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)