National Bureau of Economic Research

Center for Advanced Research in Finance

Center on Japanese Economy and Business

European Institute of Japanese Studies

Australia-Japan Research Centre

JAPAN PROJECT MEETING

Magnus Blomstrom, Jennifer Corbett, Fumio Hayashi, Charles Horioka, Anil Kashyap, and

David Weinstein, Organizers

September 15-16, 2006

Hotel Okura

Maple Room (2nd Floor, South Wing)

2-10-4 Toranomon, Minato-ku

Tokyo 105-8416, Japan

PROGRAM

FRIDAY, SEPTEMBER 15:
8:30 am	Continental Breakfast
	Chair: ANIL KASHYAP, University of Chicago and NBER
9:00 am	MITSURU IWAMURA, Waseda University
	SHIGENORI SHIRATSUKA, Bank of Japan
	TSUTOMU WATANABE, Hitotsubashi University
	Massive Money Injection in an Economy with Broad Liquidity Services: The Japanese Experience 2001-2006
	Discussant: JOHN TAYLOR, Stanford University and NBER COMMENTS
10:00 am	Coffee Break
	Chair: MAGNUS BLOMSTROM, Stockholm School of Economics and NBER
10:30 am	ZEKERIYA ESER and JOE PEEK, University of Kentucky
	Reciprocity and Network Coordination: Evidence from Japanese Banks
	Discussant: TIMO HENCKEL, Australian National University COMMENTS
11:30 am	SHIGEO HIRANO, Columbia University
	Do Individual Representatives Influence Government Transfers? Evidence from Japan
	Discussant: HENRY FARBER, Princeton University and NBER COMMENTS
12:30 pm	Lunch
	Chair: DAVID WEINSTEIN, Columbia University and NBER
	Speaker: ANNE KRUEGER, International Monetary Fund and NBER SPEECH
	Chair: ARI KOKKO, European Institute of Japanese Studies
2:30 pm	KOJI SAKAI, Hitotsubashi University
	IICHIRO UESUGI, RIETI
	GUY YAMASHIRO, California State University
	Effectiveness of Credit Guarantees in the Japanese Loan Market
	Discussant: DOUGLAS DIAMOND, University of Chicago and NBER COMMENTS
3:30 pm	Coffee Break
	Chair: JENNIFER CORBETT, Australia-Japan Research Centre, ANU
4:00 pm	HIROSHI FUJIKI, Bank of Japan
	ETSURO SHIOJI, Hitotsubashi University
	Bank Health Concerns, Low Interest Rates and Money Demand:
	Evidence from the Public Opinion Survey on Household Financial Assets and Liabilities
	Discussant: KAZUO OGAWA, Osaka University COMMENTS
5:00 pm	Adjourn
6:30 pm	Reception (cocktails and hors d’oeuvres)
	Swedish Embassy
	1-10-3-100 Roppongi
	Minato-ku, Tokyo
SATURDAY, SEPTEMBER 16:
8:30 am	Continental Breakfast
	Chair: FUMIO HAYASHI, University of Tokyo and NBER
9:00 am	GAUTI EGGERTSSON, Federal Reserve Bank of New York
	A Tale of Two Countries: Fiscal Multipliers and Policy Coordination
	Discussant: KENNETH WEST, University of Wisconsin and NBER COMMENTS
10:00 am	Coffee Break
	Chair: CHARLES HORIOKA, Osaka University and NBER
10:30 am	ARATA ITO and TSUTOMU WATANABE, Hitotsubashi University
	TOMOYOSHI YABU, Bank of Japan
	Fiscal Policy Switching: Evidence from Japan, US, and UK
	Discussant: MATTHEW SHAPIRO, University of Michigan and NBER COMMENTS
11:30 am	KEIICHIRO KOBAYASHI, RIETI
	MASARU INABA, University of Tokyo
	Business Cycle Accounting for the Japanese Economy
	Discussant: JULEN ESTEBAN-PRETEL, University of Tokyo COMMENTS
12:30 pm	Adjourn
9/12/06