2008 Autumn Semi-Annual Meeting

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 IssuePresenter Zhang, Gao Graduate School, Saga University
Discussant Kei, Sou Senshu University
The Adjustment Role of Labor Mobility for Asymmetric Shocks; Reconsideration of Mundell’s OCAPresenter 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 CompaniesPresenter
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
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 StrategyPresenter
Kouno, Kenji Graduate School, Kyoto University
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
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
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 BankPresenter
Kodani, Norito Graduate School, Kobe University
Sakuragawa, Masaya Keio University
The Direction of Japanese Financial Regulation ReformPresenter
Toi, Kanako Yasuda Women痴 University
Yonezawa, Yasuhiro Waseda University
The Analysis of Impact of Trading Unit ReductionPresenter
Okuyama, Eiji Chuo University
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 ThailandPresenter
Take, Yasushi Graduate School, Hitotsubashi University
Suzuki, Kazushi Meiji University
Inflation in China from 1991-2005: Evidence from Regional DataPresenter
Nagayasu, Jun Tsukuba University
Sui, Qing-yuan Yokohama City University
Central Bank Operating Procedures in Thailand and PhilippinePresenter
Inoguchi, Masahiro Kyoto Sangyo University
Kubo, Akihiro Osaka City University

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

Cointegration Analysis of M2+CD Considering the Substitution among ComponentsPresenter
Sawada, Yoshitaka Kwansei Gakuin University
Miyao, Ryuzo Kobe University
Recent Criticism to Islamic Finance and Concept of InterestPresenter
Kitamura, Tashiharu Waseda University
Takuwa, Koshi Nihon University
Policy Interest Rates under the Managed Currency SystemPresenter
Maehata, Yukihiko Obirin University
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 1990sPresenter
Shinkai, Jun-ichi Graduate School, Osaka University
Iwatsubo, Kentaro Kobe University
The International Monetary Policy Transmission under Monopolistic Competition
~A Three-Country Model Approach with Asymmetric Firms~
Kaminoyama, Kenichi Graduate School, Doshisha University
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
Minaki, Takeo Hokusei Gakuen University

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

Foreign Entry and Efficiency of Banking: Evidence from ChinaPresenter
Matsuda, Takuma Kanto Gakuin University
Yuan, Yuan University of Tokyo
Harimaya, Kouzou Sapporo Gakuin University
Banking Panics, Bank Failures, and the Lender of Last Resort: The Showa Depression of 1930・932Presenter
Akiyoshi, Fumio Osaka University of Economics
Yokoyama, Kazuteru Nagoya City University
Sient Bank Runs: Discipline or Contagion?Presenter
Shimizu, Katsutoshi Nagoya University
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 StockPresenter
Tee Kian Heng Prefectural University of Iwate
Susai, Masayuki Nagasaki University
On the Measurement of Interest Rate RiskPresenter
Takahashi, Toyoharu Chuo University
Kitaoka, Takayoshi Meiji University
Difference of Risk Asset Ratio in the Households of Japan and the U.S. From the Perspective of Asset Distribution GapPresenter
Takenaka, Masaharu Institute for International Monetary Affairs
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 SpreadPresenter
Hanabusa, Kunihiro Graduate School, Kobe Universtiy
Ito, Takayasu Niigata University
Issues Regarding the BOJ痴 Inflation Comfort Zone PolicyPresenter
Shirakawa, Hiromichi Credit Suisse Securities Japan
Abiko, Yuichi Kinki University
The Effectiveness of Monetary Easing Policy on Bank Lending in Japan during 1999- 2005Presenter
Guizani, Brahim Graduate School, Tohoku University
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
Toi, Kanako Yasuda Women痴 University
Enlargement of Business Area by Regional BanksPresenter
Shinada, Yushi Shinkin Central Bank Research Institute
Kazusaka, Takashi Kanagawa University
A Comparative Study on Regional Finance and Industrial Cluster in Japan and KoreaPresenter
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
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 DataPresenter
Uchino, Taisuke Graduate School, Hitotsubashi University
Ogawa, Kazuo Osaka University
Macroeconomy, Collateral Values, and Bank Moral HazardPresenter 
Ishida, Hirotaka Tohoku Gakuin University
Nakagawa, Ryuichi Kansai University
Why did the Japanese Money Multiplier Continue to Decline?Presenter
Osada, Takeshi Graduate School, Hitotsubashi University
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 RatesPresenter
Maeda, Naoya Ryukoku University
Kamikawa, Takao Yokohama National University
Sustainability of the U.S. Current Account DeficitPresenter
Oda, Harutoshi Fukuyama University
Fukumoto, Yukio Osaka University of Economics
Fundamental Changes in the Global Economies and Markets: Beyond 船ecoupling・Presenter
Ohta, Hideaki Ehime University
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 DerivativesPresenter
Kakeshita, Tatsuro Matsuyama University
Nakano, Mizuhiko Momoyama Gakuin University
Organizational Structure and Risk Taking: Evidence from the Life Insurance Industry in JapanPresenter
Asai, Yoshihiro Josai University
Yanase, Noriyoshi Tokyo Keizai University
Lai, Gene C. Washington State University
Koto, Yasuo Senshu University
The Effects of Collateral on Small Firm Performance in JapanPresenter
Uesugi, Iichiro Hitotsubashi University
Ono, Arito Mizuho Research Institute
Sakai, Kouji Graduate School, Hitotsubashi University
Hanazaki, Masaharu Development Bank of Japan

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

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

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

Interest Rate Persistence with Cost Channel: Price Puzzle ReconsideredPresenter
Ida, Daisuke Graduate School, Kobe University
Fukushige, Mototsugu Osaka University
Bank Merger ,Reorganization and Monetary PolicyPresenter
Yamamoto, Yasuhiro Hirosaki University
Kitano, Shigehito Kobe University
Wage Inflation and Labor Market PressurePresenter
Senda, Takashi Hiroshima University 
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 EconomyPresenter
Okuda, Mai Graduate School, Hiroshima University
Ishida, Miki Hiroshima University
Ochi, Yasuki Hiroshima University 
Fujikawa, Kiyoshi Nagoya University
The Aspect of Credit Union Management in America ― The Financial Activities Aimed Member InterestsPresenter
Morinaka, Yuki Graduate School, Osaka City University
Saito, Tadashi Komazawa University
The Process of Adaptation of the Euro by SlovakiaPresenter
Matsuzawa, Yuusuke Seibu Bunri University
Yamashita, Eiji Osaka City University

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

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