East Asian Seminar on Economics

Takatoshi Ito and Andrew K. Rose, Organizers

June 5-6, 2023

FORMAT: Author presentation: 40 mins/ 2 discussants: 10 mins each/ Author response: 5 mins/ General Q&A: 15 mins.

Conference Code of Conduct

Monday, June 5

Map/Local Information
Topic: Foreign Exchange and Capital Flows
8:30 am
Continental Breakfast
9:00 am
Shang-Jin Wei, Columbia University and NBER

Estimating the Cost of Chinese Capital Market Distortions: A Willingness-to-Pay Approach
Discussants: Chun-Yen Wu, Chung-Hua Institution for Economic Research
Ilhyock Shim, Bank for International Settlements
10:20 am
Break
10:40 am
Qing Liu, Tsinghua University

Dual Approach for One Goal: The Internationalization of Renminbi during 2010-2021
Discussants: Junko Shimizu, Gakushuin University
Shang-Jin Wei, Columbia University and NBER
12:00 pm
Keynote Speaker: Stijn Claessens, Bank for International Settlements
1:30 pm
Junhyong Kim, Korea Development Institute
Annie Lee, Johns Hopkins University

Liability Dollarization and Exchange Rate Pass-Through (slides)
Discussants: Woo Jin Choi, University of Seoul
Charles Engel, University of Wisconsin-Madison and NBER
2:50 pm
Kenichi Ueda, University of Tokyo, CEPR, and TCER
Chanthol Hay, University of Tokyo

Empirical Evaluation of CBDC in Cambodia
Discussants: Piti Disyatat, Bank of Thailand
Barry Eichengreen, University of California, Berkeley and NBER
4:10 pm
Break
4:30 pm
Barry Eichengreen, University of California, Berkeley and NBER

The Danish Problem: How Denmark has Successfully Maintained a Currency Peg for 40 Years
Discussants: Kosuke Aoki, University of Tokyo
Etsuro Shioji, Hitotsubashi University and TCER
5:50 pm
Adjourn
7:00 pm
Dinner - Ginza Lion Kasumigaseki Common Gate
100-6080 Kasumigaseki 3-2-3, Kasumigaseki Common Gate Annex 2F (located across the street from ADBI)
Tuesday, June 6
8:30 am
Continental Breakfast
9:00 am
Charles Engel, University of Wisconsin-Madison and NBER
Michael Devereux, University of British Columbia and NBER
Steve Pak Yeung Wu, University of California-San Diego

Collateral Advantage: Exchange Rates, Capital Flows, and Global Cycles (slides)
Discussants: Qing Liu, Tsinghua University
John Beirne, Asian Development Bank Institute
10:20 am
Break
10:40 am
Yang K. Lu, Hong Kong University of Science and Technology
Bowen Qu, Hong Kong University of Science and Technology

The Signaling Effects of Sovereign Borrowing
Discussants: Benjamin Faber, University of California, Berkeley and NBER
Etsuro Shioji, Hitotsubashi University and TCER
12:00 pm
Keynote Speaker: Haruhiko Kuroda, Former Governor of the Bank of Japan
Slides
1:30 pm
Martin Berka, Massey University
Daan Steenkamp, South African Reserve Bank

Real Exchange Rate Levels in the OECD and their Structural Determinants
Discussants: Woo Jin Choi, University of Seoul
Shin-ichi Fukuda, University of Tokyo
2:50 pm
Ilhyock Shim, Bank for International Settlements
Boris Hofmann, Bank for International Settlements
Hyun Shin, Bank for International Settlements

Risk Capacity, Portfolio Choice and Exchange Rates
Discussants: John Beirne, Asian Development Bank Institute
Piti Disyatat, Bank of Thailand
4:10 pm
Break
4:30 pm
Anne O. Krueger, Johns Hopkins University and NBER

Debt and Debt Restructuring in the International Economy
Discussants: Chun-Yen Wu, Chung-Hua Institution for Economic Research
Takeo Hoshi, University of Tokyo
5:50 pm
Adjourn
6:30 pm
Dinner hosted by TCER
Japanese Restaurant Kacyo
7-16-7 Ginza, Chuo-ku, Tokyo



This seminar is sponsored by the NBER, ADBI, BIS HK, CAMA (Australia), CCER, CIER (Taiwan), HKUST, KDI, Singapore NUS Business School, TCER and Tsinghua University.
Emergency contact at ADBI: Eriko Sugawara
esugawara@adbi.org
P: +81 3 35935501