Masao Fukui

I am an Assistant Professor at Boston University.

My research interests are macroeconomics and international economics. 

Contact information:

Email: fukuimasao@gmail.com, mfukui@bu.edu

Phone: +1(857)500-3712

CV: pdf

Research:

Sticky Discount Rates
(with Kilian Huber and Niels Joachim Gormsen) [Online Supplement]

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

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

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]

Discussions:

George Alessandria, Yan Bai, Soo Kyung Woo, Rising Current Account Dispersion: Financial or Trade Integration?.
Discussion at 3rd International Finance/Macro/Trade Conference, February 2024.

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.

Teaching:

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

502 Macroeconomics (master's core course):

Lecture notes (building on lecture notes by Chad Jones, Stephen Terry, Pascual Restrepo, Jón Steinsson, Toshi Mukoyama)

Topic 0: Introduction

Topic 1: Development and Growth Accounting

Topic 2: Capital Accumulation and Growth

Topic 3: Ideas and Growth

Topic 4: Misallocation

Topic 5: Labor Supply