NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

PHILIPPINE INSTITUTE FOR DEVELOPMENT STUDIES

CHINA CENTER FOR ECONOMIC RESEARCH

CHUNG-HUA INSTITUTION FOR ECONOMIC RESEARCH

HONG KONG UNIVERSITY OF SCIENCE AND TECHNOLOGY

KOREA DEVELOPMENT INSTITUTE

PRODUCTIVITY COMMISSION, AUSTRALIA

SINGAPORE MANAGEMENT UNIVERSITY

TOKYO CENTER FOR ECONOMIC RESEARCH

16th Annual East Asian Seminar on Economics

Fiscal Policy and Management

Takatoshi Ito and Andrew Rose, Organizers

June 23-25, 2005

Westin Philippine Plaza Hotel

CCP Complex, Pasay City

Metro Manila, Philippines

PRELIMINARY PROGRAM

WEDNESDAY, JUNE 22:

6:30 pm Welcome Dinner - Westin Philippine Plaza Hotel

THURSDAY, JUNE 23:

9:00 am Registration

9:15 am Welcome

Chair, ANDREW ROSE, UC, Berkeley and NBER

9:30 am ROGER GORDON, UC, San Diego and NBER

WEI LI, University of Virginia

Financial, Taxation, and Regulatory Structures in Developing Countries

Discussants: FRANCIS LUI, Hong Kong University of Science and Technology

ROSARIO MANASAN, Philippine Institute for Development Studies

10:30 am ROBERTO MARIANO and DELANO VILLANUEVA, Singapore Management University

Sustainable External Debt Levels: Estimates for Selected Asian Countries

Discussants: FRANCIS LUI, Hong Kong University of Science and Technology

ROSARIO MANASAN, Philippine Institute for Development Studies

11:30 am SEOK-KYUN HUR, Korea Development Institute

Measuring the Effectiveness of Fiscal Policy in Korea

Discussants: YUM-KEUNG KWAN, City University of Hong Kong

WEI LI, University of Virginia

12:30 pm Lunch

Chair, ANNE KRUEGER, IMF and NBER

2:00 pm RAJ CHETTY, UC, Berkeley and NBER

ADAM LOONEY, Federal Reserve Board

Social Insurance in Developing Economies

Discussants: ROGER GORDON, UC, San Diego and NBER

MARIO LAMBERTE, Philippine Institute for Development Studies

3:00 pm CHIH-CHIN HO, National Taiwan University

Estate and Gift Taxation in Taiwan: An Analysis of the Current System and Some Proposals for Reform

Discussants: TAKATOSHI ITO, University of Tokyo and NBER

FELIPE MEDALLA, University of the Philippines

4:00 pm Adjourn

6:00 pm Welcome Cocktail Reception Hosted by Bangko Sentral ng Pilipinas

FRIDAY, JUNE 24:

Chair, MARIO LAMBERTE, Philippine Institute for Development Studies

9:00 am WILSON AU-YEUNG, JASON MCDONALD, and AMANDA SAYEGH, Australian Treasury

Australian Government Balance Sheet Management

Discussants: YOUNGSUN KOH, Korea Development Institute

CIELITO HABITO, Ateneo University

10:00 am YUM-KEUNG KWAN, City University of Hong Kong

On Government Consumption

Discussants: KIYOSHI MITSUI, Gakushuin University

MARIO LAMBERTE, Philippine Institute for Development Studies

11:00 am XIN-QIAO PING, China Center for Economic Research

Fiscal Decentralization and Local Public Good Provision in China

Discussants: TAKERO DOI, Keio University

CIELITO HABITO, Ateneo University

12:00 pm Lunch

1:00 pm Excursion

6:00 pm Dinner

SATURDAY, JUNE 25:

Chair, TAKATOSHI ITO, University of Tokyo and NBER

9:00 am GILBERTO LLANTO, Philippine Institute for Development Studies

Government at Risk: The Threat of Contingent Liabilities

Discussants: JASON MCDONALD, Australian Treasury

SHIGEKI KUNIEDA, Hitotshubashi University

10:00 am YASUSHI IWAMOTO, University of Tokyo

Policy Options for Financing the Future Medical and Long-Term Care Costs in Japan

Discussants: YOUNG JUN CHUN, University of Incheon

RAJ CHETTY, UC, Berkeley and NBER

11:00 am YOUNG-SUN KOH, Korea Development Institute

Reforming the Fiscal Management System in Korea

Discussants: GILBERTO LLANTO, Philippine Institute for Development Studies

CHONG-HYUN NAM, Korea University

12:00 pm Lunch

Chair, ANDREW ROSE, UC, Berkeley and NBER

1:30 pm TAKERO DOI, Keio University

TOSHIHIRO IHORI, University of Tokyo

KIYOSHI MITSUI, Gakushuin University

Sustainability, Debt Management, and Public Debt Policy in Japan

Discussants: DELANO VILLANUEVA, Singapore Management University

PONCIANO INTAL, De La Salle University

2:30 pm LAURENCE KOTLIKOFF, Boston University and NBER

Japan's Coming Generational Storm

Discussants: YASUSHI IWAMOTO, University of Tokyo

PONCIANO INTAL, De La Salle University

3:30 pm YOUNG JUN CHUN, University of Incheon

Population Aging, Fiscal Policies, and National Saving:

Prediction for Korean Economy

Discussants: LAURENCE KOTLIKOFF, Boston University and NBER

SHIGEKI KUNIEDA, Hitotshubashi University

4:30 pm Adjourn

6:00 pm Dinner - Westin Philippine Plaza Hotel

6/3/05