Taisuke Nakata

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

SCHOLARLY PAPERS

26

DOWNLOADS
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Top 35,670

in Total Papers Downloads

1,623

SSRN CITATIONS
Rank 5,417

SSRN RANKINGS

Top 5,417

in Total Papers Citations

161

CROSSREF CITATIONS

85

Scholarly Papers (26)

1.

Financial Stability and Optimal Interest-Rate Policy

FEDS Working Paper No. 2016-067
Number of pages: 72 Posted: 19 Aug 2016
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 273 (136,910)
Citation 12

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Financial crises, Financial stability and risk, Leverage, Monetary policy, Optimal policy

2.

The Potential Role of Subordinated Debt Programs in Enhancing Market Discipline in Banking

FRB of Kansas City Economic Research Paper No. 07-07
Number of pages: 44 Posted: 14 Sep 2007 Last Revised: 12 Mar 2013
Douglas D. Evanoff, Julapa Jagtiani and Taisuke Nakata
Federal Reserve Bank of Chicago, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Board of Governors of the Federal Reserve System
Downloads 214 (173,573)
Citation 7

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Financial regulation, market discipline, subordinated debt, bank capital

The Risky Steady State and the Interest Rate Lower Bound

ECB Working Paper No. 1913
Number of pages: 55 Posted: 19 Jun 2016
Timothy Hills, Taisuke Nakata and Sebastian Schmidt
New York University (NYU), Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 87 (351,767)

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deflationary bias, disinflation, inflation targeting, risky steady state, tail risk

The Risky Steady State and the Interest Rate Lower Bound

FEDS Working Paper No. 2016-9
Number of pages: 52 Posted: 15 Feb 2016
Timothy Hills, Taisuke Nakata and Sebastian Schmidt
New York University (NYU), Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 39 (523,738)
Citation 3

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Deflationary Bias, Disinflation, Inflation Targeting, Risky Steady State, Tail Risk, Zero Lower Bound

4.
Downloads 117 (286,833)
Citation 17

Conservatism and Liquidity Traps

ECB Working Paper No. 1816
Number of pages: 49 Posted: 23 Jun 2015
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 49 (477,271)

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Deflationary Bias; Inflation Conservatism; Inflation Targeting; Liquidity Traps; Zero Lower Bound

Conservatism and Liquidity Traps

FEDS Working Paper No. 2014-105
Number of pages: 46 Posted: 09 Jan 2015
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 39 (523,738)
Citation 6

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Discretion, inflation conservatism, inflation targeting, liquidity traps, zero lower bound

Conservatism and Liquidity Traps

Tokyo Center for Economic Research (TCER) Paper No. E-101
Number of pages: 48 Posted: 27 Nov 2015
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 29 (579,937)
Citation 10

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5.

Monetary Policy Options at the Effective Lower Bound: Assessing the Federal Reserve'S Current Policy Toolkit

FEDS Working Paper No. 2019-3
Number of pages: 63 Posted: 07 Feb 2019 Last Revised: 21 Feb 2019
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 79 (369,417)
Citation 14

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6.

Optimal Fiscal and Monetary Policy with Occasionally Binding Zero Bound Constraints

FEDS Working Paper No. 2013-40
Number of pages: 31 Posted: 31 Jul 2013
Taisuke Nakata
Board of Governors of the Federal Reserve System
Downloads 78 (372,174)
Citation 30

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Fiscal policy, government spending, occasionally binding constraints, liquidity trap, zero lower bound, Markov-perfect equilibria, commitment

7.

Uncertainty at the Zero Lower Bound

FEDS Working Paper No. 2013-09
Number of pages: 38 Posted: 04 Apr 2013
Taisuke Nakata
Board of Governors of the Federal Reserve System
Downloads 76 (377,667)
Citation 18

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Occasionally binding constraints, liquidity trap, zero lower bound, uncertainty

Average Inflation Targeting and the Interest Rate Lower Bound

BIS Working Paper No. 852
Number of pages: 29 Posted: 15 Apr 2020
Flora Budianto, Taisuke Nakata and Sebastian Schmidt
Bank for International Settlements (BIS), Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 55 (452,959)

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monetary policy objectives, makeup strategies, liquidity trap, deflationary bias, expectations

Average Inflation Targeting and the Interest Rate Lower Bound

ECB Working Paper No. 2394
Number of pages: 31 Posted: 20 Apr 2020
Taisuke Nakata, Sebastian Schmidt and Flora Budianto
Board of Governors of the Federal Reserve System, European Central Bank (ECB) and Bank for International Settlements (BIS)
Downloads 18 (658,882)

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deflationary bias, expectations, liquidity trap, makeup strategies, monetary policy objectives

Average Inflation Targeting and the Interest Rate Lower Bound

CEPR Discussion Paper No. DP14400
Number of pages: 24 Posted: 03 Mar 2020
Flora Budianto, Taisuke Nakata and Sebastian Schmidt
Bank for International Settlements (BIS), Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 1 (807,299)
Citation 3
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Average Inflation Targeting, Deflationary Bias, liquidity trap, Makeup Strategies, Monetary Policy Objectives

Expectations-Driven Liquidity Traps: Implications for Monetary and Fiscal Policy

ECB Working Paper No. 2304
Number of pages: 54 Posted: 01 Aug 2019
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 59 (437,598)
Citation 1

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discretion, effective lower bound, fiscal policy, monetary policy, policy delegation, sunspot equilibria

Expectations-Driven Liquidity Traps: Implications for Monetary and Fiscal Policy

FEDS Working Paper No. 2019-053
Number of pages: 50 Posted: 25 Jul 2019 Last Revised: 21 Oct 2019
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 10 (723,396)

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Effective Lower Bound, Sunspot Equilibria, Monetary Policy, Fiscal Policy, Discretion, Policy Delegation

10.

Equilibrium Yield Curves and the Interest Rate Lower Bound

FEDS Working Paper No. 2016-085
Number of pages: 65 Posted: 08 Nov 2016
Taisuke Nakata and Hiroatsu Tanaka
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 62 (420,915)
Citation 3

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Effective Lower Bound, Forward Guidance, New Keynesian Model, Recursive Preference, Term Premiums, Term Structure of Interest Rates, Yield Curves

11.
Downloads 62 (420,915)
Citation 11

Reputation and Liquidity Traps

FEDS Working Paper No. 2014-50
Number of pages: 63 Posted: 30 Jul 2014
Taisuke Nakata
Board of Governors of the Federal Reserve System
Downloads 31 (567,565)
Citation 2

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credible policy, forward guidance, reputation, sustainable plan, time consistency, trigger strategy, zero lower bound

Reputation and Liquidity Traps

Tokyo Center for Economic Research (TCER) Paper No. E-87
Number of pages: 64 Posted: 26 Dec 2014
Taisuke Nakata
Board of Governors of the Federal Reserve System
Downloads 31 (567,565)
Citation 2

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12.

Fiscal Multipliers at the Zero Lower Bound: The Role of Policy Inertia

FEDS Working Paper No. 2014-107
Number of pages: 44 Posted: 04 Jan 2015
Timothy Hills and Taisuke Nakata
New York University (NYU) and Board of Governors of the Federal Reserve System
Downloads 45 (485,625)
Citation 10

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Fiscal Policy, Government Spending Multipliers, Interest Rate Smoothing, Liquidity Trap, Zero Lower Bound

13.
Downloads 44 (489,984)
Citation 1

The Risk-Adjusted Monetary Policy Rule

ECB Working Paper No. 1985
Number of pages: 24 Posted: 03 Feb 2017
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 27 (593,131)

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effective lower bound, inflation targeting, monetary policy rule, risk, risky steady state

The Risk-Adjusted Monetary Policy Rule

FEDS Working Paper No. 2016-061
Number of pages: 22 Posted: 10 Aug 2016
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 17 (666,492)

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Effective Lower Bound, Inflation Targeting, Monetary Policy Rule, Risk, Risky Steady State

14.

Optimal Government Spending at the Zero Lower Bound: A Non-Ricardian Analysis

FEDS Working Paper No. 2015-038, http://dx.doi.org/10.17016/FEDS.2015.038
Number of pages: 35 Posted: 20 Jun 2015
Taisuke Nakata
Board of Governors of the Federal Reserve System
Downloads 39 (512,634)
Citation 5

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Commitment, Distortionary Taxation, Government Spending, Liquidity Trap, Nominal Debt, Optimal Policy, Zero Lower Bound

Attenuating the Forward Guidance Puzzle: Implications for Optimal Monetary Policy

ECB Working Paper No. 2220, Kenan Institute of Private Enterprise Research Paper No. 19-5
Number of pages: 47 Posted: 14 Jan 2019
Taisuke Nakata, Ryota Ogaki, Sebastian Schmidt and Paul Yoo
Board of Governors of the Federal Reserve System, University of Tokyo, European Central Bank (ECB) and University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School
Downloads 20 (643,616)
Citation 4

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forward guidance, optimal policy, discounted euler equation, discounted phillips curve, effective lower bound

Attenuating the Forward Guidance Puzzle: Implications for Optimal Monetary Policy

FEDS Working Paper No. 2018-049
Number of pages: 45 Posted: 23 Jul 2018 Last Revised: 21 Feb 2019
Taisuke Nakata, Ryota Ogaki, Sebastian Schmidt and Paul Yoo
Board of Governors of the Federal Reserve System, University of Tokyo, European Central Bank (ECB) and University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School
Downloads 18 (658,882)
Citation 3

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Discounted euler equation, Discounted phillips curve, Effective lower bound, Forward guidance, Optimal policy

16.

Strengthening the Fomc's Framework in View of the Effective Lower Bound and Some Considerations Related to Time-Inconsistent Strategies

FEDS Working Paper No. 2020-067
Number of pages: 42 Posted: 02 Sep 2020
Federal Reserve Bank of New York, Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago and Board of Governors of the Federal Reserve System
Downloads 35 (532,259)

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Monetary policy, Effective lower bound, Forward guidance, Balance sheet policies, Commitment policies, Time inconsistency

Speed Limit Policy and Liquidity Traps

ECB Working Paper No. 2192
Number of pages: 30 Posted: 02 Nov 2018
Taisuke Nakata, Sebastian Schmidt and Paul Yoo
Board of Governors of the Federal Reserve System, European Central Bank (ECB) and University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School
Downloads 20 (643,616)

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liquidity traps, Markov-Perfect Equilibrium, speed limit policy, zero lower bound

Speed Limit Policy and Liquidity Traps

FEDS Working Paper No. 2018-050
Number of pages: 28 Posted: 23 Jul 2018 Last Revised: 21 Feb 2019
Taisuke Nakata, Sebastian Schmidt and Paul Yoo
Board of Governors of the Federal Reserve System, European Central Bank (ECB) and University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School
Downloads 15 (682,274)

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Liquidity traps, Markov-perfect equilibrium, Speed limit policy, Zero lower bound

18.

Credible Forward Guidance

FEDS Working Paper No. 2019-037
Number of pages: 50 Posted: 17 Jul 2019
Taisuke Nakata and Takeki Sunakawa
Board of Governors of the Federal Reserve System and Kobe University
Downloads 32 (547,925)
Citation 1

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Credibility, Effective Lower Bound, Forward Guidance, Sustainable Plan, Time-Consistency

19.

Welfare Costs of Shifting Trend Inflation

FEDS Working Paper No. 2013-12
Number of pages: 21 Posted: 06 Apr 2013
Taisuke Nakata
Board of Governors of the Federal Reserve System
Downloads 27 (576,763)

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Great inflation, second-order approximation, trend inflation, welfare

20.

Effective Lower Bound Risk

FEDS Working Paper No. 2019-077
Number of pages: 63 Posted: 27 Nov 2019
Timothy Hills, Taisuke Nakata and Sebastian Schmidt
New York University (NYU), Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 24 (595,961)
Citation 6

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Deflationary Bias, Disinflation, Effective Lower Bound, Inflation Targeting, Risky Steady State, Tail Risk

21.
Downloads 21 (615,991)
Citation 12

Gradualism and Liquidity Traps

ECB Working Paper No. 1976
Number of pages: 31 Posted: 03 Feb 2017
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 16 (674,221)

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gradualism, inflation targeting, interest-rate smoothing, liquidity traps, zero lower bound

Gradualism and Liquidity Traps

FEDS Working Paper No. 2016-092
Number of pages: 30 Posted: 21 Nov 2016
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 5 (765,512)
Citation 11

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Gradualism, Inflation Targeting, Interest-Rate Smoothing, Liquidity Traps, Zero Lower Bound

22.

Small Sample Properties of Bayesian Estimators of Labor Income Processes

FEDS Working Paper No. 2014-25
Number of pages: 38 Posted: 10 Apr 2014
Taisuke Nakata and Christopher Tonetti
Board of Governors of the Federal Reserve System and New York University (NYU)
Downloads 20 (622,883)
Citation 1

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Labor income process, small sample properties, GMM, bayesian estimation, error component models

23.

A Promised Value Approach to Optimal Monetary Policy

FEDS Working Paper No. 2018-083
Number of pages: 65 Posted: 05 Dec 2018 Last Revised: 21 Feb 2019
Timothy Hills, Taisuke Nakata and Takeki Sunakawa
New York University (NYU), Board of Governors of the Federal Reserve System and Kobe University
Downloads 17 (643,668)

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Commitment, Inflation bias, Optimal policy, Ramsey plans, Stabilization bias, Zero lower bound

24.

Optimal Inflation Target with Expectations-Driven Liquidity Traps

FEDS Working Paper No. 2019-036
Number of pages: 31 Posted: 25 Jul 2019 Last Revised: 21 Oct 2019
Taisuke Nakata and Philip Coyle
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 16 (650,704)

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Liquidity Traps, Optimal Inflation Target, Sunspot Shock, Zero Lower Bound

25.

Raising the Inflation Target: Lessons from Japan

FEDS Notes No. 2020-01-08-1 https://doi.org/10.17016/2380-7172.2493
Posted: 07 May 2020
Taisuke Nakata
Board of Governors of the Federal Reserve System

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26.

Optimal Monetary Policy in a DSGE Model with Attenuated Forward Guidance Effects

FEDS Notes No. 2018-10-19
Posted: 10 Oct 2018 Last Revised: 02 Oct 2020
Hess Chung, Taisuke Nakata and Matthias O. Paustian
Indiana University Bloomington - Department of Economics, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System

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