Sunday October 12, 2008

09:30 to 11:45 Panel Session 1: On Central Bank
Rm. G (L102) The Independency and the Governance of the Neo-BOJ

Chair Harui, Hisashi Kwansei Gakuin University
Presenter Fujii, Yoshihiro Sophia University
Presenter Adachi, Seiji Deutsche Bank
Presenter Taya, Teizou Daiwa Institute of Research

09:30 to 11:45 Contributed Session 1
Rm. A (K103) Issues on International Monetary System
Chair Fukuda, Shin-ichi University of Tokyo

Globalism in Transition and Renminbi Issue	Presenter Zhang, Gao Graduate School, Saga University Discussant Kei, Sou Senshu University
The Adjustment Role of Labor Mobility for Asymmetric Shocks; Reconsideration of Mundell’s OCA	Presenter Yoshimi, Taiyo Graduate School, Hitotsubashi University Discussant Iokibe, Shingo Doshisha University
The Choice of Invoice Currency and Foreign Exchange Strategy: A Case Study of Japanese Companies	Presenter Shimizu, Junko Senshu University Ito, Takatoshi University of Tokyo Sasaki, Yuri Meiji Gakuin University Sato, Kiyotaka Yokohama National University Koibuchi, Satoshi Chiba University of Commerce Hayakawa, Kazunobu Institute of Developing Economies Yoshimi, Taiyo Graduate School, Hitotsubashi University Discussant Yamagami, Hidefumi Kinki University

Rm. B (K109) Financial Institution / Corporate Governance
Chair Fujiwara, Kenya Kobe University

The Investigation about Check Truncation System from a View Point of Business Strategy	Presenter Kouno, Kenji Graduate School, Kyoto University Discussant Nakajima, Masashi Reitaku University
Was the Board Reform of Japanese Firms Effective?	Presenter Omi, Yusuke Central Research Institute of Electric Power Industry Goto, Mika Central Research Institute of Electric Power Industry Discussant Teshima, Noriyuki Senshu University
Financial Liberalization and Corporate Governance – Has the Main Bank System Been Affected by Corporate Bond Issuances in Japan?	Presenter Hanazaki, Masaharu Development Bank of Japan Fukazawa, Masumi Development Bank of Japan Horiuchi, Akiyoshi Chuo University Discussant Fujiwara, Kenya Kobe University

Rm. C (K110) Impact Analysis of Financial System Reform
Chair Yoshino, Naoyuki Keio University

An Analysis on the Share of Syndicated Loan Retained by the Agent Bank	Presenter Kodani, Norito Graduate School, Kobe University Discussant Sakuragawa, Masaya Keio University
The Direction of Japanese Financial Regulation Reform	Presenter Toi, Kanako Yasuda Women痴 University Discussant Yonezawa, Yasuhiro Waseda University
The Analysis of Impact of Trading Unit Reduction	Presenter Okuyama, Eiji Chuo University Discussant Takaya, Sadayoshi Kansai University

Rm. D (K203) Asian Monetary Economy
Chair Kitaoka, Takayoshi Meiji University

The Changes of Financial Costs in Southeast Asia after the Financial Crisis: An Empirical Study of the Euler Investment Equation in Malaysia, Philippines, and Thailand	Presenter Take, Yasushi Graduate School, Hitotsubashi University Discussant Suzuki, Kazushi Meiji University
Inflation in China from 1991-2005: Evidence from Regional Data	Presenter Nagayasu, Jun Tsukuba University Discussant Sui, Qing-yuan Yokohama City University
Central Bank Operating Procedures in Thailand and Philippine	Presenter Inoguchi, Masahiro Kyoto Sangyo University Discussant Kubo, Akihiro Osaka City University

Rm. E (K209) Monetary Theory
Chair Iwata, Kenji Kyushu University

Cointegration Analysis of M2+CD Considering the Substitution among Components	Presenter Discussant Sawada, Yoshitaka Kwansei Gakuin University Miyao, Ryuzo Kobe University
Recent Criticism to Islamic Finance and Concept of Interest	Presenter Kitamura, Tashiharu Waseda University Discussant Takuwa, Koshi Nihon University
Policy Interest Rates under the Managed Currency System	Presenter Maehata, Yukihiko Obirin University Discussant Yoshida, Satoru Musashi University

11:50 to 12:35 Keynote Speaker: Presidential Address
Rm. G (L102) Challenge on Reginal Finance

Speaker Tsutsui, Yoshiro President of the Japan Society of Monetary Economics

12:35 to 13:35 Lunch

13:35 to 15:50 Contributed Session 2
Rm. A (K103) Theoretic / Positive Analyses on Monetary Policy / Exchange Rate
Chair Komatsu, Masaaki Hiroshima University

Global Shocks and the Japanese Economy: Structural Changes in the 1990s	Presenter Shinkai, Jun-ichi Graduate School, Osaka University Discussant Iwatsubo, Kentaro Kobe University
The International Monetary Policy Transmission under Monopolistic Competition ～A Three-Country Model Approach with Asymmetric Firms～	Presenter Kaminoyama, Kenichi Graduate School, Doshisha University Discussant Dohwa, Koujiro Kyoto Gakuen University
Volume or Order Flow? : Which Contains More Information in Really Traded Yen/Dollar Foreign Exchange Market?	Presenter Susai, Masayuki Nagasaki University Discussant Minaki, Takeo Hokusei Gakuen University

Rm. B (K109) Financial Institutions
Chair Higano, Mikinari Rikkyo University

Foreign Entry and Efficiency of Banking: Evidence from China	Presenter Matsuda, Takuma Kanto Gakuin University Yuan, Yuan University of Tokyo Discussant Harimaya, Kouzou Sapporo Gakuin University
Banking Panics, Bank Failures, and the Lender of Last Resort: The Showa Depression of 1930・932	Presenter Akiyoshi, Fumio Osaka University of Economics Discussant Yokoyama, Kazuteru Nagoya City University
Sient Bank Runs: Discipline or Contagion?	Presenter Shimizu, Katsutoshi Nagoya University Discussant Konishi, Hiroshi Hitotsubashi University

Rm. C (K110) Finance I
Chair Hiruma, Fumihiko Waseda University

The Effect of Diversification Investment between Real Estate Investment Trust and Stock	Presenter Tee Kian Heng Prefectural University of Iwate Discussant Susai, Masayuki Nagasaki University
On the Measurement of Interest Rate Risk	Presenter Takahashi, Toyoharu Chuo University Discussant Kitaoka, Takayoshi Meiji University
Difference of Risk Asset Ratio in the Households of Japan and the U.S. From the Perspective of Asset Distribution Gap	Presenter Takenaka, Masaharu Institute for International Monetary Affairs Discussant Iwatsubo, Kentaro Kobe University

Rm. D (K203) Monetary Policy I
Chair Harui, Hisashi Kwansei Gakuin University

The Effect of the Quantitative Monetary Easing Policy and Yield Spread	Presenter Hanabusa, Kunihiro Graduate School, Kobe Universtiy Discussant Ito, Takayasu Niigata University
Issues Regarding the BOJ痴 Inflation Comfort Zone Policy	Presenter Shirakawa, Hiromichi Credit Suisse Securities Japan Discussant Abiko, Yuichi Kinki University
The Effectiveness of Monetary Easing Policy on Bank Lending in Japan during 1999- 2005	Presenter Guizani, Brahim Graduate School, Tohoku University Discussant Yoshino, Naoyuki Keio University

Rm. E (K209) Regional Financial Institutions: Business Environment and Challenge
Chair Kurihara, Yutaka Aichi University

LTV Model in Retail of JA Bank － Substantial Approach Based on Relationship Marketing －	Presenter Murakami, Shinri Graduate School, Horoshima University Discussant Toi, Kanako Yasuda Women痴 University
Enlargement of Business Area by Regional Banks	Presenter Shinada, Yushi Shinkin Central Bank Research Institute Discussant Kazusaka, Takashi Kanagawa University
A Comparative Study on Regional Finance and Industrial Cluster in Japan and Korea	Presenter Yamori, Nobuyoshi Nagoya University Hirakawa, Hitoshi Nagoya University Choi, Yong-Ho Kyungpook National University Jin, Byung-yong Daegu Bank Bu, Gi-duck Daegu Bank Park, Man Bong Nagoya University Discussant Ito, Kazuhisa Prefectural University of Hiroshima

Rm. F (K210) Macro Analyses on Monetary Economy
Chair Miyao, Ryuzo Kobe University

Deposit Composition and Liquidity Demand of Commercial Banks: An Analysis Using Japanese Panel Data	Presenter Uchino, Taisuke Graduate School, Hitotsubashi University Discussant Ogawa, Kazuo Osaka University
Macroeconomy, Collateral Values, and Bank Moral Hazard	Presenter　 Ishida, Hirotaka　Tohoku Gakuin University Discussant Nakagawa, Ryuichi　Kansai University
Why did the Japanese Money Multiplier Continue to Decline?	Presenter Osada, Takeshi Graduate School, Hitotsubashi University Discussant Honda, Yuzo Osaka University

16:00 to 17:00 Invited Speaker
Rm. G (L102) On International Capital Market

Speaker Tamaki, Rintaro Director-General of the International Bureau, Ministry of Finance Japan

17:10 to 18:10 General Meeting
Rm. G (L102)

18:15 Welcome Reception
Univ. Co-op Restaurant

Monday October 13, 2008

10:00 to 12:15 Panel Session 2: On International Finance
Rm. G (L102) Dollar and Euro: the Future of Key Currency

Chair Fujita, Seiichi Kobe University
Presenter Iwata, Kenji Kyushu University
Presenter Fukunaga, Kazuki Institute for International Monetary Affairs
Presenter Hatase, Mariko Bank of Japan

10:00 to 12:15 Contributed Session 3
Rm. A (K103) Globalization and International Finance
Chair Ishida, Miki Hiroshima University

The Dollar Structure under Floating Rates	Presenter Maeda, Naoya Ryukoku University Discussant Kamikawa, Takao Yokohama National University
Sustainability of the U.S. Current Account Deficit	Presenter Oda, Harutoshi Fukuyama University Discussant Fukumoto, Yukio Osaka University of Economics
Fundamental Changes in the Global Economies and Markets： Beyond 船ecoupling・	Presenter Ohta, Hideaki Ehime University Discussant Kawanami, Yoichi Kyushu University

Rm. B (K109) Business of Financial Institutions
Chair Saito, Yoshihiko Chiba University of Commerce

The Changing Business of U.S. Money Center Banks: Loan Sales and Derivatives	Presenter Kakeshita, Tatsuro Matsuyama University Discussant Nakano, Mizuhiko Momoyama Gakuin University
Organizational Structure and Risk Taking: Evidence from the Life Insurance Industry in Japan	Presenter Asai, Yoshihiro Josai University Yanase, Noriyoshi Tokyo Keizai University Lai, Gene C. Washington State University Discussant Koto, Yasuo Senshu University
The Effects of Collateral on Small Firm Performance in Japan	Presenter Uesugi, Iichiro Hitotsubashi University Ono, Arito Mizuho Research Institute Sakai, Kouji Graduate School, Hitotsubashi University Discussant Hanazaki, Masaharu Development Bank of Japan

Rm. C (K110) Finance II
Chair Takahashi, Toyoharu Chuo University

Changing Firm Characteristics and Payout Policy	Presenter Suzuki, Yoshihisa Hiroshima University Tokutsu, Yasuyoshi Hiroshima University of Economics Discussant Tanigawa, Yasuhiko Waseda University
Liquidity, Volume and Informational Efficiency: Evidence from High-Frequency FX Data	Presenter Iwatsubo, Kentaro Kobe University Kitamura, Yoshihiro Toyama University Discussant Susai, Masayuki Nagasaki University
Panel Data Analysis on Japan痴 Regional Land Prices in 1980-2004	Presenter Kitaoka, Takayoshi Meiji University Morinaga, Shin-ichi Graduate School, Meiji University Discussant Hirono, Keiko Nihon University

Rm. D (K203) Monetary Policy II
Chair Tanaka, Atsushi Kwansei Gakuin University

Interest Rate Persistence with Cost Channel: Price Puzzle Reconsidered	Presenter Ida, Daisuke　Graduate School, Kobe University Discussant Fukushige, Mototsugu　Osaka University
Bank Merger ,Reorganization and Monetary Policy	Presenter Yamamoto, Yasuhiro　Hirosaki University Discussant Kitano, Shigehito　Kobe University
Wage Inflation and Labor Market Pressure	Presenter Senda, Takashi　Hiroshima University　 Discussant Kitasaka, Shin-ichi　Doshisha University

Rm. E (K209) Money and Banking in Other Countries
Chair Kataoka, Tadashi Osaka City University

An Analysis of Chinese Dual Economy	Presenter Okuda, Mai　Graduate School, Hiroshima University Ishida, Miki　Hiroshima University Ochi, Yasuki　Hiroshima University　 Discussant Fujikawa, Kiyoshi　Nagoya University
The Aspect of Credit Union Management in America ― The Financial Activities Aimed Member Interests	Presenter Morinaka, Yuki　Graduate School, Osaka City University Discussant Saito, Tadashi　Komazawa University
The Process of Adaptation of the Euro by Slovakia	Presenter Matsuzawa, Yuusuke　Seibu Bunri University Discussant Yamashita, Eiji　Osaka City University

Rm. F (K210) Special Session on East Asian Currencies
Chair Ogawa, Eiji Hitotsubashi University

On Asian Monetary Union	Presenter TRAN THI VAN ANH　Hiroshima University Discussant Kawasaki, Kentaro　Toyo University
Dynamic Effect of Changes in Exchange Rate System	Presenter Yoshino, Naoyuki　Keio University Kaji, Sahoko　Keio University Asonuma, Tamon　Boston University Discussant Fukuda, Shin-ichi　University of Tokyo
Monetary Integration in East Asia: Why Does It Take So Long?	Presenter Krawczyk, Mariusz K.　Ryukoku University　 Discussant Ogawa, Eiji　Hitotsubashi University

12:15 to 13:15 Lunch

13:15 to 15:15 Symposium
Rm. G (L102)

The Transformation of International Financial Market and Asian Economy
Moderator　Komatsu, Masaaki　Hiroshima University　
Panelist　Okuda, Hidenobu　Hitotsubashi Universtiy
Panelist　Nishizawa, Toshiro　Japan Bank for International Cooperation
Panelist　Kunimune, Kouzo　Institute of Developing Economies
Panelist　Mieno, Fumiharu　Kobe University

Fall 2008 Meeting Program Committee

Iwata, Kenji
Ogawa, Eiji
Kamoike, Osamu
Komatu, Masaaki
Senda, Takashi
Harui, Hisashi
Hiruma, Fumihiko
Fujita, Seiichi
Miyao, Ryuzo
Yamori, Nobuyoshi
Ishida, Miki
Kataoka, Tadashi
Kitaoka, Takayoshi
Saito, Yoshihiko
Takahashi, Toyoharu
Higano, Mikinari
Fukuda, Shin-ichi
Fujiwara, Kenya
Yano, Junji
Yoshino, Naoyuki