Session1 (10:05-11:15)
    Speech: Prof. Takeo Hoshi (University of California, San Diego) (30min)
    Theme: Monetary Policy and Bank Supervision
                  Document (PDF-Format 75KB)
    Comment: Ms. Yuri Okina (The Japan Research Institute, Limited) (10min)
                  Document (PDF-Format 174KB)
    Moderator: Mr. Shunichiro Ushijima (ESRI)
    Round Discussion: (30min)

Session2 (11:15-12:30)
    Speech: Prof. Frederic Mishkin (Columbia University) (30min)
    Theme: Monetary Policy in Japan: Problems and Solutions
                  Document1 (PDF-Format 162KB), Document2 (PDF-Format 471KB)
    Comment: Dr. Hiroshi Fujiki (Bank of Japan) (10min)
                  Document (PDF-Format 27KB)
    Moderator: Mr. Shunichiro Ushijima (ESRI)
    Round Discussion: (35min)

Session3 (13:30-14:45)
    Speech: Prof. Kenneth Kuttner (Oberlin College) (30min)
    Theme: Monetary and Fiscal Policy During the Great Recession:
    Old Challenges and New Insights
                  Document (PDF-Format 26KB)
    Comment: Prof. Naoyuki Yoshino (Keio University) (10min)
    Moderator: Mr. Shunichiro Ushijima (ESRI)
    Round Discussion: (35min)

Session4 (14:45-16:00)
    Speech: Dr. Masahiro Hori (ESRI),
    Dr. Satoshi Shimizutani (Hitotsubashi University) (30min)
    Theme: What Changes Deflationary Expectations?
                  Document1 (PDF-Format 133KB), Document2 (PDF-Format 450KB)
    Comment: Prof. Tsutomu Watanabe (Hitotsubashi University) (10min)
                  Document (PDF-Format 15KB)
    Moderator: Mr. Shunichiro Ushijima (ESRI)
    Round Discussion: (35min)

Round Table Session (16:15-17:30)
    Theme: Monetary Policy from Now On
    Lead off speech:
    Prof Takatoshi Ito (University of Tokyo)
    Dr. James Harrigan (Federal Reserve Bank of New York)
                  Document(Dr. James Harrigan) (PDF-Format 58KB)
    Chair: Mr. Yutaka Kosai (President of ESRI)