2012 Spring Annual Meeting Program

May 19th, Saturday

<9:30~ > Registration:FrontEntrance of the 3rd Building

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 DisasterPresenter Tohoku Fukushi University Osamu Kamoike
(2)Tohoku Economy after the DisasterPresenter Bank of Japan Kazuo Fukuda
(3)Credit Supply Issues for Reconstruction after the Earthquake DisasterPresenter Hosei University Hideaki Hirata
Discussant Hitotsubashi University Iichiro Uesugi
Discussant Kobe University Toshiki Jinushi

B (Room 335)
Panel Session: The Causes of the Eurozone Debt Crisis
Chair Gakushuin University Junko Shimizu

(1)The Causes of the Eurozone Debt CrisisPresenter 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 UnionPresenter 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

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 VARPresenter 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 RiskPresenter 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 NigeriaPresenter 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 RatingsPresenter Ph.D. Student, Hitotsubashi University Naoko Nemoto
Discussant Keio University Naoyuki Yoshino
(3)The Relationship between CDS, Bond and StockPresenter 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 PolicyPresenter 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 ApproachPresenter 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 JapanPresenter 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 LoansPresenter Ph.D. Student, Saitama University Hiroshi Nakazawa
Discussant Nihon University Hidetoshi Mitsui
(2)Problems and Prospects Regarding Deposit Insurance SystemsPresenter Yokohama National University Masahiko Takahashi
Discussant Dokkyo University Yoshihiko Saito
(3)The Incentive Problem in Public Offerings for BaselⅢPresenter 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 FuturePresenter 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 FlowPresenter 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 PrefecturePresenter Otaru University of Commerce Toshiaki Kanzaki
Discussant Yamagata University Masaki Yamaguchi

<12:15~13:30>  Lunch

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

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 KeynesianismPresenter Waseda University Ikeo Aiko
(2)Liberalism of Tanzan IshibashiPresenter Nihon University Juro Teranishi
(3)Tanzan Ishibashi and Realism: From the Viewpoint of Rissho UniversityPresenter Rissho University Makoto Hayakawa

C (Room 334)
Session: Corporate Finance
Chair Keio University Takashi Kaneko

(1)The Protection of Workers’ Claims and Liquidity ShortagePresenter University of Tokyo Mariko Tanaka
Discussant Senshu University Hidehiko Ishihara
(2)Analysis of Leverage Dynamics: Comparing Public and Private FirmsPresenter 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 InformationPresenter 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 CrisisPresenter Kyushu Sangyo University Yushi Yoshida
Nagasaki University Masayuki Susai
Discussant Waseda University Yoshihiro Kitamura
(2)Order Flows, Fundamentals and Exchange ratesPresenter 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 DataPresenter 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) TablesPresenter 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

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

B (Room 335)
Session: Financial Institutions
Chair Waseda University Fumihiko Hiruma

(1)Relationship Banking in Labor BankPresenter Okayama University Satoshi Mimura
Discussant Yokohama City University Tsuguo Fujino
(2)Did Bank Consolidations Make Improvement of Efficiency? An Evidence from Regional BanksPresenter Ph.D. Student, Hitotsubashi University Lang Ling
Discussant Ritsumeikan University Kozo Harimaya
(3)Competitiveness of Japanese Megabanks in ChinatPresenter 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 EstimatorsPresenter 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 UnionPresenter 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 BubblePresenter 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 RepublicPresenter 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 EraPresenter 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 DataPresenter 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 ApproachPresenter Development Bank of Japan Daisuke Miyazawa
Nihon University Shuji Watanabe
Discussant Hitotsubashi University Tatsuyoshi Okimoto
(3)The Seasonal Effect in the Foreign Exchange RatePresenter Ph.D. Student, Rissho University Tetuya Utashiro
Discussant Tokyo Keizai University Masao Kumamoto

<12:15~13:30>  Lunch

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 ShockPresenter 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 ActPresenter University of Tokyo Shinsaku Iwahara
(3)A Macroeconomic Remark on Stringent Capital RequirementsPresenter Hitotsubashi University Makoto Saito
(4)Tide of Regulations and Bank BehaviorPresenter 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