14^th ANNUAL NBER-CEPR-TCER CONFERENCE

Issues in Fiscal Adjustment

Takeo Hoshi, Toshihiro Ihori, and Sadao Nagaoka, Organizers

International House of Japan

Tokyo, Japan

December 13 and 14, 2001

PRELIMINARY PROGRAM

THURSDAY, DECEMBER 13:

9:20 AM Welcome, Organizers

9:30 AM CATHERINE BRUNO, IDEI

FRANCK PORTIER, University of Toulouse and CEPR

Tax Pot Episodes in OECD Countries: Where, When, How and to What End?

Discussants: TAKATOSHI ITO, Hitotsubashi University and NBER

KENT SMETTERS, University of Pennsylvania and NBER

10:30 AM Coffee Break

11:00 AM SANTANU CHATTERJEE, University of Georgia

STEPHEN TURNOVSKY, University of Washington

Spending the US Government Surplus: A Numerical Analysis of the Policy

Options

Discussants: SHIN-ICHI FUKUDA, University of Tokyo

TOSHIHIRO IHORI, University of Tokyo

12:00 PM Lunch

1:30 PM ALBRECHT RITSCHL, Humboldt University and CEPR

Deficit Spending in the Nazi Recovery, 1933-1938: A Critical Reassessment

Discussants: SADAO NAGAOKA, Hitotsubashi University

TETSUJI OKAZAKI, University of Tokyo

2:30 PM Coffee Break

-OVER-

3:00 PM RYUTA RAY KATO, Imperial College

Government Deficit, Public Investment and Public Capital in the Transition to an Aging Japan

Discussants: TAKEO HOSHI, University of California, San Diego

MAKOTO SAITO, Hitotsubashi University

4:00 PM Coffee Break

4:30 PM KENNETH KUTTNER, Federal Reserve Bank of New York

ADAM POSEN, Institute for International Economics

Is Capital Mobility Overrated? The Fiscal Joys of Japan's Stay-at-Home Savers

Discussants: TSUTOMU WATANABE, Hitotsubashi University

NAOYUKI YOSHINO, Keio University

5:30 PM Adjourn

6:00 PM Group Dinner

Golden Nira-Manjyuh

FRIDAY, DECEMBER 14:

9:30 AM ANDREW HUGHES HALLETT, University of Strathclyde and CEPR

ROLF STRAUCH, European Central Bank

JURGEN VON HAGEN, University of Bonn and CEPR

Budgetary Consolidation in Europe: Quality, Economic Conditions and Persistence

Discussants: SAHOKO KAJI, Keio University

ADAM POSEN, Institute for International Economics

10:30 AM Coffee Break

11:00 AM TAKERO DOI, Keio University

TOSHIHIRO IHORI, University of Tokyo

Fiscal Reconstruction and Local Interest Groups in Japan

Discussants: HIDEKI KONISHI, Gakushuin University

KENT SMETTERS, University of Pennsylvania and NBER

12:00 PM YASUSHI IWAMOTO, Kyoto University

The Fiscal Investment and Loan Program in Transition

Discussants: TAKERO DOI, Keio University

MITSUHIRO FUKAO, Keio University

1:00 PM Lunch

2:00 PM Adjourn

12/11/01