Researcher Profile and Settings

researchmap

https://researchmap.jp/mogaki

Profile

Journal Editorships
Editor, Keio Economic Studies, April 2012-March 2024.
Editor, Japanese Economic Review, August 2011-January 2016. Co-Editor, Japanese Economic Review, January 2016-March 2019.
Associate Editor, Journal of Behavioral Economics and Finance,December 2008-present.
Editor, Gendai Keizaigaku no Chouryuu, October 2009-September 2012.
Editor, Journal of Money, Credit, and Banking, September 2003-August 2009.
Associate Editor, Journal of Business & Economic Statistics, January 2001-December 2003.
Departmental Editor: Journal of Forecasting, January 1999-August 2003.
Advisory Editor: Economics Letters, March 1994-October 2011. Associate Editor: Economics Letters, October 2011-July 2012.

Research funding number

90566879

Research Interests

• Community
• Worldview
• Altruism
• Culture

Research Areas

• Humanities & social sciences / Theoretical economics / Economics, Behavioral Economics, International Economics, Macroeconomics, Econometrics, Cultural Economics

Research Experience

• Doshisha University, Faculty of Economics, 2024/04 - Today
• Keio University, Emeritus Professor, 2024/04 - Today
• Keio University, 経済学部, Professor, 2009/09 - 2024/03
• Ohio State University, Professor, 2002 - 2009
• Ohio State University, Associate Professor (with tenure), 1998 - 2002
• Ohio State University, Assistant professor, 1994 - 1998
• University of Rochester, Assistant professor, 1988 - 1994

Education

• University of Chicago, Department of Economics, 1984/09 - 1988/08
• Osaka University, Graduate School of Economics, Master's Program, 1982/04 - 1984/03
• Osaka University, Department of Economics, 1978/04 - 1982/03

Degree

• PhD (Economics), University of Chicago, Aug. 1988

Association Memberships

• Japanese Economic Association, Sep. 2009, 9999
• Association of Behavioral Economics and Finance, Dec. 2007, 9999

Committee Memberships

• Member, 2020/10 - Today, Science Council of Japan, Government
• President, 2021/05 - 2022/05, Japanese Economic Association, Society
• Executive Director, 2017/12 - 2021/12, Association of Behavioral Economics and Finance, Society
• Vice President, 2020/05 - 2021/05, Japanese Economic Association, Society
• President, 2015/11 - 2017/12, Association of Behavioral Economics and Finance, Society

Published Papers

• The Economics and Theology of the Community Mechanism
  Masao Ogaki
  Journal of Economics, Theology and Religion, 5(1), Mar. 2025
• Wealth, Financial Literacy and Behavioral Biases in Japan: the Effects of Various Types of Financial Literacy
  Shizuka Sekita; Vikas Kakkar; Masao Ogaki
  Journal of the Japanese and International Economies, 64(101190), Jun. 2022, Scientific journal
  

  DOI URL
• Economics of the community mechanism
  Masao Ogaki
  The Japanese Economic Review, 73(3) 433 - 457, Apr. 2022, Scientific journal
  

  DOI URL
• COMPARING DATA GATHERED IN AN ONLINE AND A LABORATORY EXPERIMENT USING THE TRUSTLAB PLATFORM
  Nobuyuki Hanaki; Takayuki Hoshino; Kohei Kubota; Fabrice Murtin; Masao Ogaki; Fumio Ohtake; Naoko Okuyama
  Discussion Paper No. 1168, Mar. 2022
  

  URL of the attached file
• Persistent Divides in Beliefs, Conflict, and Innovation
  Alexander Mihailov; Masao ogaki
  Keio-IES Discussion Paper, Mar. 2021, Others
  

  URL of the attached file
• Altered Functional Connectivity Associated with Time Discounting in Chronic Pain
  Kenta Wakaizumi; Rami Jabakhanji; Naho Ihara; Shizuko Kosugi; Yuri Terasawa; Hiroshi Morisaki; Masao Ogaki; Marwan N Baliki
  Scientific Reports, 9(8154) 1 - 11, 2019, Scientific journal
• Kihan Keizaigaku to Kyoudoutai (Normative Behavioral Economics and the Community)
  Masao Ogaki; Fumio Ohtake
  Journal of Behavioral Economics and Finance, 12 75 - 86, 2019, Scientific journal
• Introducing Virtue Ethics into Normative Economics for Models with Endogenous Preferences
  Vipul Bhatt; Masao Ogaki; Yuichi Yaguch
  Working Paper, Mar. 2017
  

  URL of the attached file
• Purchasing Power Parity and the Taylor Rule
  Hyeongwoo Kim; Ippei Fujiwara; Bruce E. Hansen; Masao Ogaki
  JOURNAL OF APPLIED ECONOMETRICS, WILEY-BLACKWELL, 30(6) 874 - 903, Sep. 2015, Scientific journal
  

  DOI URL
• Granger causality from exchange rates to fundamentals: What does the bootstrap test show us?
  Hsiu-Hsin Ko; Masao Ogaki
  INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, ELSEVIER SCIENCE BV, 38 198 - 206, Jul. 2015, Scientific journal
  

  DOI URL
• NORMATIVE BEHAVIOURAL ECONOMICS BASED ON UNCONDITIONAL LOVE AND MORAL VIRTUE
  Vipul Bhatt; Masao Ogaki; Yuichi Yaguchi
  JAPANESE ECONOMIC REVIEW, WILEY-BLACKWELL, 66(2) 226 - 246, Jun. 2015, International conference proceedings
  

  DOI URL
• Worldviews and Altruistic Behavior: A Progress Report on Experimental Study
  Sun Youn Lee; Hideo Akabayashi; Akiko Kamesaka; Byung-Yeon Kim; Hyeog Ug Kwon; Hyoug-Seok Lim; Masao Ogaki; Fumio Ohtake; Xiangyu Qu
  Journal of Behavioral Economics and Finance, Association of Behavioral Economics and Finance, 7 79 - 83, 2014, International conference proceedings
  

  DOI URL
• A Theory of Exchange Rates and the Term Structure of Interest Rates
  Hyoung-Seok Lim; Masao Ogaki
  REVIEW OF DEVELOPMENT ECONOMICS, WILEY-BLACKWELL, 17(1) 74 - 87, Feb. 2013, Scientific journal
  

  DOI URL
• Altruistic Economic Behaviors and Implicit Worldviews: A Progress Report
  Sun Youn Lee; Byung-Yeon Kim; Hyeog Ug Kwon; Hyoug-Seok Lim; Masao Ogaki; Fumio Ohtake
  Journal of Behavioral Economics and Finance, 6 88 - 92, 2013, International conference proceedings
• TOUGH LOVE AND INTERGENERATIONAL ALTRUISM
  Vipul Bhatt; Masao Ogaki
  INTERNATIONAL ECONOMIC REVIEW, WILEY-BLACKWELL, 53(3) 791 - 814, Aug. 2012, Scientific journal
  

  DOI URL
• Policy Evaluation Based on Moral Virtue Ethics in the Tough Love Model: A Progress Report
  Vipul Bhatt; Masao Ogaki
  Journal of Behavioral Economics and Finance, 5 249 - 251, 2012, International conference proceedings
• Worldviews, Temptation, and Intergenerational Altruism
  Kohei Kubota; Akiko Kamesaka; Masao Ogaki; Fumio Ohtake
  Keio Economic Studies, Keio Economic Society, Keio University, 48 135 - 138, 2012, Scientific journal
  

  URL
• Effects of the Great East Japan Earthquake on Subjective Well-Being.
  Takuya Ishino; Akiko Kamesaka; Toshiya Murai; Masao Ogaki
  Journal of Behavioral Economics and Finance, 5 269 - 272, 2012, International conference proceedings
• Policy Evaluation in Behavioral Economics and Unconditional Love
  Masao Ogaki
  Journal of Behavioral Economics and Finance, 4 39 - 42, 2011, International conference proceedings
• Tough Love and Discounting: Empirical Evidence
  Charles Horioka; Akiko Kamesaka; Kohei Kubota; Masao Ogaki; Fumio Ohtake
  Journal of Behavioral Economics and Finance, 3 153 - 155, 2010, International conference proceedings
• Worldviews and Tough Love
  Kohei Kubota; Charles Horioka; Akiko Kamesaka; Masao Ogaki; Fumio Ohtake
  ournal of Behavioral Economics and Finance, 3 235 - 238, 2010, International conference proceedings
• Tough Love, Intergenerational Altruism, and Worldviews
  Vipul Bhatt; Masao Ogaki
  Journal of Behavioral Economics and Finance, 2 130 - 132, 2009, International conference proceedings
• Robust estimation for structural spurious regressions and a Hausman-type cointegration test
  Chi-Young Choi; Ling Hu; Masao Ogaki
  JOURNAL OF ECONOMETRICS, ELSEVIER SCIENCE SA, 142(1) 327 - 351, Jan. 2008, Scientific journal
  

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• Structural error correction models: A system method for linear rational expectations models and an application to an exchange rate model
  Jaebeom Kim; Masao Ogaki; Minseok Yang
  JOURNAL OF MONEY CREDIT AND BANKING, WILEY-BLACKWELL, 39(8) 2057 - 2075, Dec. 2007, Scientific journal
  

  DOI URL
• Money demand in Japan and nonlinear cointegration
  Youngsoo Bae; Vikas Kakkar; Masao Ogaki
  JOURNAL OF MONEY CREDIT AND BANKING, WILEY, 38(6) 1659 - 1667, Sep. 2006, Scientific journal
  

  DOI URL
• Dynamic seemingly unrelated cointegrating regressions
  NC Mark; M Ogaki; D Sul
  REVIEW OF ECONOMIC STUDIES, REVIEW OF ECONOMIC STUDIES LTD, 72(3) 797 - 820, Jul. 2005, Scientific journal
  

  DOI URL
• Decreasing relative risk aversion, risk sharing, and the permanent income hypothesis
  C Zhang; M Ogaki
  JOURNAL OF BUSINESS & ECONOMIC STATISTICS, AMER STATISTICAL ASSOC, 22(4) 421 - 430, Oct. 2004, Scientific journal
  

  DOI URL
• Purchasing Power Parity for Traded and Non-Traded Goods: A Structural Error Correction Approach.
  Jaebeom Kim; Masao Ogaki
  Monetary and Economic Studies, 22 1 - 25, Mar. 2004, Scientific journal
• The effects of monetary policy shocks on exchange rates: A structural vector error correction model approach
  KH Jang; M Ogaki
  JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES, ACADEMIC PRESS INC ELSEVIER SCIENCE, 18(1) 99 - 114, Mar. 2004, Scientific journal
  

  DOI URL
• Aggregation under complete markets
  M Ogaki
  REVIEW OF ECONOMIC DYNAMICS, ACADEMIC PRESS INC ELSEVIER SCIENCE, 6(4) 977 - 986, Oct. 2003, Scientific journal
  

  DOI URL
• The Effects of Japanese Monetary Policy Shocks on Exchange Rates: A Structural Vector Error Correction Model Approach
  Kyungho Jang; Masao Ogaki
  Monetary and Economic Studies, 21 1 - 34, Feb. 2003, Scientific journal
• Decreasing relative risk aversion and tests of risk sharing
  M Ogaki; Q Zhang
  ECONOMETRICA, BLACKWELL PUBL LTD, 69(2) 515 - 526, Mar. 2001, Scientific journal
• The exchange rate and the term structure of interest rates in Mexico
  M Ogaki; JA Santaella
  JOURNAL OF DEVELOPMENT ECONOMICS, ELSEVIER SCIENCE BV, 63(1) 135 - 155, Oct. 2000, Scientific journal
  

  DOI URL
• Real Exchange Rates and Nontradables: A Relative Price Approach.
  Vikas Kakkar; Masao Ogaki
  Journal of Empirical Finance, 6 193 - 215, Apr. 1999, Scientific journal
• Intertemporal substitution and durable goods: long-run data
  M Ogaki; CM Reinhart
  ECONOMICS LETTERS, ELSEVIER SCIENCE SA, 61(1) 85 - 90, Oct. 1998, Scientific journal
• Measuring inter-temporal substitution: The role of durable goods
  M Ogaki; CM Reinhart
  JOURNAL OF POLITICAL ECONOMY, UNIV CHICAGO PRESS, 106(5) 1078 - 1098, Oct. 1998, Scientific journal
  

  DOI URL
• On the Granger Representation Theorem: a counter example?
  M Ogaki
  ECONOMICS LETTERS, ELSEVIER SCIENCE SA, 60(1) 19 - 21, Jul. 1998, Scientific journal
• A cointegration approach to estimating preference parameters
  M Ogaki; JY Park
  JOURNAL OF ECONOMETRICS, ELSEVIER SCIENCE SA, 82(1) 107 - 134, Jan. 1998, Scientific journal
• Rate of time preference, intertemporal elasticity of substitution, and level of wealth
  M Ogaki; A Atkeson
  REVIEW OF ECONOMICS AND STATISTICS, M I T PRESS, 79(4) 564 - 572, Nov. 1997, Scientific journal
• Consumption, Income, and Cointegration: Further Analysis.
  Hsiang-Ling Han; Masao Ogaki
  International Review of Economics and Finance, 6 107 - 117, Feb. 1997, Scientific journal
• Wealth-varying intertemporal elasticities of substitution: Evidence from panel and aggregate data
  A Atkeson; M Ogaki
  JOURNAL OF MONETARY ECONOMICS, ELSEVIER SCIENCE BV, 38(3) 507 - 534, Dec. 1996, Scientific journal
  

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• A Time Series Analysis of Real Wages, Consumption, and Asset Returns
  Thomas F. Cooley; Masao Ogaki
  Journal of Applied Econometrics, 11 119 - 134, Apr. 1996, Scientific journal
• Saving behavior in low- and middle-income developing countries - A comparison
  M Ogaki; JD Ostry; CM Reinhart
  INTERNATIONAL MONETARY FUND STAFF PAPERS, INT MONETARY FUND, 43(1) 38 - 71, Mar. 1996, Scientific journal
• Unit Roots in Macroeconometrics: A Survey.
  Masao Ogaki
  Monetary and Economic Studies, 11 131 - 154, Nov. 1993, Scientific journal
• Generalized Method of Moments : Econometric Applications
  OGAKI M.
  Handbook of Statistics, Elsevier Science Publishers, 11 455 - 487, 1993
  

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• COTRENDING AND THE STATIONARITY OF THE REAL INTEREST-RATE
  DA CHAPMAN; M OGAKI
  ECONOMICS LETTERS, ELSEVIER SCIENCE SA LAUSANNE, 42(2-3) 133 - 138, 1993, Scientific journal
• ENGEL LAW AND COINTEGRATION
  M OGAKI
  JOURNAL OF POLITICAL ECONOMY, UNIV CHICAGO PRESS, 100(5) 1027 - 1046, Oct. 1992, Scientific journal
• A CONSISTENT TEST FOR THE NULL OF STATIONARITY AGAINST THE ALTERNATIVE OF A UNIT-ROOT
  JA KAHN; M OGAKI
  ECONOMICS LETTERS, ELSEVIER SCIENCE SA LAUSANNE, 39(1) 7 - 11, May 1992, Scientific journal
• EFFICIENCY BOUND CALCULATIONS FOR A TIME-SERIES MODEL, WITH CONDITIONAL HETEROSKEDASTICITY
  JC HEATON; M OGAKI
  ECONOMICS LETTERS, ELSEVIER SCIENCE SA, 35(2) 167 - 171, 1991, Scientific journal
• THE INDIRECT AND DIRECT SUBSTITUTION EFFECTS
  M OGAKI
  AMERICAN ECONOMIC REVIEW, AMER ECON ASSN, 80(5) 1271 - 1275, Dec. 1990, Scientific journal
• A CHI-SQUARE TEST FOR A UNIT-ROOT
  JA KAHN; M OGAKI
  ECONOMICS LETTERS, ELSEVIER SCIENCE SA LAUSANNE, 34(1) 37 - 42, Sep. 1990, Scientific journal
• EFFICIENCY BOUNDS IMPLIED BY MULTIPERIOD CONDITIONAL MOMENT RESTRICTIONS
  LP HANSEN; JC HEATON; M OGAKI
  JOURNAL OF THE AMERICAN STATISTICAL ASSOCIATION, AMER STATISTICAL ASSOC, 83(403) 863 - 871, Sep. 1988, Scientific journal

MISC

• CONFERENCE ON NORMATIVE ECONOMICS FROM THE TRADITIONAL AND NONTRADITIONAL VIEWS: INTRODUCTION
  Masao Ogaki; Toyotaka Sakai
  JAPANESE ECONOMIC REVIEW, WILEY-BLACKWELL, 66(2) 147 - 149, Jun. 2015, Others
  

  DOI URL
• An Activity Report of Association of Behavioral Economics and Finance
  OHTAKE Fumio; OGAKI Masao
  Oukan (Journal of Transdisciplinary Federation of Science and Technology), Transdisciplinary Federation of Science and Technology, 9(2) 110 - 112, 2015, Introduction scientific journal
  

  DOI URL
• Symposium
  Ike Michihiko; Bando Masako; Kume Shoen; Kondo Kae; Ogaki Masao; Ohtake Fumio
  JBEF, Association of Behavioral Economics and Finance, 7 101 - 129, 2014, Introduction scientific journal
  

  DOI URL
• 「最悪」の可能性をどう伝えるか 行動経済学の知見を生かせ
  大垣 昌夫; 大竹 文雄
  エコノミスト, 毎日新聞社, 89(26) 80 - 82, 07 Jun. 2011

Books etc

• 進化する経済学の実証分析
  経済セミナー編集部
  日本評論社, Aug. 2020, Contributor
• 行動経済学 -- 伝統的経済学との統合による新しい経済学を目指して 新版
  大垣 昌夫; 田中 沙織
  有斐閣, Dec. 2018, Joint work
  

  Amazon URL
• やさしい行動経済学 (日経ビジネス人文庫)
  日本経済新聞社
  日本経済新聞出版社, Dec. 2017, Contributor
  

  Amazon URL
• ビジネスマンのための資本主義入門 週刊エコノミストebooks
  萱野 稔人; 吉川 洋; 木本 伸; アンヘル・グリア; 竹田 青嗣; 諸富 徹; 大垣 昌夫; 関 良基; 鷲田 豊明; 橋本 努; 井上 智洋; 米倉 茂; 週刊エコノミスト編集部
  毎日新聞出版, Aug. 2017, Contributor
  

  Amazon URL
• Behavioral Economics : Toward a new economics by integration with traditional economics
  Masao Ogaki; Saori C. Tanaka
  Springer, 2017
• こころ動かす経済学
  日本経済新聞社
  日本経済新聞出版社, Oct. 2015, Contributor
  

  Amazon URL
• Behavioral interactions, markets, and economic dynamics : topics in behavioral economics
  Vipul Bhatt; Masao Ogaki
  This chapter develops and studies a tough love model of intergenerational altruism. We model tough love by modifying the Barro-Becker standard altruism model in two ways. First, the child's discount factor is endogenously determined, so lower childhood consumption leads to a higher discount factor later in life. Second, the parent evaluates the child's lifetime utility with a constant high discount factor. Our model predicts that parental transfers will fall when the child's discount factor falls. This is in contrast with the standard altruism model, which predicts that parental transfers are independent of exogenous changes in the child's discount factor., Springer Japan, Sep. 2015, Contributor, Tough love and intergenerational altruism
• 行動経済学 -- 伝統的経済学との統合による新しい経済学を目指して
  大垣 昌夫; 田中 沙織
  有斐閣, 31 Mar. 2014, Joint work
  

  Amazon URL
• 現代経済学の潮流〈2012〉
  大垣 昌夫; 小西 秀樹; 田渕 隆俊; 小川 一夫
  東洋経済新報社, Jul. 2012, Editor
  

  Amazon URL
• 現代経済学の潮流 2011
  阿部 顕三; 大垣 昌夫; 小川 一夫; 田渕 隆俊
  東洋経済新報社, Jul. 2011, Editor
  

  Amazon URL
• 現代経済学の潮流２０１０
  池田 新介; 大垣 昌夫; 柴田 章久; 田渕 隆俊
  東洋経済新報社, Aug. 2010, Editor
  

  Amazon URL

Presentations

• Persistent Divides in Beliefs, Conflict and innovation.
  Masao Ogaki
  Society for the Advancement of Economic Theory, 11 Jun. 2018, Oral presentation
• Introducing Virtue Ethics into Normative Economics for Models with Endogenous Preferences.
  Masao Ogaki
  2nd EUROPEAM WORKSHOP ON POLITICAL MACROECONOMICS(EWPM)2017, 09 Oct. 2017, Invited oral presentation

Research Projects

• Structure and change of broader inequality since the COVID-19 crisis: Economics research based on household panel data
  山本 勲; 赤林 英夫; 直井 道生; 大垣 昌夫; 駒村 康平; 土居 丈朗; 大津 敬介; McKenzie Colin; 大久保 敏弘; 佐藤 一磨; 川本 哲也; 中村 亮介; 瀬古 美喜; 隅田 和人; 奥山 尚子; 窪田 康平; 山田 篤裕; 井深 陽子; 別所 俊一郎; 寺井 公子; 北尾 早霧; Hsu Minchung
  Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 2022/04 -2027/03, Grant-in-Aid for Specially Promoted Research, Keio University
• An internationally comparable individual longitudinal experimental study of intertemporal and interindividual variability in trust, reciprocity, and altruism
  大垣 昌夫; 星野 崇宏; 山本 勲; 窪田 康平; 大竹 文雄; 花木 伸行; 奥山 尚子
  本研究の目的は、社会関係資本と社会的選好の時間的・空間的特性の分析によって協力的な経済行動の理論・実証研究を進めることである。2021年度の理論研究の成果として、信頼等の社会関係資本と利他性と応報性等の社会的選好が、パンデミック等による危機の時代に必要性が増す共同体メカニズムに、どのように寄与するかについての知見を深めた。実証研究の実績としては、2021年度應義塾大学パネルデータ設計・解析センター (PDRC) が我が国の代表的サンプルを対象に個人追跡調査をしているJHPS/KHPSのモジュール制度を活用して本調査でアンケート質問によって信頼・地域の結束・利他性を測ることを開始した。次年度以降に同じ質問を用いて個人追跡調査を行うことによってこれらの変数の時間的な変化を測定することができるようになった。また、次年度はこの調査の協力者に招待状を送ってオンライン実験調査を実施して信頼・応報性・利他性等を測定する計画であるため、このための調査方法と調査体制の準備を進めた。まず、2022年度にオンライン実験調査は国際比較可能であるようにOrganisation for Economic Co-operation and Development (OECD) の Trustlabプロジェクトの実験プラットフォームと同様の実験結果が得られると予測できる新しい実験プラットフォームを開発した。これは、TrustlabプラットフォームをJHPS/KHPSの協力者に用いるには単にTrustlabを日本で実施する以上にOECDへの委託契約が複雑になる等の実施上のさまざまな困難が予想されるからである。PDRCにはJSPS部門と、別の家計パネル調査のためのJPSC部門の2部門が存在するが本研究のためのオンライン実験を実施するために、社会関係資本部門の新設をPDRCのセンター委員会に提案し、承認された。, Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Challenging Research (Pioneering), 2021/07 -2024/03, Grant-in-Aid for Challenging Research (Pioneering), Keio University
• 長寿社会における世代間移転と経済格差： パネルデータによる政策評価分析
  樋口 美雄; 山本 勲; 敷島 千鶴; 駒村 康平; 瀬古 美喜; 土居 丈朗; 大垣 昌夫; McKenzie Colin; 黒田 祥子; 鶴 光太郎; 大久保 敏弘; 隅田 和人; 直井 道生; 山田 篤裕; 別所 俊一郎; 寺井 公子; 井深 陽子; 北村 行伸; 赤林 英夫
  本研究では、長寿社会と経済格差の関係に焦点を当て、長寿社会に起因する経済格差の発生メカニズム、さらには、経済格差が長寿社会での人々の暮らしや働き方、健康、社会経済の諸制度・政策、消費行動・生産行動、資産形成、結婚、出産などの家族形成、保育・教育などの次世代育成などに与える影響について、三世代の世帯（同居・非同居）を含む多様な家計を追跡するパネルデータの構築・解析を通じて多角的に研究する。 本年度は、長寿社会における経済格差研究に関する理論的・実証的研究を整理・評価するとともに、「日本家計パネル調査（JHPS）」や「JHPS第二世代付帯調査（JHPS-G2）」（非同居の家族も含めたJHPS調査回答者の子世代への調査）、「JHPS新型コロナウイルス感染症に関する特別調査（JHPS-COVID19）」（新型コロナウイルス感染症が家計に与えた影響に関するJHPS回答者への特別調査）などの家計パネルデータ等を用いながら、各研究班で設定したテーマに沿って分析を進めた。各研究班の研究実績としては、論文53本（うち査読付論文18本）および図書10冊となった。 パネル調査については、JHPSの本調査を実施するとともにJHPS-G2やJHPS-COVID19といった補完的な調査も実施した。JHPS-COVID19の実施は当初は計画していなかったが、パンデミックの家計への影響をリアルタイムで把握するため、2020年5月と10月の特別調査として実施した。さらに、日本を代表するパネルデータとして、ルクセンブルク所得研究（LIS）やオハイオ州立大学（CNEF）による国際データベースへのJHPSの提供を継続した。このほか、パネルデータの質の維持・向上のため、「日本家計パネル調査」のサンプリングバイアスの修正を行うウェイトを作成・提供した。, 日本学術振興会, 科学研究費助成事業, 2017/04 -2022/03, 特別推進研究, 慶應義塾大学
• Empirical and Theoretical Research on the Community Mechanism by Behavioral Economics
  Ogaki Masao
  In order to study the community mechanism, which is expected to become more important due to the falling birthrate and aging population, which will exacerbate the problem of government budget deficits, etc., this project has constructed panel data over three waves of online experimental and questionnaire surveys based on behavioral economics methods. This survey is part of a major project of the OECD's Trustlab, which has been conducted in nine countries so far with a representative sample of more than 1,000 people in each country, but Japan is the only country for which panel data have been constructed. In analyzing the data to date, we have found that trust, altruism, and reciprocity measured in incentivized experiments have changed significantly, with positive correlations, from the first wave to the second wave, which were spaced about 6 months apart., Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (A), 2019/04 -2022/03, Grant-in-Aid for Scientific Research (A), Keio University
• Investigation of the long-term causal effect of economic inequality on educational inequality based on longitudinal survey and experiments of parent-child pairs and international comparison
  Akabayashi Hideo
  The aim of this study was to discover evidence on the causal relationship between economic disparity and educational disparity. For that purpose, we established a high-quality long-term data base for parents and children, and conducted empirical and experimental studies. Specifically, utilizing academic achievement data equated by the test theory, we conducted international comparative studies of the correlation between academic achievement disparities and economic disparities, an experimental study of the impact of parental values on children's non-cognitive abilities in Japan and the U.S., and a causal analysis of the impact of the child allowance policy in Japan on the parents' educational expenditures and children's academic achievement., Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 2016/05 -2021/03, Grant-in-Aid for Scientific Research (S), Keio University
• Analysis on financial markets and economic policy using internationally comparable data
  Kamesaka Akiko
  We conducted investor survey with Prof. Robert Schiller, Nobel prize recipient, and published journal articles and many other outputs both in English and Japanese. We also held an international seminar jointly with German Institute for Japanese Studies, and its outputs were published as a book from Springer in English. Akiko Kamesaka was also invited to present our research outcomes at Swedish embassy in Tokyo etc., and our research outputs were made public in various ways., Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 2016/04 -2021/03, Grant-in-Aid for Scientific Research (B), Aoyama Gakuin University
• 保育の実証研究に基づいた行動経済学による共同体メカニズムの研究
  大垣昌夫
  サントリー文化財団, 人文科学、社会科学に関する学際的グループ研究助成, 2018 -2019, Principal investigator, Competitive research funding
• 長寿社会における社会経済学と長寿関連技術の実証・規範経済学分析
  大垣昌夫
  慶應義塾大学, クラスター研究推進プロジェクトプログラム, 2015 -2018, Principal investigator, Competitive research funding
• 人間行動と経済動学の分析と政策
  大垣昌夫
  日本学術振興会, 学術研究助成基金助成金, 2013/04 -2016/03, Principal investigator, Competitive research funding
• Dynamism of economic disparities: Panel analysis of employment, education, health and redistribution policy
  HIGUCHI Yoshio; YAMAMOTO Isamu; ONO Yukako; OHTA Souichi; KAWAI Hiroki; KURODA Sachiko; TANAKA Ryuichi; AKABAYASHI Hideo; SANO Shinpei; SEKO Miki; SUMITA Kazuto; NAOI Michio; KOMAMURA Kohei; YAMADA Atsuhiro; ABE Aya; DOI Takero; OGAKI Masao; MCKENZIE Colin; BESSHO Shunichiro; TERAI Kimiko; TSURU Kotaro; SAKAMOTO Kazuyasu; SHIKISHIMA Chizuru; OKUBO Toshihiro; NOZAKI Kayo; SEIKE Atsushi; KONDO Ayako; SENOH Wataru; ISHINO Takuya; SHIKATA Masato; TANAKA Soichiro; KITAMURA Yukinobu; MATSUURA Toshiyuki; ISHII Kayoko; KAMESAKA Akiko; YUKAWA Shiho; SATO Kazuma; HAGIWARA Risa; FUKAHORI Ryotaro; KOBAYASHI Toru
  Using panel data collected every year on households, this project undertook multifaceted research on economic disparities. There are two parts of this research project. Regarding the first part, the design, analysis and public release of panel data set, the number of research projects that used the JHPS/KHPS has amounted to 1,112 during fiscal year 2012-2016. Regarding the second part, multifaceted and dynamic research on economic disparities, we conducted various research from the view point of five research groups: Labor Economics Group; Economics of Education Group; Asset Stock Group; Social Security Group; and Public Finance Group., Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 2012 -2016, Grant-in-Aid for Specially Promoted Research, Keio University
• Human Behavior and Economic Dynamics
  OHGAKI Masao; OHTAKE Fumio; KAMESAKA Akiko; HORIOKA C.y
  In our research on the effect of culture and wordview on altruisticintergenerational economic behavior, we have studied effects of time discounting factorsof parents on their altruistic behavior toward their children, effects of worldviews ofparents on al, Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research, 2010/04 -2012/03, Principal investigator, Competitive research funding, Grant-in-Aid for Scientific Research (B), Keio University
• Studies on Wealth-Varying Intertemporal Elasticities of Substitution
  Andrew Atkeson; Masao Ogaki
  National Science Foundation, 1992 -1994, Principal investigator, Competitive research funding

Others

• 週刊エコノミスト 2024 12/3号
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• 東洋経済ONLINE
  2018/12 -2018/12, 社会で大切なことは｢無条件の愛｣の学習だ ----- 共同体メカニズムをどう政策に導入すべきか https://toyokeizai.net/articles/-/255769
• 東洋経済ONLINE
  2018/10 -2018/10, 経済学は「人としての成長」を促進できるか～利他性や忍耐強さを身に付ける方法とは？～ https://toyokeizai.net/articles/-/240835
• 東洋経済ONLINE
  2018/08 -2018/08, 行動経済学が解明を目指す｢幸福｣の正体～重要なのは使命感や利他性を養う教育だ～ https://toyokeizai.net/articles/-/233198
• 東洋経済ONLINE
  2018/06 -2018/06, 超高齢化時代は｢共同体メカニズム｣が重要だ～行動経済学者が考える新時代のリーダー論～ https://toyokeizai.net/articles/-/223412