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Makoto Nakajima

Economic Advisor and Economist

Phone: (215) 574-3905
Fax: (215) 574-6637
Send an e-mail to Makoto Nakajima E-mail
Personal website: https://makotonakajima.github.io/ External Link
Curriculum vitae PDF


  • "Reverse Mortgage Loans: A Quantitative Analysis," with Irina Telyukova, Journal of Finance, 72(2), April 2017, pp. 911-950.
  • "Assessing Bankruptcy Reform in a Model with Temptation and Equilibrium Default," Journal of Public Economics, 45, January 2017, pp. 42-64.
  • "Worker Flows and Job Flows: A Quantitative Investigation," with Shigeru Fujita, Review of Economic Dynamics, 22, October 2016, pp. 1-20.
  • "Housing in Retirement Across Countries," with Irina A. Telyukova, in Contemporary Issues in Microeconomics, J.E. Stiglitz and M. Guzman, eds., London, UK: Palgrave Macmillan, December 2015.
  • "A Quantitative Analysis of Unemployment Benefit Extensions," Journal of Monetary Economics, 59(7), November 2012, 686-702.
  • "Rising Indebtedness and Temptation: A Welfare Analysis," Quantitative Economics, 3(2), July 2012, 257-288.
  • "Business Cycles in the Equilibrium Model of Labor Market Search and Self-Insurance," International Economic Review, 53(2), May 2012, 399-432.
  • "A Quantitative Theory of Unsecured Consumer Credit with Risk of Default," with Satyajit Chatterjee, Dean Corbae, and José-Víctor Ríos-Rull, Econometrica, 75(6), November 2007, 1525-1589.
  • "Default and Aggregate Fluctuations in Storage Economies," with José-Víctor Ríos-Rull, in Frontiers in Applied General Equilibrium Modelling, with T. Kehoe, T.N. Srinivasan, and J. Whalley, eds., Cambridge, UK: Cambridge University Press, 2005.

Working Papers

Federal Reserve Bank of Philadelphia Business Review Articles

Federal Reserve Bank of Philadelphia Economic Insights Articles

Research Interests

  • Macroeconomics
  • Household Finance
  • Labor Market
  • Computational Methods
  • Last update: January 13, 2020