Masao Fukui

I am an Assistant Professor at Boston University.

My research interests are macroeconomics and international economics. 

Contact information:


Phone: +1(857)500-3712

CV: pdf


The Macroeconomic Consequences of Exchange Rate Depreciations
(with Emi Nakamura and Jón Steinsson)

Unpacking Aggregate Welfare in a Spatial Economy
(with Yuhei Miyauchi and Eric Donald)

Currency Pegs, Trade Imbalances and Unemployment: A Reevaluation of the China Shock
(with Bumsoo Kim and Marc de la Barrera)

The Impact of Central Bank Stock Purchases: Evidence from Discontinuities in Policy Rules
(with Masayuki Yagasaki)

Globalization and the Ladder of Development: Pushed to the Top or Held at the Bottom?
(with David Atkin and Arnaud Costinot)
R&R, Review of Economics Studies

A Theory of Wage Rigidity and Unemployment Fluctuations with On-the-Job Search

Optimal Dynamic Spatial Policy [Preliminary]
(with Eric Donald and Yuhei Miyauchi)

Women, Wealth Effects, and Slow Recoveries
(with Emi Nakamura and Jón Steinsson)
American Economic Journal: Macroeconomics, 2023

Asset Quality Cycles
Journal of Monetary Economics, 2018 [Working paper version with appendix]


Serdar Birinci, Fatih Karahan, Yusuf Mercan, and Kurt See, Labor Market Shocks and Monetary Policy.
Discussion at SF Fed Macroeconomics and Monetary Policy Conference, March 2023.

Andres Blanco, Andres Drenik, Christian Moser, and Emilio Zaratiegui, A Theory of Non-Coasean Labor Markets.
Discussion at NBER ME meeting, November 2022.


704b Macroeconomics (first-year PhD course): Syllabus