Tetsushi MURAO
Organization
Faculty of Economics Department of Economic Engineering Associate Professor
Joint Graduate School of Mathematics for Innovation
（Concurrent）
School of Economics Department of Economic Engineering（Concurrent）
Graduate School of Economics Department of Economic Engineering（Concurrent）
Title
Associate Professor
Contact information
Profile
Artificial Intelligence/Machine Learning and decision-making; Computational social science based on multi-agent deep reinforcement learning; Emergence of autonomous coordination/cooperation; Sufficient statistics approach for estimating policy effects
External link
Degree
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Ph.D. in Economics （ 2012.4 Hitotsubashi University ）
Research History
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Hitotsubashi University Institute of Innovation Research Postdoctoral Research Fellow
2011.7 - 2012.8
Education
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Yokohama National University School of Economics Division of Economic Law
2000.4 - 2001.3
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Yokohama National University School of Economics Division of Economic Systems
2001.4 - 2004.3
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Hitotsubashi University Graduate School of Economics
2004.4 - 2011.6
Research Interests・Research Keywords
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Research theme： Artificial Intelligence/Machine Learning and Decision Making
Keyword： Meta Learning; Sample Efficiency; Cognitive Bias
Research period： 2022.1
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Research theme： Computational social science based on multi-agent deep reinforcement learning
Keyword： Artificial Market; Spatial Dynamics; Oligopoly Dynamics; Environmental Economic Dynamics
Research period： 2022.1
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Research theme： Emergence of autonomous coordination/cooperation
Keyword： Game Theoretic Models; Externality; Group Dynamics; International Environmental Agreements; Algorithmic Collusion
Research period： 2022.1
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Research theme： Sufficient statistics approach for estimating policy effects
Keyword： Sufficient Statistics Formula; Climate Policies; Externalities
Research period： 2022.1
Awards
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Graduated with the second highest academic standing in the Faculty of Economics, 2004
2004.3 Yokohama National University
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Hongyo Prize for the Best Essay, Faculty of Economics, Yokohama National University, 2004
2004.3 Faculty of Economics, Yokohama National University
Tetsushi Murao
Papers
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Aggregate Productivity Growth Decomposition: an Overview Invited Reviewed International journal
Tetsushi Murao
Public Policy Review (Ministry of Finance Japan) 13 ( 1 ) 2017.11
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「マイクロデータを用いた生産性成長率分解手法の概観」 Invited
村尾 徹士
フィナンシャル・レビュー（財務省） 128 41 - 54 2016.11
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"Labor-market Institutions and Long-term Effects of Youth Unemployment" Reviewed International journal
Daiji Kawaguchi, Tetsushi Murao
Journal of Money, Credit and Banking 46 ( S2 ) 95 - 116 2014.10
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"Firm Size Distribution in Oblivious Equilibrium Model with Quality Ladder" Reviewed International journal
Tetsushi Murao
Advances in Intelligent Systems and Computing Vol.(290) 99 - 106 2014.6
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"Incidence of Strict Quality Standards: Protection of Consumers or Windfall for Professionals?" Reviewed International journal
Daiji Kawaguchi, Tetsushi Murao, Ryo Kambayashi
Journal of Law and Economics 57 ( 2 ) 195 - 224 2014.2
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"Who Bears the Cost of Business Cycle?: Labor-Market Institutions and Volatility of the Youth Unemployment Rate" Reviewed International journal
Daiji Kawaguchi, Tetsushi Murao
IZA Journal of Labor Policy 1 ( 10 ) 1 - 22 2012.12
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"Entry Barriers, Reallocation, and Productivity Growth: Evidence from Japanese manufacturing firms"
Tetsushi Murao, Makoto Nirei
RIETI Working Paper Series 2011.12
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「年齢階層別失業率変動の国際比較」 Reviewed
川口 大司, 村尾 徹士
経済研究 61 ( 2 ) 2010.4
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「不完全資本市場下での生産関数の推定について」
北村 行伸, 西脇 雅人, 村尾 徹士
経済研究 60 ( 3 ) 2009.7
Books
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『人間行動から考える地震リスクのマネジメント： 新しい社会制度を設計する』
齊藤誠・中川雅之編（Role：Joint author）
勁草書房 2012.3
Presentations
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Long-run Phillips curve in dual economies with frictional labor markets and wealth inequality International conference
Tetsushi Murao
European Economic Association, 31st Annual Congress 2016.8
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Competition and Growth through Reallocation with Heterogeneous Schumpeterian Effects (co-authored with Makoto Nirei) International conference
Tetsushi Murao
Royal Economic Society, 2014 Annual Conference 2014.4
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Entry Barriers and Growth through Reallocation with Heterogeneous Schumpeterian Effect (co-authored with Makoto Nirei) International conference
Tetsushi Murao
European Economic Association, 28th Annual Congress 2013.8
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Long-run Phillips curve in dual economies with frictional labor markets and wealth inequality International conference
Tetsushi Murao
2016 Asian Meeting of the Econometric Society 2016.8
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Competition and Growth through Reallocation with Heterogeneous Schumpeterian Effect (with Makoto Nirei) Invited International conference
Tetsushi Murao
Workshop on Economic Growth Analysis and Evaluation of Science, Technology and Innovation Policies 2015.6
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Firm Size Distribution in Oblivious Equilibrium Model with Quality Ladder International conference
Tetsushi Murao
Distributed Computing and Artificial Intelligence, 11th International Conference (Special session on Multi-Agent Macroeconomics) 2014.6
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Industry Dynamics with R&D and Firing Costs Invited
Tetsushi Murao
Research Workshop (Dept. of Economic Engineering) 2014.5
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Entry Barriers and Growth through Reallocation with Heterogeneous Schumpeterian Effect (co-authored with Makoto Nirei) International conference
Tetsushi Murao
European Association for Research in Industrial Economics, 40th Annual Conference 2013.9
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The Long-run Phillips Curve in the Dual Economy with Incomplete Insurance Markets International conference
Tetsushi Murao
Society for Computational Economics, CEF2013 2013.7
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"Entry and Productivity Growth: Evidence from Estimated Firm Dynamics Model” (co-authored with Makoto Nirei) International conference
Tetsushi Murao
The 2nd Asia-Pacific Innovation Conference 2011.5
Professional Memberships
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Japanese Economic Association
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Society for Computational Economics
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European Association for Research in Industrial Economics
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Royal Economic Society
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European Economic Association
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American Economic Association
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The Econometric Society
Academic Activities
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Chairmanship International contribution
2016 Asian Meeting of the Econometric Society （ Kyoto University and Doshisha University Japan ） 2016.8
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Discussant International contribution
European Association for Research in Industrial Economics, 40th Annual Conference （ University of Evora Portugal ） 2013.8 - 2013.9
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Chairmanship International contribution
Society for Computational Economics, CEF2013 （ Canada ） 2013.7
Research Projects
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Pricing Algorithms and Market Efficiency: analysis using multi-agent deep reinforcement learning models
Grant number：25K05079 2025.4 - 2029.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C)
Tetsushi MURAO
Authorship：Principal investigator Grant type：Scientific research funding
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Uncovering the Optimal Mix of Innovation Policies: A Quantitative Spatial Dynamic Model Analysis
Grant number：21K01462 2021.4 - 2025.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C)
Tetsushi MURAO
Authorship：Principal investigator Grant type：Scientific research funding
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Quantifying Interactive Impacts of the Deregulation and Trade Liberalization on the Macroeconomy (Support for the Establishment of Independent Research Bases for Young Researchers (Trial))
Grant number：17K13732 2017.4 - 2021.3
Japan Society for the Promotion of Science Grants-in-Aid for Scientific Research Grant-in-Aid for Young Scientists (B)
Tetsushi MURAO
Authorship：Principal investigator Grant type：Scientific research funding
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Quantifying Interactive Impacts of the Deregulation and Trade Liberalization on the Macroeconomy
Grant number：17K13732 2017.4 - 2021.3
Grants-in-Aid for Scientific Research Grant-in-Aid for Young Scientists (B)
Tetsushi MURAO
Authorship：Principal investigator Grant type：Scientific research funding
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Quantifying Interactive Impacts of the Deregulation and Trade Liberalization on the Macroeconomy (QR Program)
2017.4 - 2021.3
Kyushu University QR Program for "Support for the Establishment of Independent Research Bases for Young Researchers (Trial)"
Tetsushi MURAO
Authorship：Principal investigator Grant type：On-campus funds, funds, etc.
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Deregulation and Productivity Growth: Quantitative Policy Evaluation using Dynamic Industry Models
Grant number：26780147 2014.4 - 2017.3
Grants-in-Aid for Scientific Research Grant-in-Aid for Young Scientists (B)
Tetsushi MURAO
Authorship：Principal investigator Grant type：Scientific research funding
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Dynamic Quantitative Policy Evaluation for Green Durable Goods Substitution using MPEC
2014
Kyushu University P&P Program
Tetsushi MURAO
Authorship：Principal investigator Grant type：On-campus funds, funds, etc.
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Structural Estimation to Identify Demand and Supply Factors for Innovation
2013
Kyushu University P&P Program
Tetsushi MURAO
Authorship：Principal investigator Grant type：On-campus funds, funds, etc.
Class subject
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現代経済学特研Ⅰ / Topics in Economics I (Reinforcement Learning)
2025.4 - 2025.8 First semester
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現代経済学特研Ⅱ / Topics in Economics II (Reinforcement Learning)
2025.10 - 2026.2 Second semester
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経済工学演習（村尾ゼミ）
2013.4 - 2026.2 Full year
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マクロ経済学Ⅰ・Ⅱ
2013.4 - 2025.8 First semester
Activities contributing to policy formation, academic promotion, etc.
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2013.4 Federal Reserve Bank of Boston
FRB Boston Economic Conference "Fulfilling the Full Employment Mandate: Monetary Policy and the Labor Market"
https://www.bostonfed.org/employment2013.aspx