The program of the 2014 Autumn Annual Meeting

THE JAPAN SOCIETY OF MONETARY ECONOMICS
2014 Autumn Annual Meeting Program

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< - > Registration: 1st Floor of Main Building of General Education

< - > Presidential Address

1st Hall of General Education
  • Speaker
  • Hitotsubashi University
  • Eiji Ogawa

< - >

2nd Hall of General Education

Panel Session: Reconstruction Finance
Status-quo and the issues pertaining to the earthquake insurance system in Japan
  • Chair
  • Tohoku University
  • Shinichi Nishiyama
(1)A possible security system against large-scale natural disasters and risk exchange markets
  • Presenter
  • Ritsumeikan University
  • Takashi Ohgaki
(2)What kind of firms are purchasing earthquake insurance?: An evidence from the survey of small manufacturing firms
  • Presenter
  • Meiji University
  • Yoshihiro Asai
(3)Overview and the issues of the Earthquake Insurance System
  • Presenter
  • The General Insurance Association of Japan
  • Atsuhiro TAKEUCHI
  • Discussant
  • Tohoku University
  • Shinichi Nishiyama
  • Discussant
  • Tohoku Fukushi University
  • Osamu Kamoike

< - >

15th Room of General Education

Session: Monetary Policy 1
  • Chair
  • Doshisha University
  • Shinichi Kitasaka
(1)Liquidity effects and international effects of the zero lower bound on nominal interest rates
  • Presenter
  • Kobe University
  • Kohei Hasui
  • Discussant
  • Nagoya City University
  • Eiji Okano
(2)Determinacy condition under optimal monetary policy with the information from the Taylor rule
  • Presenter
  • St. Andrew's University
  • Daisuke Ida
  • Discussant
  • Keio University
  • Yasuo Hirose
(3)Inflation Stabilization and Default Risk in a Currency Union
  • Presenter
  • Nagoya City University
  • Eiji Okano
  • Discussant
  • Komazawa University
  • Masataka Eguchi

14th Room of General Education

Session: Asian Finance
  • Chair
  • Kyushu University
  • Kenji Iwata
(1)The effect of ownership on the risk taking of Chinese firms
  • Presenter
  • East China Normal University
  • Yuan Yuan
  • Japan Maritime Center
  • Takuma Matsuda
  • Gakushuin University
  • Tomohiko Inui
  • Discussant
  • Tokyo Keizai University
  • Yukihiro Yasuda
(2)Trade Credit in China: Panel Evidence-based on the Survey of Industrial Enterprises
  • Presenter
  • Kobe University
  • Yajng Liu
  • Discussant
  • Hitotsubashi University
  • Iichiro Uesugi
(3)Effects of the Vietnamese Government’s Institutional Reforms on Companies’ Capital Structure and Profitability: Before and After the Lehman Shock
  • Presenter
  • Hitotsubashi University
  • Hidenobu Okuda
  • Hitotsubashi University
  • Lai Thi Phuong Nhung
  • Discussant
  • Kyushu University
  • Taku Hiramatsu

13th Room of General Education

Session: Euro Area
  • Chair
  • Kansai University
  • Sadayoshi Takaya
(1)Financial markets in Central and Eastern European countries and their role in transmission of domestic and foreign monetary shocks
  • Presenter
  • Kobe University
  • Agata Wierzbowska
  • Discussant
  • Ryukoku University
  • Krawczyk Mariusz Konrad
(2)Implications of austerity measures taken by Latvia
  • Presenter
  • Bunkyo Gakuin University
  • Naoyoshi Kinukawa
  • Discussant
  • Toyo University
  • Yuji Kawano
(3)European Banking Union accompanied with a great risk
  • Presenter
  • Saga University
  • Shigeru Yonekura
  • Discussant
  • Kanazawa University
  • Hideki Sato

12th Room of General Education

Session: Central Bank
  • Chair
  • Okinawa International University
  • Naoya Ikemiyagi
(1)Adding a Macro-prudential Perspective to Central Banks' Monetary Policies
  • Presenter
  • Toyo University
  • Yasuyoshi Masuda
  • Discussant
  • Doshisha University
  • Toshihiko Marumo
(2)The Effect of Recognition Lag
  • Presenter
  • Nihon University
  • Yasuyuki Komaki
  • Discussant
  • Kobe University
  • Toshiki Jinushi

11th Room of General Education

Session: Banking and Finance
  • Chair
  • Hitotsubashi University
  • Takashi Misumi
(1)Non-performing loan and cost efficiency in Japanese banking
  • Presenter
  • Doshisha University
  • Eriko Naiki
  • Discussant
  • Ritsumeikan University
  • Kozo Harimaya
(2)An Empirical Study of New Borrowers of JFC Small and Medium Enterprise (SME) Unit in a Time Period including the Collapse of Lehman Brothers
  • Presenter
  • Japan Finance Corporation Research Institute
  • Isao Morioka
  • Discussant
  • Kagoshima University
  • Kunikazu Nagata
(3)On Financial Intermediation of High Frequency Trading ~ An Analysis of Weir and its Functioning ~
  • Presenter
  • Gakushuin University
  • Ken-ichi Tatsumi
  • Discussant
  • Nagasaki University
  • Masayuki Susai

< - > Lunch

< - >

2nd Hall of General Education

Panel Session: International Finance
Japanese Banks in Asia
  • Chair
  • Kobe University
  • Nobuyoshi Yamori
(1)Business Expansion to Asia, A Case of Yamaguchi Bank : Progress and Challenges
  • Presenter
  • Yamaguchi Bank, President
  • Koichi Fukuda
(2)Activities of Japanese Banks in Asia: Progress and Challenges
  • Presenter
  • Kobe University
  • Kentaro Iwatsubo
(3)The Second Internationalization of Japanese Regional Banks
  • Presenter
  • Tohoku Gakuin University
  • Masashi Igakura
  • Discussant
  • University of Tokyo
  • Toshiro Nishizawa
  • Discussant
  • Yamagata University
  • Masaki Yamaguchi

< - >

15th Room of General Education

Session: Monetary Policy 2
  • Chair
  • Keio University
  • Kazuhito Ikeo
(1)Re-evaluation for the Japanese Quantitative Easing Policy(2001-2006)
  • Presenter
  • Kobe University
  • Hiroyuki Ijiri
  • Discussant
  • Ritsumeikan University
  • Hideaki Ohta
(2)The Cointegration Analysis of the Long-term Bond Rates in Japan under the Zero Lower Bound Problem
  • Presenter
  • Osaka Sangyo University
  • Shohei Ishibashi
  • Discussant
  • Chukyo University
  • Kunihiro Hanabusa
(3)Comparing Japanese Monetary Policy Effects between the Low Interest Rate and the Normal Periods
  • Presenter
  • Osaka Prefecture University
  • Minoru Tachibana
  • Discussant
  • Kwansei Gakuin University
  • Atsushi Tanaka

14th Room of General Education

Session: International Capital Movements
  • Chair
  • Tohoku Fukushi University
  • Osamu Kamogawa
(1)International Capital Flows to the U.S. and Interest Rates
  • Presenter
  • Keio University
  • Satoshi Tobe
  • Discussant
  • Meiji Gakuin University
  • Yuri Sasaki
(2)Factors causing capital flows in emerging economies
  • Presenter
  • Kinki University
  • Takeshi Hoshikawa
  • Kyoto Sangyo University
  • Masahiro Inoguchi
  • Discussant
  • Meisei University
  • Hayato Nakata
(3)A Comparison between Optimal Capital Controls under Fixed Exchange Rates and Optimal Monetary Policy under Flexible Rates
  • Presenter
  • Kobe University
  • Shigeto Kitano
  • Aichi Shukutoku University
  • Kenya Takaku
  • Discussant
  • Sophia University
  • Yosuke Takeda

13th Room of General Education

Session: Financial History
  • Chair
  • Kansai University
  • Yuichi Kanai
(1)The Bank of Japan's Loans Secured by Government Bonds in Historical Perspectives
  • Presenter
  • Bank of Japan
  • Yasuko Morita
  • Discussant
  • Keio University
  • Eisaku Ide
(2)The Early Eurodollar Market and BOLSA
  • Presenter
  • Tohoku University
  • Ayumu Sugawara
  • Discussant
  • Yamaguchi University
  • Daisuke Koga
(3)Exchange Banks in Japan: Their Historical Significance and Roles
  • Presenter
  • Doshisha University
  • Yoshiaki Shikano
  • Discussant
  • Hosei University
  • Masayoshi Tsurumi

12th Room of General Education

Session: Financial Markets
  • Chair
  • Hiroshima University
  • Takashi Senda
(1)A New Solution to the Equity Premium Puzzle and the Risk-Free Rate Puzzle: Theory and Evidence
  • Presenter
  • Kobe University
  • Hideaki Tamura
  • Kobe University
  • Yoichi Matsubayashi
  • Discussant
  • University of Marketing and Distribution Sciences
  • Tatsuya Morisawa
(2)Monetary Policy and Real Estate Price
  • Presenter
  • The Land Institute of Japan
  • Toshiyuki Okoshi
  • Discussant
  • Doshisha University
  • Shinichi Kitasaka
(3)The Role of Options Market in Discovering Risk during the Subprime Crisis
  • Presenter
  • Bank of Japan
  • Yoichi Otsubo
  • University of Luxembourg
  • Theoharry Grammatikos
  • University of Luxembourg
  • Thorsten Lehnert
  • Discussant
  • Hiroshima University
  • Akiko Yamane

11th Room of General Education

Session: Corporate Finance
  • Chair
  • Tokyo Keizai University
  • Yukihiro Yasuda
(1)Zombie SMEs and Productivity
  • Presenter
  • Osaka University
  • Kentaro Imai
  • Discussant
  • Yamaguchi University
  • Takashi Hyodo
(2)The Change of Bank Lending Attitude and Corporate Behavior
  • Presenter
  • Hitotsubashi University
  • Hiromichi Iwaki
  • Discussant
  • Chuo University
  • Satoshi Koibuchi
(3)Marginal q and Firms’ Capital Investments: Evidence from Time Series Data of Japanese Manufacturing Industries
  • Presenter
  • University of Marketing and Distribution Sciences
  • Masafumi Kozuka
  • Discussant
  • Tokyo Keizai University
  • Masaya Ishikawa

< - > Invited Lecure

1st Hall of General Education

“Japanese Economy and Monetary Policy”
  • Chair
  • Kobe University
  • Toshiki Jinushi
  • Speaker
  • Bank of Japan, Member of the Policy Board
  • Ryuzo Miyao

< - > General Meeting

1st Hall of General Education

< - > Reception

Cafeteria II , Yoshida Campus

< - >

2nd Hall of General Education

Panel Session: Financial History
Free Banking in Asia in a Historical Perspective
  • Chair
  • Reitaku University
  • Masanori Sato
(1)The Emergence and Evolution of the National Banking System in Japan: A Comparison with the National Banking System in the United States
  • Presenter
  • Waseda University
  • Masato Shizume
  • Hosei University
  • Masayoshi Tsurumi
(2)Free banking in China: 1921-1935
  • Presenter
  • Keio University
  • Hiroaki Morota
(3)The Activities of the Hongkong and Shanghai Banking Corporation in Bangkok, 1888-1902
  • Presenter
  • Kansai University
  • Takeshi Nishimura
  • Discussant
  • Kansai University
  • Sadayoshi Takaya
  • Discussant
  • Sapporo Gakuin University
  • Masashi Kitabayashi

< - >

15th Room of General Education

Session: Life Planning and Personal Finance
  • Chair
  • Hiroshima University
  • Junji Yano
(1)Does Myopic Thinking Affect the Choice of Childbirth and Marriage?
  • Presenter
  • Tokyo University of Social Welfare
  • Yoshiaki Tsuchimura
  • Tokyo University of Social Welfare
  • Nobuhiro Hobara
  • Discussant
  • Konan University
  • Yoshiro Tsutsui
(2)Rising needs for education financing and its responses by financial institutions
  • Presenter
  • Nomura Institute of Capital Markets Research
  • Sachiko Miyamoto
  • Discussant
  • Seijo University
  • Tsutomu Muramoto
(3)Effects of Pay-As-You-Go Pension on Capital Accumulation, Welfare and Inequality
  • Presenter
  • Kobe University of Foreign Studies
  • Takao Fujii
  • Fukuyama University
  • Jun Iritani
  • Discussant
  • Yamaguchi University
  • Hisasi Kojima

14th Room of General Education

Session: Currency and Foreign Exchange
  • Chair
  • Doshisha University
  • Hirofumi Ueda
(1)FTA in International Finance: Impacts of Exchange Rates on FTA Utilization
  • Presenter
  • Nanzan University
  • Taiyo Yoshimi
  • Research Center, Institute of Developing Economies
  • Kazunobu Hayakawa
  • Ajou University
  • Han-Sung Kim
  • Discussant
  • Kyoto University
  • Takayuki Tsuruga
(2)Automobile Exports: Export Price and Retail Price
  • Presenter
  • Shiga University
  • Yushi Yoshida
  • Meiji TGakuin University
  • Yuri Sasaki
  • Discussant
  • Nanzan University
  • Taiyo Yoshimi
(3)2013 Survey on Invoice Currency and Currency Risk Management of Japanese Listed Manufacturers: Summary Results
  • Presenter
  • Chuo University
  • Satoshi Koibuchi
  • GRIPS
  • Takatoshi Ito
  • Yokohama National University
  • Kiyotaka Sato,
  • Gakushuin University
  • Junko Shimizu
  • Discussant
  • Chuo University
  • Hiroshi Fujiki

13th Room of General Education

Session: Corporate Finance and Corporate Governance
  • Chair
  • Tokyo Keizai University
  • Masao Kumamoto
(1)Leverage Maintenance and Maturity Structure
  • Presenter
  • Research Institute of Capital Formation,
  • Development Bank of Japan
  • Genichiro Okamoto
  • Discussant
  • Kobe University
  • Takashi Hatakeda
(2)Determinants of outside directors by Japanese regional banks
  • Presenter
  • Kyushu Kyoritsu University
  • Yuji Mori
  • Discussant
  • Kinki University
  • Toshiyuki Soma

12th Room of General Education

Session: Financial Issues in Abroad
  • Chair
  • Rissho University
  • Yasushi Hayashi
(1)Commodity spot trading in China
  • Presenter
  • Rissho University
  • Sainan Nie
  • Rissho University
  • Yasushi Hayashi
  • Discussant
  • Musashi University
  • Sanae Ohno
(2)Utilization of Complementary Currencies “UDIS” in dollarized Ecuador and El Salvador
  • Presenter
  • Tokai University
  • Naotoshi Kinoshita
  • Rissho University
  • Tetsuya Utashiro
  • Rissho University
  • Yasushi Hayashi
  • Discussant
  • Joetsu University of Education
  • Masayuki Yoshida
(3)Financial Crises and the U.S. Dollar as an International Currency
  • Presenter
  • North Asia University
  • Naoya Maeda
  • Discussant
  • University of Kitakyushu
  • Jun Maeda

11th Room of General Education

Session: Theory Analysis of Finance
  • Chair
  • University of Kitakyushu
  • Jun Maeda
(1)Social Sanctions and Group Lending
  • Presenter
  • NiijimaGakuen Junior College
  • Shinichi Matsuda
  • Discussant
  • Hitotsubashi University
  • Hidenobu Okuda
(2)Evidence of Perquisite and Capital Structure on Japanese Firms
  • Presenter
  • Bunkyo University
  • Makoto Suzuki
  • Discussant
  • Hosei University
  • Xu Peng

25th Room of General Education

Session: Open Macroeconomics
  • Chair
  • Kobe University
  • Seiichi Fujita
(1)Regional inflation, spatial locations and the Ballasa-Samuelson effect
  • Presentater
  • University of Tsukuba
  • Jun Nagayasu
  • Discussant
  • Surugadai University
  • Hidehiro Ikeno
(2)Do Faster Growing Economies Run Current Account Deficits? A Theoretical Reappraisal of the Role of Utility Functions
  • Presentater
  • Doshisha University
  • Shingo Iokibe
  • Discussant
  • Keio University
  • Masaya Sakuragawa

< - > Lunch

< - >

2nd Hall of General Education

Symposium: Financial Education in Local area
  • Chair
  • Asian Development Bank Institute Dean
  • Naoyuki Yoshino
(1)Efforts of financial education in Yamaguchi
  • Presenter
  • Bank of Japan, Shimonoseki Branch Manager
  • Junichi Suzuki
(2)Efforts for financial education by financial institutions in the Chugoku region and the Chugoku Local Finance Bureau
  • Presenter
  • Chugoku Local Finance Bureau, Chief of Bureau
  • Shuichi Sonoda
(3)The need for financial literacy education in Local areas
  • Presenter
  • Kobe University
  • Nobuyoshi Yamori
(4)Financial and Economic Education ? Current Situations and Issues In Local Areas
  • Presenter
  • Daiwa Institute of Research, Head of Reserch
  • Susumu Okano
  • Discussant
  • Prefectural University of Hiroshima
  • Keiko Murakami
  • Rissho University
  • Yasushi Hayashi

Program Committee

  • Takashi Hyodo (Yamaguchi University, Chair)
  • Eiji Ogawa (Hitotsubashi University)
  • Toshiki Jinushi (Kobe University)
  • Takashi Misumi (Hitotsubashi University)
  • Seiichi Fujita (Kobe University)
  • Kazuhito Ikeo(Keio University)
  • Kentaro Iwatsubo (Kobe University)
  • Masaya Sakuragawa (Keio University)
  • Nobuyoshi Yamori (Kobe University)
  • Yasushi Hayashi (Rissho University)
  • Shinichi Kitasaka (Doshisha University)
  • Masanori Sato (Reitaku University)
  • Hirofumi Ueda (Doshisha University)
  • Masao Kumamoto (Tokyo Keizai University)
  • Sadayoshi Takaya (Kansai University)
  • Yukihiro Yasuda (Tokyo Keizai University)
  • Junji Yano (Hiroshima University)
  • Osamu Kamoike (Tohoku Fukushi University)
  • Takashi Senda (Hiroshima University)
  • Shinichi Nishiyama (Tohoku University)
  • Jun Maeda (University of Kitakyushu)
  • Yuichi Kanai (Nagoya University)
  • Kenji Iwata (Kyushu University)
  • Yutaka Kurihara (Aichi University)
  • Naoya Ikemiyagi (Okinawa International University)

Executive Committee

  • Takashi Hyodo(Chair)
  • Daisuke Koga
  • Shugo Yamamoto