Masashige Hamano

Masashige Hamano is a Professor at the School of Political Science, Waseda University in Tokyo. He also serves as a research fellow at the University of Luxembourg. He holds a Master’s in International Economics from the University of Paris 1 and a Ph.D. in Economics from the University of Rennes 1. He works on issues related to international finance, international macroeconomics, and international trade. He also serves as an associate editor at Macroeconomic Dynamics.

The project

Title: Green Transformation and Economic Growth

"The project analyze the transformation of the economy towards a more environmentally friendly model. Our analysis is based on a recently developed DSGE model that incorporates heterogeneous firms. In our theoretical framework, there are two types of firms: green and brown. Green firms engage in the abatement of greenhouse gas emissions, whereas brown firms do not. Similar to Nordhaus (2007), emissions damage productivity, but this is not internalized in the competitive equilibrium. The government imposes a tax to encourage firms to engage in abatement. Using data, we characterize the green transformation of the economy."

Hosting institution: Sciences Po

Selective Bibliography

• "Firm turnover in the export market and the case for fixed exchange rate regime" with Francesco Pappada. IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(3), pages 759-790, (September 2023)
• "Monetary Policy, Firm Heterogeneity, and Product Variety" with Francesco Zanetti,, European Economic Review,  Elsevier, vol. 144(C)  (May 2022) 
• "International Risk Sharing with Heterogeneous Firms", Journal of International Money and Finance, Volume 120 (February 2022)
• "Economic consequences of follow-up disasters: lessons from the 2011 Great East Japan Earthquake" with Anastasios Evgenidis and Wessel Vermeulen, Energy Economics, Volume 104 (December 2021)
• "Natural Disasters and Trade: The mitigating impact of port substitution"  with Wessel Vermeulen, Journal of Economic Geography, Volume 20, Issue 3, Pages 809–856 (May 2020 )