神戸大学金融研究会(RIEBセミナー共催) Monetary Economics Seminar of Kobe University (Jointly supported by RIEB Seminar)

日時
(Date&Time)
2015年6月13日(土)午後3時00分から (Saturday, June 13, 2015, 3:00pm-)
会場
(Place)
神戸大学経済経営研究所 会議室(研究所新館2階)
Meeting Room at RIEB (Annex 2nd Floor)
対象
(Intended Audience)
基本的に会員制の研究会ですが、非会員で関心のある方の参加も歓迎します。
The seminar is primarily for the workshop members. But non-members are also welcome to attend.
備考
(Note)
論文のコピーは開催日当日に会場にご用意いたします。
Copies of the paper will be available on that day of the seminar at meeting place.

セミナー後に懇親会を予定しております。セミナーへ参加を希望される方はお手数ですが、懇親会へのご出欠と併せご氏名、ご所属、ご連絡先(メールアドレス)を開催日の1週間前までに共同研究推進室へご連絡下さい。なお、懇親会の詳細については追ってご連絡いたします。
There will be a reception held after the seminar. If you would like to attend this seminar, please email us at Office of Promoting Research Collaboration your name, affiliation, email address and whether you will attend the reception or not, by a week before the workshop. Details will be notified later.

3:00pm~4:30pm

報告者
(Speaker)
福本 幸男 氏 (Yukio FUKUMOTO)
所属
(Affiliation)
大阪経済大学経済学部 (Faculty of Economics, Osaka University Of Economics)
論題
(Topic)
Age Structure and Trade Openness: An Empirical Investigation
概要
(Abstract)
This research focuses attention on the relationship between age structure and trade openness. Dependent population tend to spend more for non-tradable goods such as childcare, education, nursing care, and medical services than working-age population and it is hypothesized that higher share of dependent population lowers trade openness. We investigate the effects of age structure on trade openness empirically using panel data of 85 countries from 1991 to 2010 and simulate trade openness based on changes in age structure from 1991 to 2100. The estimation results show that an increase in the share of working age (dependent) population in total population has a positive (negative) effect on trade openness. The simulation results show that age structure will raise trade openness until the beginning of 21st century but will not raise it after that. Therefore, it is possible that trade openness will decline in the future if trade barriers do not decrease further.

4:30pm~6:00pm

報告者
(Speaker)
佐藤 清隆 氏 (Kiyotaka SATO)
所属
(Affiliation)
横浜国立大学大学院国際社会科学府・研究院 (Graduate School of International Social Sciences, Yokohama National University)
論題
(Topic)
Choice of Invoice Currency in Global Production and Sales Network: The Case of Japanese Overseas Subsidiaries
概要
(Abstract)
This paper empirically investigates the invoicing decision in trade of Japanese production subsidiaries, using the novel dataset obtained from the questionnaire survey. We sent out questionnaires in August 2010 to all Japanese subsidiaries located in North America, Europe and Asia to collect the product-level information on the choice of invoice currency in importing intermediate inputs and exporting production goods along the production chain. By conducting the Probit and Logit estimation, we demonstrate that the invoicing choice of intra-firm trade along the production chain depends on the destination of subsidiary's exports as well as the degree of exchange rate volatility. Subsidiaries tend to choose yen invoicing only in exports of intermediate inputs to Japan, while major currencies such as the US dollar and, to a lesser extent, the euro are typically chosen in subsidiary's exports of finished goods to other countries. To accommodate the currency mismatch caused by the choice of foreign currency invoicing, Japanese subsidiaries need efficient management of the exchange rate risk in the face of large fluctuations of the local currency.

6:30pm~

懇親会 (Recepetion)