The 25th Annual Macro Conference

Program

Day 1: Saturday, 18 November 2023

12:15

Registration (Please gather after having your lunch.)

12:55-

Opening address by Tsutomu Watanabe (University of Tokyo)  

Session 1    Chair: Tsutomu Watanabe (University of Tokyo)

13:00-14:10

Masayuki Inui (Morgan Stanley)

Title: Unique equilibrium in a model of secular stagnation

[Paper] [Slide]

Discussant: Taisuke Nakata (University of Tokyo)

[Slide]

(In-person Presentation in Japanese)

14:10-15:20

Ryo Horii (Osaka University)

Title: Non-exponential growth theory

[Paper] [Slide]

Discussant: Koki Oikawa (Waseda University)

[Slide]

(In-person Presentation in Japanese)

15:20-15:40

Coffee Break

Session 2     Chair: Iichiro Uesugi (Hitotsubashi University)

15:40-16:50

Junko Koeda (Waseda University)

Title: Forward guidance and its effectiveness: A macro-finance shadow-rate framework

         (coauthored with Bin Wei, Federal Reserve Bank of Atlanta)

[Paper] [Slide]

Discussant: Mototsugu Shintani (University of Tokyo)

[Slide]

(In-person Presentation in Japanese)

16:50-18:00

Shunsuke Hori (Hitotsubashi University)

Title: The secular decline in aggregate hours worked in Japan: A reinterpretation

[Paper] [Slide]

Discussant: Sagiri Kitao (University of Tokyo)

[Slide]

(In-person Presentation in English)

18:15-

Dinner and Discussion

Overview of Day 1

Day 2: Sunday, 19 November 2023

9:00

Registration

Session 3     Chair: Etsuro Shioji (Hitotsubashi University)

9:30-10:30 

Yoshiki Ando (University of Pennsylvania)

Title: Dynamics of high-growth young firms and the role of venture capitalists

[Paper] [Slide]

Discussant: Tatsuro Senga (Keio University)

[Slide]

(Online Presentation in English)

10:30-11:30

Akira Ishide (University of California, Los Angeles)

Title: Allocative efficiency during a sudden stop

[Paper] [Slide]

Discussant: Hidehiko Matsumoto (National Graduate Institute for Policy Studies(GRIPS))

[Slide]

(In-person Presentation in English)

11:30-12:30

Sitong Ding (London School of Economics)

Title: The market for inflation risk (coauthored with Saleem Bahaj, UCL and BOE, Robert Czech, BOE and Ricardo Reis, LSE)

[Paper] [Slide]

Discussant: Daisuke Miyakawa (Waseda University)

[Slide]

(In-person Presentation in English)

12:30-13:50

Lunch and Discussion

Session 4     Chair: Takayuki Tsuruga (Osaka University)

13:50-14:50

Kanato Nakakuni (University of Tokyo)

Title: Financial costs of children, education subsidies, and parental choices in equilibrium

[Paper] [Slide]

Discussant: Akihisa Kato (Osaka University)

[Slide]

(In-person Presentation in Japanese)

14:50-15:10 

Coffee Break

Session 5     Chair: Takayuki Tsuruga (Osaka University)

15:10-16:20

Masashige Hamano (Waseda University)

Title: Product dynamics and macroeconomic shocks: Insights from a DSGE model and Japanese data (coauthored with Toshihiro Okubo, Keio University)

[Paper] [Slide]

Discussant: Daisuke Fujii (Research Institute of Economy, Trade and Industry(RIETI))

[Slide]

(In-person Presentation in Japanese)

16:20-

Closing Remarks by Takayuki Tsuruga (Osaka University)