Papers - Otsu, Keisuke

The post-crisis slump in Europe: a business cycle accounting analysis

Florian Gerth and Keisuke Otsu

B.E. Journal of Macroeconomics (B.E. Journal of Macroeconomics)  18 ( 1 ) 1 - 25 2018.01

Research paper (scientific journal), Joint Work, Accepted

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© 2018 Walter de Gruyter GmbH, Berlin/Boston 2018. This paper analyzes the post-crisis slump in 30 European economies during the 2008Q1-2014Q4 period using the business cycle accounting (BCA) method à la [Chari, V. V., P. Kehoe, and E. McGrattan. 2007. "Business Cycle Accounting." Econometrica 75 (3): 781-836]. We find that the deterioration in the efficiency wedge is the most important driver of the European Great Recession and that this adverse shock persists throughout our sample. Moreover, we find that countries with higher growth in nonperforming loans feature a smaller decline in efficiency wedges. These findings support the emerging literature on resource misallocation triggered by financial crises.

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The credit spread and U.S. business cycles

Junsang Lee and Keisuke Otsu

Korea and the World Economy (Association of Korean Economic Studies)  18 ( 1 ) 63 - 92 2017.04

Research paper (scientific journal), Joint Work, Accepted

Population aging and the potential growth in Asia

Keisuke Otsu and Katsuyuki Shibayama

Asian Development Review (MIT Press)  33 ( 2 ) 56 - 73 2016.09

Research paper (scientific journal), Joint Work, Accepted

Accounting for the business cycle relationship between Japan and Asia

Hideaki Hirata and Keisuke Otsu

Journal of the Japanese and International Economies (Elsevier)  41   57 - 68 2016.09

Research paper (scientific journal), Joint Work, Accepted

A neoclassical analysis of the Great Recession: a historical comparison

Florian Gerth and Keisuke Otsu

Economics Bulletin (Access Econ)  35 ( 4 ) 2363 - 2372 2015.11

Research paper (scientific journal), Joint Work, Accepted

Organizational Dynamics and Aggregate Fluctuations: the Role of Financial Relationships

Keisuke Otsu and Masashi Saito

Journal of Economic Dynamics and Control (Elsevier)  37 ( 12 ) 3044 - 3058 2013.12

Research paper (scientific journal), Joint Work, Accepted

Business cycle accounting of the BRIC economies

Suparna Chakraborty and Keisuke Otsu

B.E. Journal of Macroeconomics (De Gruyter)  13 ( 1 )  2013.01

Research paper (scientific journal), Joint Work, Accepted

How well can business cycle accounting account for business cycles

Keisuke Otsu

Economics Bulletin (Access Econ)  32 ( 2 ) 1774 - 1784 2012.06

Research paper (scientific journal), Single Work, Accepted

Accounting for Japanese business cycles; a quest for labor wedges

Keisuke Otsu

Monetary and Economic Studies (Bank of Japan, Institute for Monetary and Economic Studies)  29   143 - 170 2011.11

Research paper (scientific journal), Single Work, Accepted

Working effort and the Japanese business cycle

Keisuke Otsu

経済研究 (一橋大学経済研究所)  ６２ ( １ ) 20 - 29 2011.01

Research paper (scientific journal), Single Work, Accepted

A Neoclassical Analysis of the Asian Crisis: Business Cycle Accounting for a Small Open Economy

Keisuke　Otsu

B.E. Journal of Macroeconomics (De Gruyter)  10 ( 1 )  2010.07

Research paper (scientific journal), Single Work, Accepted

A Neoclassical Analysis of the Postwar Japanese Economy

Keisuke　Otsu

B.E. Journal of Macroeconomics (De Gruyter)  9 ( 1 )  2009.05

Research paper (scientific journal), Single Work, Accepted

A Comparative Estimation of FinancialFrictions in Japan and Korea

Keisuke Otsu and Hak K. Pyo

Seoul Journal of Economics 22 ( 1 ) 45 - 86 2009.02

Research paper (scientific journal), Joint Work, Accepted

実物景気循環理論と日本経済

大津 敬介

金融研究 (日本銀行金融研究所)  27 ( 4 ) 45 - 86 2008.12

Research paper (scientific journal), Single Work, Accepted

A neoclassical analysis of the Korean Crisis

Keisuke　Otsu

Review of Economic Dynamics (Elsevier)  11 ( 2 ) 449 - 471 2008.04

Research paper (scientific journal), Single Work, Accepted