Program

November 3, 2017

• 09:00 → 09:25（25m）
  Registration
  Mercury Tower, 7F-Hall – Mercury Tower Hall
  Hitotsubashi University
• 09:25 → 09:30
  Opening
  Mercury Tower, 7F-Conference Room – Mercury Tower Conference Room
  Hitotsubashi University
  2-1, Naka, Kunitachi, Tokyo 186-8601 JAPAN
  • 09:25（5m）
    Opening Remarks
    Speaker: Toshiaki Watanabe (Hitotsubashi University)
• 09:30 → 11:30
  Exchange Rates and Global Economy
  Chair: Yohei Yamamoto (Hitotsubashi University)
  Mercury Tower, 7F-Conference Room – Mercury Tower Conference Room
  Hitotsubashi University
  2-1, Naka, Kunitachi, Tokyo 186-8601 JAPAN
  • 09:30（40m）
    Some Global Effects of President Trump’s Economic Program
    Co-author: Andrew Stoeckel (Australian National University)
    Speaker: Warwick McKibbin (Australian National University)
  • 10:10（40m）
    Accumulation of Foreign Currency Reserves and Risk Taking
    Co-author: James Yetman (Bank for International Settlements)
    Speaker: Rasmus Fatum (University of Alberta / Federal Reserve Bank of Dallas)
  • 10:50（40m）
    Exchange Rates and Fundamentals: A General Equilibrium Exploration
    Speaker: Takashi Kano (Hitotsubashi University)
• 11:30 → 13:00（1h 30m）
  Luncheon Meeting of Committee Members
  Closed Session
  Mercury Tower, 7F-Hall – Mercury Tower Hall
  Hitotsubashi University
• 13:00 → 14:20
  Macroeconomic Models
  Chair: Pablo A. Guerron-Quintana (Boston College)
  Mercury Tower, 7F-Conference Room – Mercury Tower Conference Room
  Hitotsubashi University
  2-1, Naka, Kunitachi, Tokyo 186-8601 JAPAN
  • 13:00（40m）
    Cyclical Part-time Employment in an Estimated New Keynesian Model with Search Frictions
    Co-authors: Toshihiko Mukoyama (University of Virginia / Georgetown University) and Kazuhiro Teramoto (New York University)
    Speaker: Mototsugu Shintani (University of Tokyo)
  • 13:40（40m）
    Recurrent Bubbles, Economic Fluctuations, and Growth
    Co-authors: Pablo A. Guerron-Quintana (Boston College) and Tomohiro Hirano (University of Tokyo)
    Speaker: Ryo Jinnai (Hitotsubashi University)
• 14:20 → 14:30（10m）
  Afternoon Break I
  Mercury Tower, 7F-Hall – Mercury Tower Hall
  Hitotsubashi University
• 14:30 → 15:50
  Uncertainty
  Chair: Ippei Fujiwara (Keio University / Australian National University)
  Mercury Tower, 7F-Conference Room – Mercury Tower Conference Room
  Hitotsubashi University
  2-1, Naka, Kunitachi, Tokyo 186-8601 JAPAN
  • 14:30（40m）
    Uncertainty-driven Comovements in Booms and Busts: A Structural Interpretation
    Co-authors: Giovanni Caggiano (Monash University / University of Padova) and Giovanni Pellegrino (University of Melbourne)
    Speaker: Efrem Castelnuovo (Monash University / University of Padova)
  • 15:10（40m）
    Time-Dependent Finance-Uncertainty Multipliers
    Co-authors: Efrem Castelnuovo (University of Melbourne / University of Padova), Silvia Delrio (Ifo Institute Munich) and Tim Robinson (University of Melbourne)
    Speaker: Giovanni Caggiano (Monash University / University of Padova)
• 15:50 → 16:00（10m）
  Afternoon Break II
  Mercury Tower, 7F-Hall – Mercury Tower Hall
  Hitotsubashi University
• 16:00 → 17:20
  Bond Markets
  Chair: Etsuro Shioji (Hitotsubashi University)
  Mercury Tower, 7F-Conference Room – Mercury Tower Conference Room
  Hitotsubashi University
  2-1, Naka, Kunitachi, Tokyo 186-8601 JAPAN
  • 16:00（40m）
    Market Segmentation and Limit to Arbitrage under Negative Interest Rate: Evidence from Bank of Japan’s QQE
    Speaker: Takahiro Hattori (Hitotsubashi University / Ministry of Finance Japan)
  • 16:40（40m）
    Effects of Corporate and Government Bond Purchases on Credit Spreads and Their Transmission Mechanism: The Case of Japan
    Co-author: Kenji Suganuma (Bank of Japan)
    Speaker: Yoichi Ueno (Bank of Japan)
• 17:40 → 19:10（1h 30m）
  Reception
  Mercury Tower, 7F-Hall – Mercury Tower Hall
  Hitotsubashi University

November 4, 2017

• 09:00 → 09:30（30m）
  Registration
  Sano Shoin, 1F-Conference Room – Sano Shoin Hall
  Hitotsubashi University
• 09:30 → 11:30
  Economic Policy
  Chair: Tatsuyoshi Okimoto (Australian National University)
  Mercury Tower, 7F-Conference Room – Mercury Tower Conference Room
  Hitotsubashi University
  2-1, Naka, Kunitachi, Tokyo 186-8601 JAPAN
  • 09:30（40m）
    The Dark Side of Low Interest Rates
    Co-author: Keith Kuester (University of Bonn)
    Speaker: Pablo A. Guerron-Quintana (Boston College)
  • 10:10（40m）
    The Effects of Fiscal Policy Shock under the Zero Lower Bound
    Speaker: Hiroshi Morita (Hosei University)
  • 10:50（40m）
    Fiscal Confidence Shocks and the Market for the Japanese Government Bonds
    Speaker: Etsuro Shioji (Hitotsubashi University)
• 11:30 → 13:00（1h 30m）
  Luncheon Meeting of Committee Members
  Closed Session
  Sano Shoin, 1F-Conference Room – Sano Shoin Hall
  Hitotsubashi University
• 13:00 → 15:00
  Financial Market
  Chair: Toshiaki Watanabe (Hitotsubashi University)
  Mercury Tower, 7F-Conference Room – Mercury Tower Conference Room
  Hitotsubashi University
  2-1, Naka, Kunitachi, Tokyo 186-8601 JAPAN
  • 13:00（40m）
    Measuring Financial Interdependence in Asset Returns with an Application to Eurozone Equity Markets
    Co-authors: Cody Yu-Ling Hsiao (Macau University of Science and Technology / CAMA) and Vance L. Martin (University of Melbourne)
    Speaker: Renée Fry-McKibbin (Australian National University / CAMA)
  • 13:40（40m）
    Towards a General Equilibrium Foundation for the Observed Haircut Term Structure and Design in Sovereign Bonds
    Speaker: Kenji Wada (Hitotsubashi University)
  • 14:20（40m）
    Prior Beliefs, Noise Trading and Estimation of Importance of Each Investment Type
    Speaker: Jae-Young Kim (Seoul National University / Hitotsubashi University)
• 15:00 → 15:15（15m）
  Afternoon Break
  Mercury Tower, 7F-Hall – Mercury Tower Hall
  Hitotsubashi University
• 15:15 → 16:35
  Large Multivariate Models
  Chair: Yasuhiro Omori (University of Tokyo)
  Mercury Tower, 7F-Conference Room – Mercury Tower Conference Room
  Hitotsubashi University
  2-1, Naka, Kunitachi, Tokyo 186-8601 JAPAN
  • 15:15（40m）
    Reducing Dimensions in a Large TVP-VAR
    Co-authors: Joshua C.C. Chan (University of Technology, Sydney) and Eric Eisenstat (University of Queensland)
    Speaker: Rodney W. Strachan (University of Queensland)
  • 15:55（40m）
    Estimating and Accounting for the Output Gap with Large Bayesian Vector Autoregressions
    Co-author: Benjamin Wong (Reserve Bank of New Zealand)
    Speaker: James Morley (University of Sydney)
• 16:35 → 16:40
  Closing
  Mercury Tower, 7F-Conference Room – Mercury Tower Conference Room
  Hitotsubashi University
  2-1, Naka, Kunitachi, Tokyo 186-8601 JAPAN
  • 16:35（5m）
    Closing Remarks
    Speaker: Tatsuyoshi Okimoto (Australian National University)

Important Dates for Speakers

Organizing committee would like to as the speakers to submit followings to the organizer.

• abstract                  by Saturady 30 September 2017
• slides and full paper     by Tuesday 31 October 2017

A presentation laptop will be provided in the session room. Please don’t bring your own PC in order to reduce the time used for the connection.

Directions to the Venue

The closest station to the venue is JR Kunitachi st.
entire map including the venue and the international airports in Tokyo area

1. From International Airport to Kunitachi st.
   a) From Haneda Int. Airport
   b) From Narita Int. Airport
2. From Kunitachi st. to the Campus
3. Venue (campus map)

1.From International Airport to Kunitachi st.
a) From Haneda Int. Airport
By Highway Bus
Haneda International Airport Bld. — Tachikawa bus (~ 100 min, 1,550 JPY) –> Tachikawa st. — JR Chuo Line (~ 3 min, 140 JPY) –> Kunitachi st.

Bus is not running so frequently(timetable).
Arrival time largely depends on the degree of congestion.
Purchase your bus ticket at bus ticket counters. Destination is “Tachikawa”.

By Train
Haneda International Airport Bld. — Tokyo Monorail (~ 20 min) –> Hamamatsu-cho — JR Yamanote Line (~ 10 min) –> Tokyo st. — JR Chuo Line (~ 50 min) –> Kunitachi st.

There are many routes. Just one example is shown here.
It will take about 90 min in total including time to change trains. The total price is 1,210 JPY for this route.
Be careful of English announcement in a train from Tokyo, because some trains pass by Kunitachi st. In that case, transfer at Kokubunji st., which is 2 stations before of Kunitachi st.

b) From Narita Int. Airport
By Highway Bus
Narita International Airport — limousine bus (from 130 to 180 min, 3,600 JPY) –> Tachikawa st. — JR Chuo Line (~ 3 min, 140 JPY) –> Kunitachi st.

Bus is not running so frequently(timetable).
Arrival time largely depends on the degree of congestion.
Purchase your bus ticket at bus ticket counters (Please look at bottom area of the page). Destination is “Tachikawa”.

By Train
Narita International Airport — Narita Express(~ 90 min) –> Shinjuku st. — JR Chuo Line (~ 40 min) –> Kunitachi st.

There are many routes. Just one example is shown here. The total price is 4,290 JPY for this route.
All seats are reserved for Narita Express (N’EX).
Be careful of English announcement in a train from Shinjuku, because some trains pass by Kunitachi st. In that case, transfer at Kokubunji st., which is 2 stations before of Kunitachi st.

2.From Kunitachi st. to the Campus

3.Venue(campus map)

Timetable of bus from Haneda Int. Airport

Entire Map Including the Venue and International Airports in Tokyo Area

Accommodation

Palace Hotel Tachikawa
home page

access

• The closest station to the hotel is JR Tachikawa st.
• For more precise information about a highway bus from international airports, please look at the item “By Highway Bus“, and alight the bus at “Palace Hotel Tachikawa”.
• If you would like to take a train from international airports, please look at the item “By Train“, and take Chuo Line to Tachikawa st, which is one station away from Kunitachi st.

From the accommodation to the venue
Palace Hotel Tachikawa — 6 min walk –> Tachikawa st. — JR Chuo Line (~ 3min, 140 JPY) –> Kunitachi st. — 10 min walk –> Venue
Please also refer to “Directions to the Venue” from Kunitachi st. to the venue.