THE JAPAN SOCIETY OF MONETARY ECONOMICS
2013 Spring Annual Meeting Program

Last updated: May 7, 2013

Saturday, May 25th

<9:30- > Registration:1st Floor of the Main Building, Kunitachi West Campus

<10:00-12:00>

A (Room 31)
Panel Session: Financial History
Regulation and Reform of the International Monetary System: OECD-WP3 in the 1960s and the 70s
  • Chair
  • Waseda University
  • Kazuhiko Yago
(1)Is it Possible to Regulate International Finance? Evidences from the Debate on the Eurodollar Market in Basel, Washington and Paris
  • Presenter
  • Université de Genève
  • Carlo Edoardo Altamura
(2)Debate over International Monetary Reform in the OECD WP3: Transition to a Floating Exchange Rate
  • Presenter
  • Yokohama National University
  • Teru Nishikawa
(3)Coping with Globalization: France at the OECD WP3 and the Reform of the International Monetary System (1961-1979)
  • Presenter
  • Ph.D. Student, Université de Rouen
  • Floriane Galeazzi
  • Discussant
  • Université de Rouen
  • Olivier Feiertag

<10:00-12:00>

B (Room 36)
Session: Industrial Organization in the Banking Sector
  • Chair
  • Waseda University
  • Yoshiaki Ogura
(1)Market Evaluations and Strategic Factors: A Comparison from Asian Banks' M&A and Alliances
  • Presenter
  • Aoyama Gakuin University
  • Yoko Shirasu
  • Discussant
  • Bank of Canada
  • Naoaki Minamihashi
(2)Bank Diversification into the Insurance Business: Effects of Deregulation of Bank-sales Channel at Japanese Banks
  • Presenter
  • Hitotsubashi University
  • Masaru Konishi
  • Chuo University
  • Eiji Okuyama
  • Tokyo Keizai University
  • Yukihiro Yasuda
  • Discussant
  • Chuo University
  • Satoshi Koibuchi
(3)Who Becomes Arranger? : Evidence from Matched Data of Bilateral and Syndicated Loans
  • Presenter
  • Osaka University of Economics
  • Fumio Akiyoshi
  • Bank of Canada
  • Naoaki Minamihashi
  • Discussant
  • Hitotsubashi University
  • Iichiro Uesugi
C (Room 38)
Session: Financial Institutions in Different Countries
  • Chair
  • Ritsumeikan University
  • Kozo Harimaya
(1)The Finance of Taylors & Lloyds: Its Early Dependence on the Insider Lending and Beyond
  • Presenter
  • Ph.D. Student, St. Paul's University
  • Yukimi Suyama
  • Discussant
  • Reitaku University
  • Chen Yuxiong
(2)The Reason of Low Foreign Bank's Rate of Return in China: The Necessity of Financial Deregulation
  • Presenter
  • Ph.D. Student, Hitotsubashi University
  • Lang Ling
  • Discussant
  • Nagoya University
  • Nobuyoshi Yamori
(3)Economies of Scale and Scope in the GCC Islamic Banks
  • Presenter
  • University of Tsukuba
  • Hajime Kamiyama
  • Discussant
  • Ritsumeikan University
  • Kozo Harimaya
D (Room 24)
Session: Japanese Financial System
  • Chair
  • Ritsumeikan University
  • Kohei Aono
(1)Empirical Analysis of Profitability and the Loss on Disposal of Distressed Assets in Shinkin Banks and Credit Cooperatives
  • Presenter
  • Kansai Gaidai University
  • Yasuhiro Horie
  • Discussant
  • Fukuoka University
  • Ritsuko Arioka
(2)Financial Analyses in Labor Bank
  • Presenter
  • Okayama University
  • Satoshi Mimura
  • Discussant
  • Yokohama City University
  • Tsuguo Fujino
(3)Behavior of Japanese Mutual Fund Companies and Investors in Emerging Equity Funds
  • Presenter
  • Seikei University
  • Masashi Toshino
  • Discussant
  • Gakushuin University
  • Ken-ichi Tatsumi
E (Room 26)
Session: International Finance
  • Chair
  • Toyo University
  • Kentaro Kawasaki
(1)The AMU Deviation Indicators Based on the Purchasing Power Parity and Adjusted by the Balassa-Samuelson Effect
  • Presenter
  • Hitotsubashi University
  • Eiji Ogawa
  • Ph.D. Student, Hitotsubashi University
  • Wang Zhiqian
  • Discussant
  • Chuo University
  • Soko Tanaka
(2)Feature of Currency Basket by Use of Singapore Dollar as a Sample
  • Presenter
  • Mizuho Corporate Bank, Ltd.
  • Hiroshi Akabane
  • Discussant
  • Yokohama National University
  • Kiyotaka Sato
(3)How Does the Regional Monetary Unit Work as a Surveillance Tool in East Asia?
  • Presenter
  • Toyo University
  • Kentaro Kawasaki
  • Discussant
  • Gakushuin University
  • Junko Shimizu
F (Room 28)
Session: Monetary Policy
  • Chair
  • Chiba Keizai University
  • Eiji Okano
(1)The Effectiveness of Unconventional Monetary Policy in the United States
  • Presenter
  • Kwansei Gakuin University
  • Yoshitaka Sawada
  • Discussant
  • Waseda University
  • Yutaka Harada
(2)The Japanese Economic Recovery in the Middle 2000s and the Quantitative Easing Policy:A Cointegrated VAR Analysis
  • Presenter
  • Okinawa International University
  • Naoya Ikemiyagi
  • Discussant
  • University of Marketing and Distribution Sciences
  • Masafumi Kozuka
(3)Is the Quantitative Easing Policy Effective under Zero Interest Rate?
  • Presenter
  • Waseda University
  • Tomohiro Inoue
  • Waseda University
  • Shunsuke Shinagawa
  • Chuo University
  • Eiji Tsuzuki
  • Tokyo Denki University
  • Moto Kamiura
  • Discussant
  • Chuo University
  • Toichiro Asada

<12:00-13:20> Lunch

<13:20-15:20>

A (Room 31)
Panel Session: Central Banking
Extricating Japan from Deflation: Effectiveness and Limitations of the Central Banks' Unconventional Monetary Policies
  • Chair
  • Kobe University
  • Wataru Takahashi
(1)Unconventional Monetary Policy of the FRB and BOE: Their Means, Effectiveness and Problems
  • Presenter
  • Senshu University
  • Takayuki Tanaka
(2)Limits of Unconventional Monetary Policy and the Collapse of Inflation Targeting
  • Presenter
  • University of Tokyo
  • Yasushi Iwamoto
(3)End of Deflation and Monetization
  • Presenter
  • BNP Paribas SA
  • Ryutaro Kono
  • Discussant
  • Asia and Pacific Department, International
  • Monetary Fund
  • Masahiko Takeda

<13:20-15:20>

C (Room 38)
Japan-Korea Partnership Session: New Trends in Financial Economic Analysis
  • Chair
  • Hitotsubashi University
  • Hidenobu Okuda
(1)Term Structure Dynamics with Macro Factors Using High Frequency Data
  • Presenter
  • Texas A&M University
  • Hwagyun Kim
  • Bank of Korea
  • Hail Park
  • Discussant
  • Hitotsubashi University
  • Hideyuki Takamizawa
(2)The Impact of Sudden Change on Long Memory between Japanese and Korean Stock Market
  • Presenter
  • Pusan National University
  • Sang Hoon Kang
  • Pusan National University
  • Seong-Min Yoon
  • Discussant
  • Musashi University
  • Sanae Ohno
(3)Measuring Core Inflation under Price Divergence
  • Presenter
  • Bureau of Economic Analysis
  • Ryan Greenaway-McGrevy
  • Sungkyunkwan University
  • Youngse Kim
  • University of Texas at Dallas
  • Donggyu Sul
  • Discussant
  • Surugadai University
  • Hidehiro Ikeno

<13:20-15:20>

B (Room 36)
Session: Financial Regulation and Financial Contracting
  • Chair
  • Mizuho Research Institute
  • Arito Ono
(1)Study to Use of Basel III (Capital Buffer) in Japan
  • Presenter
  • Ministry of Finance
  • Yoshikazu Suzuki
  • Aoyama Gakuin University
  • Yoko Shirasu
  • Kyoto University
  • Hidetaka Kawakita
  • Discussant
  • Bank of Japan
  • Yoshiyuki Kurachi
(2)Function of Collateral when Asset Class is Account Receivables and Inventory: A Comparative Analysis of Japanese and US Bank Inspection Manuals
  • Presenter
  • Kansai Gaidai University
  • Aki Kinjo
  • Discussant
  • University of Tokyo
  • Tomoko Amaya
D (Room 24)
Session: Regional Banking
  • Chair
  • Nagoya University
  • Nobuyoshi Yamori
(1)The Analysis of Discretionary Factors in Loan Interest Rates of Regional Financial Institutions
  • Presenter
  • Osaka Sangyo University
  • Shohei Ishibashi
  • Discussant
  • Ritsumeikan University
  • Kozo Harimaya
(2)An Analysis about Borrowing Rates of Japanese SMEs: Are There Any Differences among Bank Categories?
  • Presenter
  • Japan Finance Corporation Research Institute
  • Isao Morioka
  • Discussant
  • Kinki University
  • Yuichi Abiko
(3)Empirical Analysis of the Influence of “the Act on Temporary Measures to Facilitate Financing for Small and Medium-Sized Enterprises” on Corporate Financing in Japan
  • Presenter
  • Ph.D. Student, Hitotsubashi University
  • Takanori Kondo
  • Discussant
  • Kobe University
  • Hirofumi Uchida
E (Room 26)
Session: Corporate Finance
  • Chair
  • Keio University
  • Yukitami Tsuji
(1)Event Study of Credit Rating
  • Presenter
  • Akita Prefectural University
  • Michiko Miyamoto
  • Discussant
  • Senshu University
  • Nobuyuki Teshima
(2)Cash Holdings and Stock Price Reactions to Exogenous Shocks: Comparison with Commitment Lines
  • Presenter
  • Mitsubishi Economic Research Institute
  • Naoshi Ikeda
  • Keio University
  • Shintaro Tomita
  • Discussant
  • University of Marketing and Distribution Sciences
  • Shimon Fukuda
(3)Structure of Bank Loan Debt: Evidence from Newly Listed Firms in Japan
  • Presenter
  • Nagasaki University
  • Masayo Shikimi
  • Discussant
  • Waseda University
  • Yoshiaki Ogura
F (Room 28)
Session: Regional Banking and Risk Sharing
  • Chair
  • Hitotsubashi University
  • Hisashi Nakamura
(1)Social Media and Regional Financial Institutions
  • Presenter
  • Ibaraki University
  • Satoshi Uchida
  • Discussant
  • Kanagawa University
  • Takashi Kazusaka
(2)Bank Competition and Local Employment in Japan: A Causal Link
  • Presenter
  • Waseda University
  • Masanori Ohkuma
  • Discussant
  • Development Bank of Japan
  • Daisuke Miyakawa
(3)Optimal Risk Sharing in the Presence of Moral Hazard under Market Risk and Jump Risk
  • Presenter
  • Hitotsubashi University
  • Takashi Misumi
  • Hitotsubashi University
  • Hisashi Nakamura
  • Hitotsubashi University
  • Koichiro Takaoka
  • Discussant
  • Aoyama Gakuin University
  • Hirotaka Fushiya

<15:40-16:40> Invited Lecture Ⅰ

G (Kanematsu Auditorium)
  • Chair
  • Hitotsubashi University
  • Yukinobu Kitamura
  • Speaker
  • IDEI, Université Toulouse 1
  • Jean Tirole
What Future for the Eurozone Governance?

<16:50-17:30> General Meeting
G (Kanematsu Auditorium)

<18:00-20:00> Reception
7th Floor of Mercury Tower, Kunitachi East Campus

Sunday, May 26th

<9:00- > Registration: 1st Floor of the Main Building, Kunitachi West Campus

<9:30-11:30>

B (Room 36)
Session: Macroeconomic Analyses
  • Chair
  • Senshu University
  • Hidehiko Ishihara
(1)Macro Financial Market and Risk Premium
  • Presenter
  • Waseda University
  • Yasuhiro Yonezawa
  • Sumitomo Mitsui Trust Bank, Limited
  • Kozo Omori
  • Discussant
  • Development Bank of Japan
  • Daisuke Miyakawa
(2)Non-regular Workers and the Stagnant Economy
  • Presenter
  • Ph.D. Student, Kobe University
  • Shingo Umino
  • Discussant
  • Tohoku University
  • Shin-Ichi Nishiyama
(3)Effects of Public Investment on Private Investment of Manufacturing Industries: a FAVAR Approach
  • Presenter
  • University of Marketing and Distribution Sciences
  • Masafumi Kozuka
  • Tokai University
  • Kazuki Hiraga
  • Fukuyama University
  • Takao Fujii
  • Discussant
  • Kobe University
  • Takashi Hatakeda
C (Room 38)
Session: Finance Related Fields -Revision of the Civil Code & Local Prices-
  • Chair
  • Tokyo Keizai University
  • Yukihiro Yasuda
(1)Revision of the Civil Code from the Viewpoint of Finance
  • Presenter
  • Yokohama National University
  • Masahiko Takahashi
  • Discussant
  • Kinki University
  • Yuichi Abiko
(2)Pairwise Tests of Convergence of Japanese Local Price Levels
  • Presenter
  • Surugadai University
  • Hidehiro Ikeno
  • Discussant
  • Aichi University
  • Yutaka Kurihara
D (Room 24)
Session: Finance in Asia
  • Chair
  • Kyoto University
  • Fumiharu Mieno
(1)Business Cycle Co-movement and Economic Integration in East Asia
  • Presenter
  • Ph.D. Student, Yokohama National University
  • Shajuan Zhang
  • Discussant
  • Toyo University
  • Kentaro Kawasaki
(2)Exchange Rate Appreciation and Export Price Competitiveness: Industry-Specific Real Effective Exchange Rates of Japan, Korea and China
  • Presenter
  • Yokohama National University
  • Kiyotaka Sato
  • Gakushuin University
  • Junko Shimizu
  • Yokohama National University
  • Nagendra Shrestha
  • Ph.D. Student, Yokohama National University
  • Shajuan Zhang
  • Discussant
  • Keio University
  • Naoyuki Yoshino
(3)Internationalization of the Renminbi and China's Capital Control
  • Presenter
  • The Bank of Tokyo-Mitsubishi UFJ, Ltd.
  • Yasuo Kunieda
  • Discussant
  • Ritsumeikan University
  • Yozo Nishimura
E (Room 26)
Session: New Topics of International Finance
  • Chair
  • University of Tokyo
  • Shin-ichi Fukuda
(1)Does Exchange Rate Volatility Deter Japan-China Trade? Evidence from the Pre- and Post-Exchange Rate Reform in China
  • Presenter
  • University of International Business and Economics
  • Yusaku Nishimura
  • Kwansei Gakuin University
  • Kenjiro Hirayama
  • Discussant
  • Seikei University
  • Masanori Ono
(2)Revisiting Big Mac Index
  • Presenter
  • Osaka University of Economics
  • Yukio Fukumoto
  • Discussant
  • Kobe City University of Foreign Studies
  • Taro Esaka
(3)Exchange Rate Risk Management of Japanese Firms: New Findings from Questionnaire Survey
  • Presenter
  • Gakushuin University
  • Junko Shimizu
  • University of Tokyo
  • Takatoshi Ito
  • Chuo University
  • Satoshi Koibuchi
  • Yokohama National University
  • Kiyotaka Sato
  • Discussant
  • Chuo University
  • Seiichi Nakajo
F (Room 28)
Session: Euro Economy
  • Chair
  • Kobe University
  • Kentaro Iwatsubo
(1)The Sustainability of the External Debts of the PIIGS Countries
  • Presenter
  • Sumitomo Mitsui Asset Management
  • Hideki Nishigaki
  • Discussant
  • Tokyo Keizai University
  • Masao Kumamoto
(2)The Euro Crisis and the Financial Regulation: A Viewpoint of a “Banking Union”
  • Presenter
  • Kanazawa University
  • Hideki Sato
  • Discussant
  • Kyushu University
  • Kenji Iwata
(3)A Fear of Euro Disintegration Caused by Financial Active Defaulting Zone – Target 2 Imbalances Issue
  • Presenter
  • Saga University
  • Shigeru Yonekura
  • Discussant
  • Fukuyama University
  • Harutoshi Oda

<11:30-12:50> Lunch

<12:50-13:50> Invited Lecture Ⅱ

G (Kanematsu Auditorium)
  • Chair
  • Hitotsubashi University
  • Eiji Ogawa
  • Speaker
  • Governor, Bank of Japan
  • Haruhiko Kuroda

<14:00-17:00>

G (Kanematsu Auditorium)
Symposium: Global Finance and Governance
  • Chair
  • Hitotsubashi University
  • Eiji Ogawa
(1)Sovereign Risk and Global Governance
  • Presenter
  • University of Tokyo
  • Takatoshi Ito
(2)Is Global Financial Reform Addressing the Right Issues?
  • Presenter
  • University of Tokyo
  • Tomoko Amaya
(3)The Subjects in One Reform of Accounting, Auditing and Governance
  • Presenter
  • Aoyama Gakuin University
  • Shinji Hatta
  • Discussant
  • Keio University
  • Mitsuhiro Fukao
  • Discussant
  • Japan Research Institute, Limited
  • Yuri Okina

Closing Remarks

Hitotsubashi University Eiji Ogawa


Program Committee

  • Takashi Misumi (Hitotsubashi University, Chair)
    Hidehiko Ishihara (Senshu University)
    Sanae Ohno (Musashi University)
    Eiji Ogawa (Hitotsubashi University)
    Yoshiaki Ogura (Waseda University)
    Kentaro Kawasaki (Toyo University)
    Masanori Sato (Reitaku University)
    Yosuke Takeda (Sophia University)
    Hisashi Nakamura (Hitotsubashi University)
    Hisashi Harui (Kwansei Gakuin University)
    Fumiharu Mieno (Kyoto University)
    Nobuyoshi Yamori (Nagoya University)
  • Kohei Aono (Ritsumeikan University)
    Kentaro Iwatsubo (Kobe University)
    Eiji Okano (Chiba Keizai University)
    Hidenobu Okuda (Hitotsubashi University)
    Arito Ono (Mizuho Research Institute)
    Yutaka Kurihara (Aichi University)
    Koichiro Takaoka (Hitotsubashi University)
    Yukitami Tsuji (Keio University)
    Kozo Harimaya (Ritsumeikan University)
    Shin-ichi Fukuda (University of Tokyo)
    Yukihiro Yasuda (Tokyo Keizai University)

Preparatory Committee (Hitotsubashi University)

  • Eiji Ogawa (Chair)
    Koichiro Takaoka
    Masaharu Hanazaki
  • Hidenobu Okuda
    Hideyuki Takamizawa
    Takashi Misumi
  • Yukinobu Kitamura
    Jun-ichi Nakamura
  • Masaru Konishi
    Hisashi Nakamura

Access to Kunitachi Campus, Hitotsubashi University

http://www.hit-u.ac.jp/eng/about/direction/index.html