2013 Autumn Annual Meeting Program

September 21th, Saturday

< 9:30 – > Registration:1st Floor of Law & Economics Shared Facilities Bldg, Higashiyama Campus

< 10:00 – 12:00 >

Conference Hall
Panel Session: Reconstruction Finance
SME Finance after the Great East Japan Earthquake
Chair Tohoku Fukushi University Osamu Kamoike

(1)Trading Partners and Firm Location Choice: Evidence from the Great East-Japan EarthquakePresenter Mizuho Research Institute Arito Ono
(2)Great East Japan Earthquake and corporate debt over-hangPresenter Tohoku University Shin-Ichi Nishiyama
(3)The Actual Operation and Status-Quo of the Reconstruction Finance in Tohoku AreaPresenter The Organization for Restructuring
Businesses After the Touhoku Earthquake Tatsuya Aranami
Discussant Japan Center for Economic Research Yuki Masujima
Discussant Kobe University Toshiki Jinushi

< 10:00 – 12:00 >

Economics Lecture Room 1
Session: International Finance 1
Chair Gakushuin University Hideaki Murase

(1)Issues of Japanese Income on Outward Foreign Direct Investment -The Key is Sound Origination in Emerging Economies-Presenter Cabinet Office Takuo Kato
Discussant Seikei University Mamoru Nagano
(2)Hot Money Flow, Money Supply, Credit and Residential Property Prices in ChinaPresenter Musashi University Sanae Ohno
Hosei University Peng Xu
Discussant Hitotsubashi University Etsuro Shioji
(3)Prudential Capital Controls: The Impact of Different Collateral Constraint AssumptionsPresenter Kyoto University Takayuki Tsuruga
Bank of Japan Mitsuru Katagiri
Bank of Japan Ryo Kato
Discussant Kobe University Shigeto Kitano

Economics Lecture Room 2
Session: International Finance 2
Chair Kansai University Sadayoshi Takaya

(1)The Spillover Analysis of the African Stock Markets in the Crisis PeriodPresenter Shiga University Yushi Yoshida
Kounan University Kimiko Sugimoto
Osaka Gakuin University Takashi Matsuki
Discussant University of Tsukuba Jun Nagayasu
(2)The Role and Function of Central Bank in Dollarization CountriesPresenter Tokai University Naotoshi Kinoshita
Rissho University Yasushi Hayashi
Discussant Ritsumeikan University Hideaki Ohta
(3)Foreign Exchange Movements and the Financial Crisis in the 2000s -Asymmetric Movements of Yen and Won-Presenter Ryukoku University Masaharu Takenaka
Institute of International Monetary Affairs Koji Sakuma
Discussant Nagasaki University Masayuki Susai

Law Lecture Room 1
Session: Corporate Finance
Chair Kinki University Yuichi Abiko

(1)Family Firms and Capital StructurePresenter Ph.D. Student, Hitotsubashi University Hokuto Dazai
Discussant Kyoto Sangyo University Atsuo Fukuda
(2)A Study on the Means for Capital Structure Adjustment: Evidence from Listed Firms in JapanPresenter Development Bank of Japan Gen-Ichiro Okamoto
Discussant Keio University Yukitami Tsuji
(3)An Analysis of Determinants of Target Debt Ratio and Adjustment SpeedPresenter Keio University Shintaro Tomita
Discussant Hitotsubashi University Masaharu Hanazaki

Law Lecture Room 3
Session: Personal Finance
Chair Meijo University Shinichiro Maeda

(1)The Impact of Public Insurance on Private Insurance Demand: Is Private Insurance a Normal Good?Presenter Nagasaki University Mahito Okura
Discussant Meiji University Yoshihiro Asai
(2)Overview of U.S. Tax Benefit for Higher Education and Its Implication for JapanPresenter Nomura Institute of Capital Markets Research Sachiko Miyamoto
Discussant Sapporo University Takao Iida
(3)What Are the Effective Sources for Financial Literacy?Presenter Daito Bunka University Hiroshi Gunji
Discussant Hitotsubashi University Tokuo Iwaisako


< 13:00 – 15:00 >

Conference Hall
Panel Session: International Finance
International Capital Flows and Financial Crisis
Chair Kobe University Seiichi Fujita

(1)International Capital Flow, European Banks and Financial CrisisPresenter Kobe University Yoichi Matsubayashi
Kobe University Seiichi Fujita
Kobe University Shigeto Kitano
(2)Financial Crisis and BailoutPresenter BNP PARIBAS Securities Japan Ltd. Mana Nakazora
(3)Financial Crisis and Credit ExternalityPresenter Bank of Japan Ryo Kato

< 13:00 – 15:00 >

Economics Lecture Room 1
Session: Monetary policy 1
Chair Kobe University Teruyoshi Kobayashi

(1)Active Policy Rule versus Ineffective Monetary Policy TVP-VAR Analysis of Chinese Monetary Policy from1994 to 2012Presenter Ph.D. Student, Hitotsubashi University Cicely Liu
Discussant Tokyo University Junko Koeda
(2)A Regime-Switching SVAR Analysis of Zero Interest Rate PolicyPresenter Tokyo University Junko Koeda
Hitotsubashi University Fumio Hayashi
Discussant Kansai University Honda Yuzo
(3)The Effects of Commodity Price Shocks and Systematic Monetary Policy in Developed CountriesPresenter Ph.D. Student, Kyoto University Atsushi Sekine
Discussant Kobe University Masahiko Shibamoto

Economics Lecture Room 2
Session: Regional Finance
Chair Chuo University Tadanobu Nemoto

(1)The Effect of the Branch Network of Regional Financial Institutions to Local Companies: Evidence for Shinkin Banks in HokkaidoPresenter Kushiro Public University Yasufumi Ozaki
Ritsumeikan University Kozo Harimaya
Discussant Waseda University Yoshiaki Ogura
(2)Deposit Market Competition and DisciplinePresenter Kagoshima University Kunikazu Nagata
Discussant Aichi Gakuin University Kazumine Kondo
(3)Relationship Banking and SME Finance in China: An Analysis based on the survey of Zhejiang Province in 2010Presenter Ph.D. Student, Kobe University Yajing Liu
Discussant Mizuho Research Institute Arito Ono

Law Lecture Room 1
Session: Financial Institutions in Different Countries
Chair Nanzan University Yoshikazu Arai

(1)Infrastructure Finance in Indonesia and Japanese Mega Banks: An Evidence from Network AnalysisPresenter Yamagata University Masaki Yamaguchi
Discussant Matsuyama University Keiichiro Nishio
(2)Expansion of the Non-Mainstream Finance in China, and Small and Medium-Sized EnterprisesPresenter Reitaku University Chen YuXiong
Discussant Kinki University Hidefumi Yamagami
(3)Determinants of Commercial Bank Efficiency in Cambodia: An Application of Two-stage DEA Method to Measure EfficiencyPresenter Hitotsubashi University Hidenobu Okuda
Ph.D. Student, Hitotsubashi University Daiju Aiba
Discussant Ritsumeikan University Kozo Harimaya

Law Lecture Room 3
Session: Macroeconomic Analysis
Chair Yamaguchi University Takashi Hyodo

(1)Long-run Analysis on Convergence of Japanese Local Price Levels: a Pairwise ApproachPresenter Surugadai University Hidehiro Ikeno
Discussant University of Tsukuba Jun Nagayasu
(2)Oil Consumption and Macroeconomic Activity in JapanPresenter Chukyo University Kunihiro Hanabusa
Discussant Hiroshima University Takashi Senda
(3)Fiscal Policy under Staggered Loan ContractPresenter Tokai University Kazuki Hiraga
Japan Center for Economic Research Tetsuaki Takano
Discussant Keio University Yuki Teranishi

< 15:10 – 16:10 > Invited Lecture

Conference Hall
Chair Nagoya University Yuichi Kanai

Speaker President, The Shinkumi Federation Bank Junichi Naito
Current Issues around Shinkumi Banks and the Future Role of the Shinkumi Federation Bank

< 16:15 – 17:15 > Presidential Address

Conference Hall
Chair Nagoya University Yuichi Kanai

Speaker Doshisha University Hideo Fujiwara
Credit Creation and Money Supply in Market Equilibrium and Disequilibrium -Closed Economy and Open Economy-

< 17:20 – 18:00 > General Meeting
Conference Hall

< 18:15 – 20:15 > Reception
South Restaurant, Higashiyama Campus

September 22th , Sunday

< 9:00 – > Registration:1st Floor of Law & Economics Shared Facilities Bldg, Higashiyama Campus

< 9:30 – 11:30 >
Conference Hall

Special Session   Abenomics
Chair Tokyo University of Social Welfare Kenji Mizutani

(1)Presenter Kansai University Yuzo Honda
(2)Presenter Keio University Seki Obata
(3)Presenter NLI Research Institute Yasuhide Yajima
(4)Presenter The Korea Institute of Finance GongPil Choi
Discussant Kobe University Toshiki Jinushi

< 9:30 – 11:30 >

Economics Lecture Room 1
Session: International Finance 3
Chair Tokyo Keizai University Norio Kumamoto

(1)An Analysis on Stationality of East Asian Currencies by the Unit Root Test and the Cointegration TestPresenter Ph.D. Student, Hitotsubashi University Wang Zhiqian
Discussant Toyo University Kentarou Kawasaki
(2)Time Varying Pass-Through: Will the Yen Depreciation Help Japan Hit the Infaltion Target?Presenter Hitotsubashi University Etsuro Shioji
Discussant Seikei University Masanori Oono
(3)China Economic Growth and Impact to Asia -Applying A Global VAR Model-Presenter Japan Bank of International Cooperation Hitoshi Oshige
Discussant Musashi University Sanae Ohno

Economics Lecture Room 2
Session: Financial History <10:50 – 11:30>
Chair Nagoya City University Kazuki Yokoyama

(1)Monetary Policy under the Truman Administration -Policy Management of the Federal Reserve in the Pre-Accord Period-Presenter Ph.D. Student, Keio University Yasuto Dobashi
Discussant Matsuyama University Tatsuro Kakeshita
(2)The Downfall of Sterling as a Reserve Currency and the Sterling AgreementsPresenter Nagoya University Yuichi Kanai
Discussant Waseda University Kazuhiko Yago

Law Lecture Room 1
Session: Monetary Policy 2
Chair Hiroshima University Takashi Senda

(1)Asymmetric Forecasting in Real-time Learning and the Taylor RulePresenter Kurume University Taro Ikeda
Discussant Kobe University Teruyoshi Kobayashi
(2)Nominal Idiosyncratic Shocks and Optimal Monetary PolicyPresenter Kanagawa University Eisei Ohtaki
Discussant Meisei University Keiichi Morimoto
(3)The Non-negative Constraint on Nominal Interest Rate and the Effects of Monetary PolicyPresenter Ph. D. Student, Kobe University Kohei Hasui
Discussant Keio University Yuki Teranishi

Law Lecture Room 3
Session: Market Analysis
Chair Aichi Gakuin University Shigeru Uchida

(1)An Investigation of Housing Affordability in the UKPresenter University of Tsukuba Jun Nagayasu
University of Stirling Alberto Montegnoli
Discussant Musashi University Sanae Ohno
(2)Market Liquidity and Bank-dominated Corporate Governance: Evidence from JapanPresenter Nagoya City University Hideaki Sakawa
Kushiro Public University of Economics Masato Ubukata
Ritsumeikan University Naoki Watanabe
Discussant Kwansei Gakuin University Hiroyuki Aman
(3)Establishment of the Comprehensive Exchange from the Viewpoint of Commodity FuturesPresenter Dot Commodity, Inc. Naoaki Kurumada
Rissho University Yasushi Hayashi
Discussant Keio University Kazuhito Ikeo

< 11:30 – 12:30 > Lunch

< 12:30 – 15:30 >
Conference Hall

Symposium: Historical Review of the BOJ Underwriting of Government Bonds in and after 1932: the Beginning, the Ending and the Outcome
Chair Hosei University Masayoshi Tsurumi

(1)What Did the Quiet Beginning Mean?: Changing Ways of Issuance of Government Bonds in 1932Presenter Konan University Akira Ehiro
(2)How Much to Buy Government Bonds?: Views from the Syndicate BanksPresenter Reitaku University Masanori Sato
(3)How Did It Restrain the Postwar Period?: The Treatment of War-Time Government Bonds and Hyper InflationPresenter Otsuma Women’s University Masanao Itoh
Discussant Kwansei Gakuin University Hisashi Harui
Meiji University Isao Suto
Seijo University Yoshio Asai

Program committee

Yutaka Kurihara (Aichi University, Chair)
Yoshikazu Arai (Nanzan University)
Yuichi Kanai (Nagoya University)
Takeshi Kobayashi (Chukyo University)
Masanori Sato (Reitaku University)
Sadami Takaya (Kansai University)
Shin-Ichi Nishiyama (Tohoku University)
Yasushi Hayashi (Rissho University)
Seiichi Fujita (Kobe University)
Hideaki Murase (Gakushuin University)
Nobuyoshi Yamori (Nagoya University)
Yuichi Abiko (Kinki University)
Shigeru Uchida (Aichi Gakuin University)
Shigeto Kitano (Kobe University)
Masaya Sakuragawa (Keio University)
Takashi Senda (Hiroshima University)
Toshiki Jinushi (Kobe University)
Tadanobu Nemoto (Chuo University)
Takashi Hyodo (Yamaguchi University)
Shinichiro Maeda (Meijo University)
Junji Yano (Hiroshima University)
Kazuki Yokoyama (Nagoya City University)

Executive Committee

Yuichi Kanai (Chair)
Kanna Ito
Kenya Takaku
Nobuyoshi Yamori (Vice-Chair)
Ichihiro Uchida
Kei Tomimura
Yoshihiro Asai
Daisuke Koga
Masahiro Hashimoto
Ayako Ishizaka
Kazumine Kondo

Access to Higashiyama Campus, Nagoya University