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

 

June 26-27, 2007

 

Hotel Okura Tokyo

Orchard Room

2-10-4 Toranomon, Minato-ku

Tokyo 105-8416, Japan

 

Program

 

Tuesday, June 26:

 

 

8:30 am

Breakfast/Registration

 

 

9:00 am

Dale Jorgenson, Harvard University

 

Koji Nomura, Keio University

 

The Industry Origins of the US-Japan Productivity Gap

 

 

 

Discussant:  James Harrigan, Federal Reserve Bank of New York and NBER 

 

 

 

 

10:00 am

Break

 

 

10:30 am

Linda Allen and Suparna Chakraborty, City University of New York

 

Revisiting the Level Playing Field:  Domestic and International Implications of the  Divergences in Japanese Bank Capital Requirements from the Basel Accord

 

 

 

Discussant:  Joe Peek, University of Kentucky

 

 

11:30 am

Jacob Bikker, De Nederlandsche Bank

 

Christoffer Kok-Sorensen, European Central Bank

 

Michiel van Leuvensteijn, CPB Netherlands Bureau for Economic Policy Analysis

 

Adrian van Rixtel, Banco de Espana

 

A New Approach to Measuring Competition in the Loan Markets of the Euro Area

 

 

 

Discussant:  Guy Debelle, Reserve Bank of Australia

 

 

12:30 pm

Lunch

 

 

 

Speaker:  Naohiro Yashiro, International Christian University and Prime Minister¬ís Council on Economic and Fiscal Policy

 

 

2:00 pm

Akira Otani, Shigenori Shiratsuka, and Takeshi Yamada, Bank of Japan

 

Distortions in Resource Allocation and Bank Lending: The Malfunction of Financial Intermediation

 

 

 

Discussant:  Nobuhiro Kiyotaki, Princeton University and NBER

 

 

3:00 pm

Break

 

 

3:30 pm

Rasmus Fatum, University of Alberta

 

Michael Hutchison, UC, Santa Cruz

 

Evaluating Foreign Exchange Market Intervention: Self-Selection, Counterfactuals and Average Treatment Effects

 

 

 

Discussant:  Kathryn Dominguez, University of Michigan and NBER

 

 

4:30 pm

Panel on Private Equity in Japan

 

Steven Davis, University of Chicago and NBER

 

Nobuo Matsuki, MKS Consulting

 

Alicia Ogawa, Columbia University 

 

Taisuke Sasanuma, Advantage Partners

 

Yo Takeuchi, Development Bank of Japan

 

 

6:00 pm

Adjourn

 

 

7:00 pm 

Reception 

 

Australian Embassy 

 

2-1-14 Mita, Minato-ku 

 

Tokyo 108-8361

 

 

 

 

Wednesday, June 27:

 

 

8:30 am

Breakfast

 

 

9:00 am 

Kazuki Onji, Australian National University

 

The Response of Firms to Eligibility Thresholds: Evidence from the Japanese Value-Added Tax

 

 

 

Discussant:  Mihir Desai, Harvard University and NBER  

 

 

10:00 am

Break

 

 

10:30 am

Yusaku Horiuchi, Australian National University

 

Jun Saito, Wesleyan University

 

Distributive Consequences of Unequal Participation

 

 

 

Discussant  Matthew Gentzkow, University of Chicago and NBER

 

 

11:30 am

Tsutomu Watanabe, Hitotsubashi University

 

Tomoyoshi Yabu, Bank of Japan

 

The Great Intervention and Massive Money Injection: The Japanese Experience 2003-2004

 

 

 

Discussant:  John Leahy, New York University and NBER

 

 

12:30 pm

Adjourn

 

 

 

 

 

 

6/21/07