Emi Nakamura

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by DrSocPsych (talk | contribs) at 20:16, 5 May 2019 (Changed link for "fiscal" from Public finance to Fiscal policy.). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Emi Nakamura
BornOctober 1980 (age 43)
Alma materPrinceton University, Harvard University
AwardsJohn Bates Clark Medal, 2019

Elaine Bennett Research Prize, 2014
Eccles Research Award in Finance and Economics, 2015
2014 IMF Generation Next: Top 25 Economists under 45

Sloan Research Fellowship 2014-2016
Scientific career
FieldsEconomics
InstitutionsUniversity of California, Berkeley, Columbia University
Doctoral advisorRobert Barro and Ariel Pakes
Websitehttps://eml.berkeley.edu/~enakamura/

Emi Nakamura is Chancellor's Professor of Economics at University of California, Berkeley, a Research Associate of the National Bureau of Economic Research,[1] and a Co-Editor of the American Economic Review.[2] She was awarded the John Bates Clark Medal[3] and elected to the American Academy of Arts and Sciences in 2019. She has been awarded an NSF Career Grant and Sloan Research Fellowship, was the 2014 recipient of the Elaine Bennett Research Prize,[4][5] and was named one of the top 25 economists under 45 in 2014 by the IMF.[6] She received her PhD in Economics from Harvard and her AB from Princeton[7].

Her research focuses on empirical issues in macroeconomics, including price stickiness, the impact of fiscal shocks, and measurement errors in official statistics. In particularly influential work, she showed that many measured price changes are due to temporary sales, scheduled far in advance, rather than happening as dynamic responses to economic conditions.[8]

She is married to fellow economist Jon Steinsson,[9] and is the daughter of economists Alice Nakamura and Masao Nakamura[10][11] and the granddaughter of economist Guy Orcutt.

Selected works

Inflation and price dispersion

Nakamura, Emi; Steinsson, Jon (2008). "Five facts about prices: A reevaluation of menu cost models". The Quarterly Journal of Economics. 123 (4): 1415–1464. JSTOR 40506213. This paper analyzes detailed microeconomic price data and describes firms' price-setting behavior to test the menu cost model of price stickiness. They find mixed evidence: some facts in the data are consistent with the menu cost model, but others are not.

Nakamura, Emi; Steinsson, Jon; Sun, Patrick; Villar, Daniel (2018). "The Elusive Costs of Inflation: Price Dispersion during the U.S. Great Inflation" (PDF). Quarterly Journal of Economics. 133(4): 1933–1908. attempts to measure the costs of inflation. In the commonly used New Keynesian macroeconomic models, the social costs of inflation arise from inefficient price dispersion: higher inflation implies higher price dispersion. Nakamura et al. digitize price data from the era of high inflation in the US in the 1970s and 1980s to test this hypothesis. They find "no evidence that the absolute size of price changes rose during the Great Inflation", and conclude that "This suggests that the standard New Keynesian analysis of the welfare costs of inflation is wrong and its implications for the optimal inflation rate need to be reassessed".

Monetary policy

Nakamura, Emi (2018). "High-Frequency Identification of Monetary Non-Neutrality: The Information Effect" (PDF). Quarterly Journal of Economics. 133(3): 1283–1330. demonstrates changes in financial market expectations of real variables (the real interest rate, and economy growth) in the thirty-minute window after Federal Reserve rate announcements.

McKay, Alisdair; Nakamura, Emi; Steinsson, Jon (2016). "The Power of Forward Guidance Revisited" (PDF). American Economic Review. 106(10): 3133–3158. argues that the effects of forward guidance are likely to be substantially reduced if financial markets are incomplete: specifically, if agents face borrowing constraints and uninsurable income risk.

Nakamura, Emi; Steinsson, Jon (2010). "Monetary non-neutrality in a multisector menu cost model". The Quarterly Journal of Economics. 125 (3): 961–1013. JSTOR 27867504.

Nakamura, Emi; Zerom, D (2010). "Accounting for incomplete pass-through". The Review of Economic Studies. 77 (3): 1192–1230. JSTOR 40835861.

Fiscal policy

Nakamura, Emi; Steinsson, Jon (2014). "Fiscal stimulus in a monetary union: Evidence from US regions". The American Economic Review. 104 (3): 753–792. JSTOR 42920719. uses regional variation in US military spending to estimate an "open economy multiplier" of 1.5. This empirical evidence "indicates that demand shocks can have large effects on output", particularly at the zero lower bound.[12]

Economic crises

Nakamura, Emi; Steinsson, Jon; Barro, R; Ursúa, J (2013). "Crises and recoveries in an empirical model of consumption disasters" (PDF). American Economic Journal: Macroeconomics. 5 (3): 35–74.

References

  1. ^ "C.V. of Emi Nakamura" (PDF).
  2. ^ "American Economic Association". www.aeaweb.org. Retrieved 2018-08-28.
  3. ^ "American Economic Association". www.aeaweb.org. Retrieved 2019-05-01.
  4. ^ Emi Nakamura Recipient of the 2014 Elaine Bennett Research Prize. American Economic Association. aeaweb.org
  5. ^ "Emi Nakamura Receives AEA's Elaine Bennett Research Prize | Columbia University - Economics". econ.columbia.edu. Retrieved 2017-08-07.
  6. ^ "NBER Reporter 2015 Number 1: Research Summary". www.nber.org. Retrieved 2017-08-07.
  7. ^ Affairs, Public; November 14, UC Berkeley|; 2018December 10; 2018 (2018-11-14). "Meet our new faculty: Emi Nakamura, economics". Berkeley News. Retrieved 2019-04-18. {{cite web}}: |last4= has numeric name (help)CS1 maint: numeric names: authors list (link)
  8. ^ "Interview: Emi Nakamura" (PDF). Econ Focus--A publication of the Richmond Federal Reserve Bank. 2015.
  9. ^ Rampell, Catherine (2013-11-05). "Outsource Your Way to Success". The New York Times. ISSN 0362-4331. Retrieved 2017-08-07.
  10. ^ "An Interview with Emi Nakamura". CSWEP News. 2015.
  11. ^ CSWEP Talks. aeaweb.org
  12. ^ Nakamura, Emi; Steinsson, Jón (2011-10-02). "Does fiscal stimulus work in a monetary union? Evidence from US regions". VoxEU.org. Retrieved 2019-04-18.


Stub icon

This biography of an American economist is a stub. You can help Wikipedia by expanding it.

Retrieved from "https://en.wikipedia.org/w/index.php?title=Emi_Nakamura&oldid=895668729"