Untitled Document

Kar-yiu Wong, University of Washington, US (co-chair)
Joshua Aizenman, University of California, Santa Cruz, US (co-chair)
Shin-ichi Fukuda, University of Tokyo, Japan
Chung Mo Koo, Kangwon National University, Korea

Joshua Aizenman, University of California, Santa Cruz, US (co-chair)
Chung Mo Koo, Kangwon National University, Korea (co-chair)

Department of Economics and Santa Cruz Center for International Economics (SSCIE), University of California, Santa Cruz, USA
Federal Reserve Bank of San Francisco, USA
Bank of Korea, Korea
Center for International Research on the Japanese Economy (CIRJE), Japan
Korea Institute of Public Finance (KIPF), Korea

Joshua Aizenman, University of California, Santa Cruz, US (co-chair)
Shin-ichi Fukuda, University of Tokyo, Japan (co-chair)
Michael Hutchison, University of California, Santa Cruz, US
Chung-Ming Kuan, Academia Sinica, Taiwan
Jie Li, Central University of Finance and Economics, China
Shin-Kun Peng, Academia Sinica, Taiwan
Mark Spiegel, Federal Reserve Bank of San Francisco, US
Won Ik Son, Korea Institute of Public Finance, Korea
Tom Willett, Claremont Graduate University, US
Yun Hi Won, Korea Institute of Public Finance, Korea
Jack Zhang, University of Hong Kong, Hong Kong, China

Michael Hutchison, University of California, Santa Cruz, US
Yin-Wong Cheung, University of California, Santa Cruz, US
Michele David, SCCIE Manager, University of California, Santa Cruz, US

For more information about this and previous conferences, please visit
http://www.apeaweb.org

“APEA 2009”

Day 1: Saturday, June 27, 2009
8:30 – 9:30 am     Local Registration and Breakfast (E2 Quadrangle)
9:30 – 10:00 am   Welcoming Remarks (Baskin Auditorium)
10:00 – 12:00 pm Sessions 1 – 5
12:00 – 2:00 pm   Lunch (E2 Quadrangle)
2:00 – 2:45pm      Keynote Speech I (Baskin Auditorium)
2:45 – 3:15 pm     Coffee Break (E2 Quadrangle)
3:15 – 5:15 pm     Sessions 6 – 10
5:30 – 8:00 pm     Reception, Dinner and Keynote Speech II *(College 9/10 Multi-Purpose Room)

Day 2: Sunday, June 28, 2009
8:00 – 9:00 am     Breakfast (E2 Quadrangle)
9:00 – 11:00 am   Sessions 11 – 15
11:00 – 11:15 amCoffee Break (E2 Quadrangle)
11:15 – 1:15 pm   Sessions 16 – 20
1:15 – 2:15 pm     Lunch (E2 Quadrangle)
2:15 – 3:00 pm   Keynote Speech III (Baskin Auditorium)
3:00 pm                Closing Remarks (Baskin Auditorium)
3:00 - 7:00 pm Optional Santa Cruz Mountains Wine-Tour & Walk through Henry Cowell
                             Redwoods State Park

DAY I, June 27 Saturday	TIME	E2 Quadrangle	Baskin Auditorium	Room 180*	Room 192*	Room 194*	Room 499**
	8:30-9:30am	Local Registration & Breakfast
	9:30-10:00am		Welcome Remarks
	10:00am-12:00pm		Session 1	Session 2	Session 3	Session 4	Session 5
	12:00-2:00pm	Lunch
	2:00-2:45pm		Keynote Speech I
	2:45-3:15pm	Coffee Break
	3:15-5:15pm		Session 6	Session 7	Session 8	Session 9	Session 10
	5:15-8:00pm	Reception, Dinner, Keynote Speech II *Meet in Quad to walk to MPR
DAY II, June 28 Sunday	8:00-9:00am	Breakfast
	9:00-11:00am		Session 11	Session 12	Session 13	Session 14	Session 15
	11:00-11:15am	Coffee Break
	11:15am-1:15pm		Session 16	Session 17	Session 18	Session 19	Session 20
	1:15-2:15pm	Lunch
	2:15-3:00pm		Keynote Speech III
	3:00pm		Closing Remarks

8:30 – 9:30 am Local Registration and Breakfast (E2 Quadrangle)

9:30 – 10:00 am Welcoming Remarks (Baskin Auditorium)

10:00 – 12:00 pm Sessions 1 – 5

1. Bank of Korea Session: Finance in the Open Economy: Baskin Auditorium
Chair: Michael Hutchison (UCSC)
Geun-young Kim, (Bank of Korea), “Double Drain, Risk of Recession and Monetary Policy in Small Open Economies”
Discussant: Michael Hutchison (UCSC)
Seong-Hun Yun (Bank of Korea), “The Impact of Exchange Rate on Trade Balance under Incomplete Exchange Rate Pass-Through”
Discussant: Reuven Glick (SF FED)
Byuong Gi Kim (Bank of Korea), “Market Structure Bargaining and Covered Interest Parity”
Discussant: Yin-Wong Cheung (UCSC)
Aizenman Joshua (UCSC), with G. Pasricha (UCSC), “Selective Swap Arrangements and the Global Financial Crisis: Analysis and Interpretation”
Discussant: Robert Dekle (USC)

2. Information and Technology Transfer in Trade: Room 180
Chair: Jennifer Poole (UCSC)
Anca Cristea (Purdue University), “Face-to-Face Communication in International Trade: Evidence from U.S. State-Level Data”
Discussant: Johannes Moenius, (University of Redlands)
Jennifer Poole (UCSC), “Business Travel as an Input to International Trade”
Discussant: Carolyn Evans (Santa Clara University)
Kiheung Kim (Kyonggi University), “Technology Spillovers and Technology Transfer Leakage from Foreign Direct Investment in Korea”
Discussant: Rajeswari Sengupta (UCSC)
Ben Zissimos (Vanderbilt University), “Patent Breadth in an International Setting”
Discussant: Katheryn Russ (UC Davis)

3. Asian Monetary and Financial Issues, I: Room 192
Chair: Ozan Sula (Western Washington University)

Manfred Keil (Claremont McKenna College), Ramkishen Rajan (George Mason University), Thomas Willett (Claremont Graduate University), “Financial Interdependence, Capital Mobility and Monetary and Exchange Rate Cooperation in Asia”
Discussant: Helen Popper (Santa Clara University)
David Parsley (Vanderbilt University) and Helen Popper (Santa Clara University), “Evaluating Exchange Rate Objectives in Monetary Policy Rules: An Application to Korea”
Discussant: Manfred Keil (Claremont McKenna College)
Kenneth Kim (Claremont Graduate University) and Thomas Willett (Claremont Graduate University), “Korean Exchange Rate Policy”
Discussant: Alice Ouyang (Central University of Finance and Economics)
Stefan Collignon (Saint Anna School of Advanced Studies, Pisa), “Monetary mercantilism and economic growth in East Asia”
Discussant: Thomas Willett (Claremont Colleges)

4. Domestic and International Financial Markets in Japan: Room 194
Organized by Institute of Statistical Research (ISR) and Tokyo Center for Economic Research (TCER)
Chair: Shin-ichi Fukuda (University of Tokyo)
Junko Shimizu (Senshu University) and Eiji Ogawa (Hitotsubashi University) “AMU Deviation Indicators and Coordinated Exchange Rate Policies under the Global Financial Crisis”
Yuri Sasaki (Meiji Gakuin University), “Exchange Rate Pass Through in Japanese Automobile Trade – Empirical Analysis based on the Interviews with Japanese Automobile Companies”
Qing-yuan Sui (Yokohama City University), “Some Causes and Consequences of the Changes in Accounting Rule: the Case of Japanese Banks”
Shin-ichi Fukuda (University of Tokyo) and Junichi Nakamura (Development Bank of Japan), “Why have ‘Zombie Firms’ Recovered in Japan?”

5. International Trade: Room 499
Chair: Kar-yiu Wong (University of Washington)
Tadashi Inoue (Hiroshima Shudo University), “Immiserizing Growth and Mobility of Capital with and without Land in Harris-Todaro Model”
Binh Tran-Nam (University of New South Wales), “An Extended Ricardian Model Under the Gossenian Assumption that Consumption Requires Time”
Ke-Shaw Lian (National Cheng-Chi University), “The welfare analyses of bilateral tariff increases under the existence of trade costs”
Lex Zhao (Kobe University), “Tainted Food, Low-Quality Products and Trade”

12:00-2:00pm: Lunch (E2 Quadrangle)

2:00-2:45pm: Keynote Speech I: Stephen Turnovsky (University of Washington).
“The Distributional Consequences of Foreign Transfers: Do they Reduce or Exacerbate Inequality?” (with Serpil Tekin)

2:45 – 3:15 pm: Coffee Break (E2 Quadrangle)

3:15 – 5:15 pm Sessions 6 – 10

6. Global Balances: Baskin Auditorium
Chair: Robert Dekle (USC)
McKinnon Ronald (Stanford), Brian Lee (Stanford) and Yi David Wang (Stanford) “The Global Credit Crisis and China’s Exchange Rate”
Dekle Robert (USC), “Global Imbalances, Productivity Differentials”
Jiang William Y. (San José State University), “The New Asia Hemisphere and the West: A Re-Examination of Global Economic and Political Power Shifts in the 21st Century.”
Michael Hutchison (UCSC) “Do Both U.S. and Foreign Macro Surprises Matter for the Intraday Exchange Rate? Evidence from Japan”

7. Trade, Investment, and Firm Heterogeneity: Room 180
Chair: Alan Spearot (UCSC)
Stephen Yeaple (Penn State University), “Global Production and Trade in the Knowledge Economy” (with Wolfgang Keller)
Discussant: Alan Spearot (UCSC)
Katheryn Russ (UC Davis), "Unleashing the Bond Market: Implications of Firm Financing Decisions for Aggregate Welfare" (with Diego Valderrama)
Discussant: Martin Bodenstein (Federal Reserve Board of Governors)
Mina Kim (Bureau of Labor Statistics), “Does Trade Liberalization Affect Labor Market Churning?”
Discussant: Jennifer Poole (UCSC)
Mine Senses (Johns Hopkins University), "Trade Liberalization and Wages: Evidence from Matched Employer-Employee Data (with Pravin Krishna and Jennifer Poole)
Discussant: Xuepeng Liu, (Kennesaw State University)

8. Asian Monetary and Financial Issues, II: Room 192
Chair: Jingjing Xu (Claremont College)
Penny Angkinand (Milken Institute), James R. Barth (Milken Institute) and Hyeongwoo Kim (Auburn University), “Are growing interdependencies among countries a source of contagion?”
Richard C.K. Burdekin (Claremont McKenna College) and Ran Tao (Claremont Graduate University), “An ABC Guide to Provincial Lending Patterns in China: Progress and Prospects”
Discussant: Jingjing Xu (Claremont McKenna College)
Priscilla Liang (Cal State University, Channel Islands), Thomas Willett (Claremont Graduate University) and Nan Zhang (Claremont Graduate University) “Asia and the Current Financial Crisis”
Discussant: Levan Efremidze (UCLA)
Masami Imai (Wesleyan University), “Bank Integration and Local Credit Cycle: Evidence from Japan.”

9. Population Economics of Population Aging: Room 194
Chair: Yin-Wong Cheung (UCSC)
Hippolyte d'Albis (Toulouse School of Economics), “Ambiguous Life Expectancy and Optimal Annuitization”
Paul Lau (University of Hong Kong), “Fertility and Mortality Changes in an Overlapping Generations Model with Realistic Demography”
Miguel Sanchez-Romero (University of California, Berkeley), “Bearing the Cost of Population Aging: Familial vs. Public Old-Age Support”
Guo Jang-Ting (UC Riverside), "Progressive Taxation and Macroeconomic (In)stability”

10. International Finance: Room 499
Chair: Eiji Ogawa (Hitotsubashi University)
Wei-ting Wang and Tsung-wu Ho (Shih Hsin University), “Emerging Markets and International Risk Sharing”
Andreas Steiner (University of Mannheim), “How Central Banks Prepare for Financial Crises - An Empirical Analysis of the Effects of Crises and Globalization on International Reserve Holdings”
Yothin Jinjarak (NTU), “Some macroeconomic consequences of rising net foreign assets”
Pym Manopimoke (University of Washington), “An Analysis of the Real Interest Rate and Monetary Policy under Regime Shifts”
5:30 – 8:00 pm Reception, Dinner and Keynote Speech II, Kyungsoo Kim, Deputy Governor, Bank of Korea (MPR - College 9/10 Multi-Purpose Room)

8:00 – 9:00 am Breakfast (E2 Quadrangle)
9:00 – 11:00 am Sessions 11 – 15

11. Development Issues: Baskin Auditorium
Chair: Inchul Kim (Sungkyunkwan University)
Nguyen Hiep (Danang University of Economics) and Shoji Nishijima (Kobe University), “Export Intensity and Impact from Firm Characteristics, Domestic Competition and Domestic Constraints in Vietnam: A Microdata Analysis”
Truong Ba Thanh and Nguyen Manh Toan (Danang University of Economics), “The Effect of Trade Liberalization on Income Distribution in Vietnam - Dynamic CGE Approach”
Ruirui Cao (Renmin University of China), “Enterprises Burdened with Social Service and Corporate Social Responsibility (CSR) in China”
Jin-Young Chung and Kar-yiu Wong (University of Washington), “Tax Policy Competition for FDI and Trade Strategy of Multinational Corporations between Two Rival Countries”

12. Estimating Trade Flows: Room 180
Chair: Alan Spearot (UCSC)
Johannes Moenius (University of Redlands), “Crossing the Border (Puzzle): On the Role of Prices in the Gravity Model” (with Victor Trindade and Wei Wu)
Discussant: Anca Cristea (Purdue University)
Maxim Belenkiy (UCSC), “The Extensive Margin in Industry-Trade: Estimation, Significance, and Implications”
Discussant: Maya Meidan (Stanford University)
Alan Spearot (UCSC), “Kicking the Bad Apples Out: Import Liberalization and Bilateral Trade”
Discussant: Peter Morrow (University of Toronto)
Peter Morrow, ( University of Toronto), “Firm Heterogeneity and Ricardian Comparative Advantage: The Impact of Domestic Competition on Export Performance”
Discussant: Stephen Yeaple (Penn State University)

13. Capital Flows, Crises and International Reserves: Room 192
Chair: Manfred Keil (Claremont McKenna College)
Levan Efremidze (UCLA), Sam Schreyer (CGU) and Ozan Sula, (Western Washington University), “Sudden Stops and Currency Crises”
Discussant: Ran Tao (Claremont Graduate University)
Chiratus Ratanamaneichat (Kasem Bundit University) and Sam Schreyer (CGU), “The spectrum of sudden stop crises: does size really not matter?”
Discussant: Penny Angkinand (Milken Institute)
Ozan Sula (Western Washington University), “Demand for International Reserves: A Quantile Regression Approach”
Discussant: Jie Lie (Central University of Finance and Economics)
Jie Lie (Central University of Finance and Economics) and Alice Ouyang (Central University of Finance and Economics), “Seigniorage, REER and a Measure of International Reserves Holding Costs”
Discussant: Ozan Sula (Western Washington University)

14. Corporate Governance and Banking: Room 194
Chair: Qing-yuan Sui (Yokohama City University)
Hiroshi Izawa (Ritsumeikan University), Kenichi Ito (Setsunan University), and Yoshihiro Dohmyo (Nara University), “The Japanese Model of Corporate Governance – Revisited”
Satoshi Koibuchi (Chiba University of Commerce), “How did Japanese banks rescue their large distressed clients? Evidences from debt forgiveness during the ‘Lost Decade’”
Yu-Hsiu Lin (National Kaohsiung University of Applied Sciences) and Len-Kuo Hu (National Chengchi University), “Optimal Bank Regulation in an Economic Boom and Recession”
Ying Gao (Northeastern University Shenyang), Yiou Li (Illinois Institute of Technology), and Ran Ma (Illinois Institute of Technology), “Empirical Research on the Relationship between the Shareholder Structure of Listed Companies in China and their stock liquidity”

15. Some Issues on Economic Policies: Room 499
Chair: Chung Mo Koo (Kangwon National University)
Unja Chae (Intel Corporation), William A. Barnett, and John W. Keating (University of Kansas), “Forecast Design in Monetary Capital Stock Measurement”
Chong Bum An (Sungkyunkwan University), “The Causes of Early Retirement: Social Security Generosity or Population Aging”
Nayoung Kim (Seoul National University), Minkyung Kim (Seoul National University), and Sangheon Kim (Seoul National University), “The Empirical Study on Influence that the Introduction of Local Government System has on Financial Balance between Regions”

16. Macro Economic Growth: Baskin Auditorium
Chair: Joshua Aizenman (UCSC)
Lim Jamus Jerome (WB), “Institutions, Education, and Economic Performance”
Young Joon Kim (UC Davis), “Simple Endogenous Growth Model with Heterogeneous Workers”
Inchul Kim and Min-Kyong Ko (Sung Kyun Kwan University), “The Impact of Religion on Growth”
Kapoor Shruti (UC Riverside), “Infant Mortality in India: District-Level Variations and Correlations”

17. The Political Economy of International Commerce: Room 180
Chair: Alan Spearot (UCSC)
Carolyn Evans (Santa Clara University), “Agricultural Protection and Electoral Systems: An Empirical Investigation” (with Nicholas Obradovich)
Discussant: Mina Kim (Bureau of Labor Statistics)
Xuepeng Liu (Kennesaw State University), “Free Trade Agreements and the Consolidation of Democracy” (with Emanuel Orneleas)
Discussant: Ben Zissimos (Vanderbilt University)
Hazel C Parcon (University of Hawai'i at Manoa), “Disaggregating PTAs and the Role of International Division of Labor on PTA Formation”
Discussant: Danielken Molina (UC San Diego)
Maya Meidan (Grad Student, Stanford University), “Vertical Integration and Trade Protection: The Case of Antidumping Duties”
Discussant: Maxim Belenkiy (UCSC)

18. Macro and Labor Issues: Room 192
Chair: Jakob de Haan (University of Groningen)
Kanda Naknoi, (Purdue), “Real Exchange Rate Fluctuations, Wage Stickiness and Markup Adjustments”
Jakob de Haan (University of Groningen), “The European Economic and Monetary Union and Labour Market Reform" [with Elżbieta Bednarek and Richard Jong-A-Pinc]
Manfred Keil (Claremont McKenna College), “Univariate Regressions of Employment on Minimum Wages in the Panel of U.S. States” [with Donald Robertson and James Symons]

19. Public Policy: Room 194
Organized by Korea Institute of Public Finance (KIPF)
Chair: Won Ik Son (Korea Institute of Public Finance)
Seung Rae Kim (Korea Institute of Public Finance), “Uncertain Climate Change, Learning, and Optimal Technological Portfolios”
Discussant: Katsuhisa Uchiyama (Development Bank of Japan)
Jin Kim (Korea Institute of Public Finance), “Tax Mix Change and Applications”
Discussant: Chong Bum An (Sungkyunkwan University)
Katsuhisa Uchiyama (Development Bank of Japan), “Environmentally Conscious Actions and Firm Value: A Case for DBJ's Environmental Rating Loan”
Discussant: Seung Rae Kim (Korea Institute of Public Finance)

20. Economic Integration: Room 499
Chair: Tadashi Inoue (Hiroshima Shudo University)
Nobuaki Yamashita (La Trobe University), “Determinants of Fragmentation Trade: A Comparative Analysis of Japan and the US”
Evelyn S. Devadason (University of Malaya), “Reorganization of Intra-ASEAN Trade Flows: The China Factor”
Juyoung Cheong, University of Queensland and Kar-yiu Wong, University of Washington, “Global Free Trade: Regionalism as a Building Block or a Stumbling Block?”

2:15-3:00 pm Keynote Speech III: Rose Andrew (UC Berkeley) and Mark Spiegel (SF FED), “The Causes and Consequences of the 2008 Financial Crisis: A MIMIC Approach.” (Baskin Auditorium)

3:00 pm: Closing remarks (Baskin Auditorium)

International Conference

Asia-Pacific Economic Association

“APEA 2009”

“APEA 2009”