Tamon Takamura

Senior Economist

Tamon Takamura is a Senior Economist in the Financial Studies Division in the Financial Stability Department. He is a macroeconomist whose primary interests include macroeconomic implications of real-financial linkages and monetary economics. Specific topics include banks’ capitalization, capital regulations and transmission mechanisms of monetary policy. Tamon Takamura received his PhD in economics from the Ohio State University.

Contact

Tamon Takamura

Senior Economist
Financial Stability
Financial Studies

Bank of Canada
234 Laurier Avenue West
Ottawa, ON, K1A 0G9

Latest

Output Comovement and Inflation Dynamics in a Two-Sector Model with Durable Goods: The Role of Sticky Information and Heterogeneous Factor Markets

Staff Working Paper 2016-36 Tomiyuki Kitamura, Tamon Takamura
In a simple two-sector New Keynesian model, sticky prices generate a counterfactual negative comovement between the output of durable and nondurable goods following a monetary policy shock. We show that heterogeneous factor markets allow any combination of strictly positive price stickiness to generate positive output comovement.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Inflation and prices, Transmission of monetary policy JEL Code(s): E, E3, E31, E32, E5, E52

A General Equilibrium Model with Banks and Default on Loans

Staff Working Paper 2013-3 Tamon Takamura
During the recent financial crisis in the U.S., banks reduced new business lending amidst concerns about borrowers’ ability to repay. At the same time, firms facing higher borrowing costs alongside a worsening economic outlook reduced investment.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Business fluctuations and cycles, Economic models, Financial stability JEL Code(s): E, E3, E32, E4, E44, E6, E69

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Other

Journal Articles

  • "The Liquidity Trap and Optimal Monetary Policy: A Survey,"
    (in Japanese with Tsutomu Watanabe), The Economic Review, Vol. 57, No. 4, October 2006, 358-371

Other research

  • “Optimal Monetary Policy at the Zero Interest-Rate Bound: The Case of Endogenous Capital Formation,”
    (with T. Kudo and T. Watanabe), Research Center for Price Dynamics Working Paper Series No.3, November 2006
  • “Can Sticky Information Solve Comovement Problems in a Two-Sector Model with Durable Goods?”
    (with Tomiyuki Kitamura), 2009   

Work in progress

  • “Financial Institution Dynamics and Capital Regulations”
    (with Jose-Victor Rios-Rull and Yaz Terajima)
  • “(S, s) Inventories, State-Dependent Prices, and the Propagation of Nominal Shocks”
    (with Aubhik Khan and Julia Thomas)

Archives

Bank Publications

Education

  • Ph.D, The Ohio State University (2012)

Research Interests

  • Macro and monetary economics
  • Business-cycle theory
  • Computational economics

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