NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

PHILIPPINE INSTITUTE FOR DEVELOPMENT STUDIES

CHINESE CENTER FOR ECONOMIC RESEARCH

CHUNG-HUA INSTITUTION FOR ECONOMIC RESEARCH

HONG KONG UNIVERSITY OF SCIENCE AND TECHNOLOGY

KOREA DEVELOPMENT INSTITUTE

PRODUCTIVITY COMMISSION, AUSTRALIA

SINGAPORE MANAGEMENT UNIVERSITY

TOKYO CENTER FOR ECONOMIC RESEARCH

16th Annual East Asian Seminar on Economics

Fiscal Policy and Management

Takatoshi Ito and Andrew Rose, Organizers

June 23-25, 2005

Westin Philippine Plaza Hotel

CCP Complex, Pasay City

Metro Manila, Philippines

PROGRAM

WEDNESDAY, JUNE 22:
6:30 pm	Welcome Dinner - Westin Philippine Plaza Hotel
THURSDAY, JUNE 23:
8:45 am	Registration
9:15 am	Welcome / Keynote Speech
	HON. ROMULO L. NERI
	Secretary, Socioeconomic Planning and Chair, PIDS Board of Trustees
9:30 am	Chair, Andrew Rose
	ROGER GORDON, UC, San Diego and NBER
	WEI LI, University of Virginia
	Financial, Taxation, and Regulatory Structure in Developing Countries
	Discussants: Francis Lui
	Michael Alba
	ROBERTO MARIANO and DELANO VILLANUEVA, Singapore Management University
	Sustainable External Debt Levels: Estimates for Selected Asian Countries
	Discussants: Francis Lui
	Rosario Manasan
	SEOK-KYUN HUR, Korea Development Institute
	Measuring the Effectiveness of Fiscal Policy in Korea
	Discussants: Wei Li
	Yum-Keung Kwan
12:30 pm	Lunch
2:00 pm	Chair, Anne Krueger
	RAJ CHETTY, UC, Berkeley and NBER
	ADAM LOONEY, Federal Reserve Board
	Social Insurance in Developing Economies
	Discussants: Roger Gordon
	Mario Lamberte
	CHIH-CHIN HO, National Taiwan University
	Estate and Gift Taxation in Taiwan:
	An Analysis of the Current System and Some Proposals for Reform
	Discussants: Takatoshi Ito
	Felipe Medalla
4:00 pm	Adjourn
6:00 pm	Welcome Cocktail Reception Hosted by Bangko Sentral ng Pilipinas
FRIDAY, JUNE 24:
9:00 am	Chair, Josef Yap
	WILSON AU-YEUNG, JASON MCDONALD and AMANDA SAYEGH, Australian Treasury
	Australian Government Balance Sheet Management
	Discussants: Young-Sun Koh
	Corrinne Ho
	YUM-KEUNG KWAN, City University of Hong Kong
	The Direct Substitution between Government and Private Consumption in East Asia
	Discussants: Kiyoshi Mitsui
	Mario Lamberte
	YASUSHI IWAMOTO, University of Tokyo
	Policy Options for Financing the Future Health and Long-Term Care Costs in Japan
	Discussants: Epictetus Patalinghug
	Raj Chetty
12:00 pm	Lunch
2:00 pm	Excursion
6:00 pm	Dinner
SATURDAY, JUNE 25:
9:00 am	Chair, Takatoshi Ito
	GILBERTO LLANTO, Philippine Institute for Development Studies
	Dealing with Contingent Liabilities: The Philippines
	Discussants: Jason McDonald
	Shigeki Kunieda
	YOUNG-SUN KOH, Korea Development Institute
	Reforming the Fiscal Management System in Korea
	Discussants: Gilberto Llanto
	Chong Hyun Nam
	YOUNG JUN CHUN, University of Incheon <moved to the last session in the morning>
	Population Aging, Fiscal Policies, and National Saving:
	Prediction for Korean Economy
	Discussants: Laurence Kotlikoff
	Shigeki Kunieda
12:00 pm	Lunch
1:30 pm	Chair, Andrew Rose
	TAKERO DOI, Keio University
	TOSHIHIRO IHORI, University of Tokyo
	KIYOSHI MITSUI, Gakushuin University
	Sustainability, Debt Management, and Public Debt Policy in Japan
	Discussants: Eli Remolona,
	Dante Canlas
	HANS FEHR, University of Wuerzburg
	SABINE JOKISCH, University of Wuerzburg
	LAURENCE KOTLIKOFF, Boston University and NBER
	Simulation the Joint Demographic / Fiscal / Economic Transition of China, Japan, the U.S., and the EU
	Discussants: Yasushi Iwamoto
	Cielito Habito
4:30 pm	Adjourn
6:00 pm	Dinner - Westin Philippine Plaza Hotel
Presentation: 30min. Each discussant: 10 min.
7/21/05