175 sessions, 515 papers

2009 Far East and South Asia Meeting of the Econometric Society
Complete List of All Sessions

Session 1: Exchange Rate Pass-Through
Session Organizer: Akihisa Shibata, Kyoto University
Session Chair: Mototsugu Shintani, Vanderbilt University
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: S203
New Keynesian Exchange Rate Pass-Through
JEL codes: E31; F31; F41
By Woon Gyu Choi; International Monetary Fund David Cook; Hong Kong University of Science and Technology
Presented by: Woon Gyu Choi, IMF
Exchange Rate Pass-Through and Inflation: A Nonlinear Time Series Analysis
[slides]
By Mototsugu Shintani; Vanderbilt University Akiko Terada-Hagiwara; Asian Development Bank Tomoyoshi Yabu; Keio University
Presented by: Mototsugu Shintani, Vanderbilt University
The European Integration and the Exchange Rate Pass-through: An Empirical Study for five Eurozone Countries vis-`a-vis the United States
By Yi-Hua Wu; Department of Finance, Kainan University. Chao-Hsi Huang;Department of Economics, National Tsing Hua University
Presented by: Yi-Hua Wu, Kainan University

Session 2: Macroeconometrics I
Session Organizer: Masao Ogaki, Oho State University
Session Chair: Doo Yull Choi, Korea Univ. of Technology & Education
Session type: contributed
Session JEL code: E00
Date: August 3, 2009
Time: 9:00 - 10:20
Location: L4
On the Effects of Monetary Policy Shocks on Exchange Rates
JEL codes: C33,
By Michael Binder; Goethe University Frankfurt and Center for Financial Studies Qianying Chen; Goethe University Frankfurt Xuan Zhang; Goethe University Frankfurt
Presented by: Michael Binder,
Revisiting the Tests of the Unbiased Hypothesis of Forward Exchange Rates
[slides]
By Seongman Moon; Universidad Carlos III de Madrid Carlos Velasco; Universidad Carlos III de Madrid
Presented by: Seongman Moon, Universidad Carlos III de Madrid
Convergence of Real Exchange Rates in the Post-Bretton Woods Period: Evidence And Explanations of Convergence Clubs
By Chi-Young Choi;Department of Economics, University of Texas at Arlington. Doo-Yull Choi;Department of Industrial Management, Korea University of Technology & Education. Young Se Kim; Department of Economics, University of North Texas.
Presented by: Doo Yull Choi, Korea Univ. of Technology & Education

Session 3: Experimental Economics: Social Preference
Session Organizer: Tatsuyoshi Saijo, Osaka University
Session Chair: Tomomi Tanaka, Arizona State University
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: S7
Theory of Mind and Social Preferences
JEL codes: C91, D87, H42
By Kristina Leipold; TU Dresden, Faculty of Business and Economics, D-01062 Dresden (Germany) Marcus Dittrich; European Business School (EBS), Department of Law, Governance & Economics, Soehnleinstr. 8, D-65201 Wiesbaden (Germany)
Presented by: Kristina Leipold, Technische Universität Dresden
Handouts without handshakes: Patronizing out-group preferences in humans
By Tomomi Tanaka ; Arizona State University Colin Camerer ; California Institute of Technology
Presented by: Tomomi Tanaka, Arizona State University
Does Social Comparison of Ability Reduce Generosity? An Experimental Investigation
By Jianlin Zhang; Department of Economics, FASS, National University of Singapore Yohanes E. Riyanto; Department of Economics, FASS, National University of Singapore
Presented by: Jianlin Zhang, Nationall University of Singapore

Session 4: Economic Growth: Theory and Measurement
Session Organizer: Toni Braun,
Session Chair: Jonathan Ostry, International Monetary Fund
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: C1
What Makes Growth Sustained?
[slides]
JEL codes: F143, 011, 02
By Andy Berg; IMF Jonathan D. Ostry; IMF Jeromin Zettelmeyer; IMF
Presented by: Jonathan Ostry, International Monetary Fund
A Two-sector Model of Endogenous Growth
By Costas Azariadis (Department of Economics, Washington University in St. Louis); Been-Lon Chen (Institute of Economics, Academia Sinica); Chia-Hui Lu (Department of Economics, National Taipei University) Yin-Chi Wang (Department of Economics, Washington University in St. Louis)
Presented by: Been-Lon Chen, Academia SInica

Session 5: New Topics of Public Economics
Session Organizer: Toshihiro Ihori, University of Tokyo
Session Chair: Tsung-Sheng Tsai, National Tsing Hua University
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: L2
Modeling the Immigration Shock
JEL codes: H55, H52, F22
By Michele Boldrin; WUStL, FEDEA and CEPR Ana Montes; Universidad de Murcia
Presented by: Ana Montes, Universidad de Murcia
The Macroeconomics of Universal Health Insurance Vouchers
[slides]
By Juergen Jung; Towson University (USA) Chung Tran; University of New South Wales (AUS)
Presented by: Juergen Jung, Towson University
On IRS's Servicing and Auditing Taxpayers
[slides]
By C.C. Yang, Academia Sinica Tsung-Sheng Tsai, National Tsing Hua University
Presented by: Tsung-Sheng Tsai, National Tsing Hua University

Session 6: Macroeconomic Time Series
Session Organizer: Joon Park, Texas A&M University
Session Chair: Hwagyun Kim, Texas A&M University
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: L7
Modeling the Dynamics of Inflation Compensation
JEL codes: C11, C22, E31
By Markus Jochmann; University of Strathclyde Gary Koop; University of Strathclyde Simon M. Potter; Federal Reserve Bank of New York
Presented by: Markus Jochmann, University of Strathclyde
What Does the Market Think of the Taylor Rule?
By Scott Borger; UCSD Jim Hamilton; UCSD Seth Pruitt; Federal Reserve Board
Presented by: Seth Pruitt, Federal Reserve Board of Governors
Macroeconomic Uncertainty and Asset Prices: A Stochastic Volatility Model
By Hagen Kim, Texas A&M Hyong Lee, Korea Ministry of Finance and Strategy Joon Y. Park, Texas A&M and Sungkyunkwan U. Hyosung Yeo, Texas A&M
Presented by: Hwagyun Kim, Texas A&M University
International market links and volatility transmission
[slides]
By Valentina Corradi; University of Warwick Walter Distaso, Imperial College London Marcelo Fernandes; Queen Mary University of London
Presented by: Marcelo Fernandes, Queen Mary, University of London

Session 7: Banking Regulation
Session Organizer: Takeo Hoshi, University of California, San Diego
Session Chair: Rafael Repullo, CEMFI
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: L1
A Framework for Assessing the Systemic Risk of Major Financial Institutions
JEL codes: G21,G28,G14
By Xin Huang; University of Oklahoma Hao Zhou; Federal Reserve Board Haibin Zhu; Bank for International Settlements
Presented by: Haibin Zhu, Bank for International Settlements
Early Detection Techniques for Market Risk Failure
By William Pouliot City University London Jose Olmo City University London
Presented by: William Pouliot, City University London
Mitigating the Procyclicality of Basel II
By Rafael Repullo; CEMFI Jesus Saurina; Bank of Spain Carlos Trucharte; Bank of Spain
Presented by: Rafael Repullo, CEMFI
Has the Basel Accord accelerated evergreening policy in Japan? - A panel analysis of Japanese Bank Credit Allocation
By Yuri Sasaki; Department of Economics, Meiji Gakuin, University
Presented by: Yuri Sasaki, Meiji Gakuin University

Session 8: Strategic Competition
Session Organizer: Kazuharu Kiyono, Waseda University
Session Chair: Tadashi Sekiguchi, Kyoto University
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: L6
Global Asymptotic Stability of a Proprietary Platform with a Dynamic Fee Scheme
By Dai Zusai; U Wisconsin-Madison
Presented by: Dai Zusai, University of Wisconsin-Madison
When the Highest Bidder Loses the Auction: Theory and Evidence from Public Procurement
By Francesco Decarolis; The University of Chicago
Presented by: Francesco Decarolis, The University of Chicago
Pricing of Durable Network Goods under Dynamic Coordination Failure
By Tadashi Sekiguchi: Kyoto University
Presented by: Tadashi Sekiguchi, Kyoto University
The Impact of Initial Financial State on Firm Duration Across Entry Cohorts
By Kim P. Huynh (Indiana University) Robert J. Petrunia (Lakehead University) Marcel C. Voia (Carleton University)
Presented by: Kim Huynh, Indiana University

Session 9: Regional Economic Integration
Session Organizer: Kazuharu Kiyono, Waseda University
Session Chair: Lingling Zhang, University of Rhode Island
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: S9
A Model Of Trading-Bloc Formation
JEL codes: F15
By Lingling Zhang; University of Rhode Island
Presented by: Lingling Zhang, University of Rhode Island
TRADE SPECIALISATION AND ECONOMIC CONVERGENCE: EVIDENCE FROM TWO EASTERN EUROPEAN COUNTRIES
By Guglielmo Maria Caporale (Brunel University, London;, CESifo and DIW), Christophe Rault (LEO, University of Orléans, CESifo, IZA, and William Davidson Institute), Robert Sova (CES, Sorbonne University, A.S.E. and E.B.R.C), Anamaria Sova (CES, Sorbonne University, and E.B.R.C)
Presented by: AnaMaria Sova, CES, Sorbonne University, and E.B.R.C
Intra- and Extra-regional Effects of Plurilateral FTAs in Asia
[slides]
By Hiro Lee; Osaka University Robert F. Owen; University of Nantes Dominique van der Mensbrugghe; The World Bank
Presented by: Hiro Lee, Osaka University
European Accounting Harmonisation: Consequences of IFRS Adoption on Trade in Goods and Foreign Direct Investments
By Laura Márquez-Ramos; Department of Economics and Institute of International Economics, Universitat Jaume I, Castellón (Spain)
Presented by: LAURA Marquez-Ramos, UNIVERSITAT JAUME I

Session 10: Networks
Session Organizer: Akihiko Matsui, University of Tokyo
Session Chair: Marco van der Leij, Universidad de Alicante
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: L8
Public Goods in Directed Networks
JEL codes: C72; D62; H41
By Kuo-chih Yuan; National Taiwan University
Presented by: Kuo-chih Yuan, National Taiwan University
Social Distance and Network Structures
[slides]
By Ryota Iijima; University of Tokyo Yuichiro Kamada; Harvard University
Presented by: Ryota Iijima, The University of Tokyo
Forward Induction Network Equilibrium and Heterogeneous Job Contact Networks
By Shin-Yi Wu;Department of Economics, National Chengchi University, Taiwan. Wei-Torng Juang; Institute of Economics, Academia Sinica, Taiwan.
Presented by: Wei-Torng Juang,
Risk aversion and networks: Microfoundations for network formation
[slides]
By Jaromir Kovarik; University of the Basque Country Marco van der Leij; University of Alicante
Presented by: Marco van der Leij, Universidad de Alicante

Session 11: Information and Strategy
Session Organizer: Atsushi Kajii, Kyoto University
Session Chair: Huanxing Yang, The Ohio State University
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: S8
Pre-meeting Persuasion of Two Committee Members through Selective Disclosure of Two Evidences
[slides]
JEL codes: D71, D82, D83
By Shinsuke Kambe; Gakushuin University
Presented by: SHINSUKE KAMBE, GAKUSHUIN UNIVERSITY
Information Aggregation and Investment Cycles with Strategic Complementarity
By Huanxing Yang, Ohio State University
Presented by: Huanxing Yang, The Ohio State University
A Coordination Game Model of Charitable Giving and Seed Money Effect
By Kentaro Hatsumi; Osaka University
Presented by: Kentaro Hatsumi, Osaka University
Prizes and Lemons: Procurement of Innovation under Imperfect Commitment
[slides]
By Wei Ding; Bonn Graduate School of Economics, University of Bonn, Germany Elmar Wolfstetter; Institute of Economic Theory I, Humboldt University at Berlin, Germany
Presented by: Wei Ding, Bonn Graduate School of Economics

Session 12: Decision Theory I
Session Organizer: Kazuya Kamiya, UNIVERSITY OF TOKYO
Session Chair: Daisuke Nakajima, University of Michigan
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: L9
Revealed Attention
JEL codes: D11 D81
By Yusufcan Masatlioglu; University of Michigan Daisuke Nakajima; University of Michigan Erkut Ozbay; University of Maryland
Presented by: Daisuke Nakajima, University of Michigan
Does Regret Explain Why People Search too Little? A Model of Sequential Search with Anticipated Regret and Rejoicing
By Weng, Zhiquan(Darren); Economics, The Ohio State University.
Presented by: Zhiquan(Darren) Weng, The Ohio State University
Random Discounting with Habits
By Youichiro Higashi; Graduate School of Humanities and Social Sciences/Okayama University. Kazuya Hyogo; Faculty of Economics/Ryukoku University. Norio Takeoka; Faculty of Economics/Yokohama National Univeristy.
Presented by: Norio Takeoka, Yokohama National University
Pre-probabilistic sophistication
By Osamu Kada; Faculty of Engineering, Yokohama National University, Yokohama 240-8501,Japan
Presented by: Osamu Kada, Yokohama National University

Session 13: Agglomeration
Session Organizer: Takatoshi Tabuchi, University of Tokyo
Session Chair: Yosuke Takeda, Sophia University
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: S204
Agglomeration and wage bargaining
JEL codes: J50, P25, R38
By Kenmei Tsubota; The Center for Advanced Policy Studies, Institute of Economic Research, Kyoto University
Presented by: Kenmei Tsubota, Kyoto University
Agglomeration, Tax, and Local Public Good
By An-Min Wang; National Taipei University Dao-Zhi Zeng; Tohoku University
Presented by: Dao-Zhi Zeng, Tohoku University
Agglomeration or Congestion? Productivity and Economic Distance of the Japanese Automobile-Part Plants
By Yosuke Takeda; Sophia University Ichihiro Uchida; Aichi University
Presented by: Yosuke Takeda, Sophia University

Session 14: Urban Economics
Session Organizer: Takatoshi Tabuchi, University of Tokyo
Session Chair: Yukiko Abe, Hokkaido University
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: F
The Commuting Game
[slides]
JEL codes: R41
By Alex Anas; University of California, Riverside Marcus Berliant, Washington University in St. Louis
Presented by: Marcus Berliant, Washington University in St. Louis
The Stability of Downtown Parking and Traffic Congestion
By Richard Arnott; University of California, Riverside Eren Inci; Sabanci University
Presented by: Eren Inci, Sabanci University
Family labor supply, commuting time, and residential decisions: the case of the Tokyo Metropolitan Area
[slides]
By Yukiko Abe; Hokkaido University
Presented by: Yukiko Abe, Hokkaido University

Session 15: Political Economy I
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Julia Cage, Harvard University and ENS
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: S10
Private Sector Crowding Out Through Excessive Public Sector Employment
JEL codes: O10,J24,H11,H83
By Esteban Jaimovich; Collegio Carlo Alberto Juan Pablo Rud; LSE
Presented by: Esteban Jaimovich, Collegio Carlo Alberto
What Does It Take to Mitigate Corruption?
By Daniel Suryadarma; Australian National University Chikako Yamauchi; Australian National University
Presented by: Chikako Yamauchi, Australian National University
Recruitment Fraud Victimization: Determinants, Reasons, and Impacts
By Yoshito Takasaki;University of Tsukuba
Presented by: Yoshito Takasaki, University of Tsukuba
Asymmetric Information, Rent Extraction and Aid Efficiency
By Julia Cage; Harvard University and Paris School of Economics
Presented by: Julia Cage, Harvard University and ENS

Session 16: Semi and Nonparametric Identification, Estimation and Inference
Session Organizer: Xiaohong Chen, Yale University
Session Chair: Yoon-Jae Whang, Seoul National University
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: L3
Efficient Estimation of Average Treatment Effects under Treatment-Based Sampling
JEL codes: C14, C21
By Kyungchul Song University of Pennsylvania
Presented by: Kyungchul Song, UPenn
Identification in Accelerated Failure Time Competing Risks Models
By Sokbae Lee; University College London Arthur Lewbel; Boston College
Presented by: Arthur Lewbel, Boston College
Nonparametric Tests of Conditional Treatment Effects
By Sokbae Lee (University College London); Yoon-Jae Whang (Seoul National University)
Presented by: Yoon-Jae Whang, Seoul National University

Session 17: Resampling and Simulation Methods in Time Series
Session Organizer: Joon Park, Texas A&M University
Session Chair: Hwang Sun Oong, Yonsei University
Session type: contributed
Date: August 3, 2009
Time: 9:00 - 10:20
Location: S12
Recursive-design wild bootstrap trace test
JEL codes: C 22
By Swiss Banking Institute, University of Zurich
Presented by: Silika Prohl, Swiss Banking Institute, University of Zurich
A Simple Hybrid Bootstrap Test for Predictive Ability Based on Autoregressions
By Ching-Chuan Tsong; National Chi-Nan University Cheng-Feng Lee; National Kaohsiung University of Applied Sciences Biing-Shen Kuo; National ChengChi University
Presented by: Biing-Shen Kuo, National Chengchi University
Structural Break and Spurious Causality: A Simulation Study
By Sun O. Hwang; School of Economics, Yonsei University, Korea Ha-Hyun Jo; School of Economics, Yonsei University, Korea
Presented by: Hwang Sun Oong, Yonsei University

Session 18: Invited Lecture: Dilip Abreu: Three Approaches to Equilibrium Selection in Stochastic Games
Session Organizer: ,
Session Chair: Hitoshi Matsushima, University of Tokyo
Session type: invited
Date: August 3, 2009
Time: 10:35 - 11:35
Location: L1

Session 19: Invited Lecture: Sendhil Mullainathan: The Behavioral Economics of Poverty
Session Organizer: ,
Session Chair: Takashi Kurosaki, Hitotsubashi University
Session type: invited
Date: August 3, 2009
Time: 10:35 - 11:35
Location: L6

Session 20: Invited Lecture: Charles Manski: Diversified Treatment under Ambiguity
Session Organizer: ,
Session Chair: Hidehiko Ichimura, University of Tokyo
Session type: invited
Date: August 3, 2009
Time: 10:35 - 11:35
Location: F

Session 21: Invited Lecture: Abhijit Banerjee: Why voters vote the way they do?
Session Organizer: ,
Session Chair: Yasuyuki Sawada, University of Tokyo
Session type: invited
Date: August 3, 2009
Time: 10:35 - 11:35
Location: H

Session 22: Open Economy Dynamic General Equilibrium Models I
Session Organizer: Akihisa Shibata, Kyoto University
Session Chair: Keisuke Otsu, Sophia University
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: S203
Effects of TRIPS on Growth, Welfare and Income Inequality in an R&D-Growth Model
JEL codes: O34, D31, F13
By Angus C. Chu; Institute of Economics, Academia Sinica Shin-Kun Peng; Institute of Economics, Academia Sinica
Presented by: Angus Chu, Academia Sinica
Global Liquidity, Vertical Trade, and Financial Integration
By Kang Shi, Chinese University of Hong Kong Juanyi Xu, Hong Kong University of Science and Technology
Presented by: Kang Shi, Chinese University of Hong Kong
International business cycle accounting: the case of Japan and the U.S. 1980-2008
By Keisuke Otsu; Sophia University
Presented by: Keisuke Otsu, Sophia University
Accounting for Oil Price Variation and Weakening Impact of the Oil Crisis
By Naohisa Hirakata; Bank of Japan Nao Sudo; Bank of Japan
Presented by: Naohisa Hirakata, Bank of Japan

Session 23: Macroeconometrics II
Session Organizer: Masao Ogaki, Oho State University
Session Chair: Tao Wu, Federal Reserve Bank of Dallas
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: L4
Measuring Inflation Expectations from Interval-Coded Data
[slides]
By Yasutomo Murasawa; School of Economics, Osaka Prefecture University
Presented by: Yasutomo Murasawa, Osaka Prefecture University
Does the cost channel matter for inflation dynamics? An identification robust structural analysis for the US and the Euro area
By Rolf Scheufele; Halle Institute for Economic Research
Presented by: Rolf Scheufele, Halle Institute for Economic Research
Measuring Oil-price Shocks Using Market-based Information
By Tao Wu; Federal Reserve Bank of Dallas Michele Cavallo; Federal Reserve Board
Presented by: Tao Wu, Federal Reserve Bank of Dallas

Session 24: Experimental Economics: Rationality
Session Organizer: Tatsuyoshi Saijo, Osaka University
Session Chair: Hirokazu Takizawa, Chuo University
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: S7
Intuition and Deliberation: Two Systems for Strategizing in the Brain
By Wen-Jui Kuo; Institute of Neuroscience, National Yang-Ming University, Taipei, Taiwan Tomas Sjöström; Department of Economics, Rutgers University, New Brunswick, N.J. 08901, U.S.A. Yu-Ping Chen; Department of Economics, National Taiwan University, Taipei, Taiwan Yen-Hsiang Wang; Department of Electrical Engineering, National Taiwan University, Taipei, Taiwan Chen-Ying Huang; Department of Economics, National Taiwan University, Taipei, Taiwan
Presented by: Yu-Ping Chen, National Taiwan University
Level-k Analysis of Experimental Centipede Games
By Toshiji Kawagoe; Future-University Hakodate Hirokazu Takizawa; Chuo University
Presented by: Hirokazu Takizawa, Chuo University
An Egalitarian Regime Breeds Generosity: The Effect of Endowment Allocation Procedures on Social Preferences
By Yohanes E. Riyanto; Department of Economics, National University of Singapore, AS2 1Arts Link, Singapore 117570 Jianlin Zhang; Department of Economics, National University of Singapore, AS2 1Arts Link, Singapore 117570
Presented by: Yohanes Riyanto, National University of Singapore
On the beliefs off the path: An experimental investigation of equilibrium refinement
By Yves Breitmoser; European University Viadrina Jonathan H.W. Tan; University of Nottingham Daniel J. Zizzo; University of East Anglia
Presented by: Jonathan Tan, The University of Nottingham

Session 25: Firm Dynamics
Session Organizer: Toni Braun,
Session Chair: Shaojin Li, University of Texas at Austin
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: F
Real Effects of Price Stability with Endogenous Nominal Indexation
JEL codes: D21, E22, E31
By Cesaire Meh; Bank of Canada Vincenzo Quadrini; University of Southern California Yaz Terajima; Bank of Canada
Presented by: Yaz Terajima, Bank of Canada
Sectoral Price Rigidity and Aggregate Dynamics
By Hafedh Bouakez, HEC Montreal Emanuela Cardia, University of Montreal Francisco Ruge-Murcia, University of Montreal
Presented by: Francisco Ruge-Murcia, University of Montreal
Partial Irreversible Investment and Cyclical Capital Reallocation: the Role of Adverse Selection
By Shaojin Li; Universtity of Texas at Austin
Presented by: Shaojin Li, University of Texas at Austin
Expectation Driven Firm Dynamics and Business Cycles
By Nan Li, Ohio State University M. Saif Mehkari, Ohio State University
Presented by: Nan Li, Ohio State University

Session 26: Advances in Macroeconomics
Session Organizer: Toni Braun,
Session Chair: Wen Yao, University of Pennsylvania
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: C1
The One-child Policy: A Macroeconomic Analysis
By Pei-Ju Liao, Institute of Economics, Academia Sinica
Presented by: Pei-Ju Liao, Academia Sinica
Efficiency and Lack of Commitment in an Overlapping Generations Model with Distributional Shocks
By Koichi Miyazaki; The Pennsylvania State University
Presented by: Koichi Miyazaki, The Pennsylvania State University
Skill Premium, College Enrollment and Education Signals
By Yu Zheng; Washington University in St. Louis
Presented by: Yu Zheng, Washington University in St. Louis
Computing DSGE Models with Recursive Preferences
By Dario Caldara; IIES Jesús Fernández-Villaverde;University of Pennsylvania, NBER, CEPR, and FEDEA Juan F. Rubio-Ramírez;Duke University, Federal Reserve Bank of Atlanta, and FEDEA Wen Yao;University of Pennsylvania
Presented by: Wen Yao, University of Pennsylvania

Session 27: Voting and Democracy
Session Organizer: Toshihiro Ihori, University of Tokyo
Session Chair: Yasutora Watanabe, Northwestern University, Kellogg School
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: L2
The voting paradox and social networks: An empirical analysis
JEL codes: P16
By João Amaro de Matos; Universidade Nova de Lisboa Pedro Pita Barros; Universidade Nova de Lisboa and CEPR Inácia Pacheco Pereira; Universidade Nova de Lisboa
Presented by: Jo�o Amaro de Matos,
Election Results and Opportunistic Policies: An Integrated Approach
[slides]
By Toke S. Aidt; University of Cambridge Francisco José Veiga; University of Minho Linda Gonçalves Veiga; University of Minho
Presented by: Linda Veiga, Universidade do Minho and NIPE
Inferring Strategic Voting
By Kei Kawai; Dept of Economics, Northwestern University Yasutora Watanabe; Kellogg School of Management, Northwestern University
Presented by: Yasutora Watanabe, Northwestern University, Kellogg School
Political Institutions and Human Development: Does Democracy Fulfill its 'Constructive' and 'Instrumental' Role?
By Sebastian Vollmer; University of Goettingen Maria Ziegler; University of Goettingen
Presented by: Maria Ziegler, University of Goettingen

Session 28: Nonstationary Time Series
Session Organizer: Joon Park, Texas A&M University
Session Chair: Rickard Sandberg, Stockholm School of Economics
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: L7
Nonlinear Cointegration Analysis and the Environmental Kuznets Curve
JEL codes: C12, C13, Q20
By Seung Hyun Hong;Concordia University, Canada Martin Wagner;Institute for Advanced Studies, Austria
Presented by: Seung Hyun Hong, Concordia University
Asymptotics for weighted periodic transformations of integrated time series
[slides]
By Chien-Ho Wang; National Taipei University Robert M. de Jong; Ohio State University
Presented by: Chien-Ho Wang, National Taipei University
Testing Parameter Constancy in Unit Root Autoregressive Models against Multiple Continuous Structural Changes
By Rickard Sandberg; Stockholm School of Economics Changli He; Tianjin University of Finance and Economics
Presented by: Rickard Sandberg, Stockholm School of Economics

Session 29: Corporate Financing
Session Organizer: Takeo Hoshi, University of California, San Diego
Session Chair: Masanori Ono, Fukushima University
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: L1
Formal Financial Sector Access for Older Firms; Does it Matter for Investment?
JEL codes: D92,D82,G30
By Alexander Karaivanov; Simon Fraser University Sonia Ruano; Bank of Spain Jesus Saurina; Bank of Spain Robert Townsend; MIT
Presented by: Alexander Karaivanov, Simon Fraser University
Trading Companies as Financial Intermediaries in Japan
By Masanori Ono; Fukushima Uiversity
Presented by: Masanori Ono, Fukushima University
Impact of Subprime Crisis on Small and Medium-Sized Enterprize Finance: The Case of Japan
By Kenshi Taketa; Aoyama Gakuin University
Presented by: Kenshi Taketa, Aoyama Gakuin University
Excessive Risk Taking and the Maturity Structure of Debt
By Bertrand DJEMBISSI; CNAM PARIS
Presented by: Bertrand Djembissi, CNAM PARIS

Session 30: Information and Quality
Session Organizer: Kazuharu Kiyono, Waseda University
Session Chair: Vicente Cuñat, London School of Economics
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: S9
Information gathering externalities in product markets
JEL codes: JEL: D83, L15
By Heski Bar-Isaac; New York University Guillermo Caruana; CEMFI Vicente Cuñat; London School of Economics
Presented by: Vicente Cuñat, London School of Economics
Self-assessed health and cigarette smoking in China
By W. Douglass Shaw Steven T. Yen Yan Yuan
Presented by: Steven Yen, The University of Tennessee

Session 31: Trade, Industries and Environment
Session Organizer: Kazuharu Kiyono, Waseda University
Session Chair: Jota Ishikawa, Hitotsubashi University
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: L6
Environmental and Trade Policies for Oligopolistic Industry in the Presence of Consumption Externalities
JEL codes: F13, F18
By Jota Ishikawa; Hitotsubashi University and RIETI Toshihiro Okubo; Kobe University
Presented by: Jota Ishikawa, Hitotsubashi University
A Dynamic Game of Status-Seeking with Public Capital and an Exhaustible Resource
By Seiichi KATAYAMA; Aichi-Gakuin University Ngo Van Long;McGill University
Presented by: Seiichi KATAYAMA, Aichi-gakuin University
Operational Complexity and Uncertainty in Firms' Environmental Management System Certification Decisions: Japanese Manufacturers
By Masao Nakamura;Sauder School of Business,University of British Columbia Takuya Takahashi;School of Environmental Science, University of Shiga Prefecture
Presented by: Masao Nakamura, University of British Columbia

Session 32: Disability and Economy I
Session Organizer: Akihiko Matsui, University of Tokyo
Session Chair: Akihiko Matsui, University of Tokyo
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: L8
An Experimental Study of Basic Income Guarantee
[slides]
JEL codes: C73, C91, D31,
By Toshiji Kawagoe; Department of Complex Systems, Future University - Hakodate
Presented by: Toshiji Kawagoe, Future University - Hakodate
Disability and Economy in Japan
By Akihiko Matsui; Faculty of Economics, University of Tokyo
Presented by: Akihiko Matsui, University of Tokyo
Compensation and Responsibility: General Impossibilities and Possibilities
By Yohei Sekiguchi; University of Tokyo
Presented by: Yohei Sekiguchi, University of Tokyo

Session 33: Decision Theory II
Session Organizer: Atsushi Kajii, Kyoto University
Session Chair: Katsutoshi Wakai, Kyoto University
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: S8
Dual representations of cardinal preferences when outcomes are vectors
[slides]
JEL codes: C02, D01, D81,
By Sudhir A. Shah; Delhi School of Economics
Presented by: Sudhir Shah, Delhi School of Economics
Guilt and Self-Control
By Jawwad Noor; Boston University, Department of Economics Linxia Ren; Boston University, Department of Economics
Presented by: Linxia Ren, Boston University
A Model of Stochastic Utility Smoothing
By Katsutoshi Wakai, Department of Economics, Kyoto University
Presented by: Katsutoshi Wakai, Kyoto University
Optimal Lottery Games: Implications for Preferences Under Risk
By Direr; Paris School of Economics
Presented by: Alexis Direr, PSE & Cepremap

Session 34: Computational Economics
Session Organizer: Kazuya Kamiya, UNIVERSITY OF TOKYO
Session Chair: Sergei Morozov, Morgan Stanley
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: L9
Computing Densities in Stochastic Recursive Economies: Generalized Look-Ahead Techniques
JEL codes: C61, C63
By Toni Braun; University of Tokyo Huiyu Li; University of Tokyo John Stachurski; Kyoto University
Presented by: Huiyu Li, University of Tokyo
Limits of Passive Learning in the Bayesian Dual Control of Drifting Coefficient Regression
[slides]
By Sergei Morozov; Morgan Stanley & Stanford University
Presented by: Sergei Morozov, Morgan Stanley

Session 35: Semi and Nonparametric Instrumental Variable Method
Session Organizer: Xiaohong Chen, Yale University
Session Chair: Antonio Galvao, Univ. of Illinois at Urbana-Champaign
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: L3
Instrumental Variables Estimation and Weak-Identification-Robust Inference Based on Conditional Quantile Restriction
By Vadim Marmer; University of British Shinichi Sakata; University of British Columbia
Presented by: Shinichi Sakata, University of British Columbia
Instrumental Variables Quantile Regression for Panel Data with Measurement Errors
[slides]
By Antonio F. Galvao Jr. Department of Economics, University of Illinois at Urbana-Champaign Gabriel V. Montes-Rojas Department of Economics, City University London
Presented by: Antonio Galvao, Univ. of Illinois at Urbana-Champaign

Session 36: Credit Market and Monetary Policy
Session Organizer: Shinichi Fukuda,
Session Chair: Chao Gu, University of Missouri
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: C2
Production, Hidden Action, and the Payment System
JEL codes: E31; E51; E58
By Chao Gu; University of Missouri Joe Haslag; University of Missouri Mark Guzman, University of Reading
Presented by: Chao Gu, University of Missouri
Productivity, Credit Constraints and Monetary Policy
By Ying Syuan Li;Department of Economics, National Taiwan University Yiting Li;Department of Economics, National Taiwan University
Presented by: Ying Syuan Li, National Taiwan University
Optimal Monetary Policy under Imperfect Financial Integration
By Yuki Teranishi; Bank of Japan Nao Sudo; Bank of Japan
Presented by: Yuki Teranishi, Columbia University
EMU and European Government Bond Market Integration
[slides]
By Marta Gomez-Puig; University of Barcelona (Spain) Helena Chuliá; Universitat Oberta de Catalunya (Spain) Pilar Abad; Universidad Rey Juan Carlos (Spain)
Presented by: Marta Gómez-Puig, University of Barcelona

Session 37: Empirical Analysis of Microfinance
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Hisaki Kono, Institute of Developing Economies
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: S10
Medium and Long-Term Participation in Microfinance: An Evaluation Using a Large Panel Dataset from Bangladesh
[slides]
By Asadul Islam Department of Economics, Monash University, Australia Email: asadul.islam@buseco.monash.edu.au Phone: +61 3 9903 2783, Fax: +61 3 9905 5476
Presented by: Asadul Islam, Monash University
Why Is the Take-up of Microinsurance So Low? Evidence from a Health Insurance Scheme in India
By Seiro Ito; Institute of Developing Economies Hisaki Kono; Institute of Developing Economies
Presented by: Hisaki Kono, Institute of Developing Economies

Session 38: Theoretical Analysis of Time Series
Session Organizer: Joon Park, Texas A&M University
Session Chair: Jin Lee, Ewha Womans University
Session type: contributed
Date: August 3, 2009
Time: 11:50 - 13:10
Location: S12
Bayesian Inference in the Time Varying Cointegration Model
By Gary Koop; University of Strathclyde Roberto Leon-Gonzalez; Graduate Institute of Policy Studies Rodney Strachan; University of Queensland
Presented by: Roberto Leon-Gonzalez, National Graduate Institute for Policy S
Nonparametric Estimators in Long-horizon regressions with nonstationary covariates
By Jin Lee Ewha Womans University
Presented by: Jin Lee, Ewha Womans University

Session 39: Social Security I
Session Organizer: Toshihiro Ihori, University of Tokyo
Session Chair: Yusuke Kinai, Osaka University
Session type: contributed
Session JEL code: H55
Date: August 3, 2009
Time: 14:30 - 15:50
Location: L2
The Design of Social Security System:Pension System vs. Unemployment Insurance
JEL codes: : H55, E61, H53
By Yusuke KINAI Graduate School of Economics, Osaka University
Presented by: Yusuke Kinai, Osaka University
Health, Retirement and Social Security
By Shutao Cao; Bank of Canada Alexander Ueberfeldt; Bank of Canada
Presented by: Shutao Cao, Bank of Canada
Temptation and Social Security in a Dynastic Framework
[slides]
By Cagri Seda Kumru, University of New South Wales Chung Tran, University of New South Wales
Presented by: Chung Tran, University of New South Wales

Session 40: Empirical Studies on International Finance
Session Organizer: Akihisa Shibata, Kyoto University
Session Chair: Shigeru Iwata, University of Kansas
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: S203
Are IMF Loans More Effective without Policy Advice?: A Switching VAR Assessment
JEL codes: F33, F34, O19
By Shigeru IWATA; University of Kansas; Hiroshi Murao; Aomori Public College
Presented by: Shigeru Iwata, University of Kansas
What Happened to the Good Old Days? the Role of Expenditure Switching in the Global Imbalance Adjustment
By Wei Dong Bank of Canada
Presented by: Wei Dong, Bank of Canada
Timing Exchange Rates Using Order Flow: The Case of the Loonie
By Michael King; Bank for International Settlements Lucio Sarno; Cass Business School Elvira Sojli; Rotterdam School of Management, Erasmus University
Presented by: Elvira Sojli, Rotterdam School of Management, Erasmus University
The Role of Financial Variables in Prediciting Economic Activity
By Raphael A. Espinoza; IMF Fabio Fornari; European Central Bank Marco J. Lombardi; European Central Bank
Presented by: fabio fornari, European Central bank

Session 41: Games and Experiments
Session Organizer: Tatsuyoshi Saijo, Osaka University
Session Chair: Hajime Kobayashi, Osaka Prefecture University
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: S7
"Anti-Bernheim and Whinston Paradox"-Behavioral aspect in an experimental multimarket contact-
JEL codes: C72, C73, C91
By Kazuhito OGAWA; Faculty of economics, Osaka Sangyo University Tetsuya KAWAMURA; Kyoto University Tatsuya KIKUTANI; Graduate school of economics, Kyoto University Sobei H. ODA; Faculty of economics, Kyoto Sangyo University
Presented by: Kazuhito Ogawa, Osaka Sangyo University
Experiments on Emergence of Leadership in Teams
By Koji Abe; Kobe University Hajime Kobayashi; Osaka Prefecture University Hideo Suehiro; Kobe University
Presented by: Hajime Kobayashi, Osaka Prefecture University
Does Cooperation Exceed the Prediction of Game Theory? A Voluntary Contribution Mechanism Experiment with Interior Nash Equilibria
By Takehisa Kumakawa; Kyoto University Tatsuyoshi Saijo; Osaka University and UCLA Takehiko Yamato; Tokyo Institute of Technology
Presented by: Takehisa Kumakawa, Kyoto University

Session 42: Life Cycle Decisions and Policies
Session Organizer: Toni Braun,
Session Chair: Masao Ogaki, Ohio State University
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: C1
Who's afraid of population aging?
JEL codes: E62, E21, J18
By Alexander Ueberfeldt; Bank of Canada
Presented by: Alexander Ueberfeldt, Bank of Canada
The Household Revolution: Childcare, Housework, and Female Labor Force Participation
By Emanuela Cardia; universite de montreal Paul Gomme; Concordia University
Presented by: Emanuela Cardia, university of montreal
Tough Love and Intergenerational Altruism
By Vipul Bhatt; Department of Economics, Ohio State University Masao Ogaki; Department of Economics, Ohio State University
Presented by: Masao Ogaki, Ohio State University
Fertility and mortality changes in an overlapping-generations model with realistic demography
[slides]
By Sau-Him Paul Lau; University of Hong Kong
Presented by: Sau-Him Lau, University of Hong Kong

Session 43: Topics in Fiscal and Monetary Policy
Session Organizer: Toni Braun,
Session Chair: Bin Li, International Monetary Fund
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: F
Computing Optimal Sustainable Monetary Policy
JEL codes: E52; E58; E61
By Takeki Sunakawa; Ohio State University and Bank of Japan
Presented by: Takeki Sunakawa, Ohio State University and Bank of Japan
China’s Real Business Cycles between 1954 – 2006: Productivity and Policy Changes
By Min Zhaoa, National Graduate Institute for Policy Studies and World Bank Minchung Hsu, National Graduate Institute for Policy Studies (GRIPS)
Presented by: Minchung Hsu, National Grad Institute Policy Studies
Evaluating Structural Vector Autoregression Models in Monetary Economies
By Bin Li; Research Department; International Monetary Fund
Presented by: Bin Li, International Monetary Fund
Dynamic Stochastic General Equilibrium Models In a Liquidity Trap and Self-organizing State Space Modeling
By Koiti Yano; Economic and Social Research Institute
Presented by: Koiti Yano, Economic and Social Research Institute

Session 44: Time Series Econometrics I
Session Organizer: Joon Park, Texas A&M University
Session Chair: Bin Chen, University of Rochester
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: L7
Threshold Quantile Autoregressive Models
[slides]
JEL codes: C14, C22, C32
By Antonio Galvao; University of Illinois at Urbana-Champaign Gabriel Montes-Rojas; City University London Jose Olmo; City University London
Presented by: Gabriel Montes-Rojas, City University London
Semiparametric Testing for Changes in Memory of Otherwise Stationary Time Series
[slides]
By Adam McCloskey; Boston University
Presented by: Adam McCloskey, Boston University
Testing for Common Breaks in a Multiple Equations System
By Tatsushi Oka; Boston University Pierre Perron; Boston University
Presented by: Tatsushi Oka, Boston University
Estimation and Testing for Smooth Structural Changes in GARCH Models
By Bin Chen Department of Economics University of Rochester; Yongmiao Hong Department of Economics and Statistical Science Cornell University
Presented by: Bin Chen, University of Rochester

Session 45: Models of Banking
Session Organizer: Takeo Hoshi, University of California, San Diego
Session Chair: Zhiguo He, University of Chicago, GSB
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: L1
Dynamic Bank Runs
By Zhiguo He, University of Chicago Wei Xiong, Princeton University
Presented by: Zhiguo He, University of Chicago, GSB
Incentive to Issue Low Quality Securitized Products in the OTD Business Model
By Masazumi Hattori;Bank of Japan Kazuhiko Ohashi;Hitotsubashi University
Presented by: Masazumi Hattori, Bank of Japan
Banking Relationships and Conflicts of Interest: Evidence from the Korean Bank Reform
[slides]
By Wook Sohn; KDI School of Public Policy and Management
Presented by: Wook Sohn, KDI School of Public Policy & Management
Central Bank Haircut Policy
By James Chapman; Bank of Canada Jonathan Chiu; Bank of Canada Miguel Molico; Bank of Canada
Presented by: Jonathan Chiu, Bank of Canada

Session 46: Foreign Direct Investment
Session Organizer: Kazuharu Kiyono, Waseda University
Session Chair: Ichiroh Daitoh, Tohoku University
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: S9
Endogenous FDI Policy and External Tariff in a Free Trade Area under International Oligopoly
JEL codes: F15,
By Ichiroh Daitoh;GSICS/Tohoku University Akemi Kawamura;GSICS/Tohoku University
Presented by: Ichiroh Daitoh, Tohoku University
Foreign Direct Invesment and Business Cycle Co-movement: The Panel Data Evidence
By Jyun-Yi Wu, Department of Economics, National Central University; Ruey Yau, Department of Economics, National Central University; Chih-Chiang, Hsu, Department of Economics, National Central University
Presented by: Jyun-Yi Wu, National Central University
Endogenous FDI Spillovers with Spillover-Prevention Costs
By Kiyoshi Matsubara; Nihon University
Presented by: Kiyoshi Matsubara, Nihon University
FDI and Economic Growth: Revisiting the Role of Financial Market Development
By Chih-Chiang Hsu; National Central University Jyun-Yi Wu; National Central University
Presented by: Chih-Chiang Hsu, National Central University

Session 47: Repeated Games I
Session Organizer: Akihiko Matsui, University of Tokyo
Session Chair: Takako Fujiwara-Greve, Keio University
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: L8
Strategic Experimentation Free Equilibrium in Voluntarily Separable Repeated Prisoner's Dilemma
By Takako Fujiwara-Greve; Keio University Masahiro Okuno-Fujiwara; University of Tokyo Nobue Suzuki; Komazawa University
Presented by: Masahiro Okuno-Fujiwara, University of Tokyo
Cooperation in Repeated Prisoner's Dilemma with Outside Options
By Takako Fujiwara-Greve; Keio University Yosuke Yasuda; National Graduate Institute for Policy Studies (GRIPS)
Presented by: Takako Fujiwara-Greve, Keio University
Perfect Public Ex-post Equilibria of Repeated Games with Uncertain Outcomes
By Drew Fudenberg; Harvard University Yuichi Yamamoto; Harvard University
Presented by: Yuichi Yamamoto, Harvard University
Matching, Aspirations, and Long-Term Relationship
By In-Koo Cho; University of Illinois Akihiko Matsui; University of Tokyo
Presented by: In-Koo Cho, University of Illinois

Session 48: Strategic Analysis of Politics and Policy Making
Session Organizer: Atsushi Kajii, Kyoto University
Session Chair: Toyotaka Sakai, Yokohama National University
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: S8
Reform with Career Concerns
By Qiang FU; National University of Singapore Ming LI; Concordia University
Presented by: Ming Li, Concordia University
Freedom to Not Join: A Voluntary Participation Game of a Discrete Public Good
By Yukio Koriyama (Ecole Polytechnique)
Presented by: Yukio Koriyama, Ecole Polytechnique
An experimental study of implementing fair allocations
By Yuji Fujinaka; Tokyo Metropolitan University Toyotaka Sakai; Yokohama National University Shin Sakaue; Keio University
Presented by: Toyotaka Sakai, Yokohama National University

Session 49: Contract Theory I
Session Organizer: Hideshi Itoh, HITOTSUBASHI UNIVERSITY
Session Chair: Ines Macho-Stadler, Universitat Autonoma de Barcelona
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: L9
Option Package Bundling
[slides]
JEL codes: L11
By Takanori Adachi; Tokyo Institute of Technology Takeshi Ebina; Tokyo Institute of Technology Makoto Hanazono; Nagoya University
Presented by: Takeshi Ebina, Tokyo Institute of Technology
Commercial Incentives in R&D: Research versus Development
By Albert Banal-Estañol; City University of London Inés Macho-Stadler; Universitat Autònoma de Barcelona
Presented by: Ines Macho-Stadler, Universitat Autonoma de Barcelona
Public-Private Partnerships: Task Interdependence and Contractibility
By Bin Chen; School of Economics and Finance, The University of Hong Kong. Email: chinabin@hku.hk. Y. Stephen Chiu; School of Economics and Finance, The University of Hong Kong. Email: schiu@econ.hku.hk.
Presented by: Bin CHEN, University of Hong Kong
How Does Job Design Affect Productivity and Earnings? Implication of the Organization of Production
By Seongwuk Moon; KDI School of Public Policy and Management
Presented by: Seongwuk Moon, KDI School of Public Policy & Management

Session 50: Open Economy Dynamic General Equilibrium Models II
Session Organizer: Akihisa Shibata, Kyoto University
Session Chair: Junsang Lee, The Australian National University
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: S204
International Trade and a Public Intermediate Good in an Overlapping Generations Model
JEL codes: E20, F41, F43,
By Tsuyoshi Shinozaki; Faculty of Economics, Tohoku Gakuin University Makoto Tawada; Graduate School of Economics, Nagoya University Mitsuyoshi Yanagihara; Graduate School of Economics, Nagoya University
Presented by: Mitsuyoshi Yanagihara, Nagoya University
Intertemporal Distribution of Foreign Aid
By Koichi Y. Takase; Waseda University
Presented by: Koichi Takase, Waseda University
Growth Heterogeneity and International Environmental Agreements
By Licun Xue; McGill University Lingling Zhang; University of Rhode Island
Presented by: Licun Xue, private
MONEY, INTEREST, PRICES AND CAPITAL FLOWS
By TIMOTHY KAM; Australian National University JUNSANG LEE; Australian National University
Presented by: Junsang Lee, The Australian National University

Session 51: Empirical Studies on Innovative Activities
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Reiko Aoki, Hitotsubashi University
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: L6
Entrepreneurship and Advanced Technical Knowledge
JEL codes: M13
By Atsushi Ohyama; University of Illinois at Urbana-Champaign
Presented by: Atsushi Ohyama, University of Illinois at Urbana-Champaign
Intellectual Property Enforcement in the Internet Era: Evidence from Microsoft Office in Hong Kong
By Tin Cheuk Leung; University of Minnesota
Presented by: Tin Cheuk Leung, University of Minnesota
Financial incentives, state dependence, and heterogeneity: diffusion of post-patent pharmaceuticals
By Toshiaki Iizuka; Keio University
Presented by: Toshiaki Iizuka, Keio University
Reforms of Patent Examination Request System in Japan: Some Lessons
By Isamu Yamauchi: National Institute of Science and Technology Policy Sadao Nagaoka; Institute of Innovation Research, Hitotsubashi University
Presented by: sadao nagaoka, Hitotsubashi University

Session 52: Panel Data and Spatial Models I
Session Organizer: Xiaohong Chen, Yale University
Session Chair: Takashi Yamagata, University of York
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: L3
Testing for Cross-sectional Dependence in Fixed Effects Panel Data Models
JEL codes: C13;
By Badi H. Baltagi; Syracuse University Qu Feng; Syracuse University Chihwa Kao; Syracuse University
Presented by: Chihwa Kao, Syracuse University
Comparison of Estimators for Spatial Error Models
By Saruta Benjanuvatra; University of York
Presented by: Saruta Benjanuvatra, University of York
A Unified Estimation Approach for Spatial Dynamic Panel Data Models: Stability, Spatial Cointegration and Explosive Roots
By Lung-fei Lee; Ohio State University Jihai Yu; University of Kentucky
Presented by: Jihai Yu, University of Kentucky
Panels with Nonstationary Multifactor Error Structures
By George Kapetanios; Queen Mary, University of London M. Hashem Pesaran; Cambridge University and USC Takashi Yamagata; University of York
Presented by: Takashi Yamagata, University of York

Session 53: Financial Markets
Session Organizer: Shinichi Fukuda,
Session Chair: Saroj Bhattarai, Department of Economics
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: C2
EXTREME NEWS EVENTS, LONG-MEMORY VOLATILITY, AND TIME VARYING RISK PREMIA IN STOCK MARKET RETURNS
JEL codes: C32, C53, G13
By Wing H. Chan; Wilfrid Laurier University Liling Feng; City University of Hong Kong
Presented by: Liling FENG, City University of Hong Kong
Hedging against the government: A solution to the home asset bias puzzle
By Saroj Bhattarai; Princeton University Tiago Berriel; Princeton University
Presented by: Saroj Bhattarai, Department of Economics
The International Diversification Puzzle is not Worse Than You Think
By Christian Julliard; Department of Economics; London School of Economics Carlo Rosa; CORE; Université catholique de Louvain
Presented by: Carlo Rosa, CORE
Hedging Ideally with Realized Covariance
By Jin-Huei Yeh; National Central University Chih-Wei Huang; National Central University Chih-Chiang Hsu; National Central University
Presented by: Jin-Huei Yeh, National Central University

Session 54: Stepping Stone and Hours of Work
Session Organizer: Siu Fai Leung, Hong Kong University of Science and Technology
Session Chair: Kazuaki Okamura, Kochi University
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: L4
Are Contingent Jobs Dead Ends or Stepping Stones to Regular Jobs? Evidence from a Structural Estimation
By Julen Esteban-Pretel, University of Tokyo Ryo Nakajima, University of Tsukuba Ryuichi Tanaka, Tokyo Institute of Technology
Presented by: Ryuichi Tanaka, Tokyo Institute of Technology
Labor Market Responses to Legal Work Hour Reduction: Evidence from Japan
By Daiji Kawaguchi; Hitotsubashi University Hisahiro Naito; The University of Tsukuba Izumi Yokoyama; The University of Michigan
Presented by: Daiji Kawaguchi, Hitotsubashi University
How are the hours of work affected by regulations?: White-collar exemption and ‘name-only’ store manager in Japan
By Sachiko Kuroda; The University of Tokyo Isamu Yamamoto; Keio University
Presented by: Isamu Yamamoto, Keio University
State Dependence in a Multinominal-State Labor Force Participation of Married Women in Japan
By Kazuaki Okamura; Kochi University, Japan Nizamul Islam; CEPS/INSTEAD, Luxenbourg
Presented by: Kazuaki Okamura, Kochi University

Session 55: Applications of Time Series Methods
Session Organizer: Joon Park, Texas A&M University
Session Chair: Takamitsu Kurita, Fukuoka University
Session type: contributed
Date: August 3, 2009
Time: 14:30 - 15:50
Location: S12
Similar Cities vs. Nearby Cities: A Spatial Econometric Approach to MSA Level Housing Returns
By Lexian Liu; The Ohio State University Wei Wang; The Ohio State University
Presented by: Wei Wang, The Ohio State University
The Seeds of the Current Crisis -- the Housing Market and the Business Cycle
By MARCELLE CHAUVET;University of California,Riverside MEICHI HUANG;University of California, Riverside
Presented by: MeiChi Huang, UC, Riverside
Modelling Time Series Data of Monetary Aggregates Using I(2) and I(1) Cointegration Analysis
By Takamitsu Kurita Faculty of Economics, Fukuoka University
Presented by: Takamitsu Kurita, Fukuoka University

Session 56: Invited Lecture: Faruk R. Gul: A Theory of Measurable Ambiguity
Session Organizer: ,
Session Chair: Hitoshi Matsushima, University of Tokyo
Session type: invited
Date: August 3, 2009
Time: 16:5 - 17:05
Location: L1

Session 57: Invited Lecture: David Weir: Longitudinal Studies of Health and Retirement
Session Organizer: ,
Session Chair: Hidehiko Ichimura, University of Tokyo
Session type: invited
Date: August 3, 2009
Time: 16:5 - 17:05
Location: Y

Session 58: Invited Lecture: Han Hong: Econometric Models of Dynamic Discrete Games
Session Organizer: ,
Session Chair: Yoshihiko Nishiyama, Kyoto University
Session type: invited
Date: August 3, 2009
Time: 16:5 - 17:05
Location: F

Session 59: Horiba Lecture: Daniel McFadden: Selection Kills Variety! A Forensic Analysis of the Prescription Drug Insurance Market
Session Organizer: ,
Session Chair: Hidehiko Ichimura, University of Tokyo
Session type: invited
Date: August 3, 2009
Time: 17:20 - 18:20
Location: Y

Session 60: Financial economic theory I
Session Organizer: Makoto Saito, Hitotsubashi University
Session Chair: Du Du, Hong Kong University of Science and Tech
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: S204
General Formulas for Valuing Stocks and Bonds with Structural Changes
JEL codes: C60, G12, G13
By Du Du; Hong Kong University of Science and Technology
Presented by: Du Du, Hong Kong University of Science and Tech
A Macro-Financial Approach to Derivative Volumes
By Francois LE GRAND; Emlyon Business School Xavier RAGOT; Banque de France
Presented by: Francois Le Grand, EMLyon Business School
Arbitrage Opportunities: a Blessing or a Curse?
By Roman Kozhan; University of Warwick Wing Wah Tham; Erasmus School of Economics
Presented by: Wing Wah Tham, Erasmus University of Rotterdam
The Role of Nonseparable Utility and Nontradables in International Portfolio Choice
[slides]
By Akito Matsumoto; International Monetary Fund
Presented by: Akito Matsumoto, International Monetary Fund

Session 61: Business Cycles I
Session Organizer: Tomoyuki Nakajima, Kyoto University
Session Chair: Jang-Ting Guo, University of California, Riverside
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: L1
Indeterminacy with No-Income-Effect Preferences and Sector-Specific Externalities
JEL codes: E30, E32.
By Jang-Ting Guo; University of California Riverside Sharon G. Harrison; Barnard College, Columbia University
Presented by: Jang-Ting Guo, University of California, Riverside
Lending Constraints, Real Estate Prices and Business Cycles in Emerging Economies
By Raoul Minetti; Michigan State University; Tao Peng; Southwestern University of Finance and Economics
Presented by: Tao Peng, Southwestern University of Finance and Economics
Can News Be a Major Source of Aggregate Fluctuations? A Bayesian DSGE Approach
[slides]
By Ippei Fujiwara; Bank of Japan Yasuo Hirose; Bank of Japan Mototsugu Shintani; Vanderbilt University
Presented by: Yasuo Hirose, Bank of Japan

Session 62: Labor Market Dynamics
Session Organizer: Toni Braun,
Session Chair: Takanori Adachi, Tokyo Institute of Technology
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: F
Training or Search? Evidence and an Equilibrium Model
JEL codes: E24;J08;J45
By Jun Nie New York University/Kansas City Fed
Presented by: Jun Nie, NYU
TFP Growth Slowdown and the Japanese Labor Market in the 1990s
By Julen Esteban-Pretel; University of Tokyo Ryo Nakajima; University of Tsukuba Ryuichi Tanaka; Tokyo Institute of Technology
Presented by: Julen Esteban-Pretel, University of Tokyo
Worker Flows and Job Flows: A Quantitative Investigation
By Shigeru Fujita; Federal Reserve Bank of Philadelphia Makoto Nakajima; Federal Reserve Bank of Philadelphia
Presented by: Shigeru Fujita, Federal Reserve Bank of Philadelphia
A Life-Cycle Model of Entrepreneurial Choice: Understanding Entry into and Exit from Self-Employment
By Takanori Adachi; Tokyo Institute of Technology
Presented by: Takanori Adachi, Tokyo Institute of Technology

Session 63: Political Economy II
Session Organizer: Toshihiro Ihori, University of Tokyo
Session Chair: Suchan Chae, Seoul National university
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: L2
Partially Binding Platforms and the Advantages of Being an Extreme Candidate
JEL codes: C72, D72, D82
By Yasushi Asako; University of Wisconsin-Madison
Presented by: Yasushi Asako, University of Wisconsin-Madison
The Evolution of Dictatorship
By Yinan Li Department of Economics Stockholm University
Presented by: Yinan Li, Stockholm University
Contract Enforcement: A Political Economy Model of Legal Development
[slides]
By Fali Huang Singapore Management University
Presented by: Fali Huang, Singapore Management University
Public Good Provision by Bargaining
By Suchan Chae Seoul National University
Presented by: Suchan Chae, Seoul National university

Session 64: Time Series Econometrics II
Session Organizer: Joon Park, Texas A&M University
Session Chair: Hui Zhu, Queen's University
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: L7
Nonparametric Orthogonality Tests in the Presence of MA Disturbances with an Application of the Expectations Hypothesis
[slides]
JEL codes: C14,F37
By Seongman Moon, Universidad Carlos III de Madrid; Carlos Velasco, Universidad Carlos III de Madrid;
Presented by: Carlos Velasco, Universidad Carlos III de Madrid
Multi-step Forecasting and Predictive Regressions
[slides]
By Guillaume Chevillon; ESSEC Business School and CREST-INSEE, Paris
Presented by: Guillaume Chevillon, ESSEC, Paris
Updating Forecasts in Vector Autoregression Models with an Application to the Canadian Banking Industry
By Julia Hui Zhu; University of Calgary Allan W. Gregory; Queen's University
Presented by: Hui Zhu, Queen's University

Session 65: Inputs and Technologies in Production
Session Organizer: Kazuharu Kiyono, Waseda University
Session Chair: Akihito Asano, The Australian National University
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: S9
The nature of inferior inputs
JEL codes: D24
By Akihito Asano; School of Economics, The Australian National University
Presented by: Akihito Asano, The Australian National University
Non-Separability and Substitutability among Water Pollutants: Evidence from India
By Surender Kumar; Department of Policy Studies TERI University, 10, Institutional Area, Vasant Kunj, New Delhi 110070, India and Shunsuke Managi; Faculty of Business Administration, Yokohama National University, 79-4, Tokiwadai, Hodogaya-ku, Yokohama 240-8501 Japan
Presented by: Surender Kumar, TERI University
The Indian Business Process Outsourcing Industry: An Evaluation of Firm-Level Performance
By Arti Grover, Delhi School of Economics
Presented by: Arti Grover, Delhi School of Economics

Session 66: Game Theory I
Session Organizer: Akihiko Matsui, University of Tokyo
Session Chair: Yuichiro Kamada, Harvard University
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: L8
Honesty vs. White Lies
[slides]
JEL codes: C72, D82, D83
By Kyungmin Kim, Hong Kong University of Science and Technology Jonathan Pogach, University of Pennsylvania
Presented by: KyungMin Kim, Hong Kong University of Science and Technology
Multidimensional Cheap Talk with Sequential Messages
[slides]
By Shintaro Miura Graduate School of Economics, Washington University in St. Louis
Presented by: SHINTARO MIURA, Washington University in St. Louis
Hierarchical cheap talk
By Attila Ambrus; Harvard University Eduardo Azevedo; Harvard University Yuichiro Kamada; Harvard University
Presented by: Yuichiro Kamada, Harvard University

Session 67: Microeoconimc Theory II
Session Organizer: Kazuya Kamiya, UNIVERSITY OF TOKYO
Session Chair: Naoki Yoshihara, Institute of Economic Research
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: S8
Note on Age, Wage and Suicide: Impacts of Wage Uncertainty on Suicide
JEL codes: I19, D91, D81
By Tomoya Suzuki; Faculty of Economics, Kansai University
Presented by: Tomoya Suzuki, Kansai University
Injustice of exploitation: an axiomatic approach
By Naoki Yoshihara, Institute of Economic Research, Hitotsubashi University Roberto Veneziani, Department of Economics, University of London at Queen Mary
Presented by: Naoki Yoshihara, Institute of Economic Research
Temptation and Self-Control: A Corrigendum
By Koji Abe; Kobe University
Presented by: Koji Abe, Kobe University

Session 68: Contract Theory II
Session Organizer: Hideshi Itoh, HITOTSUBASHI UNIVERSITY
Session Chair: Bo Chen, Southern Methodist University
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: L9
A Theory of Offshoring and Outsourcing Based on Agency Costs
JEL codes: D86
By Y. Stephen Chiu, School of Economics and Finance, the University of Hong Kong Eric S. Chou, Department of Economics, the National Tsing Hua University, Hsinchu, Taiwan
Presented by: Eric Chou, National Tsing Hua University
Optimal Time-Contingent Contract Design
By Bo Chen; Dept of Economics; Southern Methodist University; Zaifu Yang; Faculty of Business Administration; Yokohama National University
Presented by: Bo Chen, Southern Methodist University
Relational Political Contribution under Common Agency
By Akifumi Ishihara London School of Economics and Political Science
Presented by: Akifumi Ishihara, LSE
Optimal Efficiency Wage Contracts with Subjective Evaluation
By Jimmy Chan; Shanghai University of Finance and Economics Bingyong Zheng; Shanghai University of Finance and Economics
Presented by: Jimmy Chan, The Shanghai School of Finance and Econo

Session 69: Auction I
Session Organizer: Shigehiro Serizawa, Osaka University
Session Chair: Liang Zou, University of Amsterdam
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: S7
Bidding Strategy in Proxied Package Auctions with Complementarities
JEL codes: D44, D82
By Ryuji Sano; Graduate School of Economics, The University of Tokyo
Presented by: Ryuji Sano, The University of Tokyo
First and Second Price Mechanisms in Procurement Auctions
By Vlad Mares; Kellogg School of Management Jeroen Swinkels; Olin School of Business
Presented by: Vlad Mares, Northwestern University
Efficient Auctions of Risky Asset to Heterogeneous Risk Averse (Preferring) Buyers
[slides]
By Audrey Hu; University of Amsterdam/Tinbergen Institute Liang Zou; University of Amsterdam Business School
Presented by: Liang Zou, University of Amsterdam
Worst-case mechanism design with undominated strategies
By Takuro Yamashita; Stanford University
Presented by: Takuro Yamashita, Stanford University

Session 70: Empirical Analysis of Growth Models
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Thanh Le, University of Queensland, Australia
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: C1
Financial globalization, convergence and growth
[slides]
JEL codes: O47, F21, F43
By Francisco José Veiga; University of Minho (Portugal) Delfim Gomes Neto; University of Minho (Portugal)
Presented by: Francisco Veiga, Universidade do Minho
Remittances or technological diffusion: Which is more important for the development of developing countries?
By Thanh Le; School of Economics, The University of Queensland, Brisbane QLD 4072, Australia. Philip Bodman; School of Economics, The University of Queensland, Brisbane QLD 4072, Australia.
Presented by: Thanh Le, University of Queensland, Australia
Natural Resource Dependence, Non-Tradables, and Economic Growth
By Universitat Pompeu Fabra, Universitat Barcelona
Presented by: Markus Bruckner, Universitat Pompeu Fabra
Why is Chinese Regional Output Diverging? An Econometric Analysis
[slides]
By David L. Edgerton; Lund University, Sweden Joakim Westerlund; Lund University, Sweden Sonja Opper; Lund University, Sweden
Presented by: David Edgerton, Lund University

Session 71: Empirical Studies on Firm Behavior and Market Structure
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Jozsef Molnar, Uk Competition Commission
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: L6
The Empirical Consequences of Advertising Content in the Hungarian Mobile Phone Market
By Greg Crawford; University of Warwick Jozsef Molnar; UK Competition Commission
Presented by: Jozsef Molnar, Uk Competition Commission
Testing Models of Consumer Search using Data on Web Browsing and Purchasing Behavior
By Babur De los Santos; Indiana University Ali Hortaçsu; University of Chicago Matthijs Wildenbeest; Indiana University
Presented by: Matthijs Wildenbeest, Indiana University
Quantitative Evaluation of Determinants of Export and FDI: Firm-Level Evidence from Japan
By Yasuyuki Todo; University of Tokyo
Presented by: Yasuyuki Todo, University of Tokyo

Session 72: Estimation and Inference under Misspecification
Session Organizer: Xiaohong Chen, Yale University
Session Chair: Christopher Parmeter, Virginia Tech
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:00
Location: L3
Optimal Comparison of Misspecified Moment Restriction Models
JEL codes: C12; C14; C52
By Vadim Marmer; University of British Columbia Taisuke Otsu; Yale University
Presented by: Vadim Marmer, University of British Columbia
GEL Specification Test Robust to Local Misspecification
By Haiqi Li; The Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, Fujian, China. Sung Y. Park; The Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, Fujian, China.
Presented by: Haiqi Li, Xiamen University
Data-Driven Model Evaluation: A Test for Revealed Performance
By Jeffrey S. Racine; McMaster University Christopher F. Parmeter; Virginia Polytechnic Institute and State University
Presented by: Christopher Parmeter, Virginia Tech

Session 73: Semi and Nonparametric Methods I
Session Organizer: Xiaohong Chen, Yale University
Session Chair: Qingfeng Liu, Otaru University of Commerce
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: S10
Threshold Regression Without Distribution Assumption when the Threshold Variable Is Endogenous
JEL codes: C13, C14, C51
By Hung-Pin Lai; Department of Economics, National Chung Cheng University; Chang-Ching Lin; Institute of Economics, Academia Sinica.
Presented by: Chang-Ching Lin, Academia Sinica
Survival of the Smartest: Robust Rank-based Regression model for truncated data
By Aurobindo Ghosh; Singapore Management University
Presented by: Aurobindo Ghosh, Singapore Management University
Difference-based Estimation for Semiparametric Varying-Coefficient Partially Linear Models
By Qingfeng Liu; Otaru University of Commerce Yichao Wu; North Carolina State University Jianqing Fan; Princeton University
Presented by: Qingfeng Liu, Otaru University of Commerce

Session 74: Asian Economy after the Crisis
Session Organizer: Shinichi Fukuda,
Session Chair: Woosik Moon, Seoul National University
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: C2
Between Two Whales: Korea's Choice in the Post-Crisis Era?
JEL codes: F13,F15,F39
By Joon-Kyung Kim; KDI School of Public Policy and Management Chung H. Lee; University of Hawaii at Manoa
Presented by: Joon-Kyung Kim, KDI School of Public Policy and Manageme
Saving, Investment and Current Account Surplus in Developing Asia
By DONGHYUN PARK; ASIAN DEVELOPMENT BANK KWANHO SHIN; KOREA UNIVERSITY
Presented by: Donghyun Park, Asian Development Bank
Foreign Ownership and Performance of Banks: The Case of Korea
By Woosik Moon; Seoul National University
Presented by: Woosik Moon, Seoul National University

Session 75: IV Estimation
Session Organizer: Yuichi Kitamura, Yale University
Session Chair: Long Liu, University of Texas at San Antonio
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: S203
Identification and GMM Estimation of Social Interaction Models with Centrality
JEL codes: C13, C21
By Xiaodong Liu; University of Colorado at Boulder Lung-fei Lee; Ohio State University
Presented by: Xiaodong Liu, University of Colorado at Boulder
An Optimal Modification of the LIML Estimation for Many Instruments and Persistent Heteroscedasticity
By Naoto Kunitomo Graduate School of Economics, University of Tokyo, Bunkyo-ku, Hongo 7-3-1 Tokyo, JAPAN, kunitomo@e.u-tokyo.ac.jp
Presented by: Naoto Kunitomo, University of Tokyo
Specification Test for Instrumental Variables Regression with Many Instruments
By Yoonseok Lee; University of Michigan Ryo Okui; Hong Kong University of Science and Technology
Presented by: Ryo Okui, Kyoto University
Consistent Estimation with Weak Instruments in Panel Data
By Chihwa Kao; Syracuse University Long Liu; University of Texas at San Antonio
Presented by: Long Liu, University of Texas at San Antonio

Session 76: Macro Labor
Session Organizer: Siu Fai Leung, Hong Kong University of Science and Technology
Session Chair: Thomas Wagner, University of Applied Sciences Nuernberg
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: L4
Asymmetric Information, Wage Dispersion and Unemployment Fluctuations
By Ng. Ha Dao; University of Quebec at Montreal
Presented by: Ng. Ha Dao, University of Quebec at Montreal
The dynamic effects of shocks to wages and prices in the United States and the Euro Area
By Rita Duarte; Banco de Portugal Carlos Robalo Marques; Banco de Portugal
Presented by: Carlos Marques, Banco de Portugal
Do Eligibility Criteria for Unemployment Benefits Influence Unemployment?
By Thomas Wagner, University of Applied Sciences Nuremberg, Germany; Elke J. Jahn, Aarhus University, Denmark
Presented by: Thomas Wagner, University of Applied Sciences Nuernberg
Real Wages and the Business Cycle: Accounting for Worker and Firm
By Anabela Carneiro ; Universidade do Porto Paulo Guimarães ;University of South Carolina Pedro Portugal ; Banco de Portugal
Presented by: Pedro Portugal, Banco de Portugal

Session 77: Analysis of Financial Time Series
Session Organizer: Joon Park, Texas A&M University
Session Chair: Yin Liao, Australian National University
Session type: contributed
Date: August 4, 2009
Time: 9:00 - 10:20
Location: S12
Volatility Modelling with Heterogeneous Impulse Response Function: Introducing Non-parametric Jumps into the FIEGARCH Model
By PING-CHEN TSAI; Department of Accounting and Finance, Lancaster University Management School, United Kindom
Presented by: PING CHEN TSAI, Lancaster University
Separating Risk due to Diffusion, Positive Jumps, and Negative Jumps
By Stefan Klößner; Saarland University
Presented by: Stefan Klößner, Saarland University
On regression with variance built-in mean regression function: a new financial model
By Lu Lin; School of Mathematics Feng Li; School of Mathematics Lixing Zhu; Hong Kong Baptist University
Presented by: Lu Lin, Shandong University
Does Decomposing Realized Volatility Help in Risk Measure Prediction: Evidence From Chinese Mainland Stock Market
[slides]
By Yin Liao School of Economics Australian National University
Presented by: Yin Liao, Australian National University

Session 78: Invited Lecture: Hyun Song Shin: The Post-Crisis Financial System
Session Organizer: ,
Session Chair: Atsushi Kajii, Kyoto University
Session type: invited
Date: August 4, 2009
Time: 10:35 - 11:35
Location: H

Session 79: Invited Lecture: Dean Karlan: Field Experiments in Microfinance
Session Organizer: ,
Session Chair: Yasuyuki Sawada, University of Tokyo
Session type: invited
Date: August 4, 2009
Time: 10:35 - 11:35
Location: L6

Session 80: Invited Lecture: Christopher Sims: Bayesian Inference with Weak Assumptions
Session Organizer: ,
Session Chair: Michio Hatanaka,
Session type: invited
Date: August 4, 2009
Time: 10:35 - 11:35
Location: L1

Session 81: Invited Lecture: Jean-Marc Robin: Business Cycle Dynamics of Earnings Inequality
Session Organizer: ,
Session Chair: Daiji Kawaguchi, Hitotsubashi University
Session type: invited
Date: August 4, 2009
Time: 10:35 - 11:35
Location: F

Session 82: Social Security II
Session Organizer: Toshihiro Ihori, University of Tokyo
Session Chair: Cagri Kumru, University of New South Wales
Session type: contributed
Session JEL code: H55
Date: August 4, 2009
Time: 11:50 - 13:10
Location: C1
An Analysis of Means Tested Social Pensions
JEL codes: E21, H55
By Cagri Kumru; University of New South Wales John Piggott; University of New South Wales
Presented by: Cagri Kumru, University of New South Wales
Public Pension Reforms and Private Savings
[slides]
By Minki Hong; Korea Labor Institute
Presented by: Minki Hong, Korea Labor Institute
Workplace Disability Diversity and Job-related Well-being in Britain: a WERS2004 based analysis
By Getinet Haile; Policy Studies Institute, University of Mannheim and IZA
Presented by: Getinet Haile,

Session 83: Financial economics
Session Organizer: Makoto Saito, Hitotsubashi University
Session Chair: Sadayuki Ono, University of York
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: S204
Term Structure Dynamics in a Monetary Economy with Learning
[slides]
JEL codes: G12, E43, D83.
By Sadayuki Ono; University of York
Presented by: Sadayuki Ono, University of York
Should the optimal portfolio be region-specific? a multi-region model with monetary policy and asset price co-movements
By Charles Ka Yui Leung City University of Hong Kong; Wing Leong Teo National Taiwan University
Presented by: Charles Leung, City University of Hong Kong
An Inelastic Demand Curve for Stocks
By Jinliang Li; Tsinghua University Li Liao; Tsinghua University Hongbo Shen; Fudan University
Presented by: Jinliang Li, Tsinghua University
Trading Volume, Returns and Option Expiration Date
By Chin-Han Chiang Columbia University
Presented by: CHIN-HAN CHIANG, Columbia University

Session 84: Growth and Development
Session Organizer: Tomoyuki Nakajima, Kyoto University
Session Chair: Yong Wang, University of Chicago
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: L1
Knowledge Diffusion and the Japanese Growth Miracle
JEL codes: E1, O4, O53
By Atsushi Oshima; University of Iowa
Presented by: Atsushi Oshima, University of Iowa
Technology Assimilation and Growth
By Tsz-Nga Wong, Department of Economics, Washington University at St. Louis, USA; Chong K. Yip, Department of Economics, The Chinese University of Hong Kong, Hong Kong
Presented by: Chong K. Yip, Chinese University of Hong Kong
Endogenous Inequality of Nations through Fianacial Asset market Integration
By Volker Boehm; Bielefeld University George Vachadze; Bielefeld University
Presented by: Volker Bohm,
Institutional Barrier, Learning Externality and Catching Up
By Yong Wang University of Chicago and Hong Kong University of Science and Technology
Presented by: Yong Wang, University of Chicago

Session 85: Applied Time Series
Session Organizer: Joon Park, Texas A&M University
Session Chair: Giovanni Urga, Cass Business School
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: S12
Forecasting Time-varying Densities of In ation Rates: A Functional Autoregressive Approach
JEL codes: C14, C53, E31.
By Kausik Chaudhuri, Leeds University Business School; Minjoo Kim, Leeds University Business School;
Presented by: Yongcheol Shin,
A Panel Data Stochastic Frontier Model with Autocorrelated Inefficiency
By Debdas Bandyopadhyay and Arabinda Das Department of Statistics University of Kalyani Kalyani-741 235 West Bengal India Ara
Presented by: Debdas Bandyopadhyay, University of Kalyani
True vs. Spurious Long Memory: A Monte Carlo Study with an Application to Credit Data
By Giovanni Urga, Cass Business School, London (UK) and Bergamo University (Italy) Arturo Leccadito, Universita' della Calabria (Italy)
Presented by: Giovanni Urga, Cass Business School

Session 86: Game Theory II
Session Organizer: Akihiko Matsui, University of Tokyo
Session Chair: Satoru Takahashi, Princeton University
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: L8
Downsian model with asymmetric information: Possibility of policy divergence
By Kazuya Kikuchi; Graduate School of Economics, Hitotsubashi University
Presented by: Kazuya Kikuchi, Hitotsubashi University
Fishy Gifts: Bribing with Shame and Guilt
[slides]
By David Ong; University of California, Davis
Presented by: David Ong, University of California, Davis
Interdependent Preferences and Strategic Distinguishability
By Stephen Morris; Princeton University Satoru Takahashi; Princeton University
Presented by: Satoru Takahashi, Princeton University

Session 87: Financial Contract
Session Organizer: Noriyuki Yanagawa, University of Tokyo
Session Chair: Celine Rochon, University of Oxford
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: L9
From search to match: when loan contracts are too long
JEL codes: D82, D83, G21
By Christophe Chamley; Boston University Celine Rochon; University of Oxford
Presented by: Celine Rochon, University of Oxford
Asymmetric Information, Delay Costs and Choice of Workout under Financial Distress
By Sanjay Banerji Reader, Essex Business School University of Essex, Wivenhoe Park Colchester, CO4 3SQ, United Kingdom; Pinaki Bose Department of Economics Fogelman College of Business and Economics University of Memphis Memphis, TN 38152
Presented by: Sanjay Banerji,
Enforceability of Trade Credit Contracts, its Externality and Cash Demand: A Case of China
By Mariko Watanabe; Institute of Developing Economies Noriyuki Yanagawa; University of Tokyo Seiro Itoh; Institute of Developing Economies
Presented by: Mariko Watanabe, Institute of Developing Economies
Modeling Deposit Outflow in Financial Crises: Application to Branch Management and Customer Relationship Management
By Katsutoshi Yada;RISS, Kansai University Takashi Washio;ISIR,Osaka University, Yasuharu Ukai;RISS, Kansai University
Presented by: Yasuharu Ukai, Kansai University

Session 88: Mechanism Design
Session Organizer: Shigehiro Serizawa, Osaka University
Session Chair: Takashi Kunimoto, McGill University
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: S7
On Efficient Partnership Dissolution under Ex Post Individual Rationality
JEL codes: D02, D40, D44,
By Stefano Galavotti; Department of Decision Mathematics, University of Florence Nozomu Muto; Graduate School of Economics, Hitotsubashi University Daisuke Oyama; Graduate School of Economics, Hitotsubashi University, and Paris School of Economics
Presented by: Nozomu Muto, Hitotsubashi University
Robust Virtual Implementation with Incomplete Information: Towards a Reinterpretation of the Wilson Doctrine
By Georgy Artemov, Department of Economics, the University of Melbourne, Australia Takashi Kunimoto, Department of Economics, McGill University and CIREQ, Montreal, Quebec, Canada Roberto Serrano, Department of Economics, Brown University, Providence, RI, U.S.A. and IMDEA-Social Sciences, Madrid, Spain
Presented by: Takashi Kunimoto, McGill University
Strategic Behavior in Matching Markets
By Peter Coles; Harvard Business School
Presented by: Peter Coles, Harvard Business School
Implementation of the Core in Two-Sided Matching with Substitutable Contracts
By Masahiro Watabe; Washington University in St. Louis, Department of Economics
Presented by: Masahiro Watabe, Washington University in St. Louis

Session 89: Political Economy of Development
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Nicolas Depetris Chauvin, OxCarre, University of Oxford
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: L7
Do gender quotas influence women's representation and policies?
By Li-Ju Chen; Stockholm University
Presented by: Li-Ju Chen, Feng Chia University
DOES DEMOCRACY EXPLAIN GENDER DIFFERENTIALS IN EDUCATION?
[slides]
By Arusha Cooray; University of Wollongong
Presented by: Arusha Cooray, University of Wollongong
The Effects of Conflict on the Structure of the Economy
[slides]
By Nicolas Depetris Chauvin; Dubai School of Government
Presented by: Nicolas Depetris Chauvin, OxCarre, University of Oxford

Session 90: Regulation and Antitrust Issues
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Wenzhang Zhang, Shanghai University of Finance and Economics
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: S9
Complete Foreclosure with Multiple Vertically Integrated Firms
[slides]
JEL codes: L13, L24, L42
By Johan Hombert; CREST-ENSAE Jerome Pouyet; Paris School of Economics and Ecole Polytechnique Nicolas Schutz; Ecole Polytechnique and Paris School of Economics
Presented by: Nicolas Schutz, Ecole Polytechnique
Residual Claimancy and Monitoring for Regulating Multiple Agents
By Shigemi Oba;Graduate School of Economics Nihon University Shinji Kobayashi;Graduate School of Economics Nihon University
Presented by: Shigemi Oba, Nihon University
Buy-backs, Price Wars, and Collusion Enforcement
By Jimmy Chan; Shanghai University of Finance and Economics Wenzhang Zhang; Shanghai University of Finance and Economics
Presented by: Wenzhang Zhang, Shanghai University of Finance and Economics

Session 91: Semi and Nonparametric Methods II
Session Organizer: Xiaohong Chen, Yale University
Session Chair: Martin Burda, University of Toronto
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: L3
Nonstandard Estimation of Inverse Conditional Density-Weighted Expectations
JEL codes: C14, C21, C24
By Chuan Goh; University of Toronto
Presented by: Chuan Goh, University of Toronto
Nonparametric Least Squares Estimation in Derivative Families
[slides]
By Peter Hall; University of Melbourne Adonis Yatchew; University of Toronto
Presented by: Adonis Yatchew, UNIVERSITY OF TORONTO
Empirical Likelihood for Regression Discontinuity Design
By Taisuke Otsu; Yale University Ke-Li Xu ; University of Alberta School of Business
Presented by: Ke-Li Xu, University of Alberta School of Business
Understanding Choice Intensity: A Poisson Mixture Model with Logit-based Random Utility Selective Mixing
By Martin Burda; University of Toronto Matthew Harding; Stanford University Jerry Hausman; MIT
Presented by: Martin Burda, University of Toronto

Session 92: Panel Data and Spatial Models II
Session Organizer: Xiaohong Chen, Yale University
Session Chair: Kentaro Akashi, The Institute of Statistical Mathmatics
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: S10
INSTRUMENTAL VARIABLE AND GMM ESTIMATION FOR PANEL DATA WITH MEASUREMENT ERROR
JEL codes: C13, C14, C23
By Zhiguo Xiao; Fudan University Jun Shao; University of Wisconsin-Madison Mari Palta; University of Wisconsin-Madison
Presented by: Zhiguo Xiao, Fudan University
Sensitivity of GLS Estimators in Random Effects Models
[slides]
By A. Vasnev; University of Sydney
Presented by: Andrey L. Vasnev, University of Sydney
t-Test in Dynamic Panel Structural Equations
By Kentaro Akashi; The Institute of Statistical Mathematics, Risk Analysis Research Center
Presented by: Kentaro Akashi, The Institute of Statistical Mathmatics

Session 93: Capital Accumulation and Economic Growth
Session Organizer: Shinichi Fukuda,
Session Chair: Ebrahim Rahbari, London Business School
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: C2
Foreign Direct Investment and Foreign Portfolio Investment under Asymmetric Information
By Ruanjai Suwantaradon; Singapore Management University
Presented by: Ruanjai Suwantaradon, Singapore Management University

Session 94: Price Determination in Open Economy
Session Organizer: Shinichi Fukuda,
Session Chair: Etsuro Shioji, Hitotsubashi University
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: F
Understanding Law of One Price Deviations: Local Distribution Services and Price Discrimination
By Chikako Baba; University of Wisconsin-Madison
Presented by: Chikako Baba, University of Wisconsin - Madison
Shocks and Incomplete Exchange Rate Pass-through in Japan:Evidence from an Open Economy DSGE Model
By Etsuro Shioji; Hitotsubashi University Vu Tuan Khai; Seikei University Hiroko Takeuchi; Graduate student, Yokohama National University
Presented by: Etsuro Shioji, Hitotsubashi University
Market share and exchange rate pass-through: Competition among Exporters of same nationality
By Yushi Yoshida; Kyushu Sangyo University
Presented by: Yushi Yoshida, Kyushu Sangyo University

Session 95: Semi and Nonparametric Methods III
Session Organizer: Yuichi Kitamura, Yale University
Session Chair: Mehmet Caner, North Carolina State University
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: S203
An Alternative Way of Computing Efficient Instrumental Variable
[slides]
JEL codes: C12,;C13;C14
By Xiaohong Chen; Yale University David T. Jacho-Chavez; Indiana University Oliver B. Linton; London School of Economics
Presented by: David Jacho-Chavez, Indiana University
Nonparametric Identification and Estimation of Multivariate Mixtures
By Hiroyuki Kasahara; University of British Columbia and University of Western Ontario Katsumi Shimotsu; Hitotsubashi University and Queen's University
Presented by: Hiroyuki Kasahara, University of Western Ontario
Adaptive Elastic Net GMM estimator: Model Selection and Estimation with Diverging Number of Parameters
[slides]
By Mehmet Caner: Department of Economics, North Carolina State University Helen Zhang: Department of Statistics, North Carolina State University
Presented by: Mehmet Caner, North Carolina State University

Session 96: Education and Human Capital I
Session Organizer: Siu Fai Leung, Hong Kong University of Science and Technology
Session Chair: Masaru Sasaki, Osaka University
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: L4
The Effect of Private Tutoring Expenditures on Academic Performance of Middle School Students: Evidence from the Korea Education Longitudinal Study
[slides]
JEL codes: I20, C30
By Deockhyun Ryu; Chung-Ang University Changhui Kang; Chung-Ang University
Presented by: Changhui Kang, Chung-Ang University
Parental Job Loss, Income Shocks and the Education Enrolment of Youth
[slides]
By Michael Coelli; University of Melbourne
Presented by: Michael Coelli, The University of Melbourne
Productivity and Job Training: Evidence from Japanese Automobile Makers
By Kenn Ariga; Kyoto University Masako Kurosawa; GRIPS Fumio Ohtake; Osaka University Masaru Sasaki; Osaka University
Presented by: Masaru Sasaki, Osaka University
Keeping up with the Joneses in McMansions: Changes in Wealth Inequality between College and High-School Graduates
[slides]
By Takashi Yamashita
Presented by: Takashi Yamashita, Nova Southeastern University

Session 97: Empirical Analysis on R & D Activities
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Jong-Rong Chen, National Central University, Taiwan
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: L6
R&D Resources Allocation and Productivity Growth in the OECD Manufacturing Industries
JEL codes: O30,O40,O57,L60
By Jong-Rong Chen, Graduate Institute of Industrial Economics, National Central University, Taiwan; Yun-Peng Chu, Department of Economics, National Central University, Taiwan; Yi-Pey Ou, Graduate Institute of Industrial Economics, National Central University, Taiwan.
Presented by: Jong-Rong Chen, National Central University, Taiwan
Innovation, Clustering, and Knowledge Spillovers: An Empirical Study of Swedish and Finnish Firms
By Yih-Luan Chyi;Department of Economics, National Tsing Hua University, Hsinchu, Taiwan, ROC Kuei-Yen Liao;Department of Economics, National Tsing Hua University, Hsinchu, Taiwan, ROC
Presented by: KUEI-YEN LIAO, TSING HUA UNIVERSITY
DIFFERENCES IN R&D COMPOSITION ACROSS US AND JAPANESE FIRMS: AN EXPLANATION
By Souresh Saha; Brunel University
Presented by: Souresh Saha, Brunel University

Session 98: Game Theory V
Session Organizer: Akihiko Matsui, University of Tokyo
Session Chair: Yukihiko Funaki, Waseda University
Session type: contributed
Date: August 4, 2009
Time: 11:50 - 13:10
Location: S8
A Concession Game with Non-Transferable Utility and Risk of Disagreement
JEL codes: C72 C78
By Helena Hey-Young Kim; Department of Economics, Korea University, Anam-dong, Seongbuk-gu, Seoul, Korea Frans Spinnewyn; Department of Economics, K.U.Leuven, Naamsestraat 69, B-3000 Leuven, Belgium Luc Lauwers;Department of Economics, K.U.Leuven, Naamsestraat 69, B-3000 Leuven, Belgium
Presented by: Hye-Young Helena Kim, Korea University
A coalition formation value for games in partition function form
By Yukihiko Funaki;Waseda University Michel Grabisch;University of Paris I
Presented by: Yukihiko Funaki, Waseda University

Session 99: Local Public Finance
Session Organizer: Toshihiro Ihori, University of Tokyo
Session Chair: Toshihiro Ihori, University of Tokyo
Session type: contributed
Session JEL code: H7
Date: August 4, 2009
Time: 14:30 - 15:50
Location: C1
Political Mergers as Coalition Formation: Evidence from Japanese Municipal Amalgamations
[slides]
JEL codes: C71, H77
By Eric Weese; Hitotsubashi University
Presented by: Eric Weese, Massachusetts Institute of Technology
The Role of Local Governments’ Efficiency in Decentralized Public Service Delivery: Evidence from a Randomized Intervention in Rural Russia
By Diether W. Beuermann; University of Maryland at College Park
Presented by: Diether Beuermann, University of Maryland - College Park
A New Approach to Estimating Tax Interactions in Fiscal Federalism
By Kazuko Miyamoto; Queen's University
Presented by: Kazuko Miyamoto, Queen's University

Session 100: Macroeconometrics III
Session Organizer: Masao Ogaki, Oho State University
Session Chair: Jae Ho Yoon, POSCO Research Institute
Session type: contributed
Session JEL code: E00
Date: August 4, 2009
Time: 14:30 - 15:50
Location: L2
Relationship between Inflation and Relative Price Variability: Revisited
JEL codes: E30,E31,E52
By C.Y. Choi; University of Texas at Arlington
Presented by: Chi-Young Choi, University of Texas at Arlington
Menu Costs and Estimated Thresholds in the Response of Output to Monetary Policy: Do Smaller Changes in Policy Have Larger Effects?
By Luiggi Donayre; Washington University in St. Louis
Presented by: Luiggi Donayre, Washington University in St. Louis
Simultaneous Equations in the Markov-Switching Model
By Jae Ho Yoon; POSCO Research Institute
Presented by: Jae Ho Yoon, POSCO Research Institute
The Evolution of Loan Rate Stickiness Across the Euro Area
By Jouchi Nakajima; IMES, Bank of Japan Yuki Teranishi; IMES, Bank of Japan
Presented by: Yuki Teranishi, Columbia University

Session 101: Search Theory
Session Organizer: Tomoyuki Nakajima, Kyoto University
Session Chair: Keiichiro Kobayashi, RIETI
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: L1
A Monetary Model of Banking Crises
[slides]
JEL codes: E42, E51, G01
By Keiichiro Kobayashi; Research Institute of Economy, Trade, and Industry
Presented by: Keiichiro Kobayashi, RIETI
Collateral Fluctuations in a Monetary Economy
By Leo Ferraris Universidad Carlos III de Madrid Makoto Watanabe Universidad Carlos III de Madrid
Presented by: Makoto Watanabe, University Carlos III de Madrid
Repeated Moral Hazard with Worker Mobility via Directed On-the-Job Search
By Kunio Tsuyuhara, University of Toronto
Presented by: Kunio Tsuyuhara, University of Toronto
Production Theory with Friction: Foundation of an Optimal Non-market-clearing Economy
[slides]
By Koji Yokota; Otaru University of Commerce
Presented by: Koji Yokota, Otaru University of Commerce

Session 102: Impulses and Propagation
Session Organizer: Toni Braun,
Session Chair: Michio Suzuki, Bank of Japan
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: C2
Labour Shares and the Role of Capital and Labour Market Imperfections
JEL codes: C78, E25, J64
By Lena Suchanek; Bank of Canada
Presented by: Lena Suchanek, Bank of Canada
On the Role of Policy Interventions in Structural Change and Economic Development: The Case of Postwar Japan
By Julen Esteban-Pretel, University of Tokyo Yasuyuki Sawada, University of Tokyo
Presented by: Yasuyuki Sawada, University of Tokyo
Financial Factors and Labor Market Fluctuations
By Yahong Zhang; Bank of Canada
Presented by: Yahong Zhang, Bank of Canada
Consumption Smoothing without Secondary Markets for Small Durable Goods
By Michio Suzuki; Institute for Monetary and Economic Studies, Bank of Japan
Presented by: Michio Suzuki, Bank of Japan

Session 103: Modelling Financial Time Series
Session Organizer: Joon Park, Texas A&M University
Session Chair: Chor-Yiu Sin, Xiamen University
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: S12
Modelling Multivariate Interest Rates using Copulas and Reducible Stochastic Differential Equations
JEL codes: C13; C32; G12
By RuijunBu; University of Liverpool Ludovic Giet; GREQUAM Marseille Kaddour Hadri; Queen's University Belfast Michel Lubrano; GREQUAM and CNRS Marseille
Presented by: Kaddour Hadri, Queen's University Belfast
Asymmetric CAPM Dependence for Large Dimensions: The Canonical Vine Autoregressive Copula Model
By Andréas Heinen; Universidad Carlos III de Madrid - Department of Statistics and Econometrics. Alfonso Valdesogo Robles; Catholic University of Louvain - Center for Operations Research and Econometrics (CORE).
Presented by: Alfonso Valdesogo Robles, Universite catholique de Louvain
Modeling International Financial Returns with a Multivariate Regime Switching Copula
By Loran Chollete; NHH, Bergen Andreas Heinen; Universidad Carlos III Alfonso Valdesogo; CORE, UCL
Presented by: andreas heinen, Universidad Carlos III
Modelling time-varying correlation with a parsimonious vector LARCH
By Chor-yiu (CY) SIN, Wang Yanan Institute for Studies in Economics, Xiamen University
Presented by: Chor-Yiu Sin, Xiamen University

Session 104: Repeated Games II
Session Organizer: Akihiko Matsui, University of Tokyo
Session Chair: Ichiro Obara, UCLA
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: S8
Generic Characterization of the Set of Belief-Free Review-Strategy Equilibrium Payoffs
By Takuo Sugaya; Princeton University
Presented by: Takuo Sugaya, Princeton University
Cooperation in Repeated Prisoner's Dilemma with Perturbed Payoffs
By Yosuke Yasuda; GRIPS Takako Fujiwara-Greve; Keio University
Presented by: Yosuke Yasuda, GRIPS
Finite State Equilibria in Dynami Games
By Michihiro Kandori; University of Tokyo Ichiro Obara; UCLA
Presented by: Ichiro Obara, UCLA

Session 105: Auction II
Session Organizer: Akihiko Matsui, University of Tokyo
Session Chair: Kiho Yoon, Korea University
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: L8
On the strategic use of quality scores in keyword auctions: Full extraction of advertisers' surplus
[slides]
JEL codes: D44; M37
By Kiho Yoon; Korea University
Presented by: Kiho Yoon, Korea University
An Ascending Multi-Item Auction with Financially Constrained Bidders
By Gerard van der Laan, Vrije Universiteit, Amsterdam, The Netherlands. Zaifu Yang, Yokohama National University, Yokohama, Japan.
Presented by: Zaifu Yang, Yokohama National University
Risk Aversion and Optimal Reserve Prices in First and Second-Price Auctions
[slides]
By Audrey Hu; University of Amsterdam/Tinbergen Institute Steven A. Matthews; University of Pannsylvania Liang Zou; University of Amsterdam Business School
Presented by: Audrey Hu, Tinbergen Institute/University of Amsterdam

Session 106: Law and Economics
Session Organizer: Noriyuki Yanagawa, University of Tokyo
Session Chair: Sachiko Miyata, World Bank
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: L9
Technology Adoption and Fuzzy Patent Rights
JEL codes: K40, O33, O34
By CHIOU, Jing-Yuan; IMT Lucca
Presented by: Jing-Yuan CHIOU, IMT Lucca
On optimality of secrecy and scarcity of idea
By Bonwoo Koo; University of Waterloo, Canada Brian D. Wright; University of California at Berkeley
Presented by: Bonwoo Koo, University of Waterloo
Demand for Contract Farming and Nature of Market in Developing Economies- Case of Hog Industry in China -
By Sachiko MIYATA; World Bank, Washington D.C., U.S. Jimin WANG; Institute of Agricultural Economics, Chinese Academy of Agricultural Science Mariko WATANABE*; Institute of Developing Economies, JETRO, Chiba (contact author)
Presented by: Sachiko Miyata, World Bank

Session 107: Social Choice I
Session Organizer: Shigehiro Serizawa, Osaka University
Session Chair: James Schummer, Northwestern University
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: S7
Tops-Only Domains
JEL codes: D71
By Shurojit Chatterji; School of Economics,Singapore Management University Arunava Sen; Planning Unit, Indian Statistical Institute
Presented by: Shurojit Chatterji, Singapore Management University
Assignment of Arrival Slots
By James Schummer; MEDS Kellogg Northwestern Univ. Rakesh Vohra; MEDS Kellogg Northwestern Univ.
Presented by: James Schummer, Northwestern University
On strategy-proof social choice under categorization
By Shin Sato; Fukuoka University
Presented by: Shin Sato, Fukuoka University
A Characterization of the Uniform Rule with Several Goods and Agents
By Shuhei Morimoto; Osaka University Shigehiro Serizawa; Osaka University Stephen Ching; The University of Hong Kong
Presented by: Shuhei Morimoto, Osaka University

Session 108: Empirical Analysis of Saving and Retirement
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Charles Horioka, Osaka University
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: L7
Does health status matter to people’s retirement decision in Japan?: An evaluation of “justification hypothesis” and measurement errors in subjective health
JEL codes: I19, J26
By Junya Hamaaki; Economic and Social Research Institute, Cabinet Office Haruko Noguchi; National Institute of Population and Social Security Research
Presented by: Junya Hamaaki, Cabinet Office
Monetary transfers from children and the labour supply of elderly parents: theory and evidence from Vietnam
By Trong-Ha Nguyen; Crawford School of Economics and Government; Australian National University
Presented by: Ha Nguyen, Australian National University
The Saving Behavior of the Aged in Japan
By Charles Yuji Horioka; Institute of Social and Economic Research, Osaka University, and National Bureau of Economic Research
Presented by: Charles Horioka, Osaka University
Understanding the Decline in the Japanese Saving Rate in the New Millennium
By Tokuo Iwaisako; Ministry of Finance and Hitotsubashi University Keiko Okada; Hosei University
Presented by: Tokuo Iwaisako, Ministry of Finance

Session 109: Theoretical Studies on International Trade
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Yoshinori Kurokawa, University of Tsukuba
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: L6
Variety Trade and Skill Premium in a Calibrated General Equilibrium Model: The Case of Mexico
JEL codes: F12, F16
By Manoj Atolia; Florida State University Yoshinori Kurokawa; SUNY at Buffalo
Presented by: Yoshinori Kurokawa, University of Tsukuba
The Role of Quality Ladders in a Ricardian Model of Trade with Nonhomothetic Preferences
[slides]
By Esteban Jaimovich; Collegio Carlo Alberto Vincenzo Merella; City University London
Presented by: Vincenzo Merella, City University London
A Proportional Theory with Heterogeneous Firms and Endogenous Elasticity
By Tsechien Hsu; National Taiwan University
Presented by: Tsechien Hsu, National Taiwan University
Globalization and Labor Market Outcomes: Wage Bargaining, Search Frictions, and Firm Heterogeneity
By Gabriel Felbermayr; University of Hohenheim Julien Prat; University of Vienna and New York University Hans-Joerg Schmerer; University of Hohenheim and University of Tübingen
Presented by: Hans-Jörg Schmerer, Universities of Hohenheim and Tübingen

Session 110: Theoretical Studies on R & D
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Illoong Kwon, State University of New York at Albany
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: S9
Investment in Technological Innovations with a Jump Process
JEL codes: D81; G31; O33
By Wen-Chung Guo; National Taipei University Chang-Chun Cheng; Ming-Chuan University Yijen Wang; National Kaohsiung First University of Science and Technology
Presented by: Wen-Chung Guo, National Taipei University
How to Motivte Innovation: Prize or Subsidies
By Qiang Fu, Jingfeng Lu, National University of Singapore; Yuanzhu Lu, Central University of Finance and Economics, China
Presented by: Qiang Fu, National University of Singapore
R&D Portfolios of Multiproduct Firms
By Lingnan University of Hong Kong
Presented by: Ping Lin, Lingnan University

Session 111: Time Series
Session Organizer: Xiaohong Chen, Yale University
Session Chair: Li Hao, George Mason University
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: L3
Forecasting Using Supervised Factor Models
JEL codes: C5,E4,G1
By Tae-Hwy Lee; University of California, Riverside Yundong Tu; University of California, Riverside
Presented by: Yundong Tu, University of California, Riverside
Asymptotic Theory for Maximum Likelihood Estimation in Stationary Fractional Gaussian Processes, Under Short-, Long- and Intermediate Memory
By Offer Lieberman; University of Haifa Roy Rosemarin; London School of Economics Judith Rousseau; CEREMADE, University Paris Dauphine
Presented by: OFFER LIEBERMAN, University of Haifa
A Powerful Nonparametric k-Sample Trend Test
By Li Hao;Interdisciplinary Center for Economic Science, George Mason University. Daniel Houser; Interdisciplinary Center for Economic Science, George Mason University.
Presented by: Li Hao, George Mason University
Determining the Rank of the Beta Matrix In a Factor Model with Factor-Candidate Regressors
By Seung C. Ahn; Arizona State University Alex Horenstein; Arizona State University Na Wang; Arizona State University
Presented by: SEUNG Ahn, ARIZONA STATE UNIVERSITY

Session 112: Bound Analysis in Econometrics
Session Organizer: Xiaohong Chen, Yale University
Session Chair: Tsunao Okumura, Yokohama National University
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: S10
Concave-Monotone Treatment Response and Monotone Treatment Selection: With Returns to Schooling Application
JEL codes: C14, J24
By Tsunao Okumura; Yokohama National University Emiko Usui; Nagoya University
Presented by: Tsunao Okumura, Yokohama National University
Inference for Subsets of Parameters in Partially Identified Models
By Kyoo il Kim; University of Minneosta
Presented by: Kyoo il Kim, University of Minnesota
Optimal Robust Bound Analysis with Weak Instruments
By Jabonn Kim (Korea Institute of Finance); Kajal Lahiri (SUNY Albany)
Presented by: jabonn kim, korea institute of finance
Bounding Endogenous Parameters with Generalized Instrumental Moment Inequalities
By Myoung-jae Lee*, Jin-young Choi, Hyunah Kim Department of Economics, Korea University
Presented by: Jin-Young Choi, Korea Univ.

Session 113: Exchange Rate Regime
Session Organizer: Shinichi Fukuda,
Session Chair: Emanuel Kohlscheen, University of Warwick
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: F
Emerging Floaters: Pass-Throughs and (Some) New Commodity Currencies
JEL codes: F30, F31
By Emanuel Kohlscheen; University of Warwick
Presented by: Emanuel Kohlscheen, University of Warwick
Choices of optimal policy instruments under the floating and the basket-peg regimes
[slides]
By Naoyuki Yoshino; Keio University Sahoko Kaji; Keio University Tamon Asonuma; Boston University
Presented by: Tamon Asonuma, Boston University

Session 114: Theoretical Analysis in Labor
Session Organizer: Siu Fai Leung, Hong Kong University of Science and Technology
Session Chair: Bingyong Zheng, Shanghai Univ. of Finance and Economics
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: S203
Minimum Wages in a Unionised Economy
JEL codes: C78, J30, J51
By Marcus Dittrich; European Business School (EBS) Wiesbaden
Presented by: Marcus Dittrich, European Business School (EBS) Wiesbaden
Employment Protection Legislation and Incentives under Wage Rigidity
By Kyota Eguchi; University of Tsukuba
Presented by: Kyota Eguchi, University of Tsukuba
Cherry-picking in Labor Markets with Imperfect Information
By Shuaizhang Feng; Princeton and IZA Bingyong Zheng; Shanghai University of Finance and Economics
Presented by: Bingyong Zheng, Shanghai Univ. of Finance and Economics

Session 115: Impact of Labor Market Reforms
Session Organizer: Siu Fai Leung, Hong Kong University of Science and Technology
Session Chair: Brian McCaig, Australian National University
Session type: contributed
Date: August 4, 2009
Time: 14:30 - 15:50
Location: L4
The Effects of Employment Protection on Labor Turnover: Empirical Evidence from Taiwan
By Kamhon Kan; Institute of Economics, Academia Sinica, Institute of Economics, Taiwan Yen-Ling Lin; Department of Economics, Tamkang University, Taiwan
Presented by: Kamhon Kan, Academia Sinica
The Structure of the Temp Wage Gap in Slack Labor Markets
By Elke J. Jahn, Aarhus University, Denmark
Presented by: Elke Jahn, Aarhus School of Business, University of Aarhus, IAB Nuremberg, IZA Bonn
Exporting out of poverty: Provincial poverty in Vietnam and U.S. market access
By Brian McCaig; School of Economics and Research School of Social Sciences, Australian National University
Presented by: Brian McCaig, Australian National University

Session 116: Invited Lecture: Markus K. Brunnermeier: On the financial crisis
Session Organizer: ,
Session Chair: Kazuhiko Ohashi, Hitotsubashi University
Session type: invited
Date: August 4, 2009
Time: 16:5 - 17:05
Location: H

Session 117: Invited Lecture: Michihiro Kandori: Revision Games: Cooperation via the Revisions of Strategies
Session Organizer: ,
Session Chair: Satoru Takahashi, Princeton University
Session type: invited
Date: August 4, 2009
Time: 16:5 - 17:05
Location: L6

Session 118: Invited Lecture: Costas Meghir: Matching, Sorting and Wages
Session Organizer: ,
Session Chair: Charles Horioka, Osaka University
Session type: invited
Date: August 4, 2009
Time: 16:5 - 17:05
Location: F

Session 119: Presidential Address: Roger Myerson: Understanding the foundations of institutions: moral hazard in high office
Session Organizer: ,
Session Chair: Hitoshi Matsushima, University of Tokyo
Session type: invited
Date: August 4, 2009
Time: 17:20 - 18:20
Location: Y

Session 120: Macroeconometrics IV
Session Organizer: Masao Ogaki, Oho State University
Session Chair: Nicolas Groshenny, Reserve Bank of New Zealand
Session type: contributed
Session JEL code: E00
Date: August 5, 2009
Time: 9:00 - 10:20
Location: L2
R&D Intensity, ICT Investment and Industry Productivity Growth
JEL codes: O3, O4
By Theo S. Eicher Department of Economics, University of Washington Ifo Institute for Economic Research at the University of Munich Thomas Strobel Ifo Institute for Economic Research at the University of Munich Department of Economics, University of Munich
Presented by: Thomas Strobel, Ifo Institute for Economic Research
Bayesian prior elicitation in DSGE models: macro vs micro priors
By Giulio Nicoletti; Banca d'Italia Marco J. Lombardi; European Central Bank
Presented by: Marco Lombardi, European Central Bank
How Important are Financial Shocks for the Canadian Business Cycle
By Shin-Ichi Nishiyama; Bank of Canada
Presented by: Shin-Ichi Nishiyama, Bank of Canada
Evaluating a monetary business cycle model with unemployment for the euro area
[slides]
By Nicolas Groshenny; Reserve Bank of New Zealand;
Presented by: Nicolas Groshenny, Reserve Bank of New Zealand

Session 121: Financial economic theory II
Session Organizer: Makoto Saito, Hitotsubashi University
Session Chair: Zhiguo He, University of Chicago, GSB
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: L1
A Model of Capital and Crises
By Zhiguo He; University of Chicago Arvind Krishnamurthy; Northewestern University
Presented by: Zhiguo He, University of Chicago, GSB
Liquidity, Asset Price and Banking
By Ying Syuan Li; National Taiwan University Yiting Li; National Taiwan University
Presented by: Yiting Li, National Taiwan University
Default risk, equity returns and the value of limited liability protection
By Douglas Rolph;Department of Economics and Finance, City University of Hong Kong
Presented by: Douglas Rolph, City University of Hong Kong
Financial Structure and Competition in the Banking Industry: Theory and Empirics
By Shirley J. Ho; Department of Economics/National Chengchi University, Taiwan Su-Chu Hsu; Auditing Office/Bank of Taiwan, and Department of Money and Banking/ National Chengchi University, Taiwan
Presented by: Shirley Ho, National Chengchi University

Session 122: Overlapping generations models
Session Organizer: Tomoyuki Nakajima, Kyoto University
Session Chair: Masako Ikefuji, Osaka University
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 9:20
Location: S204
Private Pensions, Retirement Wealth and Lifetime Earnings
[slides]
By Jie Zhou; Nanyang Technological University
Presented by: Jie Zhou, Nanyang Technological University
Internal vs. External Habit Formation in a Growing Economy with Overlapping Generations
By Masako Ikefuji; Fondazione Eni Enrico Mattei, Kazuo Mino; Graduate School of Economics, Osaka University
Presented by: Masako Ikefuji, Osaka University
The Taxation of Saving Returns Overlapping Generations Economies with Stochastic Asset Bubbles
By Julio Dávila; CORE, Univ. c. de Louvain - CES, Paris School of Economics
Presented by: Julio Davila, Universite catholique de Louvain and CNRS

Session 123: Experimental Economics: Auction
Session Organizer: Tatsuyoshi Saijo, Osaka University
Session Chair: Sotirios Georganas, Ohio State University and University of
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: L9
An Efficient and Incentive Compatible Ascending Auction for Multiple Complements
JEL codes: D44
By Ning Sun, School of Economics, Shanghai University of Finance and Economics; Zaifu Yang, Faculty of Business Administration, Yokohama National University,
Presented by: Ning Sun, Shanghai University of Finance and Economics
Auctions for Public Construction with Corner-cutting
By Kenju Akai; Japan Society for the Promotion of Science Tatsuyoshi Saijob; Institute of Social and Economic Research, Osaka University Shigehiro Serizawab; Institute of Social and Economic Research, Osaka University
Presented by: Kenju Akai, Osaka University
Asymmetric Auctions with Resale: An Experimental
By Sotiris Georganas, Ohio State John Kagel, Ohio State
Presented by: Sotirios Georganas, Ohio State University and University of
Experimental Results on Sponsored Search Auction: Comparison of GSP and VCG
By Emiko Fukuda;Department of Computer Science, National Defense Academy Yukihiko Funaki;Waseda University Yoshio Kamijo;Faculty of Political Science and Economics, Waseda University Michiharu Masui;Department of Social Engineering, Tokyo Institute of Technology Ai Takeuchi;Graduate School of Economics, Waseda University, JSPS Research Fellow (DC)
Presented by: Ai Takeuchi, Graduate School of Waseda University

Session 124: Fiscal Policy
Session Organizer: Toshihiro Ihori, University of Tokyo
Session Chair: Günther REHME, Humboldt-Universität zu Berlin
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: C1
3-Step Analysis of Public Finances Sustainability: the Case of the European Union
JEL codes: C23, E62, H62
By António Afonso (European Central Bank and ISEG/TULisbon) Christophe Rault (LEO, University of Orléans, CESifo, IZA, and William Davidson Institute)
Presented by: Christophe Rault, University of Orléans
Optimal Capital Income Taxation, Investment Subsidies and Redistribution in a Neoclassical Growth Model
By Humboldt University Berlin
Presented by: Günther REHME, Humboldt-Universität zu Berlin

Session 125: Analysis of High Frequency Data
Session Organizer: Joon Park, Texas A&M University
Session Chair: Tao Yang, Singapore Management University
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: S12
Multivariate Two Scale Realized Kernels
JEL codes: C14, C22
By Shinsuk Ikeda; Department of Economics Boston University
Presented by: Shinsuke Ikeda, Boston University
Estimation of High-Frequency Volatility: Autoregressive Conditional Duration Model versus Realized Volatility Methods
By Yiu-Kuen Tse; School of Economics, Singapore Management University Tao Yang; School of Economics, Singapore Management University
Presented by: Tao Yang, Singapore Management University
Stochastic Volatility and Jumps: Exponentially Affine Yes or No? An Empirical Analysis of S&P500 Dynamics
[slides]
By Katja Ignatieva; Goethe University Frankfurt Paulo J. M. Rodrigues; Goethe University Frankfurt Norman Seeger; Goethe University Frankfurt
Presented by: Katja Ignatieva, Goethe University Frankfurt

Session 126: Information and Asset Price Volatility
Session Organizer: Takeo Hoshi, University of California, San Diego
Session Chair: Kimie Harada, Chuo University
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: C2
Informed Trading and Divergence of Opinion– Evidence from the U.S. Treasury Market
JEL codes: G14
By George Jiang; University of Arizona Ingrid Lo; Bank of Canada
Presented by: Ingrid Lo, Bank of Canada
Impacts of News Announcements on Order Flow and Price Discovery in the Foreign Exchange Market
By Yu-Lun Chen; National Chi Nan University Yin-Feng Gau; National Central University
Presented by: Yin-Feng Gau, National Central University
News Effects on High Frequency Yen/Dollar Exchange Rates and its Volatility Behavior
By Kimie Harada;Chuo University Toshiaki Watanabe;Hitotsubashi University
Presented by: Kimie Harada, Chuo University

Session 127: Game Theory III
Session Organizer: Akihiko Matsui, University of Tokyo
Session Chair: Akira Okada, HITOTSUBASHI UNIVERSITY
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: L8
Coalition-proof Equilibria in a Voluntary Participation Game
JEL codes: C72;H41
By Ryusuke Shinohara; Faculty of Economics, Shinshu University
Presented by: Ryusuke Shinohara, Shinshu University
Coalitional Bargaining Games with Random Proposers: Theory and Application
By Akira Okada; Hitotsubashi University
Presented by: Akira Okada, HITOTSUBASHI UNIVERSITY
Observability and Endogenous Organizations
By Gabriel A. Madeira Weerachart T. Kilenthong
Presented by: Gabriel Madeira, University of Sao Paulo

Session 128: Program Evaluation
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Hideo Akabayashi, Keio University
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: L7
The impact of Water Supply and Sanitation interventions on child health: evidence from DHS surveys
JEL codes: I1, D1, C35
By Ron Bose
Presented by: Ron Bose, International Initiative for Impact Evaluation (3ie)
Prohibiting Sex or Prohibiting True Love? An Empirical Assessment of Effect of Statutory Rape Law on Teenage Marriage in Japan
By Hideo Akabayashi; Keio University Akihito Toda; Recruit Works Institute
Presented by: Hideo Akabayashi, Keio University
Effects of Early Reemployment Bonus Program on Unemployment under Partial Program Awareness
By Hyun Ah Kim; Korea Development Institute Yong-Seong Kim; Korea Development Institute Jin-Young Choi; Korea University Myoung-jae Lee; Korea University
Presented by: Myoung-jae Lee, Department of Economics
The impacts of the new tsunami on the Egyptian households welfare
By Racha Ramadan; Toulouse School of Economics-LERNA Alban Thomas; Toulouse School of Economics-LERNA and INRA
Presented by: Racha RAMADAN, Toulouse School of Econonics

Session 129: Structural Dynamic Estimation
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Minjung Park, University of Minnesota
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: S9
A Dynamic Stochastic Analysis of International Patent Application and Renewal Processes
JEL codes: O34
By Yi Deng; Department of Economics, University of South Florida
Presented by: Yi Deng, Southern Methodist University
Advertising and Market Share Dynamics
By Minjung Park; University of Minnesota
Presented by: Minjung Park, University of Minnesota
Assessing the Consequence of Horizontal Merger and its Remedies in a Dynamic Environment
By Satoshi Myojo; National Institute of Science and Technology Policy Hiroshi Ohashi; University of Tokyo
Presented by: Satoshi Myojo, National Institute of Science and Technology Policy

Session 130: Multi-Sided Market and Networks
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Hiroshi Ohashi, University of Tokyo
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: L6
A Frictional Matching Model of Two-Sided Platforms
JEL codes: D4, D8, L1
By Kong-Pin Chen; Academia Sinica Yenchi Huang; National Central University
Presented by: Kong-Pin Chen,
Cournot Competition on a Network of Markets and Firms
By Rahmi Ilkilic, Maastricht University
Presented by: Rahmi Ilkilic, Unıversiteit Maastricht
Partner or Rival: Entry deterrence in two-sided markets
[slides]
By Pak Yee Lee; Univeristy of Leicester
Presented by: Pak Yee Lee, University of Leicester

Session 131: Consumer Behavior and Durable Goods
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Evangelos Rouskas, Athens Univ. of Economics & Business
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: S8
Efficient Consumer Altruism and Fair Trade Products
JEL codes: D11, D64, D86
By David Reinstein; University of Essex Joon Song; University of Essex
Presented by: Joon Song, University of Essex
The Benefit Function Approach to Modeling Price-Dependent Demand Systems: An Application of Duality Theory
By Keith McLaren is professor of econometrics, Department of Econometrics and Business Statistics, Monash University, Clayton, Australia. K. K. Gary Wong is associate professor, Department of Economics, The University of Macau, Macau SAR, China.
Presented by: Gary Wong, U of Macau
Inefficient durable-goods monopolies
By Joao Montez; London Business School
Presented by: Joao Montez, London Bussiness School
Efficient Delay in Decision Making
By Evangelos Rouskas; Athens University of Economics and Business
Presented by: Evangelos Rouskas, Athens Univ. of Economics & Business

Session 132: GMM Estimation and Inference under Non-standard Conditions
Session Organizer: Xiaohong Chen, Yale University
Session Chair: rachida Ouysse, Australian School of Business
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: S10
GMM-based inference in the AR(1) panel data model for parameter values where local identification fails
By Edith Madsen; University of Copenhagen
Presented by: Edith Madsen, Department of Economics
Testing for Identification in GMM under Conditional Moment Restrictions
By Francesco Bravo; University of York Juan Carlos Escanciano; Indiana University Taisuke Otsu; Yale University
Presented by: Juan Carlos Escanciano, Indiana University
Fast Iterated Bootstrap for Bias Correction
By Rachida Ouysse; University of New South Wales
Presented by: rachida Ouysse, Australian School of Business

Session 133: Macro Dynamics
Session Organizer: Shinichi Fukuda,
Session Chair: Kazuo Mino, Kyoto University
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: F
The Dynamic Welfare Comparison of seignorage Tax and Consumption Tax
[slides]
By Been-Lon Chen; Institute of Economics, Academia Sinica Mei Hsu; Department of Economics, National Taipei University Chia-Hui Lu; Department of Economics, National Taipei University
Presented by: Chia-Hui Lu, National Taipei University
The Value of Uncertainty under Limited Commitment
By Junichi Fujimoto; University of Tokyo
Presented by: Junichi Fujimoto, University of Tokyo
Fincancial Integration and Aggregate Stability
By Yunfang Hu; Graduate School of International Cultural Studies, Tohoku University Kazuo Mino; Kyoto Institute for Economic Reseach, Kyoto University
Presented by: Kazuo Mino, Kyoto University
Staggered Labour Contracts and Monetary Policy
By Robert Amano; Bank of Canada Stephen Murchison; bank of Canada Malik Shukayev; Bank of Canada
Presented by: Malik Shukayev, Bank of Canada

Session 134: Estimation of Game Theoretic Models
Session Organizer: Yuichi Kitamura, Yale University
Session Chair: Shiko Maruyama, University of New South Wales
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: L3
Identifying Dynamic Games with Serially-Correlated Unobservables
JEL codes: C14
By Yingyao Hu; Johns Hopkins University; Matthew Shum; Caltech
Presented by: Yingyao Hu, Johns Hopkins University
Estimation of Bayesian Nash Equilibria In Two-player Games With Correlated Private Signals
By Haiqing Xu; Economics Department, The Pennsylvania State University.
Presented by: Haiqing Xu, the Pennsylvania State University
Estimating Sequential-Move Games by a Recursive Conditioning Simulator
By Shiko Maruyama; University of New South Wales
Presented by: Shiko Maruyama, University of New South Wales

Session 135: Family
Session Organizer: Siu Fai Leung, Hong Kong University of Science and Technology
Session Chair: Ayako Kondo, Columbia University
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: S203
Female Labor Market Conditions and Family Formation
[slides]
JEL codes: J1
By Ayako Kondo; Osaka University
Presented by: Ayako Kondo, Columbia University
The Role of Labor Market Participation on Marriage Bargaining – Identification through Intergenerational Transfers
By Jie Pan; University of Arkansas at Little Rock
Presented by: Jie Pan, University of Arkansas at Little Rock
Relationship between Consumption, Labor Supply and Fertility - Evidence from Japan
By Reiko Aoki; Hitotsubashi University Yoko Konishi; RIETI
Presented by: Reiko Aoki, Hitotsubashi University

Session 136: Contract Theory III
Session Organizer: Hideshi Itoh, HITOTSUBASHI UNIVERSITY
Session Chair: Munetomo Ando, Nihon University
Session type: contributed
Date: August 5, 2009
Time: 9:00 - 10:20
Location: S7
Commission Sharing and Search Agents
By Zhiyun (Frances) Xu; Cornerstone Research
Presented by: Frances Xu, Cornerstone Research
Reputation Management and Seniority Systems in Firms
By Munetomo Ando; Nihon University
Presented by: Munetomo Ando, Nihon University
Unforeseen Contingencies, Incentives and Economic Power
[slides]
By Sripad Motiram; Indira Gandhi Institute of Development Research, Mumbai
Presented by: Sripad Motiram, Indira Gandhi Institute of Development Research

Session 137: Invited Lecture: Yuliy Sannikov: Continuous-time repeated games and agency models
Session Organizer: ,
Session Chair: Tadashi Sekiguchi, Kyoto University
Session type: invited
Date: August 5, 2009
Time: 10:35 - 11:35
Location: L1

Session 138: Invited Lecture: Ali Hortacsu: Empirical Analysis of Multi-Unit Auction Markets
Session Organizer: ,
Session Chair: Hiroshi Ohashi, University of Tokyo
Session type: invited
Date: August 5, 2009
Time: 10:35 - 11:35
Location: F

Session 139: Invited Lecture: Nobuhiro Kiyotaki: Liquidity, Business Cycles and Monetary Policy
Session Organizer: ,
Session Chair: Shin-ichi Fukuda, The University of Tokyo
Session type: invited
Date: August 5, 2009
Time: 10:35 - 11:35
Location: H

Session 140: Family and Social Insurance
Session Organizer: Toshihiro Ihori, University of Tokyo
Session Chair: Sang-Wook (Stanley) Cho, University of New South Wales
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: C1
Family Policies: What Does the Standard Endogenous Fertility Model Tell Us?
JEL codes: H21,I0,J13,J18
By Thomas Baudin, Paris School of Economics & EQUIPPE
Presented by: Thomas Baudin, Paris School of Economics - University of Paris I Panthéon Sorbonne
Migration, Social Security, and Economic Growth
By Hung-Ju Chen, National Taiwan University I-Hsiang Fang, National Taiwan University
Presented by: Hung-Ju Chen, National Taiwan University
Beggar-thy-parents? A Lifecycle Model of Intergenerational Altruism
[slides]
By Sang-Wook (Stanley) Cho School of Economics, University of New South Wales, Sydney, Australia
Presented by: Sang-Wook (Stanley) Cho, University of New South Wales
Insurance, Learning and Consumption: Evidence from China’s New Cooperative Medical Scheme
By Chong-En Bai, Tsinghua University Hongbin Li, Tsinghua University Binzhen Wu, Tsinghua University
Presented by: Binzhen Wu, Tsinghua SEM

Session 141: Empirical Finance: Bond and Commodities
Session Organizer: Makoto Saito, Hitotsubashi University
Session Chair: Kazuhiko Ohashi, Hitotsubashi University
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: L1
Uninsurable Risk, Bond Pricing and Real Interest Rates: An Investigation of UK Indexed Bonds
By David BARR;Durham University Parantap BASU;Durham University Kenji WADA;Keio University
Presented by: Kenji Wada, Keio University
Cointegrated Commodity Pricing Model
By Katsushi Nakajima; Graduate School of International Corporate Strategy, Hitotsubashi University Kazuhiko Ohashi; Graduate School of International Corporate Strategy, Hitotsubashi University
Presented by: Kazuhiko Ohashi, Hitotsubashi University
Integrating Multiple Commodities in a Model of Stochastic Price Dynamics
[slides]
By Raphael Paschke; University of Mannheim Marcel Prokopczuk; University of Mannheim
Presented by: Marcel Prokopczuk, University of Mannheim

Session 142: Business Cycles II
Session Organizer: Tomoyuki Nakajima, Kyoto University
Session Chair: Kengo Nutahara, Senshu University
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: S204
The role of investment wedges in the Carlstrom-Fuerst economy and business cycle accounting
JEL codes: E13, E32
By Masaru Inaba; The Canon Institute for Global Studies Kengo Nutahara; Senshu University
Presented by: Kengo Nutahara, Senshu University
Japan's Lost Decade and Decline in Labor Input
By Kensuke Miyazawa; the University of Tokyo
Presented by: Kensuke Miyazawa, the University of Tokyo
Labor Market Dynamics in a Representative Agent Model with Effective Leisure
By Ragchaasuren Galindev; Queens University Belfast
Presented by: Ragchaasuren Galindev, Queens University Belfast
Sectoral Co-Movement, Monetary-Policy Shock, and Input-Output Structure
By Nao Sudo;Institute for Monetary and Economic Studies, Bank of Japan
Presented by: Nao Sudo, Bank of Japan

Session 143: Theory of Financial Markets
Session Organizer: Atsushi Kajii, Kyoto University
Session Chair: Bruno Strulovici, Northwestern University
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: L8
Capital Mobility and Asset Pricing
JEL codes: G0, D4, D5, C61
By Darrell Duffie; Stanford GSB Bruno Strulovici; Northwestern University
Presented by: Bruno Strulovici, Northwestern University
Market Based, Segregated Exchanges in Securities with Default Risk
By Tee Kilenthong; University of California, Santa Barbara Robert Townsend, MIT
Presented by: Weerachart Kilenthong, University of California, Santa Barbara
Will you lend me to short ? The role of the box in leverage and repo fails
By Jean-Marc Bottazzi; Paris School of Economics Jaime Luque; Universidade Nova de Lisboa Mário Páscoa; Universidade Nova de Lisboa
Presented by: Jean-Marc Bottazzi, Paris School of Economics
Beauty Contests and Asset Prices under Asymmetric Information
By Ryuichiro Ishikawa; University of Tsukuba Noritaka Kudoh; Hokkaido University
Presented by: Noritaka Kudoh, Hokkaido University

Session 144: Financial Econometrics I
Session Organizer: Joon Park, Texas A&M University
Session Chair: Dennis Kristensen, Columbia University
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: L7
Nonstationary Semiparametric ARCH Models
JEL codes: C22, C50, G12
By Heejoon Han; Department of Economics and Risk Management Institute, National University of Singapore. Shen Zhang; Department of Economics, National University of Singapore.
Presented by: Heejoon Han, National University of Singapore
Is the Drift of the Interest Rate Process Linear? A New Approach and Evidence
By Yongmiao Hong; Cornell University Yoonjin Lee; Indiana University Zhaogang Song; Cornell University
Presented by: Yoon-Jin Lee, Indiana University
Testing Conditional Factor Models
By Andrew Ang; Columbia University and NBER Dennis Kristensen; Columbia University and CREATES
Presented by: Dennis Kristensen, Columbia University

Session 145: Financial Market and Macroeconomics
Session Organizer: Takeo Hoshi, University of California, San Diego
Session Chair: David Cook, HKUST
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: C2
The term structure with macro factors, expectations hypothesis and regime shift
JEL codes: E43, E44, G12
By Xiaoneng Zhu Department of Economics, Nanyang Technological University
Presented by: Xiaoneng Zhu, NTU
Financial Market Risk and the Stability of Broad Money Demand
By David Cook; HKUST Woon Gyu Choi; IMF
Presented by: David Cook, HKUST
The intraday interest rate under a liquidity crisis: the case of August 2007
By Angelo Baglioni; Catholic University Milan Andrea Monticini; University of Genoa
Presented by: Andrea Monticini, Catholic University of Milan

Session 146: Social Choice II
Session Organizer: Shigehiro Serizawa, Osaka University
Session Chair: Koichi Tadenuma, Hitotsubashi University
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: L9
Dividends and Weighted Values in Games with Externalities
JEL codes: C71, C72
By Inés Macho-Stadler; Universitat Autònoma de Barcelona David Pérez-Castrillo; Universitat Autònoma de Barcelona David Wettstein; Ben-Gurion University of the Negev
Presented by: David Pérez-Castrillo, Universitat Autonoma de Barcelona
Choosing and Sharing
By Jeremy Laurent-Lucchetti; HEC Montreal Justin Leroux; HEC Montreal
Presented by: Justin Leroux, HEC Montreal
Universal Social Orderings
By Marc Fleurbaey; University Paris Descartes Koichi Tadenuma; Hitotsubashi University
Presented by: Koichi Tadenuma, Hitotsubashi University
When does aggregation reduce risk aversion?
By Christopher P. Chambers; Caltech Federico Echenique; Caltech
Presented by: Christopher Chambers, California Institute of Technology

Session 147: Empirical International Trade
Session Organizer: Takatoshi Tabuchi, University of Tokyo
Session Chair: Cheolbeom Park, Korea University
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: S8
Industrial Localization and Countries' Specialization in the European Union: An Empirical Investigation
By Astrid Krenz; University of Goettingen Gerhard Ruebel; University of Goettingen
Presented by: Astrid Krenz, University of Goettingen
FTA and Economic Growth: A Nonparametric Approach
By Jung Hur; Sogang University Cheolbeom Park; Korea University
Presented by: Cheolbeom Park, Korea University

Session 148: Empirical Analysis in Health
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Keunkwan Ryu, Seoul National University
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: L2
Returns to Plastic Surgery in Marriage and Labor Markets
JEL codes: C91, J31
By Soohyung Lee Department of Economics and MPRC University of Maryland, College Park soohlee@gmail.com; and Keunkwan Ryu Department of Economics Seoul National University ryu@snu.ac.kr
Presented by: Keunkwan Ryu, Seoul National University
The Economic Effect of Income Security and Welfare Measures for the Persons with Disabilities
By Yoshihiro Kaneko, Dr. Department of Empirical Social Security Research National Institute of Population and Social Security Research
Presented by: Yoshihiro Kaneko, National Inst of Population and Social S

Session 149: Empirical Analysis of Financial Contagion
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Fuchun LI, Bank of Canada
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: S12
A Nonparametric Test for Financial Contagion with Application to the Canadian Banking System
By Fuchun Li Bank of Canada
Presented by: Fuchun LI, Bank of Canada
Measuring Financial Contagion with Copulas
By Yue Peng; Computational Finance and Economic Agents, University of Essex, UK Wing Lon Ng; Computational Finance and Economic Agents, University of Essex, UK
Presented by: Yue Peng, Essex University

Session 150: Semi and Nonparametric Methods IV
Session Organizer: Xiaohong Chen, Yale University
Session Chair: Jae-Young Kim, Seoul National University
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: S10
A comparison of two model averaging techniques with an application to growth empirics
JEL codes: C51, C52, C13
By Jan R. Magnus; Department of Econometrics \& OR, Tilburg University. Owen Powell; CentER, Tilburg University. Patricia Prufer; Netherlands Bureau for Economic Policy Analysis
Presented by: Jan R. Magnus, Tilburg University
An Efficient Estimation for Switching Regression Models
By Xu, Dinghai; Department of Economics; University of Waterloo; Waterloo; Ontario; Canada
Presented by: Dinghai Xu, University of Waterloo
Efficient estimation of parameters in marginals
By Valentyn Panchenko; University of New South Wales, Sydney Artem Prokhorov; Concordia University, Montreal
Presented by: Artem Prokhorov, Concordia University
An Alternative Method of Estimating Maximum Entropy Density
By Jae-Young Kim School of Economics Seoul National University and Soonhwan Lee Department of Economics MIT
Presented by: Jae-Young Kim, Seoul National University

Session 151: Asymmetric Information
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Babu Nahata, University of Louisville
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: S9
First versus Second-Mover Advantage with Information Asymmetry about the Size of New Markets
JEL codes: D81, D82, L13
By Eric Rasmusen; Indiana University Bloomington Young-Ro Yoon; Wayne State University
Presented by: Young-Ro Yoon, Wayne State University
Signaling unobservable quality choice through price and advertising: The case with competing firms
[slides]
By Wu Fulan; Department of Economics, Faculty of Arts and Social Sciences, National University of Singapore
Presented by: wu lan, nus
Overall inefficiency and cycles in non-ordered screening under capacity constraints and standardization
By Sergey Kokovin; Sobolev Institute of Mathematics Babu Nahata; University of Louisville Evgeny Zhelobodko; Novosibirsk State University
Presented by: Sergey Kokovin, Sobolev Institute of Mathematics
Pricing Menu with Pareto-improving Flat Fee Option
By Sergey Kokovin; Department of Economics, Novosibirsk State University, Novosibirsk, Russia 630090 Babu Nahata; Department of Economics, University of Louisville, Louisville, Kentucky 40292 Evgeny Zhelobodko;Department of Economics, Novosibirsk State University, Novosibirsk, Russia 630090
Presented by: Babu Nahata, University of Louisville

Session 152: Pricing Decision
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Gea Lee, Singapore Management University
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: L6
Mobile Termination and Mobile Penetration
[slides]
JEL codes: D4, K23, L51
By Sjaak Hurkens; Institute of Economic Analysis Doh-shin Jeon: Toulouse School of Economics
Presented by: Sjaak Hurkens, CSIC
Number of Firms and Price Competition
By Kyle Bagwell, Gea M. Lee; Stanford University, Singapore Management University
Presented by: Gea Lee, Singapore Management University
Countercyclical Price and Price Dispersion in Customer Market
By Naohiko Wakutsu; SUNY at Buffalo
Presented by: Naohiko Wakutsu, SUNY at Buffalo

Session 153: Monetary Policy and Inflation
Session Organizer: Shinichi Fukuda,
Session Chair: Thomas Carter,
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: F
Trend inflation, nominal rigidities, and endogenous growth
By Bob Amano ; Bank of Canada Tom Carter ; Bank of Canada Kevin Moran ; Laval University
Presented by: Thomas Carter,
Monetary Policy Transmission and House Prices: European Cross Country Evidence
By Kai Carstensen, Ifo institute for economic research, CESifo and University of Munich Oliver Hülsewig, Ifo institute for economic research Timo Wollmershäuser, Ifo institute for economic research and CESifo
Presented by: Oliver Huelsewig, Ifo Institute for Economic Research, Munich

Session 154: Identification and Estimation of Structural Models
Session Organizer: Yuichi Kitamura, Yale University
Session Chair: Philip Haile, Yale University
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: L3
A Practitioner's Guide to Bayesian Estimation of Discrete Choice Dynamic Programming Models
JEL codes: C11 C35 C61 M31
By Andrew Ching; University of Toronto Susumu Imai; Queen's University Masakazu Ishihara; University of Toronto Neelam Jain; Northern Illinois University
Presented by: Masakazu Ishihara, University of Toronto
Sequential Estimation of Dynamic Programming Models with Unobserved Heterogeneity
By Hiroyuki Kasahara; University of Western Ontario Katsumi Shimotsu; Hitotsubashi University
Presented by: Katsumi Shimotsu, Queen's University
Identification of Structural Dynamic Discrete Choice Models
By Le-Yu Chen; Institute of Economics, Academia Sinica
Presented by: Le-Yu Chen, Academia Sinica
Nonparametric Identification of Multinomial Choice Demand Models with Heterogeneous Consumers
By Steven Berry; Yale University Philip Haile; Yale University
Presented by: Philip Haile, Yale University

Session 155: Education and Human Capital II
Session Organizer: Siu Fai Leung, Hong Kong University of Science and Technology
Session Chair: Ghazala Azmat, UPF
Session type: contributed
Date: August 5, 2009
Time: 11:50 - 13:10
Location: S203
Evaluating Mobility Between Unmatched Quantiles: The Effects on Generational Mobility of Changes in Family Law in the United States
JEL codes: J62, J12
By Gordon Anderson; University of Toronto Teng Wah Leo; St. Francis Xavier University
Presented by: Teng Wah Leo, St. Francis Xavier University
Heterogeneity in Returns to Work Experience
By Singapore Management University
Presented by: Ken Yamada, Singapore Management University
School Entry, Educational Attainment and Quarter of Birth: A Cautionary Tale of LATE
By Kevin Lang; Boston University Rashmi Barua; Singapore Management University
Presented by: Rashmi barua, singapore management university
The Importance of Relative Performance Feedback Information: Evidence from a Natural Experiment using High School Students
By Ghazala Azmat; University Pompeu Fabra Nagore Iriberri; University Pompeu Fabra
Presented by: Ghazala Azmat, UPF

Session 156: New Keynesian economics
Session Organizer: Tomoyuki Nakajima, Kyoto University
Session Chair: Kozo Ueda, Bank of Japan
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: S204
Inventories and Real Rigidities in New Keynesian Business Cycle Models
JEL codes: E31, F12
By Oleksiy Kryvtsov; Bank of Canada Virgiliu Midrigan; New York University
Presented by: Oleksiy Kryvtsov, Bank of Canada
The rigidity of choice: life-time savings under information processing constraints
By Antonella Tutino Federal Reserve Board
Presented by: Antonella Tutino, Board of Governors of the Federal Reserve System
Global Liquidity Trap
By Ippei Fujiwara; Institute for Monetary and Economic Studies, Bank of Japan Nao Sudo; Institute for Monetary and Economic Studies, Bank of Japan Yuki Teranishi; Institute for Monetary and Economic Studies, Bank of Japan
Presented by: Ippei Fujiwara, Bank of Japan
Capital Injection, Monetary Policy and Financial Accelerators
By Naohisa Hirakata; Bank of Japan Nao Sudo; Bank of Japan Kozo Ueda; Bank of Japan
Presented by: Kozo Ueda, Bank of Japan

Session 157: Theory of Public Finance
Session Organizer: Toshihiro Ihori, University of Tokyo
Session Chair: MITSUNOBU MIYAKE, TOHOKU UNIVERSITY
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: C1
On the axiomatic foundations of aggregate consumer surplus measures
JEL codes: D63, D61
By Mitsunobu MIYAKE; Tohoku University
Presented by: MITSUNOBU MIYAKE, TOHOKU UNIVERSITY
The Effect of Subsidy Policies on the Product Quality Improvement
By Inyong, Shin; Department of Economics, Asia University; Hyunho Kim; Science Technology Policy Institute;
Presented by: Hyunho Kim, STEPI
Emissions Permit Markets Equipped with a Safety Valve Mechanism
By Akira Maeda; Kyoto University
Presented by: Akira Maeda, Kyoto University

Session 158: Financial Econometrics II
Session Organizer: Joon Park, Texas A&M University
Session Chair: Shin Kanaya, University of Oxford
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: L7
ROBUST BACKTESTING TESTS FOR VALUE-AT-RISK MODELS
[slides]
JEL codes: C01, C14, C22
By Juan Carlos Escanciano; Indiana University Jose Olmo; City University London
Presented by: Jose Olmo, City University, London
A State Space Approach to Estimating the Integrated Variance and Microstructure Noise Component
By Daisuke Nagakura; Institute for Monetary and Economic Studies, Bank of Japan. Toshiaki Watanabe; Institute of Economic Research, Hitotsubashi University.
Presented by: Daisuke Nagakura, Bank of Japan
Separating Information Maximum Likelihood Estimation of Realized Volatility and Covariance with Micro-Market Noise
By Naoto Kunitomo; University of Tokyo Seisho Sato; The Institute of Statistical Mathematics
Presented by: Seisho Sato, The Institute of Statistical Mathematics
Estimation of Stochastic Volatility Models by Nonparametric Filtering
By Shin Kanaya; Department of Economics, University of Oxford Dennis Kristensen; Economics Department, Columbia University
Presented by: Shin Kanaya, University of Oxford

Session 159: Natural Experiment in Developing Countries
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Takashi Kurosaki, Hitotsubashi University
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: L2
English Language Premium : Evidence from a policy experiment in India
JEL codes: H4, I2, J0, O1
By Tanika Chakraborty; Washington University, St Louis Shilpi Kapur; Washington University, St Louis
Presented by: Tanika Chakraborty, Washington University
Vulnerability of Microfinance to Strategic Default and Covariate Shocks: Evidence from Pakistan
By Takashi Kurosaki; Hitotsubashi University; Hidayat Ullah Khan; Kohat University of Science and Technology
Presented by: Takashi Kurosaki, Hitotsubashi University

Session 160: Corporate Governance
Session Organizer: Takeo Hoshi, University of California, San Diego
Session Chair: Kenichi Ueda, International Monetary Fund
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: C2
Ownership Structure and Firm Performance: Evidence from a non-parametric panel
JEL codes: C14; C23; G32
By Malika Hamadi; Luxembourg School of Finance. Andreas Heinen; Universidad Carlos III de Madrid
Presented by: malika hamadi, University of Luxembourg
Banks and Labor as Stakeholders: Impact on Economic Performance
By Stijn Claessens; IMF Kenichi Ueda; IMF
Presented by: Kenichi Ueda, International Monetary Fund
The Determinants in the Timing of Downsizing
By Tomohiko Noda;Osaka Prefectural University Hisashi Okamoto;Graduate school of economics Kyoto University
Presented by: Hisashi Okamoto, Kyoto Unversity
Corporate Risk-Taking and Ownership Structure
By Teodora Paligorova Bank of Canada
Presented by: Teodora Paligorova, CERGE-EI

Session 161: Economic Analysis of Trade Structures
Session Organizer: Kazuharu Kiyono, Waseda University
Session Chair: Taiji Furusawa, Hitotsubashi University
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: L9
Non-Homothetic Preferences and Labor Heterogeneity: The Effects of Income Inequality on Trade Patterns
JEL codes: F12, D11,
By Marcelo Fukushima; Nihon University / Population Research Institute
Presented by: Marcelo Fukushima, Kobe University
Endogenous Firm Heterogeneity under Financial Imperfection: Effects of International Goods and Capital Mobility
By Taiji Furusawa; Hitotsubashi University Noriyuki Yanagawa; University of Tokyo
Presented by: Taiji Furusawa, Hitotsubashi University
Quality of Labour Markets and Trade in a Developing Country
By Fumio Dei; Graduate School of Business Administration, Kobe University
Presented by: Fumio Dei, Graduate School of Business Administrati
Intra-industry Trade and Industry Distribution of Productivity: A Cournot-Ricardo Approach
By E. Young Song; Sogang University
Presented by: E. Young Song, Sogang University

Session 162: Microeconomic Theory I
Session Organizer: Kazuya Kamiya, UNIVERSITY OF TOKYO
Session Chair: Christian Ewerhart, University of Zurich
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: L8
Lattice and Lotteries
JEL codes: C61, D11, D81
By Elena Antoniadou; ANU Leonard J Mirman; University of Virginia Richard Ruble; EM Lyon
Presented by: Elena Antoniadou, ANU
Smallness of a commodity and partial equilibrium analysis
By Takashi Hayashi; University of Texas at Austin
Presented by: Takashi Hayashi, University of Texas at Austin
Efficient Intertemporal Allocation
By Wilson, Robert; Business School, Stanford University: Kazumori, Eiichiro; The University of Tokyo
Presented by: Eiichiro Kazumori, University of Tokyo
Optimal Design and rho-Concavity
By Christian Ewerhart, University of Zurich
Presented by: Christian Ewerhart, University of Zurich

Session 163: Poverty and Child Health
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Tomoki Fujii, Singapore Management University
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: S12
Two-Sample Cross Tabulation: Application to Poverty and Child Malnutrition in Tanzania
JEL codes: I32; O15
By Tomoki Fujii; Singapore Management University Roy van der Weide; World Bank
Presented by: Tomoki Fujii, Singapore Management University
Interrelated Dynamics of Health and Poverty in Australia
By Lixin Cai; University of Melbourne Hielke Buddelmeyer; University of Melbourne
Presented by: Lixin Cai, The University of Melbourne
Child Maltreatment, Family Characteristics, and Educational Attainment: Evidence from Add Health Data
By Nori Tarui; University of Hawaii Xiangming Fang; Centers for Disease Control and Prevention (CDC)
Presented by: Nori Tarui, University of Hawaii

Session 164: Disability and Economy II
Session Organizer: Yasuyuki Sawada, University of Tokyo
Session Chair: Zeng-Hua Lu, University of South Australia
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: L4
The Employment Rate of the Graduates from High Schools for the Physically Disabled, Intellectually Disabled, and Seriously Diseased
JEL codes: J14, J21, I21
By Ryoko MOROZUMI;Faculty of Economics, Graduate School of Economics, University of Toyama
Presented by: Ryoko Morozumi, University of Toyama
Disability and Returns to Education: A Case Study from Nepal
By Kamal Lamichhane; Research Center for Advanced Science and Technology (RCAST) The University of Tokyo and Yasuyuki Sawada; Faculty of Economics The University of Tokyo
Presented by: Kamal Lamichhane, The University of Tokyo
How Do Persons with Disabilities Earn a Living?: Findings from the Field Survey Conducted in Metro Manila, the Philippines
By Jose Ramon Albert; Philippine Institute for Development Studies Soya Mori; Institute of Developing Economies Celia Reyes; Philippine Institute for Development Studies Aubrey Tabuga; Philippine Institute for Development Studies Tatsufumi Yamagata; Institute of Developing Economies Josef Yap; Philippine Institute for Development Studies
Presented by: Tatsufumi Yamagata, Institute of Developing Economies
Effects of child’s disability on the mother’s labour supply in Australia
By Zeng-Hua Lu; University of South Australia Zhi Zuo; University of South Australia
Presented by: Zeng-Hua Lu, University of South Australia

Session 165: Empirical Studies on Entry
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Yuichiro KANAZAWA, University of Tsukuba
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: L6
Land Use Regulation as a Barrier to Entry: Evidence from the Texas Lodging Industry
By Junichi Suzuki; University of Toronto
Presented by: Junichi Suzuki, University of Toronto
Competitive Structure of Japanese Automobile Market
By Haruyuki NABETA, Consultant, Aimnext Corporation. Yuichiro KANAZAWA, Professor of Statistics, Department of Social Systems and Management, Graduate School of Systems and Information Engineering, University of Tsukuba Satoshi MYOJO, Research Fellow, National Institute of Science and Technology Policy. Stephen John Turnbull,Associate Professor of Economics, Department of Social Systems and Management, Graduate School of Systems and Information Engineering, University of Tsukuba.
Presented by: Yuichiro KANAZAWA, University of Tsukuba
Testing Cost Inefficiency under Free Entry in the Real Estate Brokerage Industry
By Seung-Hyun Hong; University of Illinois at Urbana-Champaign
Presented by: Seung-Hyun Hong, University of Illinois, Urbana-Champaign

Session 166: Game Theory IV
Session Organizer: Atsushi Kajii, Kyoto University
Session Chair: Ori Haimanko, Ben-Gurion University
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: S7
Monotone Comparative Statics for Games With Strategic Substitutes
JEL codes: C60, C72
By Sunanda Roy; Drake University Tarun Sabarwal; University of Kansas
Presented by: Tarun Sabarwal, University of Kansas
On the Existence of Bayesian Cournot Equilibrium
[slides]
By Ezra Einy; Hitotsubashi University and Ben Gurion University Ori Haimanko; Hitotsubashi University and Ben-Gurion University Diego Moreno; Universidad Carlos III de Madrid Benyamin Shitovitz; University of Haifa
Presented by: Ori Haimanko, Ben-Gurion University
Noncash payment methods in a cashless economy
By Tao Zhu; Cornell University Eliot Maenner; Federal Communications Commission
Presented by: Tao Zhu, HKUST

Session 167: Productivity Issues
Session Organizer: Hiroshi Ohashi, University of Tokyo
Session Chair: Hideyuki Mizobuchi, Keio University
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: S9
Explaining Reallocation's Apparent Negative Contribution to Growth in Deregulation-Era Developing Countries
JEL codes: D24, L13, O47
By Mitsukuni Nishida; University of Chicago Amil Petrin; University of Minnesota, Twin Cities
Presented by: Mitsukuni Nishida, University of Chicago
MARKET ENTRY PATTERN AND TIMING IN AN INDUSTRY WITH TECHNOLOGICAL EVOLUTION; THE LIQUID CRYSTAL DISPLAY INDUSTRY 1969-2000
By Michiko Miyamoto; Akita Prefectural University
Presented by: Michiko Miyamoto, Akita Prefectural University
An Economic Approach to the Measurement of Productivity Growth Using Differences Instead of Ratios
By W. Erwin Diewert Hideyuki Mizobuchi; Keio University
Presented by: Hideyuki Mizobuchi, Keio University

Session 168: Heterogeneous Firms and Trade
Session Organizer: Takatoshi Tabuchi, University of Tokyo
Session Chair: Yasuhiro Sato, Osaka University
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: S8
Trade and Firm Heterogeneity in a Quality-Ladder Model of Growth
JEL codes: F10, O30
By Tetsugen Haruyama; Graduate School of Economics Kobe University Laixun Zhao; Research Institute of Economics and Business Administration
Presented by: Tetsugen Haruyama, Kobe University
A Simple Model of Offshore Outsourcing, Technology Upgrading and Welfare
By Jaewon Jung; THEMA, Université de Cergy-Pontoise Jean Mercenier; ERMES, Université Panthéon-Assas (Paris 2)
Presented by: Jaewon Jung, THEMA, Université de Cergy-Pontoise
Trade and mergers in the presence of firm heterogeneity
By Noriaki Matsushima; Kobe University Yasuhiro Sato; Osaka University Kazuhiro Yamamoto; Osaka University
Presented by: Yasuhiro Sato, Osaka University

Session 169: Global Business Fluctuations
Session Organizer: Shinichi Fukuda,
Session Chair: Isamu Ginama, Hiroshima University
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: F
Structural and Cyclical Movements of the Current Account in the U.S. 1976-2007
By Yoichi Matsubayashi Graduate School of Economics Kobe University
Presented by: Yoichi Matsubayashi, Kobe University
Exchange Rate Pass-through and Market Structure in Multi-country World
By David Hummels; Purdue University and NBER Kanda Naknoi; Purdue University
Presented by: Kanda Naknoi, Purdue University
An International Study on Inventory Fluctuations
By Isamu Ginama; Graduate School of Social Sciences, Hiroshima University Mitsuhiro Odaki; Graduate School of Social Sciences, Hiroshima University Hai Dong Wang; Graduate School of Social Sciences, Hiroshima University
Presented by: Isamu Ginama, Hiroshima University
Improving Recession Probability Forecasts in the U.S. Economy
By Munechika Katayama; Louisiana State University
Presented by: Munechika Katayama, Louisiana State University

Session 170: Nonparametric Identification and Estimation
Session Organizer: Yuichi Kitamura, Yale University
Session Chair: Andrew Chesher, University College London
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: L3
On the Nonparametric Identification of Multiple Choice Models
By Ivana Komunjer; University of California San Diego Pierre-Andre Chiappori; Columbia University
Presented by: Ivana Komunjer, University of California, San Diego
Estimating Derivatives in Nonseparable Models with Limited Dependent Variables
By Joseph G. Altonji; Yale University Hidehiko Ichimura; University of Tokyo Taisuke Otsu; Yale University
Presented by: Taisuke Otsu, Yale University
Testing for Instrument Independence in the Selection Model
By Toru Kitagawa; Brown University
Presented by: Toru Kitagawa, Brown University
Single equation endogenous binary response models
By Andrew Chesher; University College London
Presented by: Andrew Chesher, University College London

Session 171: Inequality
Session Organizer: Siu Fai Leung, Hong Kong University of Science and Technology
Session Chair: Boris Branisa Caballero, University of Goettingen
Session type: contributed
Date: August 5, 2009
Time: 14:30 - 15:50
Location: S203
Estimating Mobility and Lifetime Inequality of Labor Income in the United States and Germany Using Extensions of the Copula Approach
JEL codes: D31, J31, J60
By Tak Wai Chau; University of Rochester
Presented by: Tak Wai Chau, University of Rochester
Gender Occupational Segregation in the Russian Labour market
By Dr. Anastasia Klimova The University of Technology, Sydney
Presented by: Anastasia Klimova, UTS
The Construction of the Social Institutions and Gender Index (SIGI)
[slides]
By Boris Branisa; University of Goettingen Stephan Klasen; University of Goettingen Maria Ziegler; University of Goettingen
Presented by: Boris Branisa Caballero, University of Goettingen

Session 172: Invited Lecture: Larry G. Epstein: De Finetti Meets Ellsberg: Choice with Repeated Experiments
Session Organizer: ,
Session Chair: Takashi Ui, Yokohama National University
Session type: invited
Date: August 5, 2009
Time: 16:5 - 17:05
Location: L1

Session 173: Invited Lecture: Ariel Pakes: Static and Dynamic Analysis under Weaker Behavioral and Informational Assumptions: Some Examples
Session Organizer: ,
Session Chair: Hiroshi Ohashi, University of Tokyo
Session type: invited
Date: August 5, 2009
Time: 16:5 - 17:05
Location: F

Session 174: Invited Lecture: Giorgio Primiceri: Nominal Rigidities and Business Cycle Fluctuations
Session Organizer: ,
Session Chair: Masao Ogaki, Oho State University
Session type: invited
Date: August 5, 2009
Time: 16:5 - 17:05
Location: H

This program was last updated on 2009-08-01 12:26:28 EDT

Session 175: Fukuzawa Lecture: James Heckman: Estimating the Technology of Cognitive and Noncognitive Skill Formation
Session Organizer: ,
Session Chair: Hidehiko Ichimura, University of Tokyo
Session type: invited
Date: August 5, 2009
Time: 17:20 - 18:20
Location: Y