Ph.D. in Economics(LMU University of Munich), 博士(経済学)(ルートヴィヒマクシミリアン大学ミュンヘン), Master of science in Economics(LMU University of Munich), 修士(経済学)(ルートヴィヒマクシミリアン大学ミュンヘン), Bachelor of Science in Economics(LMU University of Munich), 学士(経済学)(ルートヴィヒマクシミリアン大学)
Research funding number
50844982
J-Global ID
201901015764356856
Profile
since 2023: Associate Professor, Sophia University, Faculty of Economics, Department of Economics, research on wealth preferences in macroeconomic models 2019-2023: Assistant Professor, Sophia University, Faculty of Economics, Department of Economics, research on wealth preferences in macroeconomic models 2018-2019: Specially Appointed Researcher, Osaka University, Institute of Social and Economic Research, research on stagnation economics and rational bubbles 2017-2018: JSPS International Research Fellow, Osaka University, Institute of Social and Economic Research, research on stagnation economics and rational bubbles 2013-2018: Research Associate, LMU University of Munich, Faculty of Economics, Seminar for Macroeconomics, research on sovereign debt and stagnation economics My primary fields of research include macroeconomics, international finance, monetary economics and sovereign debt. Recently, I am particularly interested in models of secular stagnation and asset price bubbles, motivated to a large extent by the macroeconomic experience of Japan during the last decades.
Jean Baptiste Michau   Yoshiyasu Ono   Matthias Schlegl   
European Economic Review 156 Jul 2023 [Refereed]
In this paper, we show that rational bubbles can exist within a neoclassical economy, provided that households derive utility from holding wealth. Hence, we provide a microfoundation for bubbles that relies on a frictionless economy with an infini...
Ken ichi Hashimoto   Yoshiyasu Ono   Matthias Schlegl   
Journal of Economic Theory 209 Apr 2023 [Refereed]
In this paper, we show that underemployment and not necessarily high unemployment becomes the main measure of economic slack in the labor market under secular stagnation. Specifically, involuntary underemployment in the form of a persistent shortf...
Gerhard Illing   Yoshiyasu Ono   Matthias Schlegl   
European Economic Review 108 78-104 Sep 2018 [Refereed]
Why do economies fall into prolonged periods of economic stagnation, particularly in the aftermath of credit booms? We study the interactions between household debt, liquidity and asset prices in a model of persistent demand shortage. We show that...