Opening Remarks Takafusa Shinoya

Sessions: 　A Broad Perspective on Japan's Fiscal Dedicit Problem

Sessions 1
Sustainability of Goverment Deficits in Japan: Including Trends in Local Government Finance Takero Doi Toshihiro Ihori

Sessions 2
Japanese Tax Reform toward Vitalizing the Japanese Economy Shigeki Morinobu

Sessions 3
Japanese Banks should be Proactive in Fostering the Asian Bond Market: A Machanism to Circulate Local Money within the Region is Required Naoyuki Yoshino Shigehito Inukai

Sessions 4
Reform of Japanese Financial Capital Market Infrastructure and the Current Status of Asian financial Capital Markets Shigehito Inukai

Sessions 5
Recent Changes in Retirement Benefits in Japan and Relevant Public Policy Issues Masaharu Usuki

Sessions 6
Japan's Bubble: Monetary Stability and Structural Economic Reform Huw Pill

Presentations: 　Problems Related to Inflation and Deflation and the Economic and Social Structual Problem in Japan

Presentation 1
Fiscal Policy Embedded in Inflation Targeting Nobusuke Tamaki

Presentation 2
On Investment of the Reserve Fund of Public Pension Programs Nobusuke Tamaki

Presentation 3
Japanese Corporate Management: Status Quo and Programs Naouki Togashi

Presentation 4
Conditions for Creating a New Japan: Proposals for Establishing an "Open Society of Trust and Independence" and Boundary-Crossinf Soft Infrastructure Shigehito Inukai

Presentation 5
Results of Quantitative Analysis of Deflationary Factors Naoyuki Yoshino

Closinging Remarks Masako Egawa