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2012 BOJ-IMES Conference:
Demographic Changes and Macroeconomic Performance

May 30th - 31st, 2012
Institute for Monetary and Economic Studies, Bank of Japan
Preliminary and Subject to Changes

Wednesday, May 30th, 2012

9:00 Opening Session
Chairperson: Tomoo Yoshida,
Bank of Japan
Opening Remark: Masaaki Shirakawa (English / Japanese),
Bank of Japan
Keynote Speech: Marvin Goodfriend, (paper)
Carnegie Mellon University
10:00 Session 1: Macroeconomic Implications of Demographic Changes: A Global Perspective (paper)
Chairperson: James B. Bullard,
Federal Reserve Bank of St. Louis
Paper Presenter: Ronald D. Lee,
University of California at Berkeley
Discussant: Naohiro Ogawa,
Nihon University
10:55 Coffee Break  
11:15 Session 2: Societal Aging: Implications for Fiscal Policy (paper)
Chairperson: Pierre Jaillet,
Banque de France
Paper Presenter: Alan J. Auerbach,
University of California at Berkeley
Discussants: Willem Heeringa,
De Nederlandsche Bank
  Selahattin İmrohoroğlu,
University of Southern California
12:30 Lunch  
14:00 Mayekawa Lecture (paper)
Chairperson: Charles I. Plosser,
Federal Reserve Bank of Philadelphia
Lecturer: Otmar Issing,
Goethe University Frankfurt
15:10 Session 3: Demographics, Redistribution, and Optimal Inflation (paper)
Chairperson: Hiroshi Nakaso,
Bank of Japan
Paper Presenter: Christopher J. Waller,
Federal Reserve Bank of St. Louis
Discussants: Hiroshi Fujiki,
Bank of Japan
  Philipp Hartmann,
European Central Bank
16:25 Coffee Break
16:45 Session 4: Monetary Policy and the Demographic Transition
Chairperson: Pierre St-Amant,
Bank of Canada
Paper Presenter: Andrea Ferrero,
Federal Reserve Bank of New York
Discussants: Piti Disyatat,
Bank of Thailand
  John Sequeira,
Monetary Authority of Singapore
18:00 Adjournment

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Thursday, May 31st, 2012

8:30 Session 5: Aging and Household Stockholdings: Evidence from Japanese Household Survey Data (paper)
Chairperson: Ryuzo Miyao,
Bank of Japan
Paper Presenter: Naohisa Hirakata,
Bank of Japan
Discussant: Előd Takáts,
Bank for International Settlements
9:10 Coffee Break
9:30 Policy Panel Discussion
Moderator: Kiyohiko G. Nishimura,
Bank of Japan
Panelists: Donald L. Kohn,
The Brookings Institution
Maurice Obstfeld,
University of California at Berkeley
Glenn Stevens,
Reserve Bank of Australia
Nout Wellink,
De Nederlandsche Bank (formerly)

11:30 Adjournment

Please note that attendance is by invitation only.
As of Jul. 2, 2012

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