Graduate School of Economics
HORI Masahiro

Books and Other Publications

1. デビッド・ローマー著『上級マクロ経済学』(第三版)(岩成博夫、南條隆と共訳)(原書名:Romer, David (2006), Advanced Macroeconomics, third edition, The McGraw-Hill.)
堀 雅博 (Joint translator)
日本評論社 2010.3 (ISBN : 9784535554931)
2. デビット・ローマー著『上級マクロ経済学』(初版) (岩成博夫、南條隆と共訳)(原書名:Romer, David (1996), Advanced Macroeconomics, first edition, The McGraw-Hill.)
堀 雅博 (Joint translator)
日本評論社 1998.4 (ISBN : 9784535551046)

Papers

1. "Bequest Motives and the Saving Behavior of the Elderly: Empirical Evidence from a Japanese Household Survey," (jointly worked) (Peer-reviewed)
Hamaaki, Junya, Hori, Masahiro
The Economic Analysis No.200,pp.11-36 2019.6
Link
2. “The Effect of Inheritance Receipt on Individual Labor Supply: Evidence from Japanese Microdata,” (jointly worked) (Peer-reviewed)
Takeshi Niizeki, Masahiro Hori
Japan and the World Economy Vol.49,pp.176-186 2019.3
doi
3. "Housing Wealth Effects in Japan: Evidence Based on Household Micro Data," (jointly worked) (Peer-reviewed)
Masahiro Hori, Takeshi Niizeki
he B.E. Journal of Economic Analysis & Policy 2019.3
doi
4. "Is there a retirement consumption puzzle in Japan? Evidence from a household panel dataset spanning several years," (jointly worked) (Peer-reviewed)
Masahiro Hori, Keiko Murata
Applied Economics Vol.51,No.16,pp.1784-1798 2019.1
doi
5. "The intra-family division of bequests and bequest motives: empirical evidence from a survey on Japanese households," (jointly worked) (Peer-reviewed)
Junya Hamaaki, Masahiro Hori, Keiko Murata
Journal of Population Economics Vol.32,No.1,pp.309-346 2019.1
doi
6. 「経済教室:消費増税に何が必要か(下) 『政争の具』の悪弊脱却を 国民の理解専門家も責任」
堀 雅博
『日本経済新聞』 2018.12
Link
7. "The exchange rate and the performance of Japanese firms: an analysis using firm-level panel data," (jointly worked)
Masahiro Hori, Masanori Umeda, Takashi Hanagaki
『デフレと戦う―金融政策の有効性 レジーム転換の実証分析』(安達誠司・飯田泰之編) pp.133-161 2018.10
8. Twin Survey on the Japanese Economy and Policy Effects: Outline of the Survey and Report of Summary Statistics (jointly worked)
Masanori Umeda, Takuma Kawamoto, Masahiro Hori
The Economic Analysis No.197,pp.144-185 2018.3
Link
9. The incidence of the tuition-free high school program in Japan (Peer-reviewed)
Masahiro Hori, Satoshi Shimizutani
Education Economics Vol.26,No.1,pp.93-108 2018.1
doi
10. "Does the Aging of a Firms' Workforce Affect Its Investment Behavior? " (jointly worked) (Peer-reviewed)
Masanori Umeda, Takuma Kawamoto, Tetsuro Sakamaki, Masahiro Hori
The Economic Analysis No.195,pp.135-157 2017.12
Link
11. Population Aging and Domestic Investment: An Analysis Using International Panel Data (jointly worked) (Peer-reviewed)
Masanori Umeda, Takuma Kawamoto, Tetsuro Sakamaki, Masahiro Hori
The Economic Analysis No.195,pp.115-133 2017.12
Link
12. Do the Rich Save More in Japan? Evidence Based on two Micro Data Sets for the 2000s (Peer-reviewed)
Masahiro Hori, Koichiro Iwamoto, Takeshi Niizeki, Fumihiko Suga
Japanese Economic Review Vol.67,No.4,pp.474-494 2016.12
doi
13. DO THE RICH SAVE MORE IN JAPAN? EVIDENCE BASED ON TWO MICRO DATA SETS FOR THE 2000S (Peer-reviewed)
Masahiro Hori, Koichiro Iwamoto, Takeshi Niizeki, Fumihiko Suga
JAPANESE ECONOMIC REVIEW Vol.67,No.4,pp.474-494 2016.12
doi
14. New Evidence on Intra-Household Allocation of Resources in Japanese Households (Peer-reviewed)
Masahiro Hori, Nahoko Mitsuyama, Satoshi Shimizutani
Japanese Economic Review Vol.67,No.1,pp.77-95 2016.3
doi
15. New Evidence on Intra-Household Allocation of Resources in Japanese Households (Peer-reviewed)
Masahiro Hori, Nahoko Mitsuyama, Satoshi Shimizutani
JAPANESE ECONOMIC REVIEW Vol.67,No.1,pp.77-95 2016.3
doi
16. The ESRI Short-Run Macroeconometric Model of the Japanese Economy (2015 version): Basic Structure, Multipliers, and Economic Policy Analyses (jointly worked)
Koji HAMADA, Takashi HANAGAKI, Masahiro HORI, Koichiro IWAMOTO, Taisuke KAMEDA, Ruriko YOKOYAMA
Economic Analysis No.190,pp.69-84 2016.1
Link
17. A practical tool for policy analysis: The ESRI Short-Run Macroeconometric Model of the Japanese Economy (jointly worked)
Takashi HANAGAKI, Masahiro HORI, Koichiro IWAMOTO
Economic Analysis No.190,pp.85-92 2016.1
Link
18. "Estimation of Annual Consumption Expenditures by Japanese Households," (jointly worked)
Koichiro Iwamoto, Fumihiko Suga, Takeshi Niieki, Jyunya Hamaaki, Masahiro Hori, Keiko Murata
The Economic Analysis No.190,pp.93-128 2016.1
Link
19. "Estimation of Real Assets Holdings by Japanese Households Based," (jointly worked)
Koichiro Iwamoto, Takeshi Niizeki, Jyunya Hamaaki, Masahiro Hori, Saeko Maeda, Keiko Murata
The Economic Analysis No.189,pp.63-95 2015.2
Link
20. "Match-Rigging in Professional Sumo: Elucidation of Incentive Structures and Empirical Analysis," (jointly worked)
Masahiro Hori, Koichiro Iwamoto
The Japanese Political Economy Vol.40,No.2,pp.91-125 2015.1
Link
21. Intergenerational Transfers and Asset Inequality in Japan: Empirical Evidence from New Survey Data (Peer-reviewed)
Junya Hamaaki, Masahiro Hori, Keiko Murata
ASIAN ECONOMIC JOURNAL Vol.28,No.1,pp.41-62 2014.3
doi
22. "The Run on Daily Foods and Goods after the 2011 Tohoku Earthquake: A Fact Finding Analysis Based on Homescan Data," (jointly worked)
Masahiro Hori, Koichiro Iwamoto
The Japanese Political Economy Vol.40,No.1,pp.69-113 2014.3
doi
23. "Intergenerational Transfers and Asset Inequality in Japan: Empirical Evidence from New Survey Data," (jointly worked) (Peer-reviewed)
Junya Hamaaki, Masahiro Hori, Keiko Murata
Asian Economic Journal: Journal of the East Asian Economic Association Vol.28,No.1,pp.41-62 2014.3
doi
24. How does the first job matter for an individual's career life in Japan? (Peer-reviewed)
Junya Hamaaki, Masahiro Hori, Saeko Maeda, Keiko Murata
JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES Vol.29,pp.154-169 2013.9
doi
25. "Inflation Expectations of Japanese Households: Micor Evidence from a Consumer Confidence Survey," (jointly worked)
Masahiro Hori, Masaaki Kawagoe
Hitotsubashi Journal of Economics Vol.54,No.1,pp.17-38 2013.6
Link
26. "Match-Rigging in Professional Sumo-Elucidation of Incentive Structures and Empirical Analysis-," (jointly worked) (Peer-reviewed)
Masahiro Hori, Koichiro Iwamoto
『経済研究』 Vol.64,No.2,pp.132-146 2013.4
Link
27. Realities of Retirement Allowances in Japan : Micro-data Evidence from a Household Survey (jointly worked) (Peer-reviewed)
Keiko Murata, Junya Hamaaki, Masahiro Hori
『経営と制度』 No.11,pp.1-17 2013.3
Link
28. Costs of Myanmar's multiple exchange-rate regime (Peer-reviewed)
Masahiro Hori, Yu Ching Wong
JOURNAL OF INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT Vol.22,No.2,pp.209-233 2013.3
doi
29. 「経済教室:ノーベル経済学賞の系譜―知見活用へ新分野を開拓」
堀雅博
『日本経済新聞』 2012.12
Link
30. CHANGES IN THE JAPANESE EMPLOYMENT SYSTEM IN THE TWO LOST DECADES (Peer-reviewed)
Junya Hamaaki, Masahiro Hori, Saeko Maeda, Keiko Murata
ILR REVIEW Vol.65,No.4,pp.810-846 2012.10
doi
31. Erosion in Japan's Seniority Wages, and Lifetime Income (jointly worked)
Koichiro Iwamoto, Masahiro Hori
Aging and Pension Investment Vol.31,No.3,pp.61-70 2012.10
32. Do households smooth expenditure over anticipated income changes? Evidence from bonus payments to public employees in Japan (Peer-reviewed)
Masahiro Hori, Satoshi Shimizutani
JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES Vol.26,No.3,pp.405-433 2012.9
doi
33. 「経済教室:変わる日本型雇用システム上―『年功賃金』崩壊、若年に重荷」
堀雅博
『日本経済新聞』 2012.7
Link
34. 「我が国世帯における資産の世代間移転と資産格差:アンケート調査の個票を用いた実証分析」 (共著)
堀 雅博, 濱秋純哉
『季刊個人金融』 Vol.6,No.2,pp.27-36 2011.7
35. "Japanese Employment System in the Lost Decades," (jointly worked)
Junya Hamaaki, Masahiro Hori, Saeko Maeda, Keiko Murata
The Japanese Journal of Labour Studies No.611,pp.26-37 2011.6
Link
36. "An overview of the Survey of Family Relationship, Job Experience, Retirement," (jointly worked)
Masahiro Hori, Junya Hamaaki, Saeko Maeda, Keiko Murata
The Economic Analysis Vol.184,pp.141-167 2011.1
Link
37. Did Japan's shopping coupon program increase spending? (Peer-reviewed)
Chang-Tai Hsieh, Satoshi Shimizutani, Masahiro Hori
JOURNAL OF PUBLIC ECONOMICS Vol.94,No.7-8,pp.523-529 2010.8
doi
38. "The Impact of Globalization on Economic Development in Myanmar," (jointly worked)
Wilson, T, L. Teo, M. Hori
in Globalization and Economic Development in the Mekong Economies (Suiwah Leung, Ben Bingham, and Matt Davies ed.) Edward Elgar publishers, UK, 2010.7
39. Do depositors respond rationally to bank risks? Evidence from Japanese banks during crises (Peer-reviewed)
Masahiro Hori, Yasuaki Ito, Keiko Murata
Pacific Economic Review Vol.14,No.5,pp.581-592 2009.12
doi
40. DO DEPOSITORS RESPOND RATIONALLY TO BANK RISKS? EVIDENCE FROM JAPANESE BANKS DURING CRISES (Peer-reviewed)
Masahiro Hori, Yasuaki Ito, Keiko Murata
PACIFIC ECONOMIC REVIEW Vol.14,No.5,pp.581-592 2009.12
doi
41. 「アジアの発展と日本経済:外需動向・為替レートと日本の国際競争力」
堀雅博
『マクロ経済と産業構造』 バブル/デフレ期の日本経済と経済政策1(内閣府・経済社会総合研究所 企画監修、深尾京司編)第6章 pp.177-208 2009.9
Link
42. 「百年に一度の危機と大恐慌」
堀雅博
『ESP:Economy Society Policy』 2009.7
Link
43. 「『日本の経験』と世界経済危機」
堀雅博
『ESP: Economy Society Policy』 2009.1
44. The Response of Household Expenditure to Anticipated Income Changes: Bonus Payments and the Seasonality of Consumption in Japan (Peer-reviewed)
Masahiro Hori, Satoshi Shimizutani
B E JOURNAL OF MACROECONOMICS Vol.9,No.1 2009
doi
45. "Can Asia Decouple? Investigating Spillovers from the United States to Asia," (jointly worked)
Guimaraes-Filho, R, M. Hori, J. Miniane, P. N’Diaye
Asia and Pacific Regional Economic Outlook?World Economic and Financial Survey pp.27-40 2008.4
Link
46. “Intraregional Trade Key to Asia’s Export Boom,” (jointly worked)
Masahiro Hori, Paul Gruenwald
IMF Survey MAGAZINE Vol.37,No.3,pp.45 2008.3
Link
47. 「ミャンマー経済:その現状と体制の桎梏―マクロ経済の視点から―」
堀雅博
『ESP: Economy Society Policy』 No.427,pp.58-64 2007.11
48. "The Evolution of Trade in Emerging Asia,"
Hori, M
Asia and Pacific Regional Economic Outlook?World Economic and Financial Survey pp.41-53 2007.10
Link
49. ARE TAX CUTS EFFECTIVE EVEN IN ANTICIPATION OF A FUTURE TAX INCREASE? EVIDENCE FROM JAPAN'S UNIQUE EPISODES IN THE 1990S (Peer-reviewed)
Masahiro Hori, Satoshi Shimizutani
SINGAPORE ECONOMIC REVIEW Vol.52,No.2,pp.167-177 2007.8
50. "Are Tax Cuts Effective Even in Anticipation of A Future Tax Increase? Evidence from Japan’s Unique Episodes in the 1990s," (jointly worked) (Peer-reviewed)
Masahiro Hori, Satoshi Shimizutani
Singapore Economic Review Vol.52,No.2,pp.167-177 2007.8
doi
51. "The Evolving Nature of Capital Flows in Emerging Asia," (jointly worked)
Aiyar, S, M. Hori, L. Teo
Asia and Pacific Regional Economic Outlook?World Economic and Financial Survey pp.28-49 2007.4
Link
52. Do small depositors exit from bad banks? Evidence from small financial institutions in Japan (Peer-reviewed)
K Murata, M Hori
JAPANESE ECONOMIC REVIEW Vol.57,No.2,pp.260-278 2006.6
53. Comment: The impacts of "shock therapy" under a banking crisis: Experiences from three large bank failures in Japan
Masahiro Hori
Japanese Economic Review Vol.57,No.2,pp.257-259 2006.6
doi
54. Do small depositors exit from bad banks? Evidence from small financial institutions in Japan (Peer-reviewed)
Keiko Murata, Masahiro Hori
Japanese Economic Review Vol.57,No.2,pp.260-278 2006.6
doi
55. "Did Japanese Consumers Become More Prudent During 1998-1999? Evidence from Household-Level Data," (jointly worked) (Peer-reviewed)
Hori, M, S. Shimizutani
International Economic Journal Vol.20,No.2,pp.197-209 2006.6
doi
56. Price expectations and consumption under deflation: Evidence from Japanese household survey data
Masahiro Hori, Satoshi Shimizutani
International Economics and Economic Policy Vol.2,No.2-3,pp.127-151 2005.11
doi Link
57. Does bank liquidation affect client firm performance? Evidence from a bank failure in Japan (Peer-reviewed)
M Hori
ECONOMICS LETTERS Vol.88,No.3,pp.415-420 2005.9
doi
58. "Japan's Household Saving and the Bonus System," (jointly worked)
Satoshi Shimizutani, Masahiro Hori
The Economic Review Vol.56,No.3,pp.234-247 2005.7
Link
59. Consumer response to the 1994 tax cut: Evaluating Japan's first tax cut in the 1990S
M Hori, S Shimizutani
HITOTSUBASHI JOURNAL OF ECONOMICS Vol.46,No.1,pp.85-97 2005.6
Link
60. "Facilitation of Fund Supply and Small Business Failures," (jointly worked) (Peer-reviewed)
Yasuko Takezawa, Katsumi Matsuura, Masahiro Hori
The Economic Analysis No.176,pp.4-17 2005.6
Link
61. "Japanese small business loan markets after the 1990s by prefectures and industries - What were problems?" (jointly worked)
Yasuko Takezawa, Katsumi Matsuura, Masahiro Hori
The Economic Review of Toyo University Vol.30,No.2,pp.17-36 2005.3
62. "Applications of the Carlson-Parkin Method to Japanese Price Expectations," (jointly worked)
Masahiro Hori, Akira Terai
The Economic Analysis No.175,pp.167-173 2005.3
Link
63. 「護送船団方式の終焉と預金者行動:信金・信組のパネルデータによる検証」 (共著)
堀雅博, 村田啓子
『ESP: Economy Society Policy』 No.390,pp.60-64 2004.10
64. 「銀行機能低下元凶説は説得力を持ち得るか」 (共著)
堀雅博, 木滝秀彰
『論争 日本の経済危機:長期停滞の真因を解明する』(浜田宏一・堀内昭義編)第8章 pp.245-272 2004.5
65. "Asset Holding and Consumption: Evidence from Japanese Panel Data in the 1990s," (jointly worked) (Peer-reviewed)
Masahiro Hori, Satoshi Shimizutani
Seoul Journal of Economics Vol.17,No.2,pp.153-179 2004.4
Link
66. "What Changes Deflationary Expectations? Evidence from Japanese Household-level Data," (jointly worked) (Peer-reviewed)
Satoshi Shimizutani, Masahiro Hori
The Economic Analysis No.172,pp.60-79 2004.3
Link
67. "Stochastic Simulations using the ESRI Short-Run Model," (jointly worked) (Peer-reviewed)
Masahiro Hori, Makoto Yamane, Toshiyuki Tanabe
The Economic Analysis No.171,pp.69-83 2003.12
Link
68. "The Value of Bank Relationship - A Study on the Hokkaido Takusyoku Bank's Failure," (jointly worked) (Peer-reviewed)
Masahiro Hori, Tomoyuki Takahashi
The Economic Analysis No.169,pp.24-49 2003.3
Link
69. 「流動性の罠と金融政策の有効性―計量モデルによるシミュレーション分析―」
堀雅博
『金融』 No.669 2002.12
70. 「一時的な収入の増加は消費拡大につながるか―振興券と特別減税―」
堀雅博
『財経詳報』 No.2311,pp.21-25 2002.10
71. 「銀行破綻とマクロ経済:アメリカ大恐慌と拓銀破綻の経験から」
堀雅博
『デフレ不況の実証分析』(原田泰・岩田規久男編)第6章 pp.121-144 2002.10
72. 「世界大恐慌と金融政策:国際比較による接近」
堀雅博
『デフレ不況の実証分析』(原田泰・岩田規久男編)第9章 pp.195-215 2002.10
73. 「財政政策か金融政策か:素朴なマクロ時系列分析による素描」 (共著)
堀雅博, 伊藤靖晃
『デフレ不況の実証分析』(原田泰・岩田規久男編) 第3章 pp.41-73 2002.10
74. 「一時的需要喚起策と我が国家計の消費行動ー地域振興券と98年特別減税」 (共著)
堀雅博, 清水谷諭
『ESP: Economy Society Policy』 No.365,pp.35-39 2002.9
75. How can we escape from a deflation: An international and historical approach
Masahiro Hori
Financial Review No.64,pp.86-109 2002.8
Link
76. 「大恐慌と大戦の悲劇を生んだ金融政策の誤りを日本は学べ」 (共著)
原田泰, 堀雅博
『週刊ダイヤモンド』 Vol.90,No.20,pp.48-51 2002.5
77. 「相対価格調整とデフレーション」 (共著)
堀雅博, 浜田宏一
『エコノミックス』 Vol.7,pp.51-59 2002.4
78. "Main Bank Failure and Client Firm Bankruptcy: A Review on the Hokkaido Takusyoku Bank Case,"
Masahiro Hori
『国際社会科学』 No.52,pp.1-14 2002.3
79. 「シンクタンクの目:是か非かインフレターゲティングーデフレの本質カギ、需要減響く」 (共著)
堀 雅博, 田邉智之, 山根誠
『日本工業新聞』 2002.2
80. 「財務データによる倒産判別分析:与信先デフォルト確率計算の一手法として」 (共著)
堀雅博, 高橋吾行, 武田光滋
『クレジット研究』 No.26,pp.50-68 2001.10
81. 「平成不況と経済対策―『短期日本経済マクロ計量モデル』によるCounter Factual Simulation」 (共著)
鈴木晋, 萱園理, 堀雅博
『エコノミック・リサーチ』 Vol.5,pp.1-16 1999.3
82. "The Short-Run Macroeconometric Model of the Japanese Economy: Basic Structure and Multipliers" (jointly worked)
Masahiro Hori, Suzumu Suzuki, Osamu Kayazono
The Economic Analysis No.157,pp.17-63 1998.10
Link
83. "Historical Transition of Fiscal Multiplier and Structure of Macro Models," (jointly worked)
Masahiro Hori, Susumu Suzuki, Osamu Kayazono
The Economic Analysis No.157,pp.65-97 1998.10
Link
84. Household Saving Rate and Family Structure (jointly worked)
Masahiro Hori, Shingo Nakazawa, Takako Kikuta
Journal of business and economics Vol.77,No.3,pp.89-123 1997.12
Link
85. "The Great Depression and the Gold Standard - An expository example of Cliometrics,"
Masahiro Hori
『経営と經濟』 Vol.76,No.3,pp.39-90 1996.12
Link
86. "New Evidence on the Causes and Propagation of the Great Depression,"
Masahiro Hori
A dissertation submitted to the University of California at Berkeley 1996.5
87. 「VARモデルは本当に景気循環の分析に有効なのか―モンテカルロシミュレーションによる批判的検討」
堀雅博
『ESP: Economy Society Policy』 No.279,pp.75-82 1995.7
88. 「金融政策と日本経済」 (共著)
吉川洋, 堀雅博, 堀宣昭, 竹田陽介他
『経済分析』 No.128 1993.3
Link
89. 「第4次版EPA世界経済モデル-基本構造と乗数分析-」 (共著)
太田清, 柴本芳郎, 中野純, 村田啓子, 堀雅博他
『経済分析』 No.124,pp.1-203 1991.7
Link
90. 「EPA世界経済モデルの構造と財政政策の効果」 (共著)
安原宣和, 吉岡真史, 田邊靖夫, 堀雅博他
『経済分析』 No.114 1989.7
Link
91. 「日米両国の対外収支調整はどの程度進展したか」
堀雅博
『日本財政経済研究月報』 Vol.36,No.3,pp.17-23 1989.3

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Misc.

1. Comment: Do small depositors exit from bad banks? Evidence from small financial institutions in Japan - Reply
K Murata, M Hori
JAPANESE ECONOMIC REVIEW Vol.57,No.2,pp.282 2006.6

Research Projects

No. Research subject Research item(Awarding organization, System name) Year
1. "Studies on the Influences of Value-added-tax on Household Consumption and on Disparity among Households"
Scientific Research (C)
( Awarding organization: Japan Society for the Promotion of Science System name: Grants-in-Aid for Scientific Research )
2019.4 - 2022.3
2. "The influence of subjective perceptions on household's financial and economic behavior and its economic implications"
Scientific Research (B)
( Awarding organization: Japan Society for the Promotion of Science System name: Grants-in-Aid for Scientific Research )
2018.4 - 2022.3
3. Analysis of the effects of macroeconomic policies
2012.8 -
4. Micro-data based Analyses on the Economic Behaviors of Households and Policy Effectiveness in Japan
Scientific Research (A)
( Awarding organization: Japan Society for the Promotion of Science System name: Grants-in-Aid for Scientific Research )
2011.4 - 2014.3
5. Consumption/Saving Behaviors of Japanese Households
2008.8 -
6. Income/Assets Distribution of Japanese Households
2008.4 -

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