Research

・The Endogenous Money IS-LM Model of the Debt Money System (Part I) (JFRC 01-2022) (New!)
   -- A Paradigm Shift in Macroeconomics --

・The Endogenous Money IS-LM Model of the Debt Money System (Part II) (JFRC 02-2022) (New!)
   -- Loanable Funds vs Endogenous Money --

・Making Macroeconomic Models of Japan (Research Note in Progress, 2021)

・Modeling Cross-Border Payments and Foreign Exchange Dynamics (JFRC 01-2020)
   -- Correspondent Accounts Framework --

・Money Stock Equals Total Debts by Banks (JFRC 01-2019)
    -- Theory and Flow of Funds Analysis in Japan --

・Constructing ASD Macroeconomic Model of the Republic of Turkey (2002-2017) (JFRC 02-2019)
   -- Integrated Analysis of GDP and Flow of Funds (Phase 1) --

・Money Stock = Total Domestic Debts (JFRC 04-2019)
  -- New Theory of Debt Money --

"Fundamentals of the ASD Model as an Alternative to SMM (JFRC Working Paper No. 02-2018).

"Modeling An EPM-token Experiment"
 -- Accounting System Dynamics Analysis --
(Joint paper submitted to the 36th International Conf. of the System Dynamics Society,
 Univ. of Iceland, Reykjavik, Iceland, Aug. 6 -10, 2018)

"Public Money, Debt Money and Blockchain-based Money Classified"
   -- EPM as Money of the Futures --  (Presentation Slides)
 (Joint paper to  be presented at the 13th Annual AMI Monetary Reform Confference,
   Chicago, Sept. 14-17, 2017)

"Peer-to-Peer Public money System -- Focusing on Payments"
 (Joint paper to be presented at the 2nd Asia-Pacific Region System Dynamics Conference of 
   the System Dynamics Society at the National University of Singapore, Feb. 19-22, 2017)

"The Heads and Tails of Money Creation and its System Design Failures -- Toward the Alternative System Design"
  (Joint paper presented at the 34th International Conf. of the System Dynamics Society,
           Delft, Netherlands, July 18, 2016.)

"ASD Macroeconomic Model of Japan on the Flow of Funds and National Accounts
  -- Report on its Early Stage Development --"
 (Joint paper presented at the33rd International Conf. of the System Dynamics Society,
   Cambridge, Massachusetts, USA, July 20, 2015)

"From Debt Money to Public Money System (A Revised Version)"
(A revised version of the paper below was completed on Aug. 28, 2014,
 with the additional analysis on the money multiplier. It was presented at the 10th Annual Monetary Reform Conference, Oct. 2-5, 2014, the University Center, Chicago, USA.)

"From Debt Money to Public Money System
     -- Modeling A Transition Process Simplified --"
     （Presented at the 32nd International Conf. of the System Dynamics Society,
           Delft, Netherlands, July 22, 2014.）

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