Meetings
May 19th, Saturday
<9:30～ > Registration：FrontEntrance of the 3rd Building
<10:00～12:15>
A (Room 341)
Panel Session: Economic Reconstruction after the Earthquake Disaster
Chair Tohoku University Shin-Ichi Nishiyama
| （1）Reconstruction and Issues after Great East-Japan Earthquake Disaster | Presenter Tohoku Fukushi University Osamu Kamoike |
| （2）Tohoku Economy after the Disaster | Presenter Bank of Japan Kazuo Fukuda |
| （3）Credit Supply Issues for Reconstruction after the Earthquake Disaster | Presenter Hosei University Hideaki Hirata Discussant Hitotsubashi University Iichiro Uesugi Discussant Kobe University Toshiki Jinushi |
<10:00～12:15>
B (Room 335)
Panel Session: The Causes of the Eurozone Debt Crisis
Chair Gakushuin University Junko Shimizu
| （1）The Causes of the Eurozone Debt Crisis | Presenter Keio University Sahoko Kaji |
| （2）The Euro Experiment: Intra-regional Imbalances, Cross-border Banking,Sovereign Debt Restructuring, Structural Reform, an Financial Stability in a Currency Union | Presenter Chuo University Satoshi Koibuchi |
| （3）Risks in Policy Prescriptions for the European Sovereign-debt Crisis: Muddling Through or Trapped in a Vicious Circle? | Presenter JBIC Toshiro Nishizawa Discussant Chuo University Soko Tanaka Discussant Keio University Takero Doi |
<10:00～12:15>
C (Room 334)
Session: Commodity
Chair Tama University Hiroshi Usami
| （1）Commodity Market and Excess Liquidity: An Investigation of Commodity Future Prices Using the Structural VAR | Presenter Musashi University Sanae Ohno Musashi University Tsutomu Chano Discussant Doshisha University Shinichi Kitasaka |
| （2）Simulation Analysis on the Effect of Abatement or Elimination of Price Limits in View of Default Risk | Presenter Tokyo Commodity Exchange, Inc Mitsuhiro Onosato Tokyo Commodity Exchange, Inc. Hiroshi Yamaoka Tokyo Commodity Exchange, Inc. Kosuke Araki Discussant Tama University Hiroshi Usami |
| （3）Influence of Oil Price on an African Oil Exporter: A Case of Nigeria | Presenter Ph.D. Student (JSPS Research Fellow DC2), Kobe University Kazue Demachi Discussant Musashi University Sanae Ohno |
D (Room 324)
Session: Finance
Chair Aichi University Yutaka Kurihara
| （1）Corporate Bond Liquidity Spreads and Japanese Bank’s Investments: Compared with Old-New Two Financial Crises | Presenter Aoyama Gakuin University Yoko Shirasu Discussant Tokyo Keizai University Yukihiro Yasuda |
| （2）The Impact of Cyclical Factors on Credit Ratings | Presenter Ph.D. Student, Hitotsubashi University Naoko Nemoto Discussant Keio University Naoyuki Yoshino |
| （3）The Relationship between CDS, Bond and Stock | Presenter Musashi University Tsutomu Chano Discussant Chiba University of Commerce Yasushi Yoshida |
E (Room 326)
Session: Time-Series Analysis on Monetary and Fiscal Policy
Chair Sophia University Yosuke Takeda
| （1）Taylor Rule or McCallum Rule for the Chinese Monetary Policy | Presenter Ph.D. Student, Hitotsubashi University Liu Jia Discussant Kwansei Gakuin University Atsushi Tanaka |
| （2）Effects of Public Investment on Sectoral Private Investment: A Factor Augmented VAR Approach | Presenter Kobe University Takao Fujii University of Marketing and Distribution Science Masafumi Kozuka Keio University Kazuki Hiraga Discussant Daito Bunka University Hiroshi Gunji |
| （3）Accounting for Relative Price Levels across Cities within Japan | Presenter Surugadai University Hidehiro Ikeno Discussant Aichi University Ichihiro Uchida |
F (Room 322)
Session: Means to Stabilize Financial System
Chair Kinki University Yuichi Abiko
| （1）Mark-to-Funding Approach to Applying Mark-to-Market Valuation to Bank Loans | Presenter Ph.D. Student, Saitama University Hiroshi Nakazawa Discussant Nihon University Hidetoshi Mitsui |
| （2）Problems and Prospects Regarding Deposit Insurance Systems | Presenter Yokohama National University Masahiko Takahashi Discussant Dokkyo University Yoshihiko Saito |
| （3）The Incentive Problem in Public Offerings for BaselⅢ | Presenter Ph.D. Student, Waseda University Makoto Tsurusawa Discussant Kobe University Wataru Takahashi |
G (Room 323)
Session: Financial System and Money Flow
Chair Hitotsubashi University Hidenobu Okuda
| （1）Dollarization Policy of Ecuador ：The Present Situation and Viewpoints for the Future | Presenter Embassy of Japan in Ecuador Naotoshi Kinoshita Rissho University Yasushi Hayashi Discussant Institute for International Monetary Affairs Kenichiro Matsui |
| （2）Effect of the Dematerialization of Securities; From the Aspects of the Minimizing Settlement Risk and Shifts of the Financial Flow | Presenter Japan Securities Depository Center Maki Kunai Discussant University of Tokyo Hideki Kanda |
| （3）On the Behavior of Money Flows on the Real Side and the Financial Side in Hokkaido Prefecture | Presenter Otaru University of Commerce Toshiaki Kanzaki Discussant Yamagata University Masaki Yamaguchi |
<12:15～13:30> Lunch
<13:30～15:45>
A (Room 341)
Panel Session: Macroprudence and the Central Bank：Macroprudential Perspective and Macroprudential Policy
Chair Seijo University Mahito Uchida
| （1） | Presenter Bank of Japan Atsushi Miyanoya |
| （2） | Presenter Japan Research Institute Kenji Nishiguchi |
| （3） | Presenter Hitotsubashi University Hisashi Nakamura |
<13:30～15:45>
B (Room 335)
Panel Session: The Philosophy of Tanzan Ishibashi: As a Financial Scholar and as the President of Rissho University 〔Jointly Organized by Rissho University〕
Chair Rissho University Makoto Hatano
| （1）The Americans on Tanzan Ishibashi and Keynesianism | Presenter Waseda University Ikeo Aiko |
| （2）Liberalism of Tanzan Ishibashi | Presenter Nihon University Juro Teranishi |
| （3）Tanzan Ishibashi and Realism: From the Viewpoint of Rissho University | Presenter Rissho University Makoto Hayakawa |
<13:30～15:45>
C (Room 334)
Session: Corporate Finance
Chair Keio University Takashi Kaneko
| （1）The Protection of Workers’ Claims and Liquidity Shortage | Presenter University of Tokyo Mariko Tanaka Discussant Senshu University Hidehiko Ishihara |
| （2）Analysis of Leverage Dynamics: Comparing Public and Private Firms | Presenter Ph.D. Student, Hitotsubashi University Takashi Yoshida Hitotsubashi University Masaru Konishi Discussant Keio University Yukitami Tsuji |
| （3）Determinants of Debt Structure: An Analysis Focusing on Asymmetric Information | Presenter Keio University Shintaro Tomita Discussant Tokyo University of Science Takafumi Sasaki |
D (Room 324)
Session: Empirical Analysis of Exchange Rates
Chair Kobe University Kentaro Iwatsubo
| （1）The BOJ Interventions, Order Flow, and Financial Crisis | Presenter Kyushu Sangyo University Yushi Yoshida Nagasaki University Masayuki Susai Discussant Waseda University Yoshihiro Kitamura |
| （2）Order Flows, Fundamentals and Exchange rates | Presenter Kobe University Kentaro Iwatsubo Cass Business School Ian W. Marsh Discussant Tsukuba University Jun Nagayasu |
E (Room 326)
Session: Topics on Japanese Financial Markets
Chair University of Tokyo Shin-ichi Fukuda
| （1）Nondivergent Rational Bubbles in the Japanese Stock Market? | Presenter Ph.D. Student, Kobe University Hiroyuki Watanabe Discussant Kinki University Takeshi Hoshikawa |
| （2）Exchange Rate Changes and Trade Balance: A Unifying Framework for Generalized Marshall-Lerner Condition and J-Curve Effect” | Presenter Meiji Gakuin University Mitsuaki Okabe Discussant Aichi University Yutaka Kurihara |
F (Room 322)
Session: Development and Finance
Chair Japan Research Institute Satoshi Shimizu
| （1）The Role of FDI in Local Financial Development in Post-Reform China:Evidence from Panel Data | Presenter Waseda University Masanori Ohkuma Ph.D. Student, Waseda University Ruidong Gao Aichi Gakusen University Koichiro Iwamoto Chongqing University Xin Liu Discussant Waseda University Yoshiaki Ogura |
| （2）Multiplier Effect of Remittances on Domestic Industry :Case Study of Mexico Using I/O(Input- output) Tables | Presenter Institute for International Monetary Affairs Kenichiro Matsui Discussant Hitotsubashi University Hidenobu Okuda |
<16:00～17:00> Invited Lecture
H Ishibashi Tnazan Memorial Auditorium
Chair Keio University Naoyuki Yoshino
Speaker Commissioner, Financial Services Agency Ryutaro Hatanaka
Current State of Financial Supervision
<17:10～18:10> General Meeting
H Ishibashi Tnazan Memorial Auditorium
<18:30～20:30> Reception
May 20th, Sunday
<9:30~> Registration: Front Entrance of the 3rd Building
<10:00～12:30>
H Ishibashi Tnazan Memorial Auditorium
Panel Session: Financial Cooperation in Northeast Asia after the Financial Crisis
Chair Hiroshima University Junji Yano
| （1） | Presenter East China Normal University Huang Zemin |
| （2） | Presenter Korea Institute of Finance Dong-Hwan Kim |
| （3） | Presenter Hitotsubashi Uniersity Yoshinori Shimizu Discussant Hitotsubashi University Eiji Ogawa Discussant Kobe University Takuji Kinkyo |
<10:00～12:15>
B (Room 335)
Session: Financial Institutions
Chair Waseda University Fumihiko Hiruma
| （1）Relationship Banking in Labor Bank | Presenter Okayama University Satoshi Mimura Discussant Yokohama City University Tsuguo Fujino |
| （2）Did Bank Consolidations Make Improvement of Efficiency? An Evidence from Regional Banks | Presenter Ph.D. Student, Hitotsubashi University Lang Ling Discussant Ritsumeikan University Kozo Harimaya |
| （3）Competitiveness of Japanese Megabanks in Chinat | Presenter Yamagata University Masaki Yamaguchi Discussant Takushoku University Nobuo Yamamura |
C (Room 334)
Session: International Finance
Chair Kobe University Seiichi Fujita
| （1）Are Consistent Pegs Really More Prone to Currency Crises? An Analysis Using Matching Estimators | Presenter Kobe City University of Foreign Studies Taro Esaka Discussant The Research Institute of Economy, Trade and Industry Taisuke Uchino |
| （2）Regional Inflation and Industrial Structure in Monetary Union | Presenter Tsukuba University Jun Nagayasu Discussant Osaka University of Economics Yukio Fukumoto |
| （3）Lessons from Past Crisis Experience and Its Lessons to Asia:Banking Behavior and Asset Bubble | Presenter Keio University Naoyuki Yoshino Financial Institute Tomoya Nakamura Financial Institute Yoshitaka Sakai Discussant Kobe University Wataru Takahashi |
D (Room 324)
Session: Financial History
Chair Reitaku University Masanori Sato
| （1）Establishment of the Bank of Amsterdam and Imaginary Money in the Early Dutch Republic | Presenter Ph.D. Student, Nagoya University Masahiro Hashimoto Discussant Bank of Japan Masato Shizume |
| （2）A Comparative Study of Mergers of Pioneering Regional Banks; Cases of Dai-Ichi Godo Bank and Geibi Bank in Taisho Era | Presenter Ph.D. Student, Okayama University Yoshio Takahashi Discussant University of Kitakyushu Yurio Mukai |
E (Room 326)
Session: Empirical Analyses of Finance
Chair Meiji University Takayoshi Kitaoka
| （1）Return and Volatility Spillovers between Japanese and Chinese Stock Markets: An Analysis of Overlapping Trading Hours with High-frequency Data | Presenter University of International Business and Economics Yusaku Nishimura Osaka University Yoshiro Tsutsui Kwansei Gakuin University Kenjiro Hirayama Discussant Waseda University Jun Uno |
| （2）What Determines CDS Premium? Simultaneous Equation System Approach | Presenter Development Bank of Japan Daisuke Miyazawa Nihon University Shuji Watanabe Discussant Hitotsubashi University Tatsuyoshi Okimoto |
| （3）The Seasonal Effect in the Foreign Exchange Rate | Presenter Ph.D. Student, Rissho University Tetuya Utashiro Discussant Tokyo Keizai University Masao Kumamoto |
<12:15～13:30> Lunch
<13:30～14:40>
H Ishibashi Tnazan Memorial Auditorium
Symposium: Restructuring of the Regulatory Regime after the 2007-09 Financial Crisis”
Chair Keio University Kazihito Ikeo
| （1）Global Regulatory Reform after the Lehman Shock | Presenter Bank of Japan Hiromi Yamaoka |
| （2）Recent Developments of and Arguments on Financial Regulation in the U. S. and the U. K.: Focusing on the Implementation of the Dodd-Frank Act | Presenter University of Tokyo Shinsaku Iwahara |
| （3）A Macroeconomic Remark on Stringent Capital Requirements | Presenter Hitotsubashi University Makoto Saito |
| （4）Tide of Regulations and Bank Behavior | Presenter Mizuho Securities Kenji Fujii Closing Remarks Rissho University Yasushi Hayashi |
Program committee
Takashi Misumi (Hitotsubashi University, Chair)
Seiichi Fujita (Kobe University)
Yasushi Hayashi (Rissho University)
Takayasu Ito (Niigata University)
Toshiki Jinushi (Kobe University)
Takayoshi Kitaoka (Meiji University)
Jun Maeda (The University of Kitakyushu)
Eiji Ogawa (Hitotsubasih University)
Masanori Sato (Reitaku University)
Atsushi Tanaka (Kwansei Gakuin University)
Nobuyoshi Yamori (Nagoya University)
Yuichi Abiko (Kinki University)
Shin-ichi Fukuda (University of Tokyo)
Fumihiko Hiruma (Waseda University)
Kentaro Iwatsubo (Kobe University)
Takashi Kaneko (Keio University)
Yutaka Kurihara (Aichi University)
Fumiharu Mieno (Kobe University)
Hidenobu Okuda (Hitotsubashi University)
Yosuke Takeda (Sophia University)
Mahito Uchida (Seijo University)
Naoyuki Yoshino (Keio University)
Preparatory Committee (Rissho University)
Yasushi Hayashi (Chair)
Jiro Obata
Masayuki Keida
Tetsuya Utashiro
Access to Osaki Campus, Rissho University
http://www.ris.ac.jp/en/access/index.html