2017 Spring Annual Meeting Program

May 27th, Saturday

< 9:30 – > Registration:International Conference Center (Building #18), First Floor, Waseda Campus, Waseda University

< 10:00 – 12:00 >

Venue A
Session: Financial History
Chair Reitaku University Masanori Sato

(1)Recovering the Function of Interest Rate by Overcoming the Zero Lower Bound of Deposit and Lending Interest Rates: Introduction of Negative Deposit Interest Rates by Commercial Banks and Conditional Interest Payments by Monetary and Fiscal AuthoritiesPresenter Meiji Gakuin University Sangbec Lee
Discussant Doshisha University Yoshiaki Shikano
(2)Japanese equity risk premium in the early Showa eraPresenter Ph.D. Student, Saitama University Kenichi Hirayama
Discussant Ibbotson Associates Japan, Inc Katsunari Yamaguchi
(3)Policy Debate on Bank Types and the National Bank SystemPresenter Doshisha University Yoshiaki Shikano
Discussant Hosei University Masayoshi Tsurumi

Venue B
Session: Monetary Policy
Chair University of Tokyo Ryuzo Miyao

(1)Estimating the Monetary Policy Measures of Japan in Shadow/ZLB Term Structure ModelPresenter Ph.D. Student, Kobe University Ryuzo Miyao
Discussant Hokkaido University Toyoichiro Shirota
(2)The Effect of the Bank of Japan’s ETF Purchases and Considering an Exit StrategyPresenter Ph.D. Student, Saitama University Yoshikazu Sato
Discussant Waseda University Yasuhiro Yonezawa
(3)Why ‘Abenomics’ has been failed?: Ineffectiveness of Monetary Policy in JapanPresenter Ritsumeikan University Hideaki Ohta
Discussant Osaka Prefecture University Minoru Tachibana

Venue C
Session: Financial Intermediary
Chair Senshu University Takahiko Watanabe

(1)Bank Dividend Policy and Disposal of Non-performing LoanPresenter Yokohama City University Sui Qing-yuan
Discussant Kobe University Nobuyoshi Yamori
(2)Impact of Japanese banks’ strategic stockholdings on their cost of capitalPresenter Bank of Japan Kei Ikeda
Discussant Keio University Shintaro Tomita
(3)Legal Perspectives of International Financial Regulatory SystemPresenter Waseda University Takashi Kubota
Discussant Kyorin University Masatoshi Okawa

Venue D
Session: Macroeconomics and International Capital Flow
Chair Musashi University Sanae Ohno

(1)Study on stock market participation of working generationPresenter Ph.D. Student, Saitama University Hiroyuki Miyamoto
Discussant Hitotsubashi University Tokuo Iwaisako
(2)Domestic Credit Growth, International Capital Inflows, and Risk Perception in Global MarketsPresenter Ph.D. Student, Keio University Satoshi Tobe
Discussant Kobe University Kentaro Iwatsubo
(3)Population aging, retirement policy, and current account reversalsPresenter Nagoya City University Kazuyuki Inagaki
Discussant Tohoku University Jun Nagayasu

< 12:00 – 13:30 > Lunch

< 13:30 – 15:30 >

Venue A
Panel Session: International Finance
China, ASEAN Economy, and Financial and Currency Order in Asia
Chair Kyoto University Fumiharu Mieno

(1)The Current Situation and Challenges of Currency System in AsiaPresenter Gakushuin Universzity Junko Shimizu
(2)Current Situation of the Chinese Economy and Hereafter Economic Relation between Japan and ChinaPresenter The Canon Institute for Global Studies Kiyoyuki Seguchi
(3)ASEAN’s Economic Developments after GFC and Startup of ASEAN+3 Macroeconomic Office (AMRO) and its ChallengesPresenter Policy Research Institute, Ministry of Finance Yoichi Nemoto
Discussant Kobe University Takuji Kinkyo

< 13:30 – 15:30 >

Venue B
Session: Monetary and Macroeconomics
Chair Kobe University Shin-Ichi Nishiyama

(1)Robust Monetary Policy Under Deep Parameter UncertaintyPresenter Ph.D. Student, University of Tokyo Naoto Soma
Discussant Bank of Japan Sohei Kaihatsu
(2)Countercyclical Capital Regulation in a Dynamic General Equilibrium ModelPresenter Ph.D. Student, Nagoya University Sato Yoshiaki
Discussant Aichi Shukutoku University Kenya Takaku
(3)Capital Controls and Financial Frictions in a Small Open EconomyPresenter Kobe University Shigeto Kitano
Aichi Shukutoku University Kenya Takaku
Discussant Sophia University Michiru Kosaka

Venue C
Session: Corporate Finance
Chair Hitotsubashi University Masaharu Hanazaki

(1)The Valuation of Alternative Schemes to Public Stock OfferingPresenter Ph.D. Student, Waseda University Makoto Tsurusawa
Waseda University Keiichi Omura
Discussant Chuo University Toyoharu Takahashi
(2)Empirical Evidence on “Systemic as a Herd”:The Case of Japanese Regional BanksPresenter Bank of Japan Yosuke Kido
Bank of Japan Naohisa Hirakata
Monetary Authority of Singapore Jie Liang Thum
Discussant Hitotsubashi University Hisashi Nakamura
(3)A Factor for Effective Corporate Governance:Significance and the Role of IntegrityPresenter Keio University Mitsuaki Okabe
Discussant Hitotsubashi University Masaharu Hanazaki

Venue D
Session: Foreign Exchange and Currency
Chair Kansai University Sadayoshi Takaya

(1)Firms’ Predicted Exchange Rate and Nonlinearities in Pricing-to-MarketPresenter Ph.D. Student, Yokohama National University Thi Ngoc Anh Nguyen
Yokohama National University Kiyotaka Sato
Discussant Doshisha University Shingo Iokibe
(2)Ross Recovery on FX marketPresenter Asset Management One Co., Ltd Ryutaro Morikawa
Discussant Nagasaki University Masayuki Susai
(3)Exchange Rate Volatility, Exports and Global Value ChainsPresenter Ph.D. Student, Yokohama National University Zhang Shajuan
Yokohama National University Kiyotaka Sato
Discussant Senshu University Keiko Ito

< 15:50 – 16:20 > Invited Lecture

International Conference Center (Building #18), Masaru Ibuka Auditorium
Theme TBA
Chair Hitotsubashi University Eiji Ogawa
Speaker Governor, Bank of Japan Haruhiko Kuroda (tentative)

< 16:40 – 17:40 > General Meeting
International Conference Center, Masaru Ibuka Auditorium (Building #18)

< 18:00 – 19:30 > Reception
International Conference Center (Building #18), 3rd Floor

May 28th, Sunday

< 9:30 – >Registration: International Conference Center (Building #18), First Floor, Waseda Campus, Waseda University

< 10 :00 – 12:00 >

Venue A
Panel Session: Financial History
A Historical Approach to Functions of International Financial Centres: Perspectives of Network, Complementarity, and Transmission
Chair Reitaku University Masanori Sato

(1)Financial market response to financial crisis during the interwar periodPresenter University of Tsukuba Hidenao Takahashi
(2)London and New York in the International Dollar Market in the 1960s: A Case of BOLSAPresenter Tohoku University Ayumu Sugawara
(3)International Capital Flows in Peripheral Asian Nations, around 1980-2010Presenter Asia University Koji Fuda
Discussant Hosei University Masayoshi Tsurumi

< 10:00 – 12:00 >

Venue B
Session: Financial Markets
Chair Waseda University Hajime Tomura

(1)The Development of FinTech in China and Its Future ChallengesPresenter Nomura Institute of Capital Markets Research Lirong Li
Discussant Osaka City University Dongming Wang
(2)Can Forward Guidance Influence the Market Expectation?-Text Mining ApproachPresenter Mitsubishi UFJ Trust Investment Technology Institute Shintaro Suda
Discussant Yokohama City University Yoshiyuki Nakazono
(3)Recent Real Estate Transactions under Easing Monetary PolicyPresenter Kansai Gaidai University Yasuhiro Horie
Discussant Kindai University Yuichi Abiko

Venue C
Session: Financial System
Chair Waseda University Takashi Kubota

(1)Related Party Transaction in JapanPresenter Nagoya University of Commerce and Business Hokuto Dazai
Discussant Hitotsubashi University Iichiro Uesugi
(2)Bank soundness and Cash Holdings: Evidence from a Bank-Centered Financial MarketPresenter Hitotubashi University Katsushi suzuki
Discussant Keio University Wako Watanabe
(3)Toward Revitalization of the securitization Market in JapanPresenter Yokohama Nation University Masahiko Takahashi
Discussant NLI Research Institute Katsuyuki Tokushima

Venue D
Session: International Capital Flows
Chair Kobe University Shigeto Kitano

(1)The increasing Renminbi’s flexibility: from a perspective of foreign reserves and capital flowsPresenter Ph.D. Student, Hitotsubashi University Zhou Xuezhi
Discussant Tokyo Keizai University Masao Kumamoto
(2)Intraday Volatility Spillover Index: Application in an Analysis of the Impact of the Brexit on Information Flow among European Stock MarketsPresenter University of International Business and Economics Yusaku Nishimura
Discussant Musashi University Sanae Ohno
(3)Intra-temporal Substitution between Tradable and Non-tradable Goods: Evidence from Japanese Household Survey DataPresenter Tohoku University Jun Nagayasu
Discussant Kobe University Shin-Ichi Nishiyama

< 13:30 – 16:00 >

International Conference Center (Building #18), Masaru Ibuka Auditorium
Symposium: Assessment of the Monetary Easing from the Viewpoint of Business Economics
Chair National Graduate Institute for Policy Studies Kiyohiko Nishimura

(1)Business Economists as Information ProvidersPresenter Marusan Securities Seiji Adachi
(2)The Side Effects of the BOJ’s Unconventional Monetary PolicyPresenter Totan Research Izuru Kato
(3)Business Economists in a Central BankPresenter Chuo University Hiroshi Fujiki

Program committee

Ryuzo Miyao (University of Tokyo, Chair)
Iichiro Uesugi (Hitotsubashi University)
Masaharu Hanazaki (Hitotsubashi University)
Mahito Uchida (Seijo University)
Kimie Harada (gakushuin University)
Sanae Ohno (Musashi University)
Takashi Hyodo (Yamaguchi University)
Arito Ono (Chuo University)
Fumiharu Mieno (Kyoto University)
Shigeto Kitano (Kobe University)
Nobuyoshi Yamori (Kobe University)
Masanori Sato (Reitaku University)
Takahiko Watanabe (Senshu University)
Ayumu Sugawara (Tohoku University)
Takashi Kubota (Waseda University)
Sadayoshi Takaya (Kansai University)
Junko Koeda (Waseda University)
Kunikazu Nagata (Kagoshima University)
Hajime Tomura (Waseda University)
Shin-ichi Nishiyama (Kobe University)
Masato Shizume (Waseda University)

Executive Committee

Fumihiko Huruma (Chair)
Hideaki Miyajima
Kazuhiko Yago
Yoshiaki Ogura
Hajime Tomura
Junko Koedai
Takashi Kubota
Masato Shizume

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