1 KENNETH KASA Address: 4626 W. 13th Avenue Birthdate: January 10, 1959 Vancouver, BC V6R 2V7 Citizenship: USA Telephone: (604)733-0223 (home) Social Security #: 549-04-1738 (604)291-5406 (office) email: kkasa@sfu.ca Education University of California, Berkeley, B.S. (Economics), 1981 University of Chicago, M.A. (Economics), 1985 University of Chicago, Ph.D. (Economics), 1988 Teaching Preferences Primary Field: Secondary Fields: Macroeconomics and International Finance International Trade and Econometrics Teaching Experience Associate Professor, Department of Economics, Simon Fraser University, 2001- Graduate and undergraduate courses in Macroeconomics and Econometrics. Visiting Lecturer, Haas School of Business, University of California, Berkeley, 1994-98. MBA and undergraduate courses in International Trade and Macroeconomics. Visiting Assistant Professor of Economics, Department of Economics, University of Pennsylvania, 1990-93. Undergraduate courses in Microeconomics and International Economics, and a graduate course in Econometrics. Assistant Professor of Economics, Graduate School of Management, Cornell University, 1988-1991. (On leave, 1990-91). MBA courses in International Economics and Macroeconomics Instructor, Department of Economics, University of Chicago, 1985 Undergraduate courses in International Finance and Macroeconomics Research and Work Experience Senior Economist, Research Department, Federal Reserve Bank of San Francisco, 1993-2000. Visiting Scholar, Division of International Finance, Federal Reserve Board, July 1992. Research Assistant to Professors Jacob Frenkel and Assaf Razin, 1986 Analysis of fiscal policies and real exchange rates Research Assistant to Professor Sanford Grossman, 1984 Analysis of a transactions-based model of monetary dynamics
2 Refereed Publications Learning, Large Deviations, and Recurrent Currency Crises. Forthcoming in International Economic Review. Testing Present Value Models of the Current Account: A Cautionary Note Forthcoming in Journal of International Money and Finance. Model Uncertainty, Robust Policies, and the Value of Commitment. Macroeconomic Dynamics 6, 145-166, 2002. A Robust Hansen-Sargent Prediction Formula Economics Letters 71, 43-48, 2001. A Dynamic Model of Export Competition, Policy Coordination, and Simultaneous Currency Collapse (Co-authored with Chan Huh) Review of International Economics 9, 68-80, 2001. Forecasting the Forecasts of Others in the Frequency Domain. Review of Economic Dynamics 3, 726-56, 2000. An Observational Equivalence Among H -Control Policies. Economics Letters 64, 173-80, 1999. Will the Fed Ever Learn? Journal of Macroeconomics 21, 279-92, 1999. Optimal Policy With Limited Commitment. Journal of Economic Dynamics and Control 22, 887-910, 1998. Identifying the Source of Dynamics in Disaggregated Import Data. Journal of Applied Econometrics 13, 305-20, 1998. Consumption-Based vs. Production-Based Models of International Equity Markets. Journal of International Money and Finance 16, 653-80, 1997. Monetary Policy in Japan: A Structural VAR Analysis. (Co-authored with Helen Popper). Journal of the Japanese and International Economies 11, 275-95, 1997. Common Stochastic Trends in International Stock Markets. Journal of Monetary Economics 29, 95-124, 1992 Adjustment Costs and Pricing-to-Market: Theory and Evidence. Journal of International Economics 32, 1-30, 1992 Extensions of the Hansen-Sargent Prediction Formulas to Sampled and Aggregated Data. Economics Letters 35, 291-95, 1991 Solution and Estimation of a Bivariate Interdependent Adjustment Cost Model. Economics Letters 31, 225-30, 1989.
3 Federal Reserve Publications Will Inflation Targeting Work in Developing Countries? FRBSF Economic Letter 2001-01, January 12, 2001. Knightian Uncertainty and Home Bias FRBSF Economic Letter 2000-30, October 6, 2000. The Composition of International Capital Flows FRBSF Economic Letter 2000-18, June 2, 2000. Why Attack A Currency Board? FRBSF Economic Letter 99-36, November 26, 1999. Time for a Tobin Tax? FRBSF Economic Letter 99-12, April 9, 1999. Borrowing Constraints and Asset Market Dynamics: Evidence from the Pacific Basin Economic Review 3, Federal Reserve Bank of San Francisco, 1998. Contractionary Effects of Devaluation FRBSF Economic Letter 98-34, November 13, 1998. Could Russia Have Learned from China? FRBSF Economic Letter 98-26, September 4, 1998. Export Competition and Contagious Currency Crises FRBSF Economic Letter 98-1, January 16, 1998. Generational Accounting in Open Economies. (Co-authored with Eric O N. Fisher). Economic Review 3, Federal Reserve Bank of San Francisco, 1997. (Reprinted in: Handbook of Fiscal Policy, 2001, eds. J. Rabin and G. Stevens, Marcel Dekker). Japanese Trade Deficits? FRBSF Economic Letter 97-28, October 3, 1997. Does Singapore Invest Too Much? FRBSF Economic Letter 97-15, May 15, 1997. Post-1997 Hong Kong: A View from the Financial Markets FRBSF Economic Letter 96-35, November 29, 1996. New Measures of Japanese Monetary Policy FRBSF Economic Letter 96-23, August 9, 1996. Gaiatsu FRBSF Weekly Letter 95-30, September 15, 1995. Understanding Trends in Foreign Exchange Rates FRBSF Weekly Letter 95-22, June 9, 1995. Comovements Among National Stock Markets.
4 Economic Review 1, Federal Reserve Bank of San Francisco, 1995. Finite Horizons and the Twin Deficits. Economic Review 3, Federal Reserve Bank of San Francisco, 1994. International Trade and U.S. Labor Market Trends FRBSF Weekly Letter 94-40, November 18, 1994. Growth and Government Policy: Lessons from Hong Kong and Singapore FRBSF Weekly Letter 94-36, October 21, 1994. Measuring the Gains from International Portfolio Diversification. FRBSF Weekly Letter 94-14, April 8, 1994. Other Publications Comment on How Are Shocks Propagated Internationally? Firm-level Evidence from the Russian and East Asian Crises by Kristen Forbes. In Financial Crises in Emerging Markets, edited by R. Glick, M. Spiegel, and R. Moreno, Cambridge Univ. Press, 2001. Robust Policies and the Value of Commitment: A Frequency Domain Approach Forthcoming in Robust Decision Theory in Economics and Finance, edited by Mark Salmon, Cambridge Univ. Press. Why Attack A Currency Board? Banking and Finance Law Review 16.1, pgs. 205-12, 2000. Political Freedom and Economic Growth: Lessons for Hong Kong and China. In The Financial Survey, July-August 1997, Standard & Poor s MMS. Measuring the Gains from International Portfolio Diversification. In Readings on Financial Institutions and Markets, edited by Peter S. Rose, 1995. Under Review An Information-Theoretic Approach to Robust Control Submitted to Journal of Economic Dynamics and Control The Role of Relative Performance in Bank Closure Decisions (With Mark Spiegel) Revised and resubmitted to the Journal of Financial Intermediation Working Papers The Composition of International Capital Flows: Theory and Evidence (With Reuven Glick) Learning Dynamics and Endogenous Currency Crises (With In-Koo Cho) Nash Equilibrium Learning Rules Capital Flows in Euroland (With James Dean)
5 Invited Seminars and Conference Presentations January, 2003 October, 2002 October, 2002 September 2002 February, 2002 November, 2001 November, 2000 October, 2000 October, 2000 October, 2000 August, 2000 June, 2000 April, 2000 March, 2000 Dec., 1999 May, 1999 March, 1999 July, 1998 June, 1998 October, 1997 July, 1997 October, 1996 August, 1996 July, 1996 June, 1996 March, 1996 Feb., 1996 April, 1995 August, 1994 July, 1994 January, 1994 April, 1993 March, 1993 March, 1993 March, 1993 Feb., 1993 Feb., 1993 January, 1993 Dec., 1992 July, 1992 January, 1992 October, 1991 Feb., 1991, Nov., 1990 October, 1990 August, 1990 July, 1990 Presentation, Annual AEA Meetings Seminar, Department of Economics, University of Iowa Seminar, Department of Economics, University of Illinois Discussant, Pacific Basin Conference, FRBSF/UC San Diego Seminar, Department of Economics, University of Victoria Discussant, Annual CMSG Meetings, Univ. of British Columbia Discussant, Annual SCCIE Conference, UC Santa Cruz Seminar, Department of Economics, UC Davis Seminar, Department of Economics, Arizona State University Seminar, Department of Economics, Santa Clara Univeristy Presentation, Eighth World Congress of the Econometric Society Presentation, Annual Meetings of the Society for Economic Dynamics Discussant, West Coast Japan Economic Seminar, UC Santa Cruz Seminar, Department of Economics, Simon Fraser University Presentation, Conference on Robust Decision Theory, City Univ. Bus. School, London Discussant, West Coast Japan Economic Seminar, UC Santa Cruz Seminar, Department of Economics, UC Berkeley Presentation, Berkeley International Economics Summer Camp Presentation, Annual Meetings of the Society for Economic Dynamics Seminar, Business School, University of Southern California Presentation, Annual Meetings of the Society for Economic Dynamics Seminar, Department of Economics, UC Santa Cruz Presentation, European Meetings of the Econometric Society Presentation, Annual Meetings of the Society for Economic Dynamics & Control Presentation, North American Meetings of the Econometric Society Seminar, Department of Economics, Stanford University Seminar, Department of Economics, UC Berkeley Seminar, Department of Economics, UC Davis Presentation, European Meetings of the Econometric Society Discussant, Western Economics Association Meetings Discussant, American Economic Association Meetings Seminar, Department of Economics, Georgia Institute of Technology Seminar, Department of Economics, Rutgers University Seminar, Federal Reserve Board Seminar, Department of Economics, VPI Seminar, Business School, UC Berkeley Seminar, Department of Economics, Brandeis University Seminar, Department of Economics, University of Delaware Seminar, Department of Economics, Universite de Montreal Seminar, Federal Reserve Board Seminar, Business School, Arizona State University Seminar, Department of Economics, Cornell University Seminar, Department of Economics, University of Pennsylvania Seminar, Department of Economics, Penn State University Seminar, Federal Reserve Bank of Kansas City Presentation, Sixth World Congress of the Econometric Society Presentation, Western Economics Association Meetings
Referee for: National Science Foundation, American Economic Review, European Economic Review, Journal of Monetary Economics, Economic Journal, International Economic Review, Macroeconomic Dynamics, Review of Economics and Statistics, Journal of International Economics, Journal of International Money and Finance, Journal of Economic Dynamics and Control, Journal of Econometrics, Review of Economic Dynamics, Econometric Reviews, Journal of Money, Credit, and Banking, Journal of Business and Economic Statistics, Games and Economic Behavior, Canadian Journal of Economics, Journal of Financial and Quantitative Analysis, Journal of Empirical Finance, Journal of Applied Econometrics, Journal of Macroeconomics, Southern Economic Journal, Scandinavian Journal of Economics, Journal of the Japanese and International Economies, The Manchester School, Journal of Forecasting, Contemporary Economic Policy. 6