JSME-JWE Kyoto Conference
Date: Saturday March 21, 2026
Hosted by the Center for Advanced Research in Finance (CARF), the University of Tokyo, and Tokyo Center for Economic Research (TCER)
Venue: Kyoto Institute, Library and Archives(京都学・歴彩館)
Hosted by the Center for Advanced Research in Finance (CARF), the University of Tokyo, and Tokyo Center for Economic Research (TCER)
Venue: Kyoto Institute, Library and Archives(京都学・歴彩館)
Organizers: Shin-ichi Fukuda (University of Tokyo); Toshitaka Sekine (Hitotsubashi University)
Format: Speaker: 25 minutes, Discussant: 10 minutes, Floor discussion: 10 minutes.
Session 1: Investment Behavior in Japan
Chair: Shin-ichi Fukuda (University of Tokyo)
Opening Remark
12:30pm – 1:15pm
Toshitaka Sekine (Hitotsubashi University),
“Household Demand for Japanese Government Bonds"
Discussant: Etsuro Shioji (Chuo University)
1:15pm – 2:00pm
Hiroyuki Miyamoto (Toyohashi University of Technology), Youki Kohsaka, and Yoko Nishide,
“The Effects of Financial Advice on Asset Management Behavior”
Discussant: Kimie Harada (Chuo University)
2:00pm – 2:45pm
Ikebata Takuya, Morita Mitsuru, Akiko Kamesaka (Aoyama Gakuin University),
“Analysis of Investment Behavior and Performance of Japanese Individual Investors”
Discussant: Kentaro Iwatsubo (Kobe University)
Break: 2:45pm – 3:00pm
Session 2: Macroeconomic Aspects in Japanese Financial Markets
Chair: Toshitaka Sekine (Hitotsubashi University)
3:00pm – 3:45pm
Toyoharu Takahashi (Chuo University),
“An Empirical Analysis of Pricing in the Japanese Government Bond Markets:
Using asset swap spreads to identify the relative value of fixed income”
Discussant: Hibiki Ichiue (Keio University)
3:45pm – 4:30pm
Shin-ichi Fukuda (University of Tokyo) and Naoto Soma (Yokohama National University),
“The Evolution of Inflation Expectation Anchors in Japan and Other OECD Countries”
Discussant: Masahiro Higo (University of Tokyo)
Closing Remark
17:30-19:00: Dinner (Invitation only)