THE JAPAN SOCIETY OF MONETARY ECONOMICS
2012 Autumn Annual Meeting Program

Last updated date: September 18, 2012

September 15th, Saturday

<9:30~ >Registration:Front Entrance of the Main Building

<10:00 ~12:15>

A(Room D201)
Panel Session: Financial History
Beginning of the BOJ underwriting of government bonds in 1932
  • Chair
  • Hosei University
  • Masayoshi Tsurumi
(1)Changing of Ways of Government Bonds Issue in 1932
  • Presenter
  • Konan University
  • Akira Ehiro
(2)Syndicate Banks and Selling Operation, 1931-1937
  • Presenter
  • Reitaku University
  • Masanori Sato
  • Discussant
  • Keio University
  • Eisaku Ide
  • Tokyo Keizai University
  • Hiroshi Kamae
  • Nihon University
  • Juro Teranishi
B(Room D202)
Panel Session: Economic Reconstruction after the Earthquake Disaster
Agenda on Financial System, Public Finance and Regulations for Post-earthquake Recovery
  • Chair
  • Tohoku Fukushi University
  • Osamu Kamoike
(1)Issues and Agenda on Small-firm Finance in Tohoku Area: Evidence from Tohoku University Earthquake Recovery Firm Survey (TERFS)
  • Presenter
  • Tohoku University
  • Shin-Ichi Nishiyama
(2)Financial Issues and Agenda in Tohoku Area after the Earthquake
  • Presenter
  • Tohoku Local Financial Bureau
  • Koji Myouse
(3)Post-earthquake Recovery and Public Finance
  • Presenter
  • Hitotsubashi University
  • Motohiro Sato
  • Discussant
  • Aoyamagakuin University
  • Tomoko Aizawa
  • Mizuho Research Institute
  • Arito Ono
C(Room D301)
Session: Asian Finance
  • Chair
  • Aichi University
  • Yutaka Kurihara
(1)Capital Structure, Investment, and Growth of Listed Companies in Vietnam: An Estimation of the Influence of State Ownership by 3SLS
  • Presenter
  • Ph.D. Student, Hitotsubashi University
  • Lai Thi Phuong Nhung
  • Discussant
  • Hiroshima Shudo Univerisity
  • Nguyen Duc Lap
(2)Concentration and Competition in the Banking Sector of Bangladesh: An Empirical Investigation
  • Presenter
  • Ritsumeikan Asia Pacific University
  • Yasushi Suzuki
  • University of Chittagong, Bangladesh
  • S.M.Sohrab Uddin
  • Discussant
  • Institute of Developing Economies -
  • Japan External Trade Organization
  • Jun Saito
(3)Islamic Rates of Return and Conventional Interest Rates in Malaysian Deposit Market
  • Presenter
  • Niigata University
  • Takayasu Ito
  • Discussant
  • Toyo University
  • Rika Nakagawa
D(Room D302)
Session: Empirical Analysis of Financial Markets
  • Chair
  • Hitotsubashi University
  • Takashi Misumi
(1)The Fisher Effect under the Zero Interest Rate Policy
  • Presenter
  • Soka University
  • Koji Kobayashi
  • Discussant
  • Niigata University
  • Takayasu Ito
(2)Long Memory in the Japanese Commodity Futures Market Volatility
  • Presenter
  • Nihon University
  • Hidetoshi Mitsui
  • Discussant
  • Nagasaki University
  • Hiroshi Moriyasu
E(Room D401)
Session: Retail and Regional Finance
  • Chair
  • Nagoya University
  • Nobuyoshi Yamori
(1)Study on the Financial Inclusion Policy in the UK: Impact of the Legislative Reform Order in Credit Union
  • Presenter
  • Seijo University
  • Shinya Minegishi
  • Discussant
  • Nihon University
  • Tsutomu Hasegawa
(2)Support Network through the Combined Efforts of the Government and the Private Sector in U. S. Community Developments
  • Presenter
  • Osaka City University
  • Yuki Morinaka
  • Discussant
  • Komazawa University
  • Tadashi Saito
(3)US Consumer Credit and Retail Finance
  • Presenter
  • Meijo University
  • Shin-ichiro Maeda
  • Discussant
  • Shizuoka University
  • Hiromu Ishiro
F(Room D402)
Session: Monetary Policy
  • Chair
  • Kobe University
  • Teruyoshi Kobayashi
(1)How Does Oligopolistic of Banking Market Affects Monetary Policy?
  • Presenter
  • Hirosaki University
  • Yasuhiro Yamamoto
  • Discussant
  • Chuo University
  • Eiji Okuyama
(2)Robust Control and Asymmetries in Central Bank Forecasting
  • Presenter
  • Kurume University
  • Taro Ikeda
  • Discussant
  • Bank of Japan
  • Ichiro Muto
(3)The Balance Sheet Channel of Monetary Policy: Evidence from the Panel Data of Japanese Manufacturing Firms
  • Presenter
  • Chuo University
  • Koichi Masuda
  • Discussant
  • Kansai University
  • Yuzo Honda
G(Room D403)
Session: Financial System
  • Chair
  • Matsuyama University
  • Tatsuro Kakeshita
(1)Frontier of the Payment System Theory: Ontology to Epistemology
  • Presenter
  • Social Science Laboratory Association
  • Kenji Kouno
  • Discussant
  • Reitaku University
  • Nakajima Masashi
(2)Financial System as a Public Good in an Overlapping-Generations Economy
  • Presenter
  • Keio University
  • Shuhei Shiozawa
  • Discussant
  • Kanagawa University
  • Yoshikiyo Sakai

<12:15~13:30>Lunch

<13:30~15:45>

A(Room D201)
Panel Session: Central Banking
Central Bank Communication with Financial Markets
  • Chair
  • Kobe University
  • Toshiki Jinushi
(1)Central Bank Independence Reconsidered: A Case of the Bank of Japan
  • Presenter
  • Sophia University
  • Yosuke Takeda
  • NLI Research Institute
  • Yasuhide Yajima
  • Discussant
  • Kobe University
  • Wataru Takahashi
(2)Is the ECB Communication Policy Effective?―European Central Bank Communication with Financial Markets―
  • Presenter
  • Kansai University
  • Sadayoshi Takaya
  • Discussant
  • Bank of Tokyo-Mitsubishi UFJ
  • Mitsuru Yaguchi
(3)Fed's Communications with Markets under the Non-conventional Monetary Policies
  • Presenter
  • Osaka Prefecture University
  • Minoru Tachibana
  • Discussant
  • Mitsubishi UFJ Morgan Stanley
  • Masatoshi Moriyama
B(Room D202)
Panel Session: International Finance
Japan-China Financial Cooperation and Stability of International Markets
  • Chair
  • Meiji University
  • Etsuko Katsu
(1)Japan-China Financial Cooperation and the Internationalization of RMB
  • Presenter
  • Ministry of Finance
  • Tsuyoshi Kurihara
(2)Yen-RMB Direct Foreign Exchange Markets and International Payment System in Asia
  • Presenter
  • Shinkin Central Bank
  • Yosuke Tsuyuguchi
(3)Internationalization of RMB and Hong Kong International Financial Market
  • Presenter
  • Kyoto Women’s University
  • Kazuo Toritani
  • Discussant
  • Yokohama National University
  • Takao Kamikawa
C(Room D301)
Session: International Finance 1
  • Chair
  • Hitotsubashi University
  • Eiji Ogawa
(1)Global Retail Banking in Emerging Markets: Developments in Brazil & Beyond
  • Presenter
  • Ph. D. Student, Kyushu University
  • Dustin J. Brewer
  • Discussant
  • Tohoku Gakuin University
  • Masashi Igakura
(2)Changing Operational Efficiency of Major Southeast Asian Commercial Banks Including Foreign Banks
  • Presenter
  • Hitotsubashi University
  • Hidenobu Okuda
  • Ph.D. Student, Hitotsubashi University
  • Yasushi Take
  • Discussant
  • Japan Research Institute
  • Satoshi Shimizu
(3)The Surroundings around the Financing for Japanese Overseas Subsidiaries, and the Classification of Actual Financing Schemes
  • Presenter
  • Japan Finance Corporation
  • Yasuo Unakami
  • Discussant
  • Chuo University
  • Tadanobu Nemoto
D(Room D302)
Session: Macro Prudential Policy
  • Chair
  • Kagawa University
  • Hiroshi Fujii
(1)Revision of BIS Capital Adequacy and the Impact on Global Economy
  • Presenter
  • Hiroshima Shudo University
  • Norio Nakai
  • Discussant
  • Chukyo University
  • Kunihiro Hanabusa
(2)Macro-Prudential and Monetary Policies in a Small Open Economy
  • Presenter
  • Nagoya University
  • Kenya Takaku
  • Kobe University
  • Shigeto Kitano
  • Discussant
  • Kyushu University
  • Chikafumi Nakamura
E(Room D401)
Session: The Roles of Public Sector in the Financial System
  • Chair
  • Meiji University
  • Yoshio Watanabe
(1)Analyses of Public Investment Shock in Japan: Factor Augmented Vector Autoregressive Approach
  • Presenter
  • Keio University
  • Kazuki Hiraga
  • Kobe University
  • Takao Fujii
  • University of Marketing and Distribution Sciences
  • Masufumi Kozuka
  • Discussant
  • Shiga University
  • Masaaki Tokuda
(2)The Effect of Preventing Business Failures by Emergency Credit Guarantee System
  • Presenter
  • Ph. D. Student, Doshisha University
  • Eriko Naiki
  • Discussant
  • Nagoya University
  • Nobuyoshi Yamori
F(Room D402)
Session: Theoretical and Empirical Analyses of Stock Markets
  • Chair
  • Keio University
  • Takashi Kaneko
(1)Effects of Differences of Opinion on Trading Volume and Volatility
  • Presenter
  • Ph. D. Student, Keio University
  • Naoshi Ikeda
  • Discussant
  • Osaka University
  • Wataru Ohta
(2)Short Selling Restrictions and Asset Price Fluctuation
  • Presenter
  • Okayama Shoka University
  • Hisashi Kojima
  • Discussant
  • Kansai University
  • Katsuya Ue
G(Room D403)
Session: Household Financial Behavior
  • Chair
  • Waseda University
  • Fumihiko Hiruma
(1)The Effect of Financial Education on Household Portfolio Selection
  • Presenter
  • Prefectural University of Hiroshima
  • Keiko Murakami
  • Kyoto Sangyo University
  • Yoshiko Nishimura
  • Discussant
  • Hokusei Gakuen University
  • Takeo Minaki
(2)Risk Perception and Formation Processes in the Financial Products Demands as Life Security: Life Insurance, General Insurance, Saving Deposit, Securities
  • Presenter
  • Japan Institute of Life Insurance
  • Susumu Hayashi
  • Discussant
  • Kagoshima University
  • Kunikazu Nagata
(3)How Bequests Change Regional Household Financial Assets
  • Presenter
  • Nomura Institute of Capital Markets Research
  • Sachiko Miyamoto
  • Discussant
  • Waseda University
  • Fumihiko Hiruma

<16:00~17:00>Invited Lecture

H(Room A101)
The Rise of China: Opportunities and Challenges for Japan
  • Chair
  • President of the Japan Society of Monetary Economics,
  • Doshisha University
  • Hideo Fujiwara
  • Speaker
  • Nomura Institute of Capital Markets Research
  • Chi Hung Kwan

<17:10~18:10>

H(Room A101)General Meeting

<18:30~20:30> Reception
COOP Restaurant Room

September 16th, Sunday

<9:30~ > Registration: Front Entrance of the Main Building

<10:00~12:30>

I(Room C302)
Japan-Korea Partnership Session:
Towards Stabilization of Financial Markets
  • Chair
  • University of Tokyo
  • Shin-ichi Fukuda
(1)Estimating Monetary Policy Rules When Interest Rates Are Stuck at Zero
  • Presenter
  • Korea University
  • Jinill Kim
  • Discussant
  • Bank of Japan
  • Ryou Katou
(2)Bayesian Stock Market Instability Index
  • Presenter
  • Keimyung University
  • Tae Yoon Kim
  • Yonsei University
  • Kyung Ju Oh
  • Hana Institute of Finance
  • Chiho Kim
  • Discussant
  • Hitotsubashi University
  • Toshiaki Watanabe
(3)A Unified Model: Arbitrage-free Term Structure Movements of Flow Risks
  • Presenter
  • Thomas Ho Company
  • Thomas S. Y. Ho
  • Presenter
  • Hanyang University
  • Sang Bin Lee
  • Discussant
  • University of Tokyo
  • Shin-ichi Fukuda
C(Room D301)
Session: International Finance 2
  • Chair
  • Nagoya University
  • Yuichi Kanai
(1)Vision for a Basket Currency in Asia from a Corporate Finance Viewpoint
  • Presenter
  • Mizuho Corporate Bank
  • Hiroshi Akabane
  • Discussant
  • Kyushu University
  • Kenji Iwata
(2)The Modern Feature of International Capital Movement: U. S. Financial Market and International Capital Movement
  • Presenter
  • Meijo University
  • Akio Takayama
  • Discussant
  • Hiroshima Shudo University
  • Akito Kawamoto
D(Room D302)
Session: Finance
  • Chair
  • Aichi Gakuin University
  • Shigeru Uchida
(1)Organizational Complexity and the Speed of Adjustment toward Target Leverage
  • Presenter
  • Hitotsubashi University
  • Masaru Konishi
  • Ph.D. Student, Hitotsubashi University
  • Kan Nakajima
  • Discussant
  • Tokyo Keizai University
  • Masaya Ishikawa
(2)The Relationship between Business Cycle and Personal Default: Using Hierarchical Bayes Panel Probit Model for Testing
  • Presenter
  • Mitsubishi Research Institute
  • Hiroshi Okumura
  • Kobe University
  • Yoichi Matsubayashi
  • Discussant
  • Bank of Japan
  • Takashi Isogai
E(Room D401)
Session: International Finance 3
  • Chair
  • Tokyo Keizai University
  • Hiroshi Kamae
(1)Financial Market Imperfection in an Open Economy
  • Presenter
  • Okayama Shoka University
  • Daisuke Ida
  • Discussant
  • Aichi University
  • Hiroshi Kurihara
(2)Life-time of Limit Orders in the EBS Foreign Exchange Spot Market
  • Presenter
  • Nagasaki University
  • Masayuki Susai
  • Kyushu Sangyo University
  • Yushi Yoshida
  • Discussant
  • Hokusei Gakuen University
  • Takeo Minaki
F(Room D402)
Session: Financial System in China
  • Chair
  • Osaka City University
  • Takumi Kiyota
(1)Essential for Improving the Rural Financial System of China: Rural Land System Reform
  • Presenter
  • Ph. D. Student, Hitotubashi University
  • Zhang Yan
  • Discussant
  • Kumamoto Gakuen University
  • Tadashi Sakamoto
(2)Private Equity Placements and the Market Responses in China
  • Presenter
  • Ph. D. Student, Doshisha University
  • Yu Jie
  • Doshisha University
  • Mikiyo Niizeki
  • Discussant
  • Aoyama Gakuin University
  • Akiko Kamesaka
G(Room D403)
Session: Financial History
  • Chair
  • Reitaku University
  • Masanori Sato
(1)Dajokan-satsu, Government Treasury and the Shoho-ji
  • Presenter
  • Doshisha University
  • Yoshiaki Shikano
  • Discussant
  • Kokushikan University
  • Yasutoshi Noshita
(2)The Business Model and Decline of Modern China "Qianzhuang"
  • Presenter
  • Reitaku University
  • Yuxiong Chen
  • Discussant
  • Waseda University
  • Kazuhiko Yago

<12:15~13:30>Lunch

<13:30~16:30>

H(Room A101)
Symposium: Economic Growth of Asia and Financial Linkage with Japan
  • Chair
  • Keio University
  • Naoyuki Yoshino
(1)Infrastructure Investment and Finance by JBIC to Asia
  • Presenter
  • Japan Bank for International Cooperation
  • Hiroshi Watanabe
(2)Financial Cooperation around Asia
  • Presenter
  • Ministry of Finance
  • Osamu Nakamura
(3)Growth Opportunity for Japanese Financial Institutions in Asia
  • Presenter
  • Deutsche Securities
  • Yoshinobu Yamada
(4)Role and Impact of Foreign Banks in Asia: Focusing on Thailand and China
  • Presenter
  • Yamagata University
  • Masaki Yamaguchi

Closing Remarks

University of Kitakyushu  Yurio Mukai


Program committee

  • Yoichi Kawanami (Kyushu University, Chair)
    Tatsuro Kakeshita (Matsuyama University)
    Takashi Kaneko (Keio University)
    Yutaka Kurihara (Aichi University)
    Toshiki Jinushi (Kobe University)
    Yasushi Hayashi (Rissho University)
    Shin-ichi Fukuda (University of Tokyo)
    Seiichi Fujita (Kobe University)
    Jun Maeda (University of Kitakyushu)
    Junji Yano (Hiroshima University)
    Yoshio Watanabe (Meiji University)
  • Eiji Ogawa (Hitotsubashi University)
    Yuichi Kanai (Nagoya University)
    Takumi Kiyota (Osaka City University)
    Masanori Sato (Reitaku University)
    Shin-ichi Nishiyama (Tohoku University)
    Fumihiko Hiruma (Waseda University)
    Hiroshi Fujii (Kagawa University)
    Takashi Misumi (Hitotsubashi University)
    Yurio Mukai (University of Kitakyushu)
    Nobuyoshi Yamori (Nagoya University)

Preparatory Committee (University of Kitakyushu)

  • Yurio Mukai (Chair)
  • Naohisa Goto
  • Hiroshi Takeda
  • Jun Maeda

Access to Kitagata Campus, University of Kitakyushu

http://www.kitakyu-u.ac.jp/access/kitagata.html