Directory of Researchers

MATSUBAYASHI Yoichi
Graduate School of Economics / Division of Economics
Professor
Business / Economics
Last Updated :2022/01/10

Researcher Profile and Settings

Affiliation

  • <Faculty / Graduate School / Others>

    Graduate School of Economics / Division of Economics
  • <Related Faculty / Graduate School / Others>

    Faculty of Economics / Department of Economics

Teaching

Research Activities

Research Interests

  • External Imbalances
  • 政策協調
  • 対外不均衡

Research Areas

  • Humanities & social sciences / Economic policy
  • Humanities & social sciences / Economic policy

Published Papers

  • 『訪日外国人消費動向調査』個票データを用いた インバウンド需要の計量分析

    MATSUBAYASHI YOICHI

    アジア太平洋研究所, Aug. 2019, APIR Trend Watch, 56, Japanese

    Scientific journal

  • Does Government Promote or Hinder Capital Accumulation? Evidence from Japan's High-Growth Era

    MATSUBAYASHI YOICHI

    Jun. 2019, Structural Change and Economic Dynamics, 49, 245 - 265, English

    [Refereed]

    Scientific journal

  • 都道府県別訪日外客数の月次推計と予測

    MATSUBAYASHI YOICHI

    May 2019, APIR Trend Watch, 54, Japanese

    Scientific journal

  • Quantitative Easing Policy, Exchange Rates and Business Activity by Industry in Japan from 2001 to 2006

    MATSUBAYASHI YOICHI

    2019, Singapore Economic Review, online ready, English

    [Refereed]

    Scientific journal

  • HAGIWARA TAIJI, MATSUBAYASHI Yoichi

    We empirically examine the relationship between capital accumulation, vintage and productivity of industries in Japan using firm-level microdata. Our analyses confirm that vintage significantly influenced productivity during the period of economic expansion. The effect was particularly notable during the upturn that started in 2000, when most examined industries displayed stron

    World Scientific, 2019, The Singapore Economic Review, 64 (3), 747 - 771, English

    [Refereed]

    Scientific journal

  • 「訪日外国人消費動向調査」個票データ分析から得られる関西インバウンド戦略へのインプリケーション(2)-訪日外国人の移動パターン-

    MATSUBAYASHI YOICHI

    Jan. 2019, APIR Trend Watch, 51, Japanese

    Scientific journal

  • 訪日外国人消費動向調査」個票データ分析から得られる関西インバウンド戦略へのインプリケーション(1)

    MATSUBAYASHI YOICHI

    Jun. 2018, APIR Trend Watch, 47, Japanese

    Scientific journal

  • Global Funds Glut, World Interest Rates and Secular Stagnation

    MATSUBAYASHI YOICHI

    内閣府経済社会総合研究所, Mar. 2018, 経済分析, 193, 131 - 160, Japanese

    [Refereed]

    Scientific journal

  • ユーロ圏経済の長期停滞の可能性について 2000-2016年

    MATSUBAYASHI YOICHI

    Feb. 2018, EUの揺らぎ, Japanese

    Scientific journal

  • HAGIWARA TAIJI, MATSUBAYASHI Yoichi

    We empirically examine the relationship between capital accumulation, vintage and productivity of industries in Japan using firm-level microdata. Our analyses confirm that vintage significantly influenced productivity during the period of economic expansion. The effect was particularly notable during the upturn that started in 2000, when most examined industries displayed stron

    World Scientific, Jun. 2016, The Singapore Economic Review, Online Ready, English

    [Refereed]

    Scientific journal

  • 地域DSGEモデルの応用可能性:家計の異質性を考慮して

    MATSUBAYASHI YOICHI

    Jan. 2016, APIR Discussion paper, (41), Japanese

    Scientific journal

  • Development of a Regional DSGE Model in Japan: Empirical Evidence of Economic Stagnation in the Kansai Economy

    MATSUBAYASHI YOICHI

    Apr. 2015, APIR Discussion paper, (38), English

    Scientific journal

  • Matsubayashi Yoichi, KITANO Shigeto

    Routledge, Nov. 2013, Financial Globalization and Regionalism in East Asia ,Chapter2, English

    Scientific journal

  • KITANO Shigeto, MATSUBAYASHI Yoichi

    Routledge, Nov. 2013, Takuji Kinkyo, Shigeyuki Hamori, Yoichi Matsubayashi (eds.), Financial Globalization and Regionalism in East Asia, 29 - 46, English

    Scientific journal

  • 金融危機とグローバル・インバランス

    Matsubayashi Yoichi, 福田 慎一

    東洋経済新報社, Apr. 2013, なぜ金融危機は起こるのか:金融経済研究のフロンティア, Japanese

    [Invited]

    Scientific journal

  • Deepening of International Interdependence and the East Asian Economy:Empirical Evidence based on Global VAR

    Matsubayashi Yoichi

    内閣府経済社会総合研究所, Apr. 2013, 世界経済の構造転換が東アジア地域に与える影響, English

    [Invited]

    Scientific journal

  • Substitutability of Savings by Sectors:OECD Experiences

    MATSUBAYASHI Yoichi, FUJII Takao

    Aug. 2012, 神戸大学Discussion Paper, No.1215,pp.1-48, English

    Scientific journal

  • 対外不均衡と国際資金フロー:グローバル・インバランス論を超えて

    Matsubayashi Yoichi, 貝塚 啓明, 財務省財務総合政策研究所

    中央経済社, Mar. 2012, 国際的なマネーフロー研究, Japanese

    [Invited]

    Scientific journal

  • Income Uncertainty,Risk Aversion,and Consumption Behavior:The Japanese Experience from 1987 to 2009

    Matsubayashi Yoichi, Yasuhide Tamura

    graduate school of Kobe University, Mar. 2012, Kobe Economic Review, 57, English

    Scientific journal

  • Empirical analysis of import demand behavior of least developed countries

    MATSUBAYASHI Yoichi, HAMORI Shigeyuki

    2009, Economics Bulletin, Vol.29, No.2 pp.1460 – 1475, English

    [Refereed]

    Scientific journal

  • Empirical analysis of export demand behavior of LDCs: Panel cointegration approach

    MATSUBAYASHI Yoichi, HAMORI Shigeyuki

    2009, Economics Bulletin, Vol.29, No.3 pp. 1996 – 2005, English

    [Refereed]

    Scientific journal

  • Yoichi Matsubayashi

    The purpose of this study is to analyze fluctuations in the current account in Japan by deconstructing structural and non-structural components with a new method. The study shows that at the beginning of the 1980's, most components of the current account in Japan were structural. After the Plaza agreement in 1985, however, Japan's structural current account sharply decreased. Since the end of 1990s, the structural components increased again and reached nearly 2% of GDP and these movements are generally associated with the structural components of equipment investment. Business fluctuations in Japan and world, especially in the U.S. play an important role in the non-structural current account. Cyclical movements of the current account are remarkable because they include periods of recession, and this tendency was notable in the 1990s. (C) 2005 Elsevier B.V. All rights reserved.

    ELSEVIER SCIENCE BV, Dec. 2006, JAPAN AND THE WORLD ECONOMY, 18 (4), 545 - 567, English

    [Refereed]

    Scientific journal

  • An Empirical Analysis on the Business Cycle Transmission between Japan and the United States

    HAMORI Shigeyuki, TANIZAKI Hisashi, MATSUBAYASHI Yoichi

    Dec. 2006, Eurasian Review of Economics and Finance, Vol.2, No.2, pp.1-8, English

    [Refereed]

    Scientific journal

  • Hisashi Tanizaki, Shigeyuki Hamori, Yoichi Matsubayashi

    2006, Statistical Papers, Vol.47 pp.109-124, English

    [Refereed]

    Scientific journal

  • TANIZAKI Hisashi, HAMORI Shigeyuki, MATSUBAYASHI Yoichi

    Jan. 2006, Statistical Papers, Vol.47, No.1, pp.109-124, English

    [Refereed]

    Scientific journal

  • International Convergence of the Real Interest Rate: An Alternative Measure

    Yoichi Matsuabayashi

    Oct. 2005, Journal of Economics&Business Administration, 第194巻第4号, Japanese

    [Refereed]

    Scientific journal

  • Y Matsubayashi

    This paper re-examines whether the huge external deficits in the United States for the last few decades are sustainable by using time series methods. Two distinct analytical differences from earlier works are considered. First, the private sector and government are separated to construct the current account identities used in this paper. Second, both the necessary and sufficient conditions for the sustainability of external deficits are explicitly considered. Taking these modifications into consideration, the empirical results of this study do not necessarily reject the hypothesis that external deficits in the US are sustainable. (C) 2004 Elsevier B.V. All rights reserved.

    ELSEVIER SCIENCE BV, Apr. 2005, JAPAN AND THE WORLD ECONOMY, 17 (2), 223 - 237, English

    [Refereed]

    Scientific journal

  • Yoichi Matsubayashi, Shigeyuki Hamori

    This paper empirically analyses the stability of the aggregate import demand function for G7 countries. The standard cointegration test and a test developed by Gregory and Hansen are performed. The results of standard cointegration tests suggest that there is no stable cointegrating relation between real import, real GDP and relative import price for all G7 countries. The cointegrating relation is empirically supported for France and Germany if structural change for cointegrating vector is explicitly taken into consideration. The cointegrating relation is empirically rejected for Canada, Italy, Japan, the UK and the USA. Thus, the stimulation of domestic business conditions will not necessarily link the quantity of imports for these five countries.

    10 Sep. 2003, Applied Economics, 35 (13), 1497 - 1504, English

    Scientific journal

  • Y Matsubayashi, S Hamori

    This paper empirically analyses the stability of the aggregate import demand function for G7 countries. The standard cointegration test and a test developed by Gregory and Hansen are performed. The results of standard cointegration tests suggest that there is no stable cointegrating relation between real import, real GDP and relative import price for all G7 countries. The cointegrating relation is empirically supported for France and Germany if structural change for cointegrating vector is explicitly taken into consideration. The cointegrating relation is empirically rejected for Canada, Italy, Japan, the UK and the USA. Thus, the stimulation of domestic business conditions will not necessarily link the quantity of imports for these five countries.

    ROUTLEDGE TAYLOR & FRANCIS LTD, Sep. 2003, APPLIED ECONOMICS, 35 (13), 1497 - 1504, English

    [Refereed]

    Scientific journal

MISC

  • 国際金融

    松林 洋一

    Apr. 2004, 植松忠博・小川一夫編『日本経済論』, 未記入, Japanese

    Others

  • 経済収支の決定と変動

    松林 洋一

    Apr. 2003, 中西訓嗣、広瀬憲三、井川一宏編「国際経済理論」, 第11章, Japanese

    Others

Books etc

  • グローバル・マネーフローの実証分析:金融危機後の新たな課題

    FUJITA Seiichi, MATSUBAYASHI Yoichi, KITANO Shigeto

    ミネルヴァ書房, Apr. 2014, Japanese

    Scholarly book

  • Financial Globalization and Regionalism in East Asia

    KINKYO Takuji, MATSUBAYASHI Yoichi, HAMORI Shigeyyuki

    Joint editor, Routledge, Dec. 2013, English

    Scholarly book

  • Global Linkages and Economic Rebalancing in East Asia

    Takuji KINKYO, Yoichi MATSUBAYASHI, Shigeyuki HAMORI

    Joint editor, World Scientific, Dec. 2012, English

    Scholarly book

  • New International Finance

    Yoichi Matsuabayashi

    Joint work, Yuhikaku, 2007, Japanese

    Textbook

Presentations

  • Bank profitability in Europe before and after the global financial crisis

    WIERZBOWSKA AGATA, Matsubayashi Yoichi

    Modern Monetary Economics Summer Institute (MME), Sep. 2017, Japanese, Domestic conference

    Oral presentation

  • 日本の経常収支:1885-2014

    Yoichi Matsubayashi

    経済学部例会, Nov. 2014, Japanese, 経済学研究科, 経済学研究科, Domestic conference

    Oral presentation

  • 我が国経常収支の動向:赤字化の可能性と対応

    Yoichi Matsubayashi

    中部経済連合経済委員会会議, Oct. 2014, Japanese, 中部経済連合, 中部経済連合, Domestic conference

    Oral presentation

  • 我が国経常収支の長期的変動と短期的変動

    Yoichi Matsubayashi

    日本国際経済学会, Oct. 2014, Japanese, 京都産業大学, 京都産業大学, Domestic conference

    Oral presentation

  • Program and Policy Evaluation Dvelopment and Application of an Area DSGE Model : Economic Stagnation in Western Japan and an Examination into its Causes

    Yoichi Matsubayashi

    The International Convention of the East Asian Economic Association, Oct. 2014, English, Chulalongkorn University, Chulalongkorn University, International conference

    Oral presentation

  • A New Solution to the Equity Premium Puzzle and the Risk-Free Rate Puzzle: Theory and Evidence

    Yoichi Matsubayashi

    日本金融学会秋季大会, Oct. 2014, Japanese, 山口大学, 山口大学, Domestic conference

    Oral presentation

  • 地域DSGEモデルの開発:関西経済への適用可能性の検証

    Yoichi Matsubayashi

    マクロモデル会議, Sep. 2014, Japanese, 日本経済研究センター, APIR, Domestic conference

    Oral presentation

  • 国際資金フロー・欧州金融機関・金融危機

    MATSUBAYASHI Yoichi

    日本金融学会秋季大会, Sep. 2013, Japanese, 日本金融学会, 名古屋大学, Domestic conference

    Oral presentation

  • 経常収支赤字化の意味

    MATSUBAYASHI Yoichi

    日経センターセミナー, Aug. 2013, Japanese, 日経センター, 日経センター, Domestic conference

    Oral presentation

  • The Potential Welfare Benefit of Capital Controls: the Case of Korea

    KITANO Shigeto, MATSUBAYASHI Yoichi

    13th SAET Conference on Current Trends in Economics, Jul. 2013, English, MINES ParisTech, MINES ParisTech, France, International conference

    Oral presentation

  • External Imbalances in Japan:past, present and future

    MATSUBAYASHI Yoichi

    Japanese Week in Brussels 2013, Mar. 2013, English, European Economic and Social Committee, Brussels, International conference

    Oral presentation

  • 国際的な相互依存の深化と東アジア関係:Global VARによる定量分析

    MATSUBAYASHI Yoichi

    日中韓シンポジウム「世界の構造変化が東アジア経済に与える影響」, Feb. 2013, Japanese, 内閣府, 内閣府, Domestic conference

    Oral presentation

  • 景気動向と個人デフォルトの関係について階層ベイズパネルプロビットモデルによる検証

    MATSUBAYASHI Yoichi

    日本金融学会秋季大会, Sep. 2012, Japanese, 日本金融学会, 北九州市立大学, Domestic conference

    Oral presentation

  • 先進諸国経済は新興国経済の足枷となるか

    MATSUBAYASHI Yoichi

    世界経済の構造転換が東アジア地域に与える影響に関する研究, Jun. 2012, Japanese, 内閣府, 内閣府, Domestic conference

    Oral presentation

  • 対外不均衡と国際資金フロー:グローバルインバランス論を超えて

    MATSUBAYASHI Yoichi

    明治大学マクロコンファランス, Jan. 2012, Japanese, 明治大学, Domestic conference

    Oral presentation

  • Capital Accumulation, Vintage, and Productivity: The Japanese Experience from 1980 to 2007

    HAGIWARA Taiji, MATSUBAYASHI Yoichi

    WIFO Seminar, Mar. 2010, English, WIFO (Öesterreichische Institut für Wirtschaftsforschung), Wien, Austria, International conference

    Oral presentation

  • Optimal Current Account in the U.S. 1976-2002

    松林 洋一

    RIEBセミナー, Mar. 2003, English, 神戸大学経済経営研究所, 神戸大学経済経営研究所, Domestic conference

    Others

Research Projects