Susumu Imai

Biography

Susumu Imai joined the Economics Discipline Group in January 2013. He has received his PhD in economics from the University of Minnesota in 1998 and has held an academic position at the Pennsylvania State University, Concordia University and Queen's University.
Please visit his personal website.

Associate Professor, Economics Discipline Group
Philosophy/Economics
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Phone
+61 2 9514 7720
Room
CB05D.03.22A

Research Interests

Empirical Labor Economics, Empirical Industrial Organization, Empirical Trade, Bayesian Econometrics.

Can supervise: Yes

Journal Articles

Imai, S., Katayama, H. & Krishna, K. 2013, 'A quantile-based test of protection for sale model', Journal of International Economics, vol. 91, no. 1, pp. 40-52.
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This paper proposes a new test of the Protection for Sale (PFS) model by Grossman and Helpman (1994). Unlike existing methods in the literature, our approach does not require any data on political organization. We use quantile and IV quantile regressions in our tests, using the data from Gawande and Bandyopadhyay (2000). Surprisingly, the results do not provide any evidence favoring the PFS model. We also explain why previous work may have found support for it.
Ching, A., Imai, S., Ishihara, M. & Jain, N. 2012, 'A practitioner's guide to Bayesian estimation of discrete choice dynamic programming models', Quantitative Marketing and Economics, vol. 10, no. 2, pp. 151-196.
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This paper provides a step-by-step guide to estimating infinite horizon discrete choice dynamic programming (DDP) models using a new Bayesian estimation algorithm (Imai et al., Econometrica 77:1865+1899, 2009a) (IJC). In the conventional nested fixed point algorithm, most of the information obtained in the past iterations remains unused in the current iteration. In contrast, the IJC algorithm extensively uses the computational results obtained from the past iterations to help solve the DDP model at the current iterated parameter values. Consequently, it has the potential to significantly alleviate the computational burden of estimating DDP models. To illustrate this new estimation method, we use a simple dynamic store choice model where stores offer +frequent-buyer+ type rewards programs. Our Monte Carlo results demonstrate that the IJC method is able to recover the true parameter values of this model quite precisely. We also show that the IJC method could reduce the estimation time significantly when estimating DDP models with unobserved heterogeneity, especially when the discount factor is close to 1.
Imai, S., Jain, N. & Ching, A. 2009, 'Bayesian estimation of dynamic discrete choice models', Econometrica, vol. 77, no. 6, pp. 1865-1899.
Imai, S., Katayama, H. & Krishna, K. 2009, 'Protection for sale or surge protection?', European Economic Review, vol. 53, no. 6, pp. 675-688.
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Imai, S., Katayama, H. & Krishna, K. 2009, 'Is protection really for sale? A survey and directions for future research', International Review of Economics and Finance, vol. 18, no. 2, pp. 181-191.
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Cherkashin, I., Demidova, S., Imai, S. & Krishna, K. 2009, 'The inside scoop: Acceptance and rejection at the journal of international economics', Journal of International Economics, vol. 77, no. 1, pp. 120-132.
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Imai, S. & Keane, M. 2004, 'Intertemporal Labor Supply and Human Capital Accumulation', International Economic Review, vol. 45, no. 2, pp. 601-641.
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We solve and estimate a dynamic model that allows agents to optimally choose their labor hours and consumption and that allows for both human capital accumulation and savings. Estimation results and simulation exercises indicate that the intertemporal elasticity of substitution is much higher than the conventional estimates and the downward bias comes from the omission of the human capital accumulation effect. The human capital accumulation effect renders the life-cycle path of the shadow wage relatively flat, even though wages increase with age. Hence, a rather flat life-cycle labor supply path can be reconciled with a high intertemporal elasticity of substitution.
Imai, S. & Krishna, K. 2004, 'Employment, deterrence, and crime in a dynamic model', International Economic Review, vol. 45, no. 3, pp. 845-872.
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Erdem, T., Imai, S. & Keane, M. 2003, 'Brand and quantity choice dynamics under price uncertainty', Quantitative Marketing and Economics, vol. 1, no. 1, pp. 5-64.