Saturday, November 7, 2009

Reception Desk: 8:50 to 18:00

09:30 to 11:45 Panel Session 1: Financial History
Rm.C(Rm.31) International Monetary and Financial System in the 1960s: a historical approach
Chair Yago, Kazuhiko Tokyo Metropolitan University

The G10 and Reform of the Global Reserves System in the 1960s	Presenter Catherine Schenk University of Glasgow
A British Overseas Bank and the Early Stage of the Euro-dollar Market	Presenter Sugawara, Ayumu Tohoku University
The Ascendency of Asia. Japan and China in the International Financial System	Presenter Piet Clement Bank for International Settlements

09:30 to 11:45 Contributed Session 1
Rm.A(Rm.11) Financial Institutions I 　
Chair Shin-ichi, Fukuda University of Tokyo

Did the Big Bang Make the Japanese Insurance Market Competitive and Efficient ?	Presenter Chano, Tsutomu Musashi University Discussant Yamori, Nobuyoshi Nagoya University
Russell Measure of Technical Efficiency in Japanese Banking	Presenter Kunikata, Akira Aomori Public College Discussant Harimaya, Kozo Sapporo Gakuin University
Competition in Japanese Banking System Revisited	Presenter Gunji, Hiroshi Daito Bunka University Miura, Kazuki Graduate School, Hosei University Discussant Uchida, Hirofumi Kobe University

Rm.B(Rm.21) Monetary Aggregates and Asset Prices in Monetary Policy
Chair Takeda, Yosuke Sophia University

Forward-Looking Monetary Policy: An Effective Means to Prevent Bubbles and the Aftermath	Presenter Funashima, Yoshito Graduate School, Aoyama Gakuin University Shoichi Miyahara Aoyama Gakuin University Discussant Nakashima, Kiyotaka Konan University
Regional (very Narrow) Money-Output Relationship: Panel Cointegration and Structural Breaks	Presenter Nagayasu, Jun University of Tsukuba Discussant Miyao, Ryuzo Kobe University
Individual Stock Returns and Monetary Policy: Evidence from Japanese Data	Presenter Shibamoto, Masahiko Kobe University Discussant Ogawa, Kazuo Osaka University

Rm.D(Rm.22) Empirical Analysis of Monetary Economy 　
Chair Kitaoka, Takayoshi Meiji University

Testing Fiscal Sustainability in Japan	Presenter Fujii, Takao Kobe University Discussant Hosono, Kaoru Gakusyuin University
The Impact of Electronic Money on Small Payments: An Empirical Analysis of Macro and Micro Data	Presenter Nakata, Masao Kyushu University Discussant Kitamura, Yukinobu Hitotsubashi University
Service Expenditures and Intertemporal Elasticity of Substitution in Japan	Presenter Kozuka, Masafumi Okayama Shoka University Discussant Nakagawa, Shinobu Bank of Japan

Rm.E(Rm.32) International Monetary Economics Ⅰ 　
Chair Takaya, Sadayoshi Kansai University

Pricing to Market and Currency Basket	Presenter Nakamura, Chikafumi Graduate School, Hitotsubashi University Discussant Tsuruga, Takayuki Kansai University
Analysis on β and σ convergences of East Asian currencies	Presenter Yoshimi, Taiyo Graduate School, Hitotsubashi University Discussant Kitamura, Yoshihiro University of Toyama
Finance Crisis in Central and Eastern Europe and Policy Responses	Presenter Matsuzawa, Yuusuke Bunri University of Hospitality Discussant Krawczyk Mariusz Konrad Ryukoku University

Rm.F(Rm.23) Financial Markets in Asia 　
Chair Yano, Junji Hiroshima University

A Study of Public Debt Management System in Emerging Economies	Presenter Nakagawa, Rika Toyo University Discussant Komatsu, Masaaki Hiroshima University
Determinants of Fund Raising Structure of Listed Companies in Vietnam	Presenter Okuda, Hidenobu Hitotsubashi University Lai Thi Phuong Nhung Graduate School, Hitotsubashi University Discussant Suto, Megumi Waseda University
Indonesia: the Contagion of the Sub-prime Financial Crisis and the Policy Responses	Presenter Masuda, Atsushi Japan Bank for International Cooperation Ohshige, Hitoshi Japan Bank for International Cooperation Discussant Yoshino, Naoyuki Keio University

11:50 to 12:35 Keynote Speaker: Presidential Address 　
Rm.C(Rm.31) Bubble and Financial Crisis: A Behavioral Economic Approach
Speaker Tsutsui, Yoshiro President of the Japan Society of Monetary Economics

12:35 to 13:35 Lunch 　 　
University Hall 　

13:35 to 15:50 Panel Session 2: Monetary Policy 　
Rm.C(Rm.31) Recent Trends of Monetary Policy Analysis and the Financial Crisis
Chair Miyao, Ryuzo Kobe University

Usefulness and Limits of New Keynesian Model: A View of Policy-making（tentative）	Presenter Kimura, Takeshi Bank of Japan
A Homework for Macroeconomics from the Global Financial Crisis	Presenter Kobayashi, Keiichiro Research Institute of Economy, Trade and Industry
The New Third Way? 　Retrospect and Prospect for Monetary Economics	Presenter Takeda, Yosuke Sophia University

13:35 to 15:50 Contributed Session 2 　
Rm.A(Rm.11) Financial Institutions Ⅱ
Chair Nakajima, Masashi Reitaku University

Two Standards of Capital Regulation in Japan’s regional banks	Presenter Yajima, Itaru Norinchukin Research Institute and Graduate School,　Chuo University Discussant Nagata, Kunikazu Kagoshima University
How Does the Stability of Loan Relations Depend on its Duration?: Evidence from Firm- and Bank-Level Data	Presenter Miyakawa, Daisuke Development Bank of Japan Inc. Discussant Harimaya, Kozo Sapporo Gakuin University

Rm.B(Rm.21) Finance 　 　
Chair Takahashi, Toyoharu Chuo University

Managerial Decisions on Payout Policy: the Choice between Share Repurchases and Cash Dividends	Presenter Omori, Kozo Chuo Mitsui Asset Trust and Banking Company, Ltd. Tsuchimura, Yoshiaki Kanagawa University Kurasawa, Motonari Yokohama National University Discussant Kaneko, Takashi Keio University
Debt Structure and Capital Structure Based on the Renegotiation of Bank Debt	Presenter Tomita, Shintaro Graduate School, Keio University Ikeda, Naoshi Graduate School, Keio University Tsuji, Yukitami Keio University Discussant Teshima, Nobuyuki Senshu University

Rm.D(Rm.22) Theoretical Analysis of Monetary Economy 　
Chair Ue, Katsuya Kansai University

(1) Strategic Complementarity and Bank’s Lending Behavior-model describing endogenously how indirect finance carry  out the role by their own behavior –	Presenter Hobara, Nobuhiro Hitotsubashi University Discussant Fujiwara, Kenya Kobe University
Assets Price Change by Bank Capital Regulation and Optimal Risk Weights	Presenter Yamashiro, Ken Graduate School, Hitotsubashi University Discussant Yasuda, Yukihiro Tokyo Keizai University
Note on Modeling of Suicide under a Borrowing Constraint within a Framework of Real Options Models	Presenter Suzuki, Tomoya Kansai University Discussant Hori, Keiichi Ritsumeikan University

Rm.E(Rm.32) International Monetary Economics Ⅱ 　
Chair Ogawa, Eiji Hitotsubashi University

The Structural Change of Trade Balance in Japan	Presenter Yamamoto, Shugo Graduate School, Kobe University Discussant Kawasaki, Kentaro Toyo University
Hamburger Prices and Globalization	Presenter Fukumoto, Yukio Osaka University of Economics Discussant Nakata, Hayato Meisei University

Rm.F(Rm.23) Current Issues in International Finance 　
Chair Iwata, Kenji Kyushu University

The Money Flow and its Economic Influence of New Money Center “Middle East”	Presenter Shukuwa, Junichi Bank of Tokyo-Mitsubishi UFJ Discussant Nemoto, Tadanobu Chuo University
Islamic Unit Trust and Shari’ah Compliant Securities in Malaysia	Presenter Fukushima, Yasuhiro Tokyo University of Foreign Studies Discussant Nakagawa, Rika Toyo University
Current ‘Reforms’ of IMF Programs and Issues to be solved	Presenter Ohta, Hideaki Ehime University Discussant Iwamoto, Takekazu Kyoto University

16:00 to 17:00 Invited Speaker 　
Rm.C(Rm.31) On the Securities Market after the Global Financial Crisis　(tentative)

9:30 to 11:45 Panel Session 3: International Finance 　
Rm.C(Rm.31)　Global Imbalance and International Financial Crisis
Chair Fujita, Seiichi Kobe University

Global Imbalance Revisited	Presenter Tanaka, Soko Chuo University
Yen Carry Trades, Global Imbalance and International Financial Crisis	Presenter Iwatsubo, Kentaro Kobe University
Global Economic Crisis and Cross-Border Capital Movements: Implication to Global Economic Order	Presenter　Shirai, Sayuri　Keio University Discussant　Takenaka, Masaharu　Ryukoku University Discussant　Shimizu, Satoshi　Japan Research Institute

17:10 to 17:50 General Meeting 　
Rm.C(Rm.31)

18:10 to 20:10 Welcome Reception 　
University Hall

Sunday, November 8, 2009

Reception Desk: 9:00 to 15:30

9:30 to 11:45 Panel Session 3: International Finance 　
Rm.C(Rm.31)　Global Imbalance and International Financial Crisis
Chair Fujita, Seiichi Kobe University 　

Global Imbalance Revisited	Presenter Tanaka, Soko Chuo University
Yen Carry Trades, Global Imbalance and International Financial Crisis	Presenter Iwatsubo, Kentaro Kobe University
Global Economic Crisis and Cross-Border Capital Movements: Implication to Global Economic Order	Presenter Shirai, Sayuri　Keio University Discussant　Takenaka, Masaharu　Ryukoku University Discussant　Shimizu, Satoshi　Japan Research Institute

9:30 to 11:45 Contributed Session 3 　
Rm.A(Rm.11) Regional Banking in Japan 　
Chair Yamori, Nobuyoshi Nagoya University

The Corporate Governance of Regional Banks	Presenter Mori, Yuji Graduate School, Waseda University Discussant Hanazaki, Masaharu Development Bank of Japan
An Analysis of the Loan-Debt Margins of Shinkin Banks During the Recent Economic Expansion	Presenter Ishibashi, Shohei Osaka Sangyo University Discussant Aoki, Tatsuhiko Shinshu University
Study on the Promotion of Regional Finance and the Roles of Regional Bank	Presenter Takachiho, Yasunaga Tamagawa University Discussant Okuno, Hiroyuki Aichi University

Rm.B(Rm.21) Finance and Portfolio Selection 　
Chair Kamoike, Osamu Tohoku Fukushi University

Academic Background and Household Portfolios Revisited	Presenter Kitamura, Yukinobu Hitotsubashi University Uchino, Taisuke Graduate School, Hitotsubashi University Discussant Muramoto, Tsutomu Seijo University
Are Chinese Stock Investors Watching Tokyo?: An Analysis with High-Frequency Data	Presenter Hirayama, Kenjiro Kwansei Gakuin University Tsutsui, Yoshiro Osaka University Discussant Kawanishi, Satoshi Sophia University

Rm.D(Rm.22) Financial Markets in China 　
Chair Sui, Qing-yuan Yokohama City University

Chinese Direct Investment in Manufacturing: Its Patterns and Determinants-An Empirical Analysis	Presenter Miyamoto, Michiko Akita Prefectural University Ro, Kin Graduate School, Akita Prefectural University Shimazaki, Yoshiaki Akita Prefectural University Discussant Ji, Cong Senshu University
Scale Economy and Competitiveness of Chinese Insurance Industry	Presenter Yuan, Yuan University of Tokyo Matsuda, Takuma Kanto Gakuin University Discussant Koibuchi, Satoshi Chiba University of Commerce

Rm.E(Rm.32) US Financial System 　
Chair Nishigaki, Narunto Okayama University

A Market Trend of ABL in U.S.A. and the Trend of Thought in the Undercurrent: The Construction of a Deep Relationship in Attaching Great Importance to the Going Concern Value of the Borrower	Presenter Unakami, Yasuo Japan Finance Corporation Discussant Nemoto, Tadanobu Chuo University
Global Financial Crisis and US Interest Rate Swap Spreads	Presenter Ito, Takayasu Niigata University Discussant Abiko, Yuichi Kinki University
Evolution of Shadow Banking System and Hedge Funds	Presenter Sekimura, Shogo Saitama University Discussant Noshita, Yasutoshi Kokushikan University

11:45 to 12:45 Lunch 　 　
University Hall 　

12:45 to 15:15 Symposium 　 　
Rm.C(Rm.31) Financial Regulatory Reforms after the Global Financial Crisis
Chair Miyao, Ryuzo Kobe University

Causes of the Global Financial Crisis and the Need to Reform Financial Sector Regulation and Supervision	Presenter Takeda, Masahiko Hitotsubashi University
Global Financial Crisis and International Responses: Outcomes of the G20 Summit Meeting and On-going Financial Regulatory Reforms	Presenter Nakao, Takehiko Director-General, International Bureau, Ministry of Finance
Prudential Policy in Japan	Presenter　Kuroda, Akio　Meiji University Discussant　Jinushi, Toshiki　Kobe University Discussant　Ikeo, Kazuhito　Keio University