Updated on 2024/07/30

写真a

 
MURAKAMI Hiroki
 
Organization
Faculty of Economics Associate Professor
Other responsible organization
Economics Course of Graduate School of Economics, Master's Program
Contact information
The inquiry by e-mail is 《here》
Homepage
https://sites.google.com/g.chuo-u.ac.jp/hiroki-murakami
External link

Degree

  • Ph.D. in Economics ( The University of Tokyo )

  • M.A. in Economics ( The University of Tokyo )

Education

  • 2016.3
     

    The University of Tokyo   Graduate School of Economics   doctor course   completed

  • 2014.3
     

    The University of Tokyo   Graduate School of Economics   master course   completed

  • 2012.3
     

    The University of Tokyo   Faculty of Economics   graduated

  • 2010.3
     

    The University of Tokyo   College of Arts and Sciences   completed

Research History

  • 2019.4 - Now

    Chuo University   Faculty of Economics   Associate Professor

  • 2017.4 - 2019.3

    Chuo University   Faculty of Economics   Assistant Professor

  • 2016.4 - 2017.3

    Japan Society for the Promotion of Science   Research Fellow (PD)

  • 2016.4 - 2016.9

    Nihon University   Department of Economics   Part-time Lecturer

  • 2014.4 - 2016.3

    Japan Society for the Promotion of Science   Research Fellow (DC1)

Professional Memberships

  • 2016.9 - Now

    Japan Association for Evolutionary Economics

  • 2015.1 - Now

    Japan Society of Political Economy

  • 2014.6 - Now

    Japanese Economic Association

Research Interests

  • Keynesian Economics

  • Macroeconomics

Research Areas

  • Humanities & Social Sciences / Economic theory  / Economic Theory

Papers

  • Product life cycles, product innovation and firm growth Reviewed

    Hiroki Murakami

    Annals of Operations Research   337 ( 3 )   873 - 890   2024.6

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    Language：English   Publishing type：Research paper (scientific journal)   Publisher：Springer Science and Business Media LLC  

    Abstract

    This paper studies research and development (R &D) for product innovation of firms faced with “product life cycles.” We represent the concept of product life cycles with bounded revenue and profit functions and describe R &D for product innovation as an activity to control the “birth rate of a new product” (i.e., the probability of product innovation). We then derive the optimal level of R &D, corresponding to the optimal birth rate of a new product, and show that the growth rate of the firm’s expected total revenue converges to the optimal birth rate of a new product in the long run.

    DOI： 10.1007/s10479-023-05605-x

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    Other Link： https://link.springer.com/article/10.1007/s10479-023-05605-x/fulltext.html

  • On growth cycles in a stochastic post-Keynesian model Reviewed

    Hiroki Murakami

    Communications in Nonlinear Science and Numerical Simulation   118   106995   2023.4

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

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  • Keynesian and classical theories: static and dynamic perspctives Invited Reviewed

    hiroki Murakami

    Evolutionary and Institutional Economics Review   19 ( 1 )   343 - 367   2022.4

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

    DOI： 10.1007/s40844-021-00205-5

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  • The unique limit cycle in post Keynesian theory Reviewed

    Hiroki Murakami

    Chaos, Solitons and Fractals   154   111597   2022.1

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

    DOI： 10.1016/j.chaos.2021.111597

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  • On dynamics in a medium-term Keynesian model Reviewed

    Hiroki Murakami, Rudolf Zimka

    Discrete and Continuous Dynamical Systems - Series B   26 ( 11 )   5925 - 5940   2021.11

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    Language：English   Publishing type：Research paper (scientific journal)   Publisher：American Institute of Mathematical Sciences  

    DOI： 10.3934/dcdsb.2021145

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  • Corrigendum to “Existence and uniqueness of growth cycles in post Keynesian systems” Reviewed

    Hiroki Murakami

    Economic Modelling   100   105506   2021.7

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

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  • Use of differential equations in the theory of business cycles

    Hiroki Murakami

    Journal of Economics (Chuo University)   61 ( 5,6 )   267 - 290   2021.3

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

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  • Economic development with accumulation of public capital: The crucial role of wage flexibility on business cycles Reviewed

    Hiroki Murakami, Hiroaki Sasaki

    Economic Modelling   93   299 - 309   2020.12

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

    DOI： 10.1016/j.econmod.2020.08.005

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  • A note on foundations of macroeconomics

    Hiroki Murakami

    Annual Report of the Institute of Economic Research (Chuo University)   52   261 - 283   2020.9

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

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  • Monetary policy in the unique growth cycle of post Keynesian systems Reviewed

    Hiroki Murakami

    Structural Change and Economic Dynamics   52   39 - 49   2020.3

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

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  • On dynamics in a two-sector Keynesian model of business cycles Reviewed

    Hiroki Murakami, Rudolf Zimka

    Chaos, Solitons and Fractals   130   109419   2020.1

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    Language：Japanese   Publishing type：Research paper (scientific journal)   Publisher：Elsevier  

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  • A note on the "unique" business cycle in the Keynesian theory Reviewed

    Hiroki Murakami

    Metroeconomica   70 ( 3 )   384 - 404   2019.7

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

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  • Existence and uniqueness of growth cycles in post Keynesian systems Reviewed

    Hiroki Murakami

    Economic Modelling   75   293 - 304   2018.11

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  • Determination Mechanism of Income Distribution Invited

    Hiroki Murakami

    Political Economy Quarterly   55 ( 2 )   26 - 32   2018.7

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    Language：Japanese   Publishing type：Research paper (scientific journal)   Publisher：Sakurai Shoten Publisher  

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  • Inflation-deflation expectations and economic stability in a Kaleckian system Reviewed

    Hiroki Murakami, Toichiro Asada

    Journal of Economic Dynamics and Control   92   183 - 201   2018.7

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

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  • A two-sector Keynesian model of business cycles Reviewed

    Hiroki Murakami

    Metroeconomica   69 ( 2 )   444 - 472   2018.5

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

    In this paper, we examine the effect of sectoral interactions on business cycles in a simple Keynesian model. As a first step for introducing viewpoints of multiple sectors in the context of business cycles, we consider a dual economy in which there are only two kinds of goods: the consumption good and the investment good. By examining a two-sector Keynesian model, we intend to take a look at some phenomena induced by interactions between the consumption good sector and the investment good sector, which cannot be observed in one-sector models. We then find that the stability of equilibrium and the possibility of emergence of a periodic orbit depend on whether the Keynesian stability condition holds or not and that along periodic orbits (business cycles), the consumption good sector lags behind the investment good sector and that the volatility (measured by the ratio of the amplitude of cycles to the equilibrium value) of the investment sector is larger than that of the consumption good sector. Also, we supplement the analysis by performing numerical simulations.

    DOI： 10.1111/meca.12195

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  • Aggregate implications of lumpy investment under heterogeneity and uncertainty: a model of collective behavior Reviewed

    Yoshiyuki Arata, Yosuke Kimura, Hiroki Murakami

    Evolutionary and Institutional Economics Review   14 ( 2 )   311 - 333   2017.12

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

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  • Economic growth with demand saturation and "endogenous" demand creation Reviewed

    Hiroki Murakami

    Metroeconomica   68 ( 4 )   966 - 985   2017.11

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

    In this article, we present a model of economic growth through demand creation in the face of demand saturation, by representing demand saturation by an S-shaped logistic function and reckoning the firm's R&D as an activity to determine the probability of product innovation, that is, of demand creation. By defining the parameter of birth rate of a new product as the probability that a new product is derived from an existing one and identifying the time path of this parameter with the firm's R&D plan, we derive the optimal R&D plan and examine the growth rate of the firm's expected total revenue along this optimal plan. We then find that the optimal birth rate of a new product is influenced positively by the speed of diffusion of demand and the initial level of demand but negatively by the unit cost of production and the interest rate and that the growth rate of the firm converges to the optimal birth rate of a new product.

    DOI： 10.1111/meca.12159

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  • Time elements and oscillatory fluctuations in the Keynesian macroeconomic system Reviewed

    Hiroki Murakami

    Studies in Nonlinear Dynamics and Econometrics   21 ( 2 )   1 - 22   2017.4

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    Language：English   Publishing type：Research paper (scientific journal)   Publisher：WALTER DE GRUYTER GMBH  

    In this paper, we discuss the relationship between three time lags (the consumption lag, the investment decision lag and the gestation lag) and oscillatory economic fluctuations in the Keynesian IS-LM system. We first confirm that in the absence of time lags, the monotone convergence to the unique equilibrium is observed. Next, we demonstrate that, in the Keynesian IS-LM system, in the existence of the investment decision lag and the gestation lag, oscillatory fluctuations are generated around the equilibrium if the gestation lag is relatively long, while in the existence of the consumption lag and the gestation lag, oscillatory behaviors may not occur. We then conclude that the existence of time lags may be one of the major causes of oscillatory fluctuations.

    DOI： 10.1515/snde-2015-0052

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  • Alternative monetary policies and economic stability in a medium-term Keynesian model Reviewed

    Hiroki Murakami

    Evolutionary and Institutional Economics Review   13 ( 2 )   323 - 362   2016.12

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

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  • Wage flexibility and economic stability in a non-Walrasian model of economic growth Reviewed

    Hiroki Murakami

    Structural Change and Economic Dynamics   32   25 - 41   2015.3

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

    In this paper, we set up a model of economic growth which deals with Keynesian unemployment, from non-Walrasian/Keynesian perspectives, investigate the possibility of persistent "growth cycles" generated and analyze the effects of flexibility of (real) wages on the long-run economic stability. Consequently, we reach the conclusion that flexibility of wages has an adverse effect on the macroeconomic stability and that reductions of wages have negative impacts on the attainment of "full-employment." (C) 2015 Elsevier B.V. All rights reserved.

    DOI： 10.1016/j.strueco.2015.01.002

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  • Keynesian systems with rigidity and flexibility of prices and inflation-deflation expectations Reviewed

    Hiroki Murakami

    Structural Change and Economic Dynamics   30   68 - 85   2014.9

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

    In this paper, by utilizing the Poincare-Bendixson theory and the Hopf bifurcation theory, we analyze both rigid-price and flexible-price nonlinear disequilibrium Keynesian macroeconomic systems, prove the existence of a persistent business cycle and derive the conditions for global asymptotic stability of the equilibrium. Consequently, we find that a Hopf bifurcation occurs for a lower value of the quantity adjustment parameter in the flexible-price system than in the rigid-price one and that inflation expectation effects may easily destabilize the economic system. Furthermore, we reveal that global asymptotic stability of the flexible-price system is unlikely to be achieved. (C) 2014 Elsevier B.V. All rights reserved.

    DOI： 10.1016/j.strueco.2014.02.002

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Books

  • 経済理論・応用・実証分析の新展開

    Akio Matsumoto（ Role： Contributor第5章 村上弘毅「需要飽和および需要創出による経済成長」）

    Chuo University Press  2017.11 

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    Total pages：319   Responsible for pages：109-129   Language：Japanese   Book type：Scholarly book

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

    Akio Matsumoto, Ferenc Szidarovszky, Toichiro Asada（ Role： ContributorHiroki Murakami "A Non-Walrasian Microeconomic Foundation of the 'Profit Principle' of Investment"）

    Springer  2016.9 

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    Total pages：258   Responsible for pages：123-141   Language：English   Book type：Scholarly book

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MISC

  • 江原慶『資本主義的市場と恐慌の理論』 Invited

    Hiroki Murakami

    経済学史研究   63 ( 1 )   98 - 99   2021.7

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    Language：Japanese   Publishing type：Book review, literature introduction, etc.   Publisher：経済学史学会  

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  • アミタバ・K・ダット「マルクスの経済成長及び所得分配に関する理論の重要性」 Invited

    村上弘毅

    『経済セミナー増刊されどマルクス』   31 - 37   2018.5

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

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Presentations

  • On growth cycles in a stochastic post-Keynesian model

    Hiroki Murakami

    ICIAM 2023  2023.8 

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    Event date： 2023.8 　 　

    Language：English   Presentation type：Oral presentation (general)  

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  • The Unique Limit Cycle in Post Keynesian Systems International conference

    Hiroki Murakami

    NED (Nonlinear Economic Dynamics Conference) 2021  ( Milan, Italy )   2021.9 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Monetary Policy in the Unique Growth Cycle of Post Keynesian Systems

    Hiroki Murakami

    The 24th Annual Meeting of Japan Association for Evolutionary Economics  2020.5 

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    Language：Japanese   Presentation type：Oral presentation (general)  

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  • Inflation-Deflation Expectations and Economic Stability in a Kaleckian System Invited International conference

    Hiroki Murakami

    Kyoto University Faculty of Economics The 100th Year Anniversary International Conference Series "Economic Growth and Income Distribution: Facing Real Economy Beyond Schools"  ( Kyoto )   2019.8  Kyoto University

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    Language：English   Presentation type：Oral presentation (invited, special)  

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  • Monetary Policy in the Unique Growth Cycle of Post Keynesian Systems

    Hiroki Murakami

    The 45th Annual Conference of Eastern Economic Association  ( Sheraton New York Times Square Hotel )   2019.3 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Existence and Uniqueness of Growth Cycles of Post Keynesian Systems

    Hiroki Murakami

    Seminar on Institutional Economic Dynamics  ( Kyoto University )   2019.1 

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    Language：Japanese   Presentation type：Oral presentation (general)  

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  • Monetary policy in the unique growth cycle of post Keynesian systems

    MDEF 2018 (10th Workshop of Modelli Dinamici in Economia e Finanza)  ( University of Urbino (Italy) )   2018.9 

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    Language：English   Presentation type：Oral presentation (general)  

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

    Toichiro Asada, Hiroki Murakami

    ORCOS 2018 (14th Viennese Conference on Optimal Control and Dynamic Games)  2018.7 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Economic Growth by Demand Saturation and Demand Creation

    Regional Studies Association Student & Early Career Conference 2017  2017.11 

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    Language：English   Presentation type：Oral presentation (general)  

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  • A Two-Sector Keynesian Model of Business Cycles

    NED 2017 (10th International Conference on Nonlinear Economic Dynamics)  2017.9 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Economic Growth with Demand Saturation and Demand Creation

    RIMS Joint Research Workshop "Nonlinear Dynamics in Macroeconomics"  2017.8 

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    Language：Japanese   Presentation type：Oral presentation (general)  

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  • Exchange Rate and Tax Policies in an Economic Development Model with Public Capital

    Hiroki Murakami and Hiroaki Sasaki

    Seminar on Institutional Economic Dynamics  2017.8 

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    Language：English   Presentation type：Oral presentation (general)  

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  • A Two-Sector Keynesian Model of Business Cycles

    2016 Annual Meeting of Japan Association for Evolutionary Economics  2017.3 

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    Language：Japanese   Presentation type：Oral presentation (general)  

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  • A Two-Sector Keynesian Model of Business Cycles

    Seminar on Institutional Economic Dynamics  2017.2 

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    Language：Japanese   Presentation type：Oral presentation (general)  

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  • A Two-Sector Keynesian Model of Business Cycles

    The 6th Annual Meeting of Keynes Society Japan  2016.12 

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    Language：Japanese   Presentation type：Oral presentation (general)  

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  • A Two-Sector Keynesian Model of Business Cycles

    The 2nd International Seminar on Political Economy in Toyama 2016  2016.10 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Inflation-Deflation Expectations and Economic Stability in the Kaleckian System

    The 64th Annual Meeting of Japan Society for Political Economy  2016.10 

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    Language：Japanese   Presentation type：Oral presentation (general)  

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  • Alternative Monetary Policies and Economic Stability in a Medium-Term Keynesian Model

    2016 Japanese Economic Association Autumn Meeting  2016.9 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Inflation-Deflation Expectations and Economic Stability in the Kaleckian System

    MDEF 2016 (9th Workshop of Modelli Dinamici in Economia e Finanza)  2016.6 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Firm Growth by Product Innovation in the Presence of Product Life Cycle

    2016 Japanese Economic Association Spring Meeting  2016.6 

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    Language：English   Presentation type：Poster presentation  

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  • Time Elements and Oscillatory Fluctuations in the Keynesian Macroeconomic System

    International Seminar on Political Economy in Toyama 2016  2016.2 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Firm Growth by Product Innovation in the Presence of Product Life Cycle

    Workshop on Political Economy (Tohoku University)  2016.2 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Alternative Monetary Policies and Economic Stability in a Medium-term Keynesian Model

    The 63rd Annual Conference of the Japan Society of Political Economy  2015.11 

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    Language：Japanese   Presentation type：Oral presentation (general)  

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  • Endogenous Demand Creation and Economic Growth

    2015 Japanese Economic Association Autumn Meeting  2015.10 

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    Language：English   Presentation type：Poster presentation  

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  • Price Flexibility,Inflation-Expectations and|rn|Economic Stability in Keynesian Models: Analytical and Numerical Investigation

    RIMS Joint Research Workshop "Nonlinear Dynamics in Macroeconomics"  2015.9 

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    Language：English   Presentation type：Oral presentation (general)  

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  • Time Elements and Oscillatory Fluctuations in the Keynesian Macroeconomic System

    NED 2015 (9th International Conference on Nonlinear Economic Dynamics)  2015.6 

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  • Time Elements and Oscillatory Fluctuations in the Keynesian Macroeconomic System

    Seminar on Institutional Economic Dynamics  2015.6 

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    Language：Japanese   Presentation type：Oral presentation (general)  

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  • Endogenous Demand Creation and Economic Growth

    Tohoku Forum for Creativity Pre-Program 2014 Annual Wrap-Up Seminar  2015.3 

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  • Wage Flexibility and Economic Stability in a Non-Walrasian Model of Economic Growth

    2014 Japanese Economic Association Autumn Meeting  2014.10 

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    Language：English   Presentation type：Poster presentation  

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  • Alternative Stabilization Policies in a Keynes-Kaldor-Tobin Model of Business Cycles

    MDEF 2014 (8th Workshop of Modelli Dinamici in Economia e Finanza)  2014.9 

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Awards

  • Young Researcher Award of Japan Association for Evolutionary Economics

    2021.3   Japan Society for Evolutionary Economics  

  • 令和元年度中央大学学術研究奨励賞

    2020.3   Chuo University  

  • 第10回経済理論学会奨励賞

    2019.10   Japan Society of Political Economy  

Research Projects

  • 屈折需要曲線の動学的展開によるマクロ経済理論の設計

    2021.4 - 2025.3

    文部科学省  科学研究費補助金（日本学術振興会・文部科学省）－若手研究 

    村上弘毅

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    Grant type：Competitive

    Grant amount： \4810000

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  • "Synthesis of ""Short Term"" and ""Long Term"" in Macroeconomics"

    2018.4 - 2021.3

    文部科学省  科学研究費補助金（日本学術振興会・文部科学省）－若手研究 

    村上弘毅

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    Authorship：Principal investigator  Grant type：Competitive

    Grant amount： \4160000

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