Discussion Papers 2025
You can see the details of each paper by clicking the underlined number of the discussion paper.
Discussion Paper F series (in English)
| Number | Authors | Title | Date |
|---|---|---|---|
| CIRJE-F-1264 | Fukasawa, Takeshi and Hiroshi Ohashi | "Investment Dynamics and Merger Policy: Long-run Effects of Horizontal Merger in Oligopolistic Market" | December 2025 |
| CIRJE-F-1263 | Ragot, Xavier and Makoto Nirei | "The Origins and Propagation of Animal Spirits Shocks" | December 2025 |
| CIRJE-F-1262 | Fukunishi, Yosuke, Haorong Qiu, Akihiko Takahashi and Fan Ye | "Generating the Term Structure of Interest Rates with Diffusion Models" |
December 2025 |
| CIRJE-F-1261 | Fujii, Masaaki | "Mean-Field Price Formation on Trees: with Multi-Population and Non-Rational Agents" | October 2025; Revised in November 2025. |
| CIRJE-F-1260 | Takahashi, Akihiko and Toshihiro Yamada | "Asymptotic Expansion and Weak Approximation: Applications of Malliavin Calculus and Deep Learning" | October 2025 |
| CIRJE-F-1259 | Makino, Yusuke and Hikaru Ogawa | "Does the Global Minimum Tax Restrain Tax Competition?" | October 2025 |
| CIRJE-F-1258 | Makino, Yusuke and Hikaru Ogawa | "How the 30% Cap Reshapes Competition for Donations in Japan’s Furusato Nozei Program" | September 2025 |
| CIRJE-F-1257 | Mita, Daiya, Taiga Saito and Akihiko Takahashi | "An Incomplete Multi-Currency Equilibrium Model with Heterogeneous Time Preferences and Subjective Beliefs" | August 2025 |
| CIRJE-F-1256 | Okazaki, Tetsuji | "Short-run and Long-run Impacts of the Female Labor Force Mobilization in Japan during World War II" | August 2025 |
| CIRJE-F-1255 | Abrigo, Michael R.M., Tania Dew S. Perez, Noel Angelo M. Quejada, Erwin Doroteo Justien C. Daga, Katha Ma-i Estopace, Edmar E. Lingatong, Charlotte Marjorie L. Relos, Jesusa L. Paquibot, and Dianne Stephanie A. Gavan | "Low Fertility, Ageing Buildings, and School Congestion in the Philippines: Tailwinds, Headwinds, and Some Policy Options" | July 2025 |
| CIRJE-F-1254 | Makino, Yusuke and Hikaru Ogawa | "Ending the Race for Return Gifts: Do Gift Caps in the Furusato Nozei Program Work" | June 2025 |
| CIRJE-F-1253 | Sasaki, Yu | "Postal Growth: How the State-Sponsored Post Affected Growth in Preindustrial France, 1500–1850" | June 2025 |
| CIRJE-F-1252 | Sasaki, Yu | "Printed Drug: Banned Books and Political Change in Eighteenth-Century France" | June 2025 |
| CIRJE-F-1251 | Nose, Manabu, Yasuyuki Sawada and Tung Nguyen | "From Battlefield to Marketplace: Industrialization via Interregional Highway Investments in the Greater Mekong Sub-Region" | June 2025 |
| CIRJE-F-1250 | Hayashi, Masayoshi | "Workload and Bureaucratic Disentitlement: Evidence from Public Assistance in Japan" | May 2025 |
| CIRJE-F-1249 | Kawaguchi, Daiji, Tetsuji Okazaki and Xuanli Zhu | "Factory Automation, Labor Demand, and Market Dynamics" | May 2025 |
| CIRJE-F-1248 | Lin, Zhenwei, Masafumi Nakano and Akihiko Takahashi | "Investment with New Sentiment Analysis in Japanese Stock Market: Expert Knowledge Can Still Outperform ChatGPT" | March 2025 |
| CIRJE-F-1247 | Abe, Makoto | "Laboratory Experiments in Consumer Research: Estimating the Effect of a Manipulation-check Variable" | March 2025 |
| CIRJE-F-1246 | Okazaki, Tetsuji, Toshihiro Okubo, and Eric Strobl | "Life Insurance, Natural Disasters, and Human Capital Investment: A Case of Early 20th Century Japan" | March 2025 |
| CIRJE-F-1245 | Naito, Makoto, Taiga Saito, Akihiko Takahashi, and Kohta Takehara | "Asymptotic Expansions as Control Variates for Deep Solvers to Fully-coupled Forward-backward Stochastic Differential Equations" | March 2025 |
| CIRJE-F-1244 | Hoffmann, Mathias, Tetsuji Okazaki and Toshihiro Okubo | "Branch Banking and Regional Financial Markets: Evidence from Prewar Japan" | March 2025 |
| CIRJE-F-1243 | Okazaki, Tetsuji | "Wartime Financial Control and Allocation of Capital: The Case of Japan during World War II" | March 2025 |
| CIRJE-F-1242 | Yamamoto, Koji | "Washerwomen, Invisible Agency and the Making of a Constitutional Crisis in Charles I's London" | March 2025 |
| CIRJE-F-1241 | Saito, Taiga and Akihiko Takahashi | "Super-Long Discount Rates for Insurers in Incomplete Markets with Bond Supply Control" | February 2025; Revised in July 2025 |
| CIRJE-F-1240 | Fukuda, Shin-ichi | "Short-run and Long-run Consequences of Unconventional Monetary Policy in Japan" | February 2025 |
| CIRJE-F-1239 | Park, Albert, Yasuyuki Sawada, Menghan Shen, Sangui Wang, Heng Wang, and Ze Wang | "Mental Disorder, Altruism, and Empathy: Experimental Evidence from Middle School Students in Post-Earthquake Sichuan, China" | January 2025 |
| CIRJE-F-1238 | Fukuda, Shin-ichi and Naoto Soma | "The Evolution of Inflation Expectations in Japan" | January 2025 |
Discussion Paper J series (日本語)
| Number | Authors | Title | Date |
|---|---|---|---|
| CIRJE-J-313 | Matsushima, Hitoshi | "Institutional Trusteeship and Competition Policy in the Age of Sustainability: Designing Markets for Public Value and Responsible Power" | April 2025 |
| CIRJE-J-312 | Abe, Makoto | "Laboratory Experiments in Consumer Research: Estimating the Effects of Manipulation-check Variables" | March 2025 |