HIAS, IER and AJRC Joint Workshop “Frontiers in Macroeconomics and Macroeconometrics”

Information

Date :
3-4 November 2017 Hitotsubashi University Asia/Tokyo timezone

Venue:
Hitotsubashi University
Mercury Tower, 7F-Conference Room – Mercury Tower Conference Room
2-1, Naka, Kunitachi, Tokyo 186-8601 JAPAN
Go to map

Hosting Institutes:
Hitotsubashi Institute for Advanced Study, Hitotsubashi University
Grants-in-Aid for Scientific Research A (No. 17H00985)

Organizers:
Toshiaki Watanabe (Hitotsubashi University)
Tatsuyoshi Okimoto (Australian National University)

During the event, we will be taking photos as part of effort to promote the activities of HIAS. Photos may be disclosed to the public through web site, leaflet, and other media. We appreciate your understanding on this matter. Eduroam is available in the session room.

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Program

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

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

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-choJR 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 AirportNarita 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

FromStation

3.Venue(campus map)

CampusMap

Timetable of bus from Haneda Int. Airport

Entire Map Including the Venue and International Airports in Tokyo Area

MapForEntireArea

Accommodation

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.