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Portrait of Masahiro Yoshida

Masahiro (Masa) Yoshida

Welcome to my website! I am an Associate Professor at the Faculty of Political Science and Economics, Waseda University.

I am on the academic job market in Fall/Winter 2026.

Research

Fields
Applied econometrics, labor economics, environmental economics, and macroeconomics
Interests
Climate change and the reallocation of jobs; man vs. machine in an aging economy
Methods
Applied econometrics, structural modeling, and experiments

Education

  • Ph.D. in Economics, 2020
    Washington University in St. Louis
  • M.A. in Economics, 2016
    Washington University in St. Louis
  • M.A. in Economics, 2014
    The University of Tokyo
  • B.A. in Economics, 2010
    The University of Tokyo

Selected Works

Too Hot to Work? The Erosion of Male Comparative Advantage in Outdoor Jobs
Masahiro Yoshida
October 2026·Major Revision Requested at Journal of Labor Economics·Job Market Paper
I document that men without college degrees increasingly work outdoors, as indoor job opportunities shrink. Rising temperatures drive labor force withdrawal by eroding their comparative advantage in outdoor jobs.
Abstract

Non-college men have increasingly worked outdoors and left the labor force since the 1970s. I develop and test a task-based model in which heat lowers men’s outdoor productivity and raises the relative value of time at home, drawing them out of work. Using work-hour temperature across US commuting zones in 1980–2019, I find that manufacturing decline pushed men outdoors and that hot days reduce men’s participation through both outdoor and indoor jobs unprotected by air conditioning, with little effect on women. Within commuting zones, more exposed occupations lose both employment and wages, pointing to falling labor demand. Warming explains about 10% of the decline among non-college men, mostly through weak attachment rather than permanent exit. A model-based formula suggests that air conditioning in unprotected indoor workplaces would have avoided about a quarter of the resulting income losses.

Climate Change and the Decline of Labor Share
Xincheng Qiu, Masahiro Yoshida
May 2026·Accepted at American Economic Journal: Macroeconomics
We provide a novel hypothesis for the puzzle of the U.S. labor share decline since 2000: climate change speeds up labor-saving technological change (e.g., robot adoption), as capital may be more resistant to temperature than labor.
Abstract

We study the impact of climate change on the labor share. Combining newly constructed US county-industry-level labor shares with climate variables, we find that extreme temperatures reduce the labor share, with stronger effects in industries with higher climate exposure and automation potential. Extreme temperatures also accelerate robot adoption. A back-of-the-envelope calculation suggests that the within-county-industry response to climate change accounts for 15% of the decline in labor share since 2000. Over the 20th century, however, the opposing effects of decreased cold days and increased hot days offset each other, consistent with the historical stability of labor share.