Makoto Nakajima

Federal Reserve Bank of Philadelphia

Senior Economist

Ten Independence Mall

Philadelphia, PA 19106-1574

United States

  • Federal Reserve Bank of Philadelphia

SCHOLARLY PAPERS

19

DOWNLOADS
Rank 20,635

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Top 20,635

in Total Papers Downloads

5,232

TOTAL CITATIONS
Rank 3,069

SSRN RANKINGS

Top 3,069

in Total Papers Citations

344

Scholarly Papers (19)

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1.

Reverse Mortgage Loans: A Quantitative Analysis

Downloads 817 (65,025)
Citation 47

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 415 (150,271)
Citation 6

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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 299 (215,324)
Citation 3

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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 103 (561,947)
Citation 38

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

2.

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
Satyajit Chatterjee, Philip Dean Corbae, Makoto Nakajima and José-Victor Rios-Rull
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 813 (65,339)
Citation 154

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Default, bankruptcy, consumer credit, precautionary savings

3.

Monetary Policy with Heterogeneous Agents

Downloads 636 (89,876)
Citation 16

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 400 (156,379)
Citation 16

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

Monetary Policy with Heterogeneous Agents

FRB of Philadelphia Working Paper No. 12-21
Number of pages: 122 Posted: 09 Jul 2021
Nils Gornemann, Keith Kuester and Makoto Nakajima
Board of Governors of the Federal Reserve System, affiliation not provided to SSRN and Federal Reserve Bank of Philadelphia
Downloads 236 (274,309)

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4.

Home Equity in Retirement

Downloads 470 (130,768)
Citation 11

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 330 (193,520)
Citation 3

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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 140 (440,870)
Citation 8

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

5.

Worker Flows and Job Flows: A Quantitative Investigation

Downloads 328 (196,438)
Citation 17

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 111 (531,000)
Citation 4

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

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 89 (620,054)
Citation 9

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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 71 (709,534)
Citation 4

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

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 57 (797,992)

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

6.

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 273 (238,572)
Citation 5

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

7.

Optimal Capital Income Taxation with Housing

Downloads 261 (249,694)
Citation 13

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 137 (448,735)
Citation 9

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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 124 (486,842)
Citation 4

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

8.

Housing in Retirement Across Countries

Downloads 240 (271,412)
Citation 13

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 145 (428,420)
Citation 13

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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 95 (594,582)

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

9.

Credit, Bankruptcy, and Aggregate Fluctuations

Downloads 224 (290,265)
Citation 1

Credit, Bankruptcy, and Aggregate Fluctuations

FRB of Philadelphia Working Paper No. 19-48
Number of pages: 62 Posted: 27 Nov 2019 Last Revised: 06 Dec 2019
Makoto Nakajima and Jose-Victor Rios-Rull
Federal Reserve Bank of Philadelphia and University of Minnesota - Twin Cities
Downloads 117 (509,707)

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consumer credit, default, bankruptcy, debt, business cycles, 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 44 (903,328)

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

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 39 (950,839)

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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 Last Revised: 03 May 2023
Makoto Nakajima and Jose-Victor Rios-Rull
Federal Reserve Bank of Philadelphia and University of Minnesota - Twin Cities
Downloads 24 (1,122,766)
Citation 1

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10.

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

Downloads 190 (338,858)
Citation 13

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 139 (443,497)
Citation 13

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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 51 (843,384)

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

11.

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

Downloads 186 (345,501)
Citation 3

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

International Finance Discussion Paper No. 1167
Number of pages: 43 Posted: 31 May 2016 Last Revised: 06 Jan 2017
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 155 (405,321)
Citation 2

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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 31 (1,036,755)
Citation 1
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General Equilibrium, Heterogeneous Agents, Monetary policy, Search and Matching, Unemployment

12.

A Quantitative Analysis of Unemployment Benefit Extensions

Downloads 186 (345,501)
Citation 17

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 131 (465,700)

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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 55 (812,584)
Citation 17

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

13.

Cyclical Labor Income Risk

Downloads 154 (407,421)
Citation 1

Cyclical Labor Income Risk

Number of pages: 43 Posted: 08 Aug 2019
Makoto Nakajima and Vladimir Smirnyagin
Federal Reserve Bank of Philadelphia and University of Virginia - Department of Economics
Downloads 120 (499,809)
Citation 1

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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 University of Virginia - Department of Economics
Downloads 34 (1,003,001)

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Labor income risk, income inequality, business cycles

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 116 (510,091)
Citation 17

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

15.

Monetary Policy with Racial Inequality

FRB of Philadelphia Working Paper No. 23-9
Number of pages: 71 Posted: 12 Jun 2023
Makoto Nakajima
Federal Reserve Bank of Philadelphia
Downloads 89 (612,994)
Citation 1

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monetary policy, racial inequality, labor market, unemployment, wealth distribution, hand-to-mouth, marginal propensity to consume, business cycle, heterogeneous agents

16.

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 82 (644,112)

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

17.

Assessing Bankruptcy Reform in a Model with Temptation and Equilibrium Default

Downloads 72 (693,070)
Citation 9

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 46 (885,348)

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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 26 (1,096,975)
Citation 9

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

18.

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 53 (810,528)
Citation 5

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

19.

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 42 (899,964)
Citation 1

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