2010 Autumn Annual Meeting Program

September 25th, Saturday

RegistrationFront Entrance of the Main Hall, 9:30~

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 1931Presenter Nagoya University Yuichi Kanai
(2)The sterling crisis of 1931: an analysis of spot and forward rates in the London foreign exchange marketPresenter PhD Student, Hitotsubashi University Hidenao Takahashi
(3)Propagation to Japan: From the Viewpoint of An Small Open EconomyPresenter 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 policiesPresenter Doshisha University Kunihiro Hanabusa
Discussant Sophia University Yosuke Takeda
(2)Analysis of Monetary Policy using Tomorrow Next DataPresenter Ritsumeikan University Kohei Aono
Discussant Kansai University Yuzo Honda
(3)Policy Duration Effects and Economic Growth: The Case of JapanPresenter 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 BankPresenter 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 DevelopmentPresenter Kinki University Hidefumi Yamagami
Discussant Keio University Naoyuki Yoshino
(2)Debt Sustainability Analysis for Indonesia through Balance Sheet ApproachPresenter 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 PolicyPresenter 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 JapanPresenter Osaka University Jun-ichi Shinkai
Discussant Doshisha University Shingo Iokibe
(2)International Transmission of Business Cycles: Evidence from Dynamic CorrelationsPresenter 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 integrationPresenter 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 marketPresenter 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 TransmissionPresenter Niigata University Takayasu Ito
Discussant Aichi University Yutaka Kurihara
(3)The two financial crisis and Japanese firms bankruptciesPresenter 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 systemsPresenter 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 ApproachPresenter 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

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 PricesPresenter London School of Economics and Bank of Japan Kosuke Aoki
(2)Credit RisksPresenter Bank of Japan Naohisa Hirakata
(3)Fiscal Policy and Monetary PolicyPresenter 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 CityPresenter Osaka Sangyo University Shohei Ishibashi
Kyoto University Wang Ling
Discussant Ritsumeikan University Yoshiaki Ogura
(2)Regional financial soundness and firms’ technological strategiesPresenter 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 PricePresenter 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 modelPresenter 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 StudyPresenter Aoyama-Gakuin University Michiyoshi Hirota
Discussant Osaka Sangyo University Kazuhito Ogawa
(2)On Effect of Pension System; A Comparative Dynamic AnalysisPresenter 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 BreaksPresenter 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 ReversalsPresenter Doshisha University Shingo Iokibe
Discussant Nagasaki University Ken Kudo
(2)Empirical analysis on foreign capital inflows toward commodity exporting countriesPresenter Musashi University Sanae Ohno
Musashi University Ken Togo
Discussant Hitotsubashi University Hidenobu Okuda
(3)Exchange Rate Regimes After the Asian Currency CrisisPresenter 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 JapanPresenter 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 JapanPresenter 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 gainsPresenter 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 CyclePresenter Doshisha University Norio Nakai
Discussant Waseda University Shiro Yabushita
(2)Central Banking and Deflationary Depression:A Japanese PerspectivePresenter Chuo University Toichiro Asada
Discussant Otemon University Naoki Matsumoto

Presidential Address Idemitsu Sazo Memorial Rokkodai Auditorium

On Fundamental Issues of Money and Bank Credits in the Macroeconomic Framework
Speaker Doshisha University Hideo Fujiwara

General Meeting              Idemitsu Sazo Memorial Rokkodai Auditorium

Reception          Cafeteria, Academia Hall 1st floor

September 26th, Sunday

RegistrationFront Entrance of the Main Hall,9:00~

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 limitationsPresenter Hitotsubashi University Etsuro Shioji
(2)Business cycles and banking sector in Asian countries: role for a financial capital flowPresenter Nishogakusha University Katsushi Tabata
(3)On Monetary Policy Coordination: A perspective from New Open Economy MacroeconomicsPresenter 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 TargetingPresenter 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 EstimationPresenter 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: 1950-2030Presenter Osaka-Keizai University Yukio Fukumoto
Discussant Osaka University Mototsugu Fukushige
(2)Operational Efficiency of the Islamic Banks in BahrainPresenter Institute of Developing Economies Jun Saito
Discussant Toyo University Rika Nakagawa
(3)Investment Behavior of Listed Companies in VietnamPresenter 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 matrixPresenter Kushiro Public University Yasufumi Ozaki
Discussant Okayama Shoka University Masafumi Kozuka
(2)Option Valuation under Bull and Bear Market ConditionsPresenter 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 casePresenter 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 BankPresenter Ph.D. Student, Shiga University Zhang Lulu
Discussant Meijo University Kiyoshi Oba
(2)U.S. Major Financial Institutions’ Profitability before and after the Subprime CrisisPresenter Matsuyama University Tatsuro Kakeshita
Discussant Japan Securities Research Institute Chiaki Wakazono
(3)The German Banking-system in Global Financial Market CrisisPresenter 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

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

Closing Remarks        Kobe University  Seichi Fujita

Program committee

Yuichi Abiko(Kinki University)
Katsuya Ue(Kansai University)
Eiji Ogawa(Hitotsubashi University )
Takayoshi Kitaoka(Meiji University)
Yutaka Kurihara(Aichi University)
Takashi Senda(Hiroshima University)
Yosuke Takeda(Sophia University)
Toshiki Jinushi(Kobe University)
Hiroshi Fujii(Kagawa University)
Fumiharu Mieno(Kobe University)
Kazuhiro Yago(Tokyo Metropolitan University)Kenji Iwata(Kyushu University)
Hirofumi Ueda(Doshisha University)
Takashi Kaneko(Keio University)
Takafumi Kiyota(Osaka City University )
Yoshinori Kon (Aomori Public College)
Sadami Takaya(Kansai University)
Atsushi Tanaka(Kwansei Gakuin University)
Takashi Hyodo (Yamaguchi University)
Kenya Fujiwara(Kobe University)
Takashi Misumi(Hitotsubashi University )

Preparatory Committee

Seiichi FujitaKenya FujiwraTakuji KinkyoToshiki JinushiFumiharu MienoShugo YamamotoShingo Umino
Access to the Rokkodai-Campus, Kobe University
Access map to the Rokkodai-Campus, Kobe University

Access map 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.