FACULTY PROFILE

Masao Ogaki, Ph.D. (University of Chicago, 1988), Professor
Macroeconomics, Econometrics, International Economics, and Consumer Economics

Advisory Editor, Economics Letters (1994- ); Departmental Editor, Journal of Forecasting, January (1999-2003); Associate Editor, Journal of Business & Economic Statistics, (2001-2003); Editor, Journal of Money, Credit, and Banking (2003-).

Masao Ogaki joined the Ohio State economics faculty in 1994. He had previously taught at University of Rochester . He often serves as a visiting scholar at the Bank of Japan, International Monetary Fund, and the Federal Reserve System. His major research interests lie in the areas of empirical macroeconomics and applications of time series econometrics. Some areas of particular interest have been intertemporal consumption decisions and the determination of exchange rates. Currently, Ogaki's research includes worldviews and economic behavior, the theory of regressions when the regressors are unit root nonstationary; Purchasing Power Parity; the relationship between the term structure of interest rates and exchange rates; and effects of nonhomothetic preferences on the risk sharing and saving behavior in panel data of households.

 
Select publications:

"The  Indirect and Direct Substitution Effects," American Economic Review 80 (December 1990)

"Engel's Law and Cointegration," Journal of Political Economy (October 1992).

"Wealth-Varying  Intertemporal Elasticities of Substitution: Evidence from Panel and Aggregate Data," (with Andrew Atkeson), Journal of Monetary Economics 38 (December 1996)

"A Cointegration Approach to Estimating Preference Parameters," (with Joon Y. Park), Journal of Econometrics (January 1998)

"Measuring Intertemporal Substitution: The Role of Durable Goods," (with Carmen M. Reinhart), Journal of Political Economy (October 1998)

"Decreasing Risk Aversion and Tests of Risk Sharing" (with Qiang Zhang) Econometrica (March 2001)

“Dynamic Seemingly Unrelated Cointegrating Regressions,”(with Nelson C. Mark and Donggyu Sul), Review of Economic Studies  (July 2005) 

"Structural Error Correction Models: A System Method for Linear Rational Expectations Models and an Application to an Exchange Rate Model,” (with Jaebeom Kim and Min-Seok Yang),  Journal of Money, Credit, and Banking (December 2007)

“Robust Estimation for Structural Spurious Regressions and A Hausman-type Cointegration Test,” (with Chi-Young Choi and Ling Hu), Journal of Econometrics (January 2008)