Dr Katsuyuki Shibayama
Profile
Office: Bg.1.02 Keynes
Telephone: +44 1227 824714
Email: Katsuyuki Shibayama
Profile
After completing his B.A. in Economics at Waseda University (Tokyo) in 1993, Katsuyuki spent seven years as a market economist in Nomura Research Institute (Economic Research Division), Nomura Securities (Fixed Income School) and Deutsche Bank Tokyo (Global Markets Research). His main duty was analysing and forecasting Japanese economic conditions and monetary policy to support the traders and sales persons of Japanese government bonds. In 2000 he restarted his economics study at the London School of Economics and was awarded his Ph.D. in Economics in 2007.
Katsuyuki currently teaches financial economics for BSc and MSc students. His research interest is in the area of macro and monetary economics. In particular, he studies the role of inventories in business cycles and general properties of dynamic stochastic general equilibrium models.
Research
Inventories in business cycles:
My objective is to investigate the role of inventories in business cycles by means of the methods that meet academic standards. I am especially interested in so-called inventory cycles (see Figures). Inventory cycles have the cycle length close to the post-war average of the length of one business cycle in Japan and U.S. (3-5 years) and it seems to me that the cycles are fairly stable over time. While inventory cycles are well known among practitioners such as market economists, the cycles are only rarely studied by academic researchers.
General Properties of Dynamic Stochastic General Equilibrium Models:
Most theoretical researches in economics are built upon specific “models”. On the contrary, my aim is to reveal the properties of a general class of models. For example, in a broad class of models, the local behaviours of individual economic agents near the equilibrium is governed by the second order optimality conditions (i.e., the Jacobian of FOCs must be a negative definite Hessian). My specific research topics in this area include numerical solution methods for imperfect information models and equilibrium selection in sunspot equilibria.
My RePEc page is http://ideas.repec.org/f/psh313.html
Publications
Teaching
Undergraduate
Postgraduate
Administrative roles
Forthcoming