Details of the Researcher

PHOTO

Michio Suzuki
Section
Graduate School of Economics and Management
Job title
Associate Professor
Degree

  • Ph.D. （経済学）（ウェスタンオンタリオ大学）

  • 修士（経済学）（東北大学）

Research History 9

  • 2022/04 - Present
    Tohoku University　Graduate School of Economics and Management　Associate Professor

  • 2022/04 - Present
    Economic and Social Research Institute, Cabinet Office, Government of Japan　Visiting Research Fellow

  • 2020/04 - 2022/03
    Tohoku University　Graduate School of Economics and Management Center for Data Science and Service Research　Visiting Associate Professor

  • 2020/04 - 2022/03
    Economic and Social Research Institute, Cabinet Office, Government of Japan　Research Fellow

  • 2018/04 - 2020/03
    Tohoku University　Graduate School of Economics and Management　Associate Professor

  • 2017/04 - 2018/03
    Hitotsubashi University　Institute of Economic Research, Research Center for Economic and Social Risks　Adjunct Associate Professor

  • 2011/04 - 2017/03
    University of Tokyo　Graduate School of Economics　Assistant Professor

  • 2010/04 - 2011/03
    University of Tokyo　Graduate School of Economics　Research Associate

  • 2008/09 - 2010/03
    Bank of Japan　Institute for Monetary and Economic Studies　Economist

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Education 3

  • University of Western Ontario　Department of Economics　PhD Program

    2002/09 - 2008/08

  • Tohoku University　Faculty of Economics　Master's program

    2000/04 - 2002/03

  • Tohoku University　Faculty of Economics　Undergraduate program

    1996/04 - 2000/03

Professional Memberships 3

  • American Economic Association

  • JAPANESE ECONOMIC ASSOCIATION

  • Econometric Society

Research Interests 3

  • Income and Consumption Inequality

  • Productivity

  • Macroeconomics

Research Areas 1

  • Humanities & social sciences / Economic statistics /

Papers 8

  1. The effect of bank recapitalization policy on credit allocation, investment, and productivity: Evidence from a banking crisis in Japan Peer-reviewed

    Hiroyuki Kasahara, Yasuyuki Sawada, Michio Suzuki

    Journal of Banking & Finance　158　107047-107047　2024/01

    Publisher: Elsevier BV

    DOI： 10.1016/j.jbankfin.2023.107047 　

    ISSN： 0378-4266

  2. The heterogeneous effects of COVID-19 on labor markets: People’s movement and non-pharmaceutical interventions Peer-reviewed

    Kisho Hoshi, Hiroyuki Kasahara, Ryo Makioka, Michio Suzuki, Satoshi Tanaka

    Journal of the Japanese and International Economies　63　101170-101170　2022/03

    Publisher: Elsevier BV

    DOI： 10.1016/j.jjie.2021.101170 　

    ISSN： 0889-1583

  3. Trade-off between job losses and the spread of COVID-19 in Japan Invited Peer-reviewed

    Kisho Hoshi, Hiroyuki Kasahara, Ryo Makioka, Michio Suzuki, Satoshi Tanaka

    The Japanese Economic Review　72　(4)　683-716　2021/10

    Publisher: Springer Science and Business Media LLC

    DOI： 10.1007/s42973-021-00092-w 　

    ISSN： 1352-4739

    eISSN： 1468-5876

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    <title>Abstract</title>This paper quantitatively analyzes the trade-off between job losses and the spread of COVID-19 in Japan. We derive an empirical specification from the social planner’s resource constraint under the susceptible, infected, recovered, and deaths (SIRD) model and estimate how job losses and the case growth rate are related to people’s mobility using the Japanese prefecture-level panel data on confirmed cases, involuntary job losses, people’s mobility, and teleworkability. Our findings are summarized as follows. First, we find that a decrease in mobility driven by containment policies is associated with an increase in involuntary job separations, but the high teleworkability mitigates the negative effect of decreased mobility on job losses. Second, estimating how the case growth is related to people’s mobility and past cases, we find that the case growth rate is positively related to an increase in people’s mobility but negatively associated with past confirmed cases. Third, using these estimates, we provide a quantitative analysis of the trade-off between job losses and the number of confirmed cases. Taking Tokyo in July 2020 as a benchmark, we find that the cost of saving 1 job per month is 2.3 more confirmed cases per month in the short run of 1 month. When we consider a trade-off for 3 months from July to September of 2020, protecting 1 job per month requires 6.6 more confirmed cases per month. Therefore, the trade-off becomes worse substantially in the longer run of 3 months, reflecting the exponential case growth when the people’s mobility is high.

  4. UNDERSTANDING THE COSTS OF CONSUMER DURABLE ADJUSTMENTS Peer-reviewed

    Michio Suzuki

    ECONOMIC INQUIRY　54　(3)　1561-1573　2016/07

    DOI： 10.1111/ecin.12333 　

    ISSN： 0095-2583

    eISSN： 1465-7295

  5. Wage, income and consumption inequality in Japan, 1981-2008: From boom to lost decades Peer-reviewed

    Jeremy Lise, Nao Sudo, Michio Suzuki, Ken Yamada, Tomoaki Yamada

    REVIEW OF ECONOMIC DYNAMICS　17　(4)　582-612　2014/10

    DOI： 10.1016/j.red.2014.01.001 　

    ISSN： 1094-2025

    eISSN： 1096-6099

  6. Does an R&D tax credit affect R&D expenditure? The Japanese R&D tax credit reform in 2003 Peer-reviewed

    Hiroyuki Kasahara, Katsumi Shimotsu, Michio Suzuki

    JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES　31　72-97　2014/03

    DOI： 10.1016/j.jjie.2013.10.005 　

    ISSN： 0889-1583

    eISSN： 1095-8681

  7. Consumption, income, and wealth inequality in Canada Invited Peer-reviewed

    Matthew Brzozowski, Martin Gervais, Paul Klein, Michio Suzuki

    REVIEW OF ECONOMIC DYNAMICS　13　(1)　52-75　2010/01

    DOI： 10.1016/j.red.2009.10.006 　

    ISSN： 1094-2025

  8. Essays on Inequality and Consumption Insurance Peer-reviewed

    Michio Suzuki

    Univeristy of Western Ontario　2008/10

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Misc. 5

  1. On the Construction of Employer-Employee Matched Data for Productivity Analysis (in Japanese)

    2024/06

  2. Frontiers of Economic Inequality Research Using Municipal Tax Data (in Japanese)

    Sagiri Kitao, Michio Suzuki, Tomoaki Yamada

    The Keizai Seminar　(6, 7月号)　70-78　2023/05

  3. Identification and Estimation of Production Function with Unobserved Heterogeneity

    Hiroyuki Kasahara, Paul Schrimpf, Michio Suzuki

    https://arxiv.org/abs/2305.12067　2023/05

  4. Decomposition of Aggregate Productivity Growth with Unobserved Heterogeneity

    Hiroyuki Kasahara, Mitsukuni Nishida, Michio Suzuki

    RIETI Discussion Paper Series 17-E-083　2017

  5. Comment on “Who Faces Higher Prices? An Empirical Analysis Based on Japanese Homescan Data”

    Michio Suzuki

    Asian Economic Policy Review　9　(1)　116-117　2014/01

    Publisher: Wiley

    DOI： 10.1111/aepr.12051 　

    ISSN： 1832-8105

Presentations 5

  1. Earnings dynamics and inequality over the life-cycle in Japan

    Michio Suzuki, Tomoaki Yamada

    Economic Research using Administrative Data　2024/09/26

  2. Identification and Estimation of Production Function with Unobserved Heterogeneity

    Michio Suzuki

    Japanese Economic Association, Fall Meeting　2020/10/11

  3. Decomposition of Aggregate Productivity Growth with Unobserved Heterogeneity

    Michio Suzuki

    The 71st European Meeting of Econometric Society　2018/08/30

  4. Decomposition of Aggregate Productivity Growth with Unobserved Heterogeneity

    Michio Suzuki

    Canadian Economic Association Annual Meeting　2018/06/02

  5. Decomposition of Aggregate Productivity Growth with Unobserved Heterogeneity

    Michio Suzuki

    Midwest Macroeconomics Meeting　2018/05/15

Research Projects 8

  1. Empirical analysis on long-term stagnation of aggregate productivity growth

    Michio Suzuki

    Offer Organization: Japanese Society for the Promotion of Science

    System: Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C)

    Category: Grant-in-Aid for Scientific Research (C)

    Institution: Tohoku University

    2023/04 - 2026/03

  2. Analysis of income risk and inequality using administrative tax data

    Sagiri Kitao, Tomoaki Yamada, Michio Suzuki

    Offer Organization: Japan Society for the Promotion of Science

    System: Grants-in-Aid for Scientific Research Grant-in-Aid for Transformative Research Areas (B)

    Category: Grant-in-Aid for Transformative Research Areas (B)

    Institution: The University of Tokyo

    2022/05 - 2025/03

  3. Productivity analysis using employer-employee matched data

    Michio Suzuki

    Offer Organization: Japan Society for the Promotion of Science

    System: Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C)

    Category: Grant-in-Aid for Scientific Research (C)

    Institution: Tohoku University

    2019/04 - 2024/03

  4. Empirical analysis of manufacturing sector: unobserved heterogeneity in production function and decomposition of aggregate productivity growth

    Michio Suzuki

    Offer Organization: Japan Society for the Promotion of Science

    System: Grants-in-Aid for Scientific Research Grant-in-Aid for Young Scientists (B)

    Category: Grant-in-Aid for Young Scientists (B)

    2016/04 - 2019/03

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    This research project examines nonparametric identifiability of production function with unobserved heterogeneity beyond Hicks-neutral technology terms and proposes estimation procedure. Furthermore, we apply the production function estimation to the decomposition of aggregate productivity growth. Using data from the Census of Manufacture, we find that accounting for unobserved heterogeneity plays an important role for the measurement of the reallocation contribution to the industry-level aggregate productivity growth.

  5. Grant-in-Aid Competitive

    Michio Suzuki

    Offer Organization: Japan Center for Economic Research

    2015/04 - 2016/03

  6. Empirical analysis of firm's financial constraints and their real effects

    Michio Suzuki

    Offer Organization: Japan Society for the Promotion of Science

    System: Grants-in-Aid for Scientific Research Grant-in-Aid for Young Scientists (B)

    Category: Grant-in-Aid for Young Scientists (B)

    Institution: The University of Tokyo

    2013/04 - 2016/03

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    This research project consists of two parts. The first part examines the effect of government capital injections into financially troubled banks on loan growth and corporate investment during the late 1990s Japanese banking crisis. The estimation results suggest that the capital injections help banks to increase their supply of loans and the improvement of bank’s capital ratio increases firm’s investment to a larger extent when firms are more productive. The second part examines the effect of tax credit on firm’s R&D expenditure. The estimation results suggest that the effect of tax credit is significantly larger for firms with relatively large outstanding debts.

  7. Grant-in-Aid Competitive

    Michio Suzuki

    Offer Organization: The Seimeikai Foundation

    2012/04 - 2013/03

  8. On household consumption smoothing : Empirical analysis using household-level micro data and incomplete market models

    Michio Suzuki

    Offer Organization: Japan Society for the Promotion of Science

    System: Grants-in-Aid for Scientific Research Grant-in-Aid for Research Activity Start-up

    Category: Grant-in-Aid for Research Activity Start-up

    Institution: The University of Tokyo

    2010/04 - 2012/03

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    This research project documents cross-sectional facts about household income and consumption and develops a dynamic model of consumption expenditure based on the findings. The first project examines expenditure on consumer durables using data from the Consumer Expenditure Survey in the United States of America. The empirical analysis shows that the expenditure on consumer durables is more dispersed across households and more responsive to income shocks than that on nondurable goods. Based on the empirical findings, I develop a dynamic model of household consumption with borrowing constraints and costs of adjusting the stock of consumer durables. With a fixed adjustment cost that applies to large adjustments, the model can replicate the empirical patterns well. The second project documents the evolution of income and consumption inequality in Japan, using data from the Family Income and Expenditure Survey and the National Survey of Family Income and Expenditure. Income inequality has increased since 1980, with a strong rise in the top tail of the distribution in the 1980s and a sharp decline in the bottom tail in the late 1990s. Consumption inequality does not increase as much as income inequality in the late 1990s.

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Teaching Experience 6

  1. Intermediate Macroeconomics　University of Western Ontario

  2. Microeconomics　Graduate School of Public Policy, University of Tokyo

  3. Topics in Consumption and Investment　Graduate School of Economics, University of Tokyo

  4. Applied Macroeconomics　Graduate School of Economics and Management, Tohoku University

  5. Advanced Macroeconomics　Graduate School of Economics and Management, Tohoku University

  6. Macroeconomics　Faculty of Economics, Tohoku University

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