ESRI International Workshop on Overcoming Deflation and Revitalizing the Japanese Economy
| 9:10-9:30 | Registration | ||
| 9:30-9:35 | Opening Remarks: Yutaka Kosai (ESRI) | ||
| 9:35-11:00 | Session 1:"Lessons from the Prolonged Recession with Deflation in the Present Japan" | ||
| Chair: Yutaka Kosai (ESRI) | |||
| "The Heisei Recession: Overview" | |||
| Presentation by: Koichi Hamada (Yale University)(PDF-Format 383KB) | |||
| "Expectation Formation of Inflation/Deflation viewed from Household Micro Data" | |||
| Presentation by: Masahiro Hori(CAO), Satoshi Shimizutani (ESRI)(PDF-Format 193KB) | |||
| Discussant:David Weinstein (Columbia University) | |||
| 11:00-11:15 | Coffee Break | ||
| 11:15-12:45 | Session 2:"The Effects of Monetary Policy in the Zero Interest Rate Economy" | ||
| Chair: Koichi Hamada (Yale University) | |||
| " Optimal Monetary Policy in a Liquidity Trap" | |||
| Presentation by: Michael Woodford (Princeton University)(PDF-Format 453KB) | |||
| Discussant:Tsutomu Watanabe(PDF-Format 33KB) | |||
| "The Case for Open-Market Purchases in a Liquidity Trap" | |||
| Presentation by:Alan Auerbach (University of California, Berkeley)(PDF-Format 146KB) | |||
| Discussant: Makoto Saito(PDF-Format 57KB) | |||
| 12:45-13:35 | Lunch | ||
| 13:35-15:05 | Session 3"The Theory and Policy for Corporate Revitalization" | ||
| Chair: Shunichiro Ushijima (ESRI) | |||
| "Corporate Revitalization in Japan" | |||
| Presentation by: Tomoo Tasaku (PwC Financial Advisory Services, Industrial Revitalization Corporation of Japan,Industrial Revitalization Committee)(PDF-Format 54KB) | |||
| "Corporate Revitalization in the United States and its Application to Japan" | |||
| Presentation: by Douglas Baird (University of Chicago, Law School)(PDF-Format 51KB) | |||
| "Corporate Revitalization in Korea and its Application to Japan" | |||
| Presentation by: Hyoung-Tae Kim (Korea Securities Research Institute)(PDF-Format 60KB) | |||
| Discussant: Jenny Corbett (Australian National University)(PDF-Format 54KB) | |||
| 15:05-15:20 | Coffee Break | ||
| 15:20-17:10 | Round Table Discussion | ||
| Chair: Anil Kashyap (University of Chicago) | |||
| "Policy Issues and Prospects toward Overcoming Deflation and Revitalizing the Japanese Economy" | |||
| Keynote Speakers:Haruhiko Kuroda (Hitotsubashi University)(PDF-Format 19KB) | |||
| *:The last 20 minutes were provided to Q&A with the press and others. | |||