011.5

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  • Mathematics of Predator and Prey : Applications of Lotka-Volterra Equation Invited

    M. Aoki, H. Aoyama, Y. Aruka and H. Yoshikawa (eds.( "What is Socio-Econophysics?"   58 - 67   2011.5

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  • Asset markets, portfolio choice and macroeconomic activity: A Keynesian perspective

    Toichiro Asada, Peter Flaschel, Tarik Mouakil, Christian Proaño

    Asset Markets, Portfolio Choice and Macroeconomic Activity: A Keynesian Perspective   1 - 230   2011.1

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    Language:English   Publisher:Palgrave Macmillan  

    This book extends the KMG framework (Keynes, Meltzer, Goodwin) and focuses on financial issues. It integrates Tobin's macroeconomic portfolio approach and emphasizes the issue of stock-flow consistency.

    DOI: 10.1057/9780230307773

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  • Money in Economic Analysis Invited

    Encyclopedia of Life Support Systems(EOLSS)   Economics ( Mathematical Models )   39   2007.4

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    Language:English   Publishing type:Article, review, commentary, editorial, etc. (other)   Publisher:UNESCO-EOLSS  

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  • 実践的経済学用語集 Invited

    荒木勝彦, 齊藤正

    経済セミナー   1 - 15   1989.4

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    Language:Japanese   Publishing type:Article, review, commentary, editorial, etc. (other)   Publisher:日本評論社  

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  • 経済辞典 新版 Invited

    金森久雄, 荒憲治郎, 森口親司

    経済辞典 新版   非公表 - 非公表   1986.9

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  • 経済成長と所得分配 Invited

    浅野栄一・森義隆編『現代経済学講義』   174 - 201   1986.4

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    Language:Japanese   Publishing type:Article, review, commentary, editorial, etc. (other)   Publisher:新評論  

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  • 高橋泰蔵・増田四郎編『体系経済学辞典 第6版』 Invited

    体系経済学辞典 第6版   非公表 - 非公表   1984.11

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    Language:Japanese   Publishing type:Article, review, commentary, editorial, etc. (other)   Publisher:東洋経済新報社  

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Presentations

  • Coordinated Fiscal and Monetary Stabilization Policy in the Manner of MMT: A Study by Means of Dynamic Keynesian Model Invited

    Annual Meeting of The Keynes Society Japan 2020  ( Internet Conference )   2020.12  The Keynes Society Japan

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    Language:Japanese   Presentation type:Oral presentation (general)  

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  • Business Cycles and Government Bond Purchase by Central Banks in Monetary Union International conference

    with Masato Nakao

    NED 2019 (Conference on Nonlinear Economic Dynamics)  ( Kiev, Ukraine )   2019.9  Committee of NED 2019

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  • On Dynamics of a Three-country Kaldorian Model of Business Cycles with Fixed Exchange Rate International conference

    with Rudolf Zimka

    NED 2019(Conference on Nonlinear Economic Dynamics)  ( Kiev, Ukraine )   2019.9  Committee of NED 2019

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  • Inflation-deflation Expectations and Economic Stability in a Kaleckian System

    Hiroki Murakami

    14th Viennese Conference on Optimal Control and Dynamic Games (Vienna University of Technology, Vienna, Austria)  2018.7 

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  • On Dynamics of a Three-country Kaldorian Model of Busdiness Cycles with Fixed Exchange Rate System

    T. Inaba

    10th NED - 1st CICSE Workshop, 2017 (University of Pisa, Italy)  2017.9 

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  • On Dynamics in a Keynesian Model of Monetary and Fiscal Stabilization Policy Mix with Twin Debt Accumulation

    R. Zimka, M. Demetrian

    10th NED - 1st CICSE Workshop, 2017 (University of Pisa, Italy)  2017.9 

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  • The Inequality r>g is Not Necessary Nor Sufficient Condition for Expanding Inequality : A Critical Examination of Piketty's Proposition

    Japanese Association for Applied Economics(At Mita Campus, Keio University, Tokyo)  2016.11 

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  • On Dynamics of Asada's Model of Monetary Stabilization Policy

    R. Zimka, R. Demetrian

    MDEF2016(Dynamic Models in Economics and Finance), Urbino University, Italy  2016.6 

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  • The Effects of Fiscal and Monetary Policies in a Two Country Mundell-Fleming Model Under Flexible Exchange Rates : The Case of Imperfect Capital Movement

    Keynes Society Japan  2015.11 

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  • The Stability of Normal Equilibrium Point and the Existence of Limit Cycles in a Simple Keynesian Macrodynamic Model of Monetary Policy

    Michal Demetrian, Rudolf Zimka

    NED2015(The 9th International Conference on Nonlinear Economic Dynamics)(Chuo University, Tokyo)  2015.6 

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  • Mathematical Modeling of Financial Instability and Macroeconomic Stabilization Policies (Smolenice, Slovakia)

    18th International Conference on Mathematical Methods in Economy and Industry  2014.9 

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  • Central Banking and Deflationary Depression : A Japanese Perspective

    Lecture held at Matej Bel University, Banska Bystrica, Slovakia  2014.9 

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  • Fiscal and Monetary Policies in a Keynesian Model of Endogenous Growth Cycle with Public Debt Accumulation

    Masahiro Ouchi

    NED 2013 Dedicated to the Memory of Richard Goodwin in the Centennial of His Birth(Siena University, Italy)  2013.7 

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  • Modeling Financial Instability

    Conference "From Crisis to Growth? The Challange of Imbalances, Debt, and Limited Resources", Berlin, Germany  2011.10 

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  • Fiscal and Monetary Policies in a Keynesian Model of Endogenous Growth Cycle with Public Debt Accumulation

    Masahiro Ouchi

    VIIIth International Colloquium on Growth, Structural Change and Institutions, Galway, Ireland  2011.5 

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  • Macrodynamics of Public Debt Accumulation and Fiscal and Monetary Policies : On Inappropriate Policy Mix

    Japan Society of Monetary Economics (at Meiji University)  2011.5 

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  • Central Banking and Deflationary Depression : A Japanese Perspective

    Japan Society of Monetary Economics (at Kobe University)  2010.9 

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  • Numerical Exploration of Kaldorian Interregional Macrodynamics : Enhanced Stability and Predominance of Period Doubling Under Flexible Exchange Rates

    Collaborator, C. Douskos, V. Kalantonis, P. Markellos

    MATHMOD VIENNA 09 (6th Vienna Conference on Mathematical Modelling)/Vienna University of Technology  2009.2 

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  • 非線形動学における共進化

    進化経済学会オータムコンファレンス,進化経済学会  2008.9 

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  • 流動性の罠の下でのインフレーション・ターゲティング

    日本経済学会2006年度秋季大会  2006.10 

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  • A Macrodynamic Model with Debt Effect

    NOLTA2006(2006 International Symposium on Nonlinear Theory and Its Applications)  2006.9 

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  • Stabilization Policy in a Keynes-Goodwin Model with Debt Accumulation

    EAEPE(European Association for Evolutionary Political Economy), Bremen, Germany  2005.11 

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  • Inflation Targeting Policy in a Dynamic Keynesian Model with Debt Accumulation

    ACE 2004(Australian Conference of Rconomists 2004), Sydney, Australia  2004.9 

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  • A Two-Regional Model of Business Cycles with Fixed Exchange Rates

    日本地域学会第40回年次大会  2003.11 

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  • A Two-Regional Model of Business Cycles with Fixed Exchange Rates

    8'th Vinnese Workshop on Optimal Control, Dynamic Games, and Adaptive Economic Systems  2003.5 

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  • Dynamic Analysis of Policy Lag

    DCDN3(3rd International Conference on Discrete Chaotic Dynamics in Nature and Society)  2002.9 

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  • Coefficient Criterlon for Four-dimensional Hopf Bifurcations

    Conference on Complex Economic Phenomena in Time and Space  2002.8 

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  • Price Flexibility and Instability in a Macrodynamic Model with a Debt Effect

    6'th International Conference on Macroeconomic Analysis and International Finance  2002.5 

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  • Limit Pricing and Entry Dynamics with Heterogeneous Firms

    WEHIA2002(Workshop on Economics with Heterogeneous Interacting Agents)  2002.5 

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  • An Interregional Dynamic Model

    日本地域学会第37回年次大会,日本地域学会  2000.11 

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  • Nonlinear Dynamics of Policy Lag in simple Macroeconomic Models

    NOLTA2000 (2000 International Symposium on Nonlinear Theory and Its Applications)/NOLTA  2000.9 

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  • Nonlinear Economic Dynamics in a Two-Country Model with Fixed Exchange Rates

    NOLTA2000 (2000 International Symposium on Nonlinear Theory and Its Applications)/NOLTA  2000.9 

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  • An Interregional Dynamic Model

    DCDNS2 (Second International Conference on Discrete Chaotic Dynamics in Nature and Society)  2000.5 

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  • Stability, Instability and Complex Behavior in Macrodynamic Models with Policy Lag

    DCDNS2 (Second International Conference on Discrete Chaotic Dynamics in Nature and Society)  2000.5 

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  • Debt Effect and Macroeconomic Instability

    進化経済学会東京大会,進化経済学会  2000.3 

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  • 負債効果とマクロ経済の不安定性

    日本金融学会秋季大会,日本金融学会  1999.10 

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  • Chaotic Dynamics in a Flexible Exchange Rete System : A Study of Noise Effects

    PRSCO16 (The 16th Pacific Regional Science Conference)  1999.7 

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  • A Nonlinear Macrodynamic Model with Fixed Exchange Rates : Its Dynamics and Noise Effects

    DCDNS1 (First International Conference on Discrete Chaotic Dynamics in Nature and Society)  1998.10 

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  • A Differential Game Approach to Transportation Competition

    11th European Advanced Studies Institute in Regional Science  1998.8 

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  • Nonlinear Business Cycle Model in an Open Economy : Noise Effects on the Dynamics

    NOLTA'97 (1997 International Symposium on Nonlinear Theory and Its Applications)/NOLTA  1997.12 

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  • Investment, Finance, and Tobin's q : An Analytical Interpretation

    6th Viennese Workshop on Optimal Control, Dynamic Games, Nonlinear Dynamics and Adaptive Systems  1997.5 

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  • Kaldorian Dynamics in an Open Economy

    理論・計量経済学会全国大会,理論・計量経済学会  1996.9 

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  • On a Dynamic Model of the Transportation Competition

    5th World Congress/RSAI(Regional Science Association International)  1996.5 

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  • ネオ・リカーディアンの地代理論について

    経済史学会(於:西南学院大学)  1995.10 

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  • Kaldorian Dynamics in an Open Economy

    Eastern Economic Association 21st Annual Convention(New York)  1995.3 

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  • A Keynes-Goodwin Model of the Business Cycle

    共同報告者, R.Franke

    理論・計量経済学会(於:南山大学)  1994.9 

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  • Kaldorian Dynamics in an Open Economy

    International Conference on Dynamical Systems and Chaos  1994.5 

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  • On a Mixed Competitive-Monopolistic Macrodynamic Model in a Monetary Economy

    理論・計量経済学会(於:北海道大学)  1991.9 

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  • The Sraffian and Effective Demand: Some Applications

    Allied Social Science Associations(Washington D.C., U.S.A.)  1990.12 

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  • Lags in Policy Response and Macroeconomic Stability

    Allied Social Science Associations(Atlanta, U.S.A.)  1989.12 

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  • Stabilization Policy in a Kaldorian Cycle Model

    Conference on Economic Dynamics and Financial Instability(New School for Social Research, New York, U.S.A.)  1987.4 

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  • 内生的景気循環と政府

    理論・計量経済学会(於:東北大学)  1985.9 

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  • A Simple Model of Cyclical Monetary Growth

    共同報告者, 明石茂生

    理論・計量経済学会(於:京都産業大学)  1982.10 

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  • On a General Equilibrium Approach to Post Keynesian Growth Theory

    理論・計量経済学会(於:横浜国立大学)  1981.10 

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Research Projects

  • Multi-factor Productivity and Evolutionary Accounting in Presence of (Persistently) Heterogeneous Firms

    Grant number:18F18759  2018.10 - 2021.3

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for JSPS Fellows  Chuo University

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    Grant amount: \2200000 ( Direct Cost: \2200000 )

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  • A study on system design of the monetary policy

    Grant number:20530160  2008 - 2010

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)  Nishogakusha University

    WATANABE Kazunori, ASADA Toichiro, KUROKI Ryuzo, NOSHITA Yasutoshi, ISHIKURA Masao, WATANABE Yoshio, YAGI Takashi, KASAMATSU Mabu, YAMADA Yukitoshi, TABATA Katsushi, KUROSE Kazuhiro

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    Grant amount: \3770000 ( Direct Cost: \2900000 、 Indirect Cost: \870000 )

    Th study squad of Theory of the Financial Dynamics (K.Watanabe, T.Asada, R.Kuroki) built a financial dynamic model to include inflation rate, an exchange rate and analyzed the policy effects using comparison dynamics analysis and calibration. The study squad of Historic Proof Analysis of the Financial System(M.Ishikura, Y.Watanabe, Y.Noshita) analyzed the causes and effects of the financial panic that happened in the United States in 2007 and enlarged worldwide by the method of the historic proof analysis and examined possibility of the rebuilding of the international monetary system. The study squad of Theory of the Monetary Policy and the Income Distribution(T.Yagi, Y.Yamada, M.Kasamatsu) examined a wage-profit relation in Sraffa's model and tried to develop Sraffa's model. Moreover, it examined the handling of value-added production of banks in the SNA system and considered how banks had been adopted form a point of view of input-output relation..
    We received the scientific research funds arts and science books furtherance in 2011, and the results of our research are settled in Monetary Policy and Income distribution(Nihonkeizai hyoronsha, 2011).

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  • Economic Reseach on Global Environmental Problems

    Grant number:12630019  2000 - 2002

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)  CHUO UNIVERSITY

    MATSUMOTO Akio, INABA Toshio, YOKOYAMA Akira, ANIKA Yuji, MISAWA Tetsuya

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    Grant amount: \2800000 ( Direct Cost: \2800000 )

    The study constrocts multi-dimensional nonlinear dynamic economic models that are useful for considering the long-run dynamic phenomenon observed in not only economics but also other areas such as ecology, biology, global warming, etc.
    This study has three parts. The first part investigates an economic implication of chaotic fluctuations that are observed in a nonlinear economic dynamic model. To this end, it constructs a nonlinear discrete time Cournot duopoly model in which firms have U-shaped or inverted U-shaped reaction functions due to production externality and shows that chaotic output fluctuations can arise for strong nonlinearities. Two main results are the following: (1) it is theoretically as well as numerically confirmed that one of the duopolists can benefit in the sense that the long-run average profit taken along a chaotic trajectory is higher than the profit taken at an equilibrium point, while the rival is disadvantaged if both duopolists are homogeneous; (2) is it verified with numerical simulations that both duopolists can benefit from chaotic trajectories if they are heterogeneous.
    The second part of this study focuses on the stable fixed point and derives the particular analytic solutions, as well as general solutions of the Cournot adjustment process of output. Since there are, in general, difficulties in finding analytical solutions in a discrete time system, it is worthwhile to present the existence conditions for analytical solutions.
    The last part constructs a two (agricultural and manufactured) sector general equilibrium model and studies the dynamic path of the economy and the global temperatures. It is numerically demonstrated that the dynamic interaction between the stable climate system and the stable market adjustment process can generate various dynamics ranging from periodic cycle to chaotic fluctuations

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  • Study of Economic Fluctuations Using the Method of Nonlinear Dynamics

    Grant number:11630020  1999 - 2001

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (C)  Waseda University

    INABA Toshio, TANAKA Hisanori, WARAGAI Tomoki, SASAKURA Kazuyuki, MISAWA Tetsuya, MATSUMOTO Akio

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    Grant amount: \2400000 ( Direct Cost: \2400000 )

    (1) One Dimensional Models
    Chaos occurs in a nonlinear cobweb model with normal demand and supply, naive expectations and adaptive production adjustment. We demonstrates the possibility that chaotic fluctuations may be preferable to a steady state for a simple macro disequilibrium model in which inventory can be chaotically fluctuated.
    (2) High Dimensional Models
    We investigate the global dynamics of two-dimensional Diamond-type overlapping generations model extended to allow for government intervention. We identify conditions under which transverse homoclinic points to the golden rule steady state are generated. We examine by mean of analytical method and numerical simulations the properties of three-dimensional Kaldor-type business cycle models in which a parameter is fluctuated by noise. It is shown that noise may not obscure the underling structures, but also reveal the hidden structures.
    (3) New Numerical Approximation Schemes
    Composition methods for autonomous stochastic differential equations (SDEs) are formulated to produce numerical approximation schemes for the equations. The new schemes are advantageous to preserve the special character of SDEs numerically and are useful for approximations of the solutions to stochastic nonlinear equations
    (4) Alternative Approaches and Models
    We investigate various alternative approaches and models. For example, percolation theory is employed to model stock price fluctuations.

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  • A new movement in environmental economics

    Grant number:11303001  1999 - 2001

    Japan Society for the Promotion of Science  Grants-in-Aid for Scientific Research  Grant-in-Aid for Scientific Research (A)  CHUO UNIVERSITY

    UZAWA Hirofumi, KOGUCHI Yoshiaki, OGATA Toshio, MATSUMOTO Akio, MUROTA Takeshi, TANAKA Horoshige

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    Grant amount: \41810000 ( Direct Cost: \37400000 、 Indirect Cost: \4410000 )

    1. Joint research with Joseph Stiglitz, George Akerlof, Steve Goldman, and Kenneth Arrow at the World Bank, University of California Berkley, and Stanford University for creating Japanese Model of "the World Bank Global Warming Econometric Model".
    2. Joint research with Karl-Goran Maler, Partha Dasgupta, Kenneth Arrow, Robert Solow at the Beijer International Institute of Ecological Economics. Engaged in final drafting for "Global Warming and Economic Theory". Remedied problems of the Kyoto Protocol and created a substitute plan.
    3. Held "the first CRUGE International Symposium inviting John Dolan.
    4. Held "CRUGE Public Lecture" inviting Leonid Hurwicz.
    5. Held "the second CRUGE International Symposium" inviting Karl-Golan Maler, Partha Dasgupta, and Warvick Mckibbin.
    6.Held "the Asia Global Environment Forum" twice, inviting researchers and government officials from the Indochinese peninsula.
    (1) Theme of the first forum "Indochina's Ecosystems and Economic Development : the transition from war to peace".
    (2) Theme of the second forum "Social Development and Environmental Cooperation in Asia."
    7.Participated in COP6 and COP7 and exchanged information with overseas scholars and other participants.
    8.Participated in international conferences at the U.S, and Italy. Talked about an academic paper on nonlinear dynamics.
    9.Visited countries in the Indochinese peninsula and asked cooperation for "the Asia Global Environment Forum".

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Allotted class

  • 2024   Introductory Macroeconomics   Department

  • 2024   Introductory Microeconomics   Department

  • 2024   Seminar 2   Department

  • 2024   Seminar Thesis   Department

  • 2024   Macro DynamicsⅠ   Graduate school

  • 2024   Macro DynamicsⅡ   Graduate school

  • 2024   Seminar Ⅰ(Macro Dynamics)   Graduate school

  • 2024   Seminar Ⅱ(Macro Dynamics)   Graduate school

  • 2024   Theory of Economics   Graduate school

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Committee Memberships

  • 2011.5 - 2023.5

    中央大学   評議員  

  • 2018.5 - 2019.12

    中央大学   学長補佐  

  • 2015.4 - 2018.3

    中央大学   経済研究所長  

  • 2011.4 - 2013.3

    中央大学   入試管理委員会委員長  

  • 2004.11 - 2007.10

    中央大学   経済学部長補佐