Kenneth Kuttner

Professor of Economics

Office: South Academic Building Rm. 326
Webpage: http://www.williams.edu/Economics/faculty/kuttner.shtml
E-mail: Kenneth.N.Kuttner@williams.edu
Tel: (413) 597-2300
Fax: (413)597-4045
Department of Economics
Williams College
South Academic Building
Williamstown, MA 01267

Education

Harvard University, Ph.D., 1989
University of California at Berkeley,B.A., 1982
Curriculum Vitae (doc)

Fields of Specialization

International Economics
Monetary policy implementation
Central Banks' efficiency

Research

Selected Publications

Journal Articles

“Understanding the Flattening Phillips Curve,” with Tim Robinson. Forthcoming in the North American Journal of Economics and Finance

“What Explains the Stock Market’s Reaction to Federal Reserve Policy?” (with Ben S. Bernanke), Journal of Finance, Volume 60 No. 3, June 2005, pp. 1221-1258.

“The Difficulty of Discerning What’s Too Tight: Taylor Rules and Japanese Monetary Policy” (with Adam S. Posen), North American Journal of Economics and Finance, Volume 15 No. 1, March 2004, pp. 53-74.

“Fiscal Policy Effectiveness in Japan” (with Adam S. Posen), Journal of the Japanese and International Economies, Volume 16 No. 4, December 2002, pp. 536-558.

“Are There Bank Effects in Borrowers’ Costs of Funds? Evidence from a Matched Sample of Borrowers and Banks” (with R. Glenn Hubbard and Darius Palia), Journal of Business, Volume 74 No. 4, October 2002, pp. 559-582.

“The Great Recession: Lessons for Macroeconomic Policy from Japan” (with Adam S. Posen), Brookings Papers on Economic Activity, Volume 2001 No. 2, 2001, pp. 93-160.

Contributions to books and conference volumes

“Lost Decade in Translation: Did the US Learn from Japan’s Post-Bubble Mistakes?” (with James Harrigan), in Ito, Patrick and Weinstein (eds.), Reviving Japan’s Economy: Problems and Prescriptions, MIT Press, 2005, pp. 79-106.

“A Snapshot of Inflation Targeting in its Adolescence,” in Kent and Guttman (eds.), The Future of Inflation Targeting, Sydney: Reserve Bank of Australia, 2004, pp. 6-42.

“Inflation, Monetary Transparency, and G3 Exchange Rate Volatility” (with Adam S. Posen), in Balling, Hennessy and Hochreiter (eds.), Adapting to Financial Globalisation, London: Routledge, 2001, pp. 229-258.

Federal Reserve and other policy publications

“Equity Prices as Leading Indicators: The Asian Experience,” BIS Papers No. 39, Bank for International Settlements, Basle.

“Can Central Banks Target Bond Prices?” In Chung, ed., “Monetary Policy in an Environment of Low Inflation,” Seoul: The Bank of Korea, 2006. (Also available as NBER Working Paper #12454.)

“Does Inflation Targeting Work in Emerging Markets?” (With Nicoletta Batini and Douglas Laxton), International Monetary Fund World Economic Outlook, September 2005, chapter IV.

“The Role of Policy Rules in Inflation Targeting,” Federal Reserve Bank of Saint Louis Review, Volume 86 No. 4, July/August 2004, pp. 89-112.

“The Monetary Transmission Mechanism: Some Answers and Further Questions” (with Patricia C. Mosser), Federal Reserve Bank of New York Economic Policy Review, Volume 8 No. 1, May 2002, pp. 15-26.

“Personal Online Payments,” (with James McAndrews), Federal Reserve Bank of New York Economic Policy Review, Volume 7 No. 3, December 2001, pp. 35-50.

Working Papers

“The Information Content of Discount Rate Requests,” with Toshiki Jinushi, in progress.

“Do Markets Care Who Chairs the Central Bank?” (with Adam S. Posen), NBER Working Paper #13101, May 2007 (revised August 2008).

“Dating Changes in the Federal Funds Rate, 1989-92,” working paper, June 2003.

“Central Bank Independence and Managed Floating” (with Adam S. Posen), working paper, January 2003.

“The Monetary-Fiscal Policy Mix: Perspectives from the U.S.,” working paper, October 2002.

“Does Talk Matter After All? Inflation Targeting and Central Bank Behavior” (with Adam S. Posen), Federal Reserve Bank of New York Staff Report #88, October 1999.

Other

Selected Work Experience

Danforth-Lewis Professor of Economics, Oberlin College, 2004-2008.

Federal Reserve Bank of New York, 1997-2003. Assistant Vice President. FOMC Briefing Topics Coordinator for the Domestic Research function, 1998-2003; Associate Editor, Economic Policy Review, 1997-2000; Chairman, Computer and Data Committee, 2000-2003.

Columbia University Graduate School of Business. Visiting Assistant Professor, 1995-97; Adjunct Professor, 1997-2000.

Federal Reserve Bank of Chicago, 1988-95. Senior Economist and Assistant Vice President. Managed briefing process for the Federal Open Market Committee meetings.

University of Wisconsin, Madison, 1992. Visiting assistant professor.