THE JAPAN SOCIETY OF MONETARY ECONOMICS
2010 Autumn Annual Meeting Program

Last updated date: August 7, 2010

September 25th, Saturday

RegistrationFront Entrance of the Main Hall, 9:30～

<10:00～12:15>

A１(Room 102) Panel Session: Financial History
The Sterling Crisis in 1931

• Chair
• Reitaku University
• Masanori Sato

（1）The Sterling Crisis and Abandon Gold in 1931

• Presenter
• Nagoya University
• Yuichi Kanai

（2）The sterling crisis of 1931: an analysis of spot and forward rates in the London foreign exchange market

• Presenter
• PhD Student, Hitotsubashi University
• Hidenao Takahashi

（3）Propagation to Japan: From the Viewpoint of An Small Open Economy

• Presenter
• Bank of Japan
• Masato Shizume

• Discussant
• Nihon University
• Makoto Kishida

• Discussant
• Tokyo Metropolitan University
• Kazuhiko Yago

B1 (Room 206)　Session：Monetary Policy １

• Chair
• Kwansei Gakuin University
• Atsushi Tanaka

（1）An empirical examination of the announcement effect of zero interest rate and quantitative easing policies

• Presenter
• Doshisha University
• Kunihiro Hanabusa

• Discussant
• Sophia University
• Yosuke Takeda

（2）Analysis of Monetary Policy using Tomorrow Next Data

• Presenter
• Ritsumeikan University
• Kohei Aono

• Discussant
• Kansai University
• Yuzo Honda

（3）Policy Duration Effects and Economic Growth: The Case of Japan

• Presenter
• Okayama Shoka University
• Masafumi Kozuka

• Discussant
• Bank of Japan
• Nobuyuki Oda

C1 (Room 306)　Session：Analyses of Shinkin Banks

• Chair
• Kinki University
• Yuichi Abiko

（1）Geographic Expansion, and Cost Efficiency: Evidence of Japanese Shinkin Bank

• Presenter
• Ph.D. Student, Kobe University
• Takayoshi Nakaoka

• Discussant
• Ritsumeikan University
• Kozo Harimaya

（2）Panel analysis of regional economic power and shinkin-bank loans
～Aging analysis of from 1999 to 2008～

• Presenter
• Ph.D. Student, Ritsumeikan University
• Kiyotsugu Yoshihara

• Discussant
• Doshisha University
• Toshikatsu Noma

（3）Market segmentation in the regional loan market and efficiency of cooperative banks (shinkin) ―Has the consolidation contributed to efficiency?―

• Presenter
• Musashi University
• Tsutomu Chano

• Musashi University
• Rokuro Watanabe

• Musashi University
• Saburo Suzuki

• Discussant
• Kansai Gaidai University
• Yasuhiro Horie

D1 (Room 230)　Session：Finance in Asia １

• Chair
• Hiroshima University
• Junji Yano

（1）Role of International Project Finance for Economic Development

• Presenter
• Kinki University
• Hidefumi Yamagami

• Discussant
• Keio University
• Naoyuki Yoshino

（2）Debt Sustainability Analysis for Indonesia through Balance Sheet Approach

• Presenter
• Japan Bank for International Cooperation
• Atsushi Masuda

• Japan Bank for International Cooperation
• Naoko Yokobori

• Japan Bank for International Cooperation
• Hitoshi Oshige

• Discussant
• Toyo University
• Kentaro Kawasaki

（3）Bank Diversification and Monetary Policy

• Presenter
• Daito Bunka University
• Hiroshi Gunji

• University of Tokyo
• Yuan Yuan

• Discussant
• Osaka International University
• Masahiro Enya

E1 (Room 232)　Session：International Finance 1

• Chair
• Meiji Gakuin University
• Yuri Sasaki

（1）Financial Conditions Index and Business Cycles in Japan

• Presenter
• Osaka University
• Jun-ichi Shinkai

• Discussant
• Doshisha University
• Shingo Iokibe

（2）International Transmission of Business Cycles: Evidence from Dynamic Correlations

• Presenter
• Kobe University
• Kentaro Iwatsubo

• Ph.D. Student, Kobe University
• Taro Ikeda

• Austria National Bank
• Jarko Fidrmuc

• Discussant
• Musashi University
• Sanae Ohno

（3）Financial crisis, exchange rate and stock market integration

• Presenter
• Kyushu Sangyo University
• Yushi Yoshida

• Discussant
• Kobe City University of Foreign Studies
• Taro Esaka

F1 (Room 320)　Session：Financial Markets

• Chair
• Keio University
• Takashi Kaneko

（1）Influence that bring down the maximum allowable interest rate gives to the loan market

• Presenter
• Saga University
• Yusuke Miyoshi

• Saga University
• Haruhiko Tsuzuki

• Discussant
• Kobe University
• Kenji Matsui

（2）Distress in Money Market under Global Financial Crisis：Analysis of Co-movement and Transmission

• Presenter
• Niigata University
• Takayasu Ito

• Discussant
• Aichi University
• Yutaka Kurihara

（3）The two financial crisis and Japanese firms bankruptcies

• Presenter
• Institute of Statistical Mathematics
• Kentaro Akashi

• University of Tokyo
• Shin-ichi Fukuda

• Bank of Japan
• Munehisa Kasuya

• Discussant
• Yokohama City University
• Seien Zui

G1 (Room 332)　Session：Financial System and Regulations

• Chair
• Osaka City University
• Takumi Kiyota

（1）Development of the clearing-settlement scheme and payment systems

• Presenter
• Japanese Bankers Association
• Yasushi Yoshida

• Discussant
• The Bank of Tokyo-Mitsubishi UFJ,Ltd.
• Jun-ichi Shukuwa

（2）Analysis of Post-FDICIA Financial Regulations in the U.S.

• Presenter
• Saitama University
• Natsuo Nishio

• Discussant
• Meijo University
• Shin-ichiro Maeda

（3）The Optimal Basel Capital Requirement to Cope with Pro-cyclicality: A Theoretical Approach

• Presenter
• Keio University
• Naoyuki Yoshino

• Financial Services Agency
• Tomohiro Hirano

• Discussant
• Aomori Public College
• Yoshinori Kon

<12:25-13:30> LunchCafeteria(1F) and Restaurant Sakura(3F), Academia Hall

<13:30～15:45>

A2 (Room 102) Panel Session: Central Banking
New Theories on Central Banking in Perspective

• Chair
• Sophia University
• Yosuke Takeda

• NLI Research Institute
• Yasuhide Yajima

（1）Asset Prices

• Presenter
• London School of Economics and Bank of Japan
• Kosuke Aoki

（2）Credit Risks

• Presenter
• Bank of Japan
• Naohisa Hirakata

（3）Fiscal Policy and Monetary Policy

• Presenter
• Hokkaido University
• Noritaka Kudoh

• Discussant
• Bank of Japan
• Shigenori Shiratsuka

• Discussant
• University of Tokyo
• Yasushi Iwamoto

B2 (Room 206)　Session：Regional Banking in Japan

• Chair
• Tokyo Metropolitan University
• Kazuhiko Yago

（1）The Structure of Banking in Regional Market : Evidence from Micro Data of Kyoto City

• Presenter
• Osaka Sangyo University
• Shohei Ishibashi

• Kyoto University
• Wang Ling

• Discussant
• Ritsumeikan University
• Yoshiaki Ogura

（2）Regional financial soundness and firms’ technological strategies

• Presenter
• Research Institute of Economy,Trade and Industry
• Yasuo Goto

• Discussant
• Kobe City University of Foreign Studies
• Satoru Tanaka

（3）Determinants of the Loan-to-Deposit Ratio and Effects on Regional Economy
―Dynamic Panel Estimation Approach―

• Presenter
• Development Bank of Japan／Saitama University
• Tomoyoshi Terasaki

• Discussant
• Osaka University of Economics
• Fumio Akiyoshi

C2 (Room 306)　Session：Corporate Financial Policy and Financial Markets

• Chair
• Hitotsubashi University
• Takashi Misumi

（1）Capital structure choice and target behavior: Evidence from Japan.

• Presenter
• Hiroshima University
• Masayo Shikimi

• Discussant
• Hitotsubashi University
• Masaru Konishi

（2）Change of Demand Structure before and after IPO: Focusing on Unobservability of Stock Price

• Presenter
• Ph.D. Student, Keio University
• Naoshi Ikeda

• Discussant
• Kobe University
• Katsushi Suzuki

（3）How does debt renegotiation affect capital structure? : An analysis based on the Trade-off model

• Presenter
• Ph.D. Student, Keio University
• Shintaro Tomita

• Discussant
• Waseda University
• Yasuhiro Yonezawa

D2 (Room 230)　Session：Monetary Economics ; Theory and Evidence

• Chair
• Kagawa University
• Hiroshi Fujii

（1）On the Price Dynamics in a Double Auction Market with Security and Money: Simulation Study

• Presenter
• Aoyama-Gakuin University
• Michiyoshi Hirota

• Discussant
• Osaka Sangyo University
• Kazuhito Ogawa

（2）On Effect of Pension System; A Comparative Dynamic Analysis

• Presenter
• Kobe University
• Takao Fujii

• Ph.D. Student, Kobe University
• Fumiaki Hayashi

• Kobe University
• Jun Iritani

• Discussant
• Kwansei Gakuin University
• Ken Tabata

（3）Convergence of Japanese Local CPIs with Structural Breaks

• Presenter
• Surugadai University
• Hidehiro Ikeno

• Discussant
• University of Marketing and Distribution Sciences
• Tatsuya Morisawa

E2 (Room 232)　Session：International Finance 2

• Chair
• Aichi University
• Yutaka Kurihara

（1）Patterns of the Current Account Reversals

• Presenter
• Doshisha University
• Shingo Iokibe

• Discussant
• Nagasaki University
• Ken Kudo

（2）Empirical analysis on foreign capital inflows toward commodity exporting countries

• Presenter
• Musashi University
• Sanae Ohno

• Musashi University
• Ken Togo

• Discussant
• Hitotsubashi University
• Hidenobu Okuda

（3）Exchange Rate Regimes After the Asian Currency Crisis

• Presenter
• Kobe University
• Takuji Kinkyo

• Discussant
• Chuo University
• Soko Tanaka

F2 (Room 320)　Session：Financial Institutions

• Chair
• Kansai University
• Katsuya Ue

（1）Why Does Relationship Lenders Use Small Business Credit Scoring? Evidence from the Firm-Bank Matched Data in Japan

• Presenter
• Housei University
• Hideaki Hirata

• Bank of Japan
• Arito Ono

• Japan Center for Economic Research
• Ryo Hasumi

• Discussant
• Kansai University
• Ryuichi Nakagawa

（2）Market evaluations of banks’ affiliation with security firms: Event Study Analysis in Japan

• Presenter
• Nihon University
• Michiru Sawada

• Tokyo Keizai University
• Yukihiro Yasuda

• Discussant
• Shinshu University
• Sumio Hirose

（3）The effects of entry deregulation via subsidiaries in Japanese insurance industry: Evidence on efficiency gains

• Presenter
• Ritsumeikan University
• Kozo Harimaya

• Tokyo Keizai University
• Noriyoshi Yanase

• Discussant
• Musashi University
• Tsutomu Chano

G2 (Room 332)　Session：Monetary Theory

• Chair
• Doshisha University
• Hirofumi Ueda

（1）BIS Capital Adequacy and Credit Cycle

• Presenter
• Doshisha University
• Norio　Nakai

• Discussant
• Waseda University
• Shiro Yabushita

（2）Central Banking and Deflationary Depression：A Japanese Perspective

• Presenter
• Chuo University
• Toichiro Asada

• Discussant
• Otemon University
• Naoki Matsumoto

<16:00～17:00>
Presidential Address　　　　　　　　　　　　　　Idemitsu Sazo Memorial Rokkodai Auditorium

• Chair
• Meiji University
• Takayoshi Kitaoka

On Fundamental Issues of Money and Bank Credits in the Macroeconomic Framework

• Speaker
• Doshisha University
• Hideo Fujiwara

<17:00～17:40>
General Meeting　　　　　　　　　　　　　　Idemitsu Sazo Memorial Rokkodai Auditorium

<18:00～>
Reception　　　　　　　　　　　　　　　　　　　Cafeteria, Academia Hall 1st floor

September 26th, Sunday

RegistrationFront Entrance of the Main Hall,9:00～

<9:30～11:45>

A3 (Room 102) Panel Session: International Finance
New trends of International Macroeconomics: Perspectives from New
Keynesian Open Macroeconomic Models

• Chair
• Kansai University
• Sadami Takaya

（1）Evaluation of policy effects based on the Open Economy New Keynesian model: its possibilities and limitations

• Presenter
• Hitotsubashi University
• Etsuro Shioji

（2）Business cycles and banking sector in Asian countries: role for a financial capital flow

• Presenter
• Nishogakusha University
• Katsushi Tabata

（3）On Monetary Policy Coordination: A perspective from New Open Economy　Macroeconomics

• Presenter
• Bank of Japan
• Ippei Fujiwara

• Discussant
• Nagasaki University
• Masayuki Susai

• Discussant
• Kobe University
• Shigeto Kitano

B3 (Room 206)　Session：Monetary Policy２

• Chair
• Hiroshima University
• Takashi Senda

（1）Monetary Policy Lag, Zero Lower Bound, and Inflation Targeting

• Presenter
• Cabinet Office
• Shin-Ichi Nishiyama

• Discussant
• London School of Economics and Bank of Japan
• Kosuke Aoki

（2）New Keynesian Dynamic IS Curve and Weak Identification Robust Test in GMM Estimation

• Presenter
• Ph.D. Student, Kobe University
• Shingo Umino

• Discussant
• Chiba Keizai University
• Eiji Okano

（3）Can Inflation Targeting Stabilize Inflation Expectations？

• Presenter
• Shanghai Institute of Foreign Trade
• Liu Donghua

• Discussant
• Doshisha University
• Kunihiro Hanabusa

C3 (Room 306)　Session：Finance in Asia ２

• Chair
• Kobe University
• Fumiharu Mieno

（1）Economic Growth of China and India and the Trend in Between-Nation Income Inequality: 1950－2030

• Presenter
• Osaka-Keizai University
• Yukio Fukumoto

• Discussant
• Osaka University
• Mototsugu Fukushige

（2）Operational Efficiency of the Islamic Banks in Bahrain

• Presenter
• Institute of Developing Economies
• Jun Saito

• Discussant
• Toyo University
• Rika Nakagawa

（3）Investment Behavior of Listed Companies in Vietnam

• Presenter
• Hitotsubashi University
• Hidenobu Okuda

• Ph.D. Student, Hitotsubashi University
• Lai Thi Phuong Nhung

• Discussant
• Kobe University
• Hirofumi Uchida

E3 (Room 232)　Session：Asset Prices

• Chair
• Meiji University
• Takayoshi Kitaoka

（1）About the effectiveness of C-CAPM in the Japanese assets market: The influences of instrumental variables and a weighting matrix

• Presenter
• Kushiro Public University
• Yasufumi Ozaki

• Discussant
• Okayama Shoka University
• Masafumi Kozuka

（2）Option Valuation under Bull and Bear Market Conditions

• Presenter
• Nihon University
• Hidetoshi Mitsui

• Toyo University
• Kiyotaka Satoyoshi

• Discussant
• Waseda University
• Takeuchi Asuka

（3）Price formation factor analysis of residential quarter in the Kansai region: The comparison of each city as a case

• Presenter
• Shiga University
• Masaaki Tokuda

• Discussant
• Nihon University
• Keiko Hirono

G3 (Room 332)　Session：Some Issues in Finance of Selected Countries

• Chair
• Kyushu University
• Kenji Iwata

（1）A Legal Consideration on Bad Assets Securitization of China’s Commercial Bank

• Presenter
• Ph.D. Student, Shiga University
• Zhang Lulu

• Discussant
• Meijo University
• Kiyoshi Oba

（2）U.S. Major Financial Institutions’ Profitability before and after the Subprime Crisis

• Presenter
• Matsuyama University
• Tatsuro Kakeshita

• Discussant
• Japan Securities Research Institute
• Chiaki Wakazono

（3）The German Banking-system in Global Financial Market Crisis

• Presenter
• Shizuoka University
• Hiromu Ishiro

• Discussant
• Nara Sangyo University
• Shozo Iwami

<11:45～12:50>　　Lunch

<12:50～13:50>　　Invited LectureIdemitsu Sazo Memorial Rokkodai Auditorium

• Chair
• Hitotsubashi University
• Yoshinori Shimizu

• Speaker
• President of Bank of Japan
• Masaaki Shirakawa

<14:00～17:00>
Symposium: Euro in Crisis　　　　　　　　　　Idemitsu Sazo Memorial Rokkodai Auditorium

• Chair
• Kobe University
• Seiichi Fujita

• Kansai University
• Sadami Takaya

• Presenter
• President of ESRI, Cabinet Office
• Kazumasa Iwata

• Presenter
• Doshisha University
• Noriko Hama

• Presenter
• Ritsumeikan University
• Kaoru Hoshino

<17:00>
Closing Remarks　　　　　　　　Kobe University　　Seichi Fujita

Access to the Rokkodai-Campus, Kobe University

Please get on Kobe City Bus Route 36 from Rokko station of the Hankyu line, Rokkomichi station of the JR line, or Mikage station of the Hanshin line, and get off at the “Sindai Seimon” bus stop, which is in front of the Kobe University Main gate.