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Osaka School of International Public Policy

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ISHISE-Hirokazu-sensei-OSIPP

ISHISE, Hirokazu

Field of Research

Macroeconomics, International Economics

Research Topics

Theoretical and Empirical Analysis of Business Cycles, Trade, Monetary Policy, and Economic Development

Overview of Research

What drives the changes in aggregate variables such as GDP, consumption, inflation rate, exports and imports, and exchange rates? Some branches of economics, macroeconomics and international economics examine the determinants of aggregate variables based on the micro behavior of economic agents (e.g., households, firms, governments, banks). I have been working on theoretical and empirical studies addressing the nexus between macroeconomics (business cycles and economic growth) and international economics (trade and international finance).

One particular study examines the heterogeneous response to changes in transportation costs according to the vintage of capital goods. In addition to existing research that examines productivity-driven exporting status, I provide new empirical predictions about vintage and exporting status. New machines are more productive, and hence more likely to be in operation. Furthermore, among new machines, top-tier machines are used for exporting. Old machines are not only few due to retirement but also less productive due to embodied vintage technology.

Figure 6. Ishise (2016), “Capital heterogeneity as a source of comparative advantage: Putty-clay technology in a Ricardian model,” Journal of International Economics, 99: 223–236.

In recent years, I have undertaken theoretical and empirical research on the interaction of the nominal side (inflation, nominal exchange rate) and international trade. For example, I demonstrate that a country with low inflation has a comparative advantage in an industry that has sticky input prices.

Message to Students

An economic model is a powerful tool to forecast potential effects of a policy intervention. However, a slightly different model can present exactly opposite results. We need to examine the assumptions of the model carefully, whether the assumptions are plausible, what happens if one of the assumptions is modified, and what kind of data we can use to validate the assumptions.

Similarly, using statistical methods is a powerful tool to check the effects of a past policy intervention. However, a similar statistical model or data sometimes reveals exactly opposite results. We need to examine the assumptions of the statistical method carefully, as well as what kind of logic (model) validates the statistical methods.

In actual policy discussions, even if they refer to results of theoretical or statistical analysis, people tend to ignore the assumptions behind the results of the analysis. Over the course of your study at OSIPP, I expect students to make it a practice to look at assumptions and methodologies, and not just results.

ISHISE, Hirokazu 
Associate Professor
Degree: Ph.D. in Economics (Boston University)
ishise@osipp.osaka-u.ac.jp

OU Researcher Database
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OSIPP Faculty

AKAI, Nobuo

Professor
Public Economics
Hasao-sensei-OSIPP-Osaka-University

HASUO, Ikuyo 

Professor
Global Governance, International Public Administration

HAWKINS, Virgil

Professor
International Politics, Media Studies

HOSHINO, Toshiya

Professor
International Politics, United Nations Studies

IKEFUJI, Masako
Professor

Macroeconomics, Environmental Economics

ISHISE, Hirokazu

Associate Professor
Macroeconomics, International Economics

KATAGIRI, Azusa

Associate Professor
International Relations, Political Methodology

KAMADA, Takuma

Associate Professor
Criminology, Urban Sociology, Social Inequality
Kawamura-professor-OSIPP-Osaka-University

KAWAMURA, Michiya

Associate Professor
Multiculturalism, Liberalism, Migration

KIDO, Eiichi

Professor
Contemporary German Politics, Peace Studies

KOHARA, Miki

Professor
Labor Economics, Applied Econometrics

MAEKAWA, Wakako

Associate Professor
International Relations, Conflict Resolution, Peace Studies

MATSUBAYASHI, Tetsuya

Professor
Political Science, Political Economics, Social Epidemiology

MINAMI, Kazushi

Associate Professor
International Relations of East Asia, U.S. Foreign Relations, Cold War

MUROOKA, Takeshi

Associate Professor
Psychology and Economics, Industrial Organization, Microeconomic Theory

NAKAJIMA, Hiroo

Professor
History of American Foreign Relations, International History

NISUGI, Kento

Associate Professor
International Law

NIWA, Hidekazu

Assistant Professor
Macroeconomics

OKUBO, Kunihiko

Professor
Civil Law

OTSUKI, Tsunehiro

Professor
Development Economics

SAIRENJI, Takayuki

Associate Professor
EU Law

SUNAGA, Miho

Assistant Professor

Macro Economics

TABUCHI, Yumi

Assistant Professor
History of U.S. Foreign Relations

TAKATA, Hinako

Associate Professor
International Law

WANG,Dongqin

Assistant  Professor
Development Economics, Health Economics

TAKII, Katsuya

Professor
Economics of Human Resource Allocation, Economics of Human Capital and Organization, Search and Matching Theory

WANI, Kentaro

Professor
International Law

YAMASHITA, Mamiko

Assistant  Professor
Financial Econometrics, Finance

YAMASHITA, Takuro

Professor
Microeconomic theory

ABE, Shuya

Assistant Professor
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