1.＜ 10:00 - 12:00 ＞

Room A（South Building No.3, Room 103）
Session:Monetary Policy and Macroeconomics Ⅰ

• Chair
• Sophia University
• Yosuke Takeda

（1）Fiscal Determinacy of the Price Level: Evidence from the FTPL

• Presenter
• Ph.D. Student, Tohoku University
• Lamia Bazzaoui

• Discussant
• Kobe University
• Shin-Ichi Nishiyama

（2）Price Stickiness and Wage Stickiness in Generalized New-Keynesian Model

• Presenter
• Kanto Gakuen University
• Rui Wang

• Discussant
• Ph.D. Student, Kobe University
• Satoshi Hoshino

（3）Speed Limit Policy and Knightian Uncertainty

• Presenter
• Matsuyama University
• Kohei Hasui

• Discussant
• Tokai University
• Kazuki Hiraga

Room B（South Building No.3, Room 104）
Session:Regional Finance

• Chair
• Meiji University
• Takayasu Ito

（1）The Current Significance and Implication　of Complementary Currencies

• Presenter
• Rissho University
• Tetuya Utashiro

• Rissho University
• Yasushi Hayashi

• Discussant
• Senshu University
• Makoto Nishibe

（2）The Roles of Local Financial Institutions and the Local Finance Bureaus for the Vitalizing Local Economy

• Presenter
• Ministry of Finance
• Kenji Haramura

• Shiga University
• Masashi Katayama

• Discussant
• Kyushu Kyoritsu University
• Hiroaki Nishiyama

（3）The Future Image of Shinkin Banks

• Presenter
• Kansai Gaidai University
• Yasuhiro Horie

• Fukuoka University
• Ritsuko Arioka

• Discussant
• Kindai University
• Yuichi Abiko

Room C（South Building No.3, Room 202）
Session:International Capital Flows

• Chair
• Toyo University
• Kentaro Kawasaki

（1）“Effects of US Interest Rate Hike and Global Risk on Daily Capital Flows in Emerging Market Countries”

• Presenter
• Hitotsubashi University / RIETI
• Eiji Ogawa

• Gakushuin University
• Junko Shimizu

• Hitotsubashi University
• Pengfei Luo

• Discussant
• Bloomberg L.P.
• Yuki Masujima

（2）Gains from Policy Cooperation in Capital Controls and Financial Market Incompleteness

• Presenter
• Kobe University
• Shigeto Kitano

• Hiroshima City University
• Kenya Takaku

• Discussant
• Momoyama Gakuin University
• Daisuke Ida

（3）New Facts on the ‘F-H Puzzle’ in OECD Countries: The Effects of International Capital Flows on Domestic Savings, Investment and Growth

• Presenter
• Ritsumeikan University
• Hideaki Ohta

• Discussant
• Hiroshima University of Economics
• Isamu Ginama

2.＜ 10:00 - 12:00 ＞

Room E（South Building No.3, Room 301）
Panel Session:Contemporary Financial History of East Asia

• Chair
• Waseda University
• Kazuhiko Yago

（1）Financial System of People’s Republic of China 1949-2017: In Terms of the Relationship between Chinese and Global Economies

• Presenter
• University of Tokyo
• Tomoko Shiroyama

（2）Banking between Hong Kong and Mainland China（1945-2018）
：The Development of Mainland Banks in Hong Kong

• Presenter
• Osaka University of Economics
• Man-Han Siu

（3）Capital Market Policy in Korea, 1968-1976

• Presenter
• Ewha Womans University
• Myunghwi Lee

• Discussant
• Tohoku University
• Toshio Suzuki

• Keio University
• Motoaki Akagawa

4.＜ 13:30 - 15:30 ＞

Room A（South Building No.3, Room 103）
Session:Financial Intermediary

• Chair
• Chuo University
• Arito Ono

（1）Financial Stress in Euro Area: Implications for Real Economy, Monetary Policy, and Financial Integration

• Presenter
• Kobe University
• Agata Wierzbowska

• Discussant
• Sophia University
• Yosuke Takeda

（2）Bank Soundness and Bank Lending to New Firms during the Global Financial Crisis

• Presenter
• Aichi Gakuin University
• Eriko Naiki

• Nanzan University
• Yuta Ogane

• Discussant
• Waseda University
• Yoshiaki Ogura

（3）Bank-specific Determinants of Capital Structure: New Evidence from Japan

• Presenter
• Mitsubishi UFJ Research and Consulting
• Taku Kinai

• Saitama University
• Takeshi Osada

• Discussant
• Hitotsubashi University
• Iichiro Uesugi

Room B（South Building No.3, Room 104）
Session:Money and Finance in Various Countries

• Chair
• Kyoto University
• Fumiharu Mieno

（1）Initial Public Offerings and the Market Responses in China

• Presenter
• Ph.D. Student, Doshisha University
• Jie Yu

• Discussant
• Daito Bunka University
• Hiroshi Gunji

（2）Critique to so-to-say ”a Precedent Related to the International Application of the Code of Money Lending”

• Presenter
• Takushoku University
• Nobuo Yamamura

• Discussant
• Yokohama National University
• Masahiko Takahashi

（3）Is Islamic Microfinance Serving the Poor People Compare to Conventional Microfinance? An Empirical Study from Bangladesh

• Presenter
• Ritsumeikan Asia Pacific University
• Yasushi Suzuki

• Ritsumeikan Asia Pacific University
• Helal Uddin

• Discussant
• Japan External Trade Organization
• Jun Saito

Room C（South Building No.3, Room 202）
Session:Financial Market Analysis

• Chair
• Ritsumeikan University
• Aono Kohei

（1）Does Liquidity Enhancement Auction Improve the Liquidity Condition in Japan Market?

• Presenter
• Policy Research Institute,Ministry of Finance, Japan
• Takahiro Hattori

• Discussant
• Bank of Japan
• Yasufumi Genma

（2）On the Validity and Stability of the Model Consumption-based Capital Asset Pricing Model Considering Land Price

• Presenter
• Setsunan University
• Masafumi Kozuka

• University of Marketing and Distribution Sciences
• Tatsuya Morisawa

• Discussant
• Doshisha University
• Shin-ichi Kitasaka

（3）Management Earnings Forecasts and Investor Trust: Signaling Effect of Corporate Social Responsibility

• Presenter
• Waseda University
• Megumi Suto

• Waseda University
• Hitoshi Takehara

• Discussant
• Hitotsubashi University
• Masaharu Hanazaki

Room D（South Building No.3, Room 401）
Session:Financial History

• Chair
• Nihon University
• Michiru Sawada

（1）Ryo/Mon Exchange Rate and Coinage Policy during the Tanuma Period in Japan

• Presenter
• Keio University
• Noriko Fujii

• Discussant
• Keio University
• Shigehiko Ioku

（2）Money Doctors and the Monetary Reform Debate during the Late 19th Century in Japan

• Presenter
• Waseda University
• Masato Shizume

• Discussant
• Tokyo Metropolitan University
• Noburu Kobayashi

（3）UK Banking Act 1979 and the Bank of England: Policy Stance and Implications for the European Banking Union

• Presenter
• Kanazawa University
• Hideki Sato

• Discussant
• Waseda University
• Kazuhiko Yago

5.＜ 13:30 - 15:30 ＞

Room E（South Building No.3, Room 301）
Panel Session: Why has the Bank of Japan not Achieved "Price Stability Target" of 2 Percent？

• Chair
• Mizuho Research Institute Ltd
• Kazuo Momma

（1）Factors "Stabilizing" Prices in Japan

• Presenter
• Totan Research
• Izuru Kato

（2）Regime Switching of Inflation and Monetary Policy

• Presenter
• Marusan Securities
• Seiji Adachi

（3）Why has Japan Failed to Escape from Deflation?

• Presenter
• University of Tokyo
• Tsutomu Watanabe

• Discussant
• Seijo University
• Mahito Uchida

6.＜ 15:40 - 16:40 ＞　Invited Lecture

Room F （South Building No.3, Room 201）

• Chair
• Gakushuin University
• Junko Shimizu

• Speaker
• President, Government Pension Investment Fund （GPIF）
• Norihiro Takahashi

Theme：Asset Management of GPIF

7.＜ 16:50 - 17:40 ＞　General Meeting

Room F （South Building No.3, Room 201）

8.＜ 18:00 - 20:00 ＞　Reception

University Cafeteria in Hojin Kaikan

9.＜ 10:00 - 12:00 ＞

Room A（South Building No.3, Room 103）
Session:Monetary Policy and Macroeconomics Ⅱ

• Chair
• Ministry of Internal Affairs and Communications
• Yukie Sakuragawa

（1）The Response of Corporate Financing and Investment to Expansionary Monetary Policy: Evidence from China

• Presenter
• Ph.D. Student, Waseda University
• Cai Yue

• Discussant
• Daito Bunka University
• Hiroshi Gunji

（2）Stock Lending Market and the BOJ's ETF Purchasing Program: Micro-Evidence from ETF Balance Sheet Data and Equity Repo Trading Data

• Presenter
• Tokio Marine & Nichido Fire Insurance Co., Ltd
• Kou Maeda

• Waseda University
• Junnosuke Shino

• Discussant
• The University of Manchester
• Yoichi Otsubo

（3）The Collateral Channel versus the Bank Lending Channel: Evidence from a Massive Earthquake

• Presenter
• Hitotsubashi University
• Iichiro Uesugi

• Hitotsubashi University
• Daisuke Miyakawa

• Gakushuin University
• Kaoru Hosono

• Chuo University
• Arito Ono

• Kobe University
• Hirofumi Uchida

• Discussant
• Kobe University
• Masahiko Shibamoto

Room B（South Building No.3, Room 104）
Session:Corporate Finance

• Chair
• Hitotsubashi University
• Yukihiro Yasuda

（1）Foreign Exchange Risk Management for Asian Currencies

• Presenter
• Asia University
• Hiroshi Akabane

• Discussant
• Chuo University
• Taiyo Yoshimi

（2）The Financial Effect of Airport Concessions: An Empirical Analysis

• Presenter
• Meiji University
• Daisuke Asaoka

• Discussant
• Chuo University
• Toyoharu Takahashi

（3）Corporate Performance of Japanese Firms’ Cross-Border M&As

• Presenter
• Chuo University
• Satoshi Koibuchi

• Ph.D. Student, Hitotsubashi University
• Mizuki Goto

• Discussant
• Tokyo Keizai University
• Masaya Ishikawa

Room C（South Building No.3, Room 202）
Session:Currency Exchange and Capital Flow

• Chair
• Musashi University
• Sanae Ohno

（1）Evaluating the Effectiveness of Foreign Exchange Intervention Using Counterfactual Analysis: Evidence from Japanese Intervention Episodes, 2010-2011

• Presenter
• Kobe City University of Foreign Studies
• Taro Esaka

• Kobe City University of Foreign Studies
• Takao Fujii

• Discussant
• Kindai University
• Takeshi Hoshikawa

（2）International Portfolio Rebalancing and Equity Market Spillovers

• Presenter
• Shiga University
• Yushi Yoshida

• Discussant
• Konan University
• Kimiko Sugimoto

（3）Unemployment in a Balassa-Samuelson Model with Heterogeneous Job Separations

• Presenter
• University of South Australia
• Noel Gaston

• Chuo University
• Taiyo Yoshimi

• Discussant
• Waseda University
• Masashige Hamano

10.＜ 10:00 - 12:00 ＞

Room E（South Building No.3, Room 301）
Panel Session: AI and Asset Management

• Chair
• Kobe University
• Kentaro Iwatsubo

（1）Dynamic Detection of Cross-Sectional Factors; AI Approach

• Presenter
• Kwansei Gakuin University / Magne-Max Capital Management
• Katsuhiko Okada

（2）How much can artificial intelligence be useful for asset management?

• Presenter
• Ibaraki University / Daiwa Asset Management Co.Ltd.
• Tomoya Suzuki

（3）Forex short-term forecasting with AlpacaAI

• Presenter
• AlpacaJapan Co.,Ltd
• Tomoya Kitayama

12.＜ 13:30 - 16:00 ＞

Room F（South Building No.3, Room 201）
Symposium: Abenomics: Past, Present, and Future

• Chair
• University of Tokyo
• Shin-ichi Fukuda

（1）Abenomics: Firing Point and Landing Point of the Third Arrows

• Presenter
• Columbia University / The National Graduate Institute for Policy Studies
• Takatoshi Ito

（2）Changes of Abenomics and Monetary Policy

• Presenter
• Rissho University
• Kazuto Ikeo

（3）Backgrounds of Prolonged Mild Deflation in Japan

• Presenter
• Ricoh Institute of Sustainability and Business
• Takashi Kozu