Makoto Nakajima

Federal Reserve Bank of Philadelphia

Senior Economist

Ten Independence Mall

Philadelphia, PA 19106-1574

United States

SCHOLARLY PAPERS

18

DOWNLOADS
Rank 17,864

SSRN RANKINGS

Top 17,864

in Total Papers Downloads

3,125

SSRN CITATIONS
Rank 2,947

SSRN RANKINGS

Top 2,947

in Total Papers Citations

302

CROSSREF CITATIONS

133

Scholarly Papers (18)

1.

A Quantitative Theory of Unsecured Consumer Credit with Risk of Default

FRB Philadelphia Working Paper No. 07-16
Number of pages: 69 Posted: 18 Jun 2002
Federal Reserve Bank of Philadelphia, University of Wisconsin - Madison - Department of Finance, Investment and Banking, Federal Reserve Bank of Philadelphia and University of Pennsylvania - Department of Economics
Downloads 711 (41,011)
Citation 150

Abstract:

Loading...

Default, bankruptcy, consumer credit, precautionary savings

2.
Downloads 670 ( 44,445)
Citation 29

Reverse Mortgage Loans: A Quantitative Analysis

FRB of Philadelphia Working Paper No. 14-27
Number of pages: 40 Posted: 12 Sep 2014
Makoto Nakajima and Irina A. Telyukova
Federal Reserve Bank of Philadelphia and University of California, San Diego
Downloads 340 (101,168)
Citation 6

Abstract:

Loading...

Reverse Mortgage, Mortgage, Housing, Retirement, Home Equity Conversion Mortgage, HECM

Reverse Mortgage Loans: A Quantitative Analysis

Number of pages: 34 Posted: 17 Jul 2011 Last Revised: 11 Jun 2013
Makoto Nakajima and Irina A. Telyukova
Federal Reserve Bank of Philadelphia and University of California, San Diego
Downloads 257 (136,845)
Citation 3

Abstract:

Loading...

Reverse Mortgage, Mortgage, Housing, Retirement, Home Equity Conversion Mortgage, HECM

Reverse Mortgage Loans: A Quantitative Analysis

FRB of Philadelphia Working Paper No. 13-27
Number of pages: 35 Posted: 13 Jun 2013
Makoto Nakajima and Irina A. Telyukova
Federal Reserve Bank of Philadelphia and University of California, San Diego
Downloads 73 (370,931)
Citation 26

Abstract:

Loading...

Reverse Mortgage, Mortgage, Housing, Retirement, Home Equity Conversion Mortgage, HECM

3.
Downloads 322 (108,286)
Citation 7

Home Equity in Retirement

Number of pages: 47 Posted: 29 Jul 2011 Last Revised: 31 Dec 2012
Makoto Nakajima and Irina A. Telyukova
Federal Reserve Bank of Philadelphia and University of California, San Diego
Downloads 271 (129,428)
Citation 4

Abstract:

Loading...

Housing, Retirement Saving Puzzle, Mortgage, Health, Life-cycle

Home Equity in Retirement

FRB of Philadelphia Working Paper No. 19-50
Number of pages: 56 Posted: 12 Dec 2019
Makoto Nakajima and Irina A. Telyukova
Federal Reserve Bank of Philadelphia and University of California, San Diego
Downloads 51 (445,642)
Citation 2

Abstract:

Loading...

Housing, Retirement Saving Puzzle, Mortgage, Health, Life cycle, Medical expenditure, Bequest

Home Equity in Retirement

International Economic Review, Vol. 61, Issue 2, pp. 573-616, 2020
Number of pages: 44 Posted: 30 Oct 2020
Makoto Nakajima and Irina A. Telyukova
Federal Reserve Bank of Philadelphia and University of California, San Diego
Downloads 0
Citation 1
  • Add to Cart

Abstract:

Loading...

4.

Monetary Policy with Heterogeneous Agents

FRB of Philadelphia Working Paper No. 12-21
Number of pages: 49 Posted: 18 Sep 2012
Nils Gornemann, Keith Kuester and Makoto Nakajima
Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Philadelphia
Downloads 275 (128,091)
Citation 16

Abstract:

Loading...

Monetary Policy, Unemployment, Search and Matching, Heterogeneous Agents, General Equilibrium

Business Cycles in the Equilibrium Model of Labor Market Search and Self-Insurance

FRB of Philadelphia Working Paper No. 10-24
Number of pages: 44 Posted: 18 Jan 2007 Last Revised: 22 Nov 2019
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 128 (255,174)
Citation 6

Abstract:

Loading...

Search, Matching, Business Cycles, Labor Markets, General Equilibrium, Incomplete Markets, Computational Methods

Business Cycles in the Equilibrium Model of Labor Market Search and Self-Insurance

FRB of Philadelphia Working Paper No. 10-24
Number of pages: 44 Posted: 17 Aug 2010
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 29 (551,829)

Abstract:

Loading...

Search, Matching, Business Cycles, Labor Markets, General Equilibrium, Incomplete Markets, Computational Methods

Business Cycles in the Equilibrium Model of Labor Market Search and Self-Insurance

International Economic Review, Vol. 53, Issue 2, pp. 399-432, 2012
Number of pages: 34 Posted: 23 May 2012
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 1 (772,154)
  • Add to Cart

Abstract:

Loading...

Worker Flows and Job Flows: A Quantitative Investigation

Number of pages: 43 Posted: 01 Oct 2009 Last Revised: 27 Nov 2009
Shigeru Fujita and Makoto Nakajima
Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Philadelphia
Downloads 58 (419,430)
Citation 9

Abstract:

Loading...

Job flows, worker flows, search and matching, business cycles, unemployment, vacancies

Worker Flows and Job Flows: A Quantitative Investigation

FRB of Philadelphia Working Paper No. 13-9
Number of pages: 39 Posted: 30 Mar 2013
Shigeru Fujita and Makoto Nakajima
Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Philadelphia
Downloads 38 (502,906)
Citation 1

Abstract:

Loading...

Job Flows, Worker Flows, Multiple-worker Firm, Search and Matching

Worker Flows and Job Flows: A Quantitative Investigation

FRB of Philadelphia Working Paper No. 09-33
Number of pages: 44 Posted: 30 Nov 2009
Shigeru Fujita and Makoto Nakajima
Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Philadelphia
Downloads 30 (545,723)
Citation 5

Abstract:

Loading...

Job flows, worker flows, search and matching, business cycles, unemployment, vacancies

Worker Flows and Job Flows: A Quantitative Investigation

FRB of Philadelphia Working Paper No. 16-3
Number of pages: 36 Posted: 09 Feb 2016
Shigeru Fujita and Makoto Nakajima
Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Philadelphia
Downloads 27 (564,460)

Abstract:

Loading...

Job flows, Worker flows, Multiple-worker firm, and Search and matching

7.
Downloads 151 (223,026)
Citation 4

Optimal Capital Income Taxation with Housing

FRB of Philadelphia Working Paper No. 10-11
Number of pages: 43 Posted: 29 Apr 2010
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 94 (317,602)
Citation 6

Abstract:

Loading...

Capital Taxation, Housing, Optimal Taxation, Heterogeneous Agents, Incomplete Markets

Optimal Capital Income Taxation with Housing

Number of pages: 42 Posted: 01 Oct 2009 Last Revised: 22 Apr 2010
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 57 (422,997)
Citation 4

Abstract:

Loading...

Capital Taxation, Housing Taxation, Optimal Taxation, Heterogeneous Agents, Incomplete Markets

8.
Downloads 130 (251,331)
Citation 10

Housing in Retirement Across Countries

Number of pages: 33 Posted: 30 Dec 2012 Last Revised: 19 May 2015
Makoto Nakajima and Irina A. Telyukova
Federal Reserve Bank of Philadelphia and University of California, San Diego
Downloads 69 (382,853)

Abstract:

Loading...

Retirement, Saving, Household Finance, Housing, Health, Medical Expenditures, Healthcare, Cross-Country Comparison

Housing in Retirement Across Countries

Boston College Center for Retirement Research Working Paper No. 2013-18
Number of pages: 36 Posted: 21 Sep 2013
Makoto Nakajima and Irina A. Telyukova
Federal Reserve Bank of Philadelphia and University of California, San Diego
Downloads 61 (408,843)
Citation 11

Abstract:

Loading...

9.

Health-Care Reform or Labor Market Reform? A Quantitative Analysis of the Affordable Care Act

FRB of Philadelphia Working Paper No. 15-34/R
Number of pages: 66 Posted: 19 Sep 2015
Makoto Nakajima and Didem Tuzemen
Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Kansas City
Downloads 101 (300,982)
Citation 3

Abstract:

Loading...

Health Insurance, Health-Care Reform, Affordable Care Act, Labor Market, Heterogeneous Agents

A Quantitative Analysis of Unemployment Benefit Extensions

Number of pages: 41 Posted: 09 Feb 2011 Last Revised: 16 Nov 2011
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 69 (382,853)

Abstract:

Loading...

Unemployment Insurance, Extended Benefits, Labor Market, Search, Consumption Smoothing

A Quantitative Analysis of Unemployment Benefit Extensions

FRB of Philadelphia Working Paper No. 11-8R
Number of pages: 42 Posted: 11 Feb 2011 Last Revised: 16 Nov 2011
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 30 (545,723)
Citation 18

Abstract:

Loading...

Unemployment Insurance, Extended Benefits, Labor Market, Search, Consumption, Smoothing

Doves for the Rich, Hawks for the Poor? Distributional Consequences of Monetary Policy

FRB International Finance Discussion Paper No. 1167
Number of pages: 43 Posted: 31 May 2016
Nils Gornemann, Keith Kuester and Makoto Nakajima
Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Philadelphia
Downloads 77 (359,640)
Citation 2

Abstract:

Loading...

Monetary Policy, Unemployment, Search and Matching, Heterogeneous Agents, General Equilibrium

Doves for the Rich, Hawks for the Poor? Distributional Consequences of Monetary Policy

CEPR Discussion Paper No. DP11233
Number of pages: 55 Posted: 18 Apr 2016
Nils Gornemann, Keith Kuester and Makoto Nakajima
Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Philadelphia
Downloads 0
Citation 1
  • Add to Cart

Abstract:

Loading...

General Equilibrium, Heterogeneous Agents, Monetary policy, Search and Matching, Unemployment

12.
Downloads 68 (384,321)
Citation 1

Credit, Bankruptcy, and Aggregate Fluctuations

Number of pages: 43 Posted: 10 Oct 2014
Makoto Nakajima and Jose-Victor Rios-Rull
Federal Reserve Bank of Philadelphia and University of Minnesota - Twin Cities
Downloads 24 (584,773)

Abstract:

Loading...

consumer credit, default, bankruptcy, debt, business cycle, heterogeneous agents, incomplete markets

Credit, Bankruptcy, and Aggregate Fluctuations

FRB of Philadelphia Working Paper No. 19-48
Number of pages: 62 Posted: 27 Nov 2019
Makoto Nakajima and Jose-Victor Rios-Rull
Federal Reserve Bank of Philadelphia and University of Minnesota - Twin Cities
Downloads 20 (620,688)

Abstract:

Loading...

consumer credit, default, bankruptcy, debt, business cycle, heterogeneous agents, incomplete markets

Credit, Bankruptcy, and Aggregate Fluctuations

FRB of Philadelphia Working Paper No. 14-31
Number of pages: 44 Posted: 29 Oct 2014
Makoto Nakajima and José-Victor Rios-Rull
Federal Reserve Bank of Philadelphia and University of Pennsylvania - Department of Economics
Downloads 16 (642,737)

Abstract:

Loading...

Consumer Credit, Default, Bankruptcy, Debt, Business Cycle, Heterogeneous Agents, Incomplete Markets

Credit, Bankruptcy, and Aggregate Fluctuations

NBER Working Paper No. w20617
Number of pages: 44 Posted: 27 Oct 2014
Makoto Nakajima and Jose-Victor Rios-Rull
Federal Reserve Bank of Philadelphia and University of Minnesota - Twin Cities
Downloads 8 (705,583)
Citation 1

Abstract:

Loading...

13.

Rising Indebtedness and Hyperbolic Discounting: A Welfare Analysis

FRB of Philadelphia Working Paper No. 09-25R
Number of pages: 40 Posted: 01 Oct 2009 Last Revised: 16 Nov 2011
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 52 (434,543)

Abstract:

Loading...

Hyperbolic discounting, Over-borrowing, Borrowing constraint, Heterogeneous agents, General equilibrium

14.

Rising Earnings Instability, Portfolio Choice, and Housing Prices

Number of pages: 49 Posted: 01 Oct 2009
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 44 (465,881)
Citation 17

Abstract:

Loading...

House price, General equilibrium, Incomplete markets, Income inequality, Debt

Assessing Bankruptcy Reform in a Model with Temptation and Equilibrium Default

FRB of Philadelphia Working Paper No. 15-12
Number of pages: 47 Posted: 10 Mar 2015
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 27 (564,460)

Abstract:

Loading...

Consumer Bankruptcy, Debt, Default, Borrowing Constraint, Temptation and Self-Control, Hyperbolic Discounting, Heterogeneous Agents, Incomplete Markets

Assessing Bankruptcy Reform in a Model with Temptation and Equilibrium Default

FRB of Philadelphia Working Paper No. 16-21
Number of pages: 46 Posted: 20 Jul 2016
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 11 (682,012)
Citation 9

Abstract:

Loading...

Consumer Bankruptcy, Debt, Default, Borrowing Constraint, Temptation and Self-Control, Hyperbolic Discounting, Heterogeneous Agents, Incomplete Markets

16.

Rising Indebtedness and Temptation: A Welfare Analysis

FRB of Philadelphia Working Paper No. 11-39
Number of pages: 37 Posted: 15 Sep 2011
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 28 (543,095)
Citation 5

Abstract:

Loading...

Temptation, Self-control, Hyperbolic discounting, Over-borrowing, Heterogeneous agents, General equilibrium

17.
Downloads 27 (548,847)

Cyclical Labor Income Risk

Number of pages: 43 Posted: 08 Aug 2019
Makoto Nakajima and Vladimir Smirnyagin
Federal Reserve Bank of Philadelphia and Yale University
Downloads 20 (613,268)

Abstract:

Loading...

labor income risk, income inequality, business cycles

Cyclical Labor Income Risk

FRB of Philadelphia Working Paper No. 19-34
Number of pages: 44 Posted: 23 Oct 2019
Makoto Nakajima and Vladimir Smirnyagin
Federal Reserve Bank of Philadelphia and Yale University
Downloads 7 (713,638)

Abstract:

Loading...

Labor income risk, income inequality, business cycles

18.

A Tale of Two Commitments: Equilibrium Default and Temptation

FRB of Philadelphia Working Paper No. 14-1
Number of pages: 40 Posted: 17 Dec 2013
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 21 (586,796)
Citation 3

Abstract:

Loading...

Consumer bankruptcy, Debt, Default, Borrowing constraint, Temptation and self-control, Hyperbolic-discounting, Heterogeneous agents, Incomplete markets