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National Bureau of Economic Research

Center for Advanced Research in Finance

Center on Japanese Economy and Business

Australia-Japan Research Centre

Japan Project Meeting

Jennifer Corbett, Charles Horioka, Anil Kashyap, Kazuo Ueda, and David Weinstein, Organizers

June 29-30, 2012

Asian Development Bank Institute
Kasumigaseki Building 8F

3-2-5, Kasumigaseki, Chiyoda-ku

Tokyo 100-6008, Japan




Friday, June 29:

8:30 am


8:50 am

Welcome Remarks:  Dean Masahiro Kawai, Asian Development Bank Institute

9:00 am

Takeo Hoshi, University of California at San Diego and NBER
Takatoshi Ito, University of Tokyo and NBER
Defying Gravity: How Long Will Japanese Government Bond Prices Remain High?

Discussant:  Mitsuhiro Fukao, Keio University

10:00 am


10:30 am

Iichiro Uesugi, Hitotsubashi University
Kaoru Hosono, Gakushuin University
Daisuke Miyakawa, Development Bank of Japan
Arito Ono, Mizuho Research Institute
Hirofumi Uchida, Kobe University
Masami Hazama, Hitotsubashi University
Taisuke Uchino,
Daito Bunka University
Natural Disasters, Bank Lending and Firm Investment

Discussant:  Peter Schott, Yale University and NBER

11:30 am

David Cashin, University of Michigan
Takashi Unayama, Kobe University
Measuring Intertemporal Substitution: Evidence from a Consumption Tax Rate Increase in Japan

Discussant:  Kosuke Aoki, University of Tokyo

12:30 pm


Keynote Speaker:  Charles Lake, Chairman of Aflac Japan
21st Century International Rules on State-Owned Enterprises: Insurance as a Case Study

2:00 pm

Yasushi Hamao, University of Southern California
Kenji Kutsuna, Kobe University
Joe Peek, Federal Reserve Bank of Boston
Nice to be on the A-List

Discussant:  Amit Seru, University of Chicago and NBER

3:00 pm


3:30 pm

Julian Franks, London Business School
Colin Mayer, University of Oxford
Hideaki Miyajima, Waseda University
The Ownership of Japanese Corporations in the 20th Century

Discussant:  Douglas Diamond, University of Chicago and NBER

4:30 pm

Panel Discussion:  The Electric Power Crisis in Japan

Moderated by:  David Weinstein, Columbia University and NBER
Panelists:  Makoto Saito, Hitotsubashi University
Tatsuo Hatta,
Gakushuin University and Osaka University
Hiroshi Takahashi, Fujitsu Research Institute

6:00 pm


6:30 pm

Group Dinner
Hibiki Restaurant
2nd floor, Akasaka Inter-City building
1-11-44 Akasaka, Minato-ku, Tokyo

Telephone: 0120-77-6368


Saturday, June 30:

8:30 am


9:00 am

Douglas Skinner, University of Chicago
Kazuo Kato, Osaka University of Economics
Meng Li, University of Chicago
Is Japan Really a “Buy”? The Corporate Governance, Cash Holdings, and Economic Performance of Japanese Companies

Discussant:  Julian Franks, London Business School

10:00 am


10:30 am

Daiji Kawaguchi, Hitotsubashi University
Soohyung Lee, University of Maryland
Brides for Sale: Cross-Border Marriages and Female Immigration

Discussant:  Lena Edlund, Columbia University and NBER

11:30 am

Ryo Kambayashi, Hitotsubashi University
Takao Kato, Colgate University
Trends in Long-Term Employment and Job Security in Japan and the United States: The Last Twenty-Five Years

Discussant:  Deborah Cobb-Clark, University of Melbourne

12:30 pm

Lunch and Adjourn

We are very grateful to the Asian Development Bank Institute and to Miki Futagawa of the European Institute of Japanese Studies for their generous assistance and support.

Participants will be staying at the:
ANA InterContinental Hotel Tokyo

(15-minute walk from ADBI)



Please note that cool biz attire (business casual) is strongly encouraged.



ESRI-NBER Joint Seminar Agenda