March 2008

Curriculum Vitae

Kenneth A. Froot

www.people.hbs.edu/kfroot

Harvard University National Bureau of Economic Research

Graduate School of Business 1050 Massachusetts Avenue

Boston, MA 02163 Cambridge, MA 02138

(617) 495-6677 (617) 868-3900

Education:

University of California at Berkeley, Ph.D. in Economics (July 1986). Fields: Finance, International Economics, Econometrics.

Stanford University, B.A. (April 1980).

Academic Positions:

Harvard University, Graduate School of Business. André R. Jakurski Professor of Business Administration (1999-present), Director of Research (1996-2000), Industrial Bank of Japan Professor of Finance (1995-1999), Thomas Henry Carroll-Ford Visiting Professor of Business Administration (1991-1993), Visiting Assistant Professor of Business Administration (1989-1990). Courses: Risk Management, Capital Markets, International Managerial Finance, Corporate Finance.

Massachusetts Institute of Technology, Sloan School of Management. Associate Professor of Management with Tenure (1991-1992), Ford International Development Chair Professor (1987-1990), Assistant Professor of Applied Economics (1986-1987). Courses: International Corporate Finance and Capital Markets; International Economics; and Macro- and Microeconomics.

Other Academic Positions:

National Bureau of Economic Research. Chairman, NBER Project on Insurance. Research Associate (1990-present), Faculty Research Fellow (1987-1990). Program affiliations: International Financial Studies; Asset Pricing; Corporate Finance; Behavior Finance Working Group; Monetary Economics.

Kiel Institut für Weltwirtschaft, Visiting Scholar (August 1991).

Selected Other Positions:

FDO Partners, LLC, Founder and Partner (1997-present).

State Street Associates, Founding Partner (1999-present).

Merrill Lynch Mutual Funds, Independent Director (2005-2007).

BlackRock Mutual Funds, Independent Director (2007-present).

Goldman Sachs, & Co., Standard and Poor’s, Member, GSCI Policy Review Committee (1993-present).

Oneshield, Member, Strategic Advisory Board (2000-present).

Export-Import Bank of the United States, Economic Advisory Council, member (1993-1995).

Federal Republic of Slovenia, Yugoslavia, Consultant to the Prime Minister (1991-1992).

Federal Reserve Board of Governors, Consultant, International Finance Division (1992, 1986, and 1985).

World Bank, Consultant, Country Policy Depart. (1984-1985), International Finance Division (1988-1989).

Council of Economic Advisers, Executive Office of the U.S. President. Staff Economist for International Trade and Finance (1983-1984).

International Monetary Fund, Consultant, Research Department (1991, 1989, 1983).

Honors, Grants and Fellowships:

Institute for Quantitative Research in Finance Grant (1992, 1996).

Term member, Council on Foreign Relations (1991-1996).

Alfred P. Sloan Research Grant (with R. Dornbusch and P. Krugman) (1988-1991).

John Olin Fellow, National Bureau of Economic Research (1988-1989).

Ford International Career Development Chair, Massachusetts Institute of Technology (1987-1990).

Institute for Quantitative Research in Finance Grant (1987).

Center for Economics and Monetary Affairs Research Award (1987).

Alfred P. Sloan Doctoral Dissertation Fellow (1985-1986).

University of California Regents Fellow (1983-1985).

Newton Booth Fellowship (1981-1982).

Stanford University Meinecke Fellow, West Berlin (1979-1980).

Refereeing and Editorships:

American Economic Review; Journal of Finance; Journal of Financial Economics; Econometrica; Quarterly Journal of Economics; Review of Economic Studies; Journal of International Economics; Review of Financial Studies; Journal of the American Statistical Association; Journal of Monetary Economics; Journal of Money, Credit and Banking; Journal of International Money and Finance; Journal of Development Economics; International Economic Review; European Economic Review; Journal of Banking and Finance; Journal of Applied Econometrics; Journal of Macroeconomics; Review of Economics and Statistics; Financial Management; Journal of International Financial Management and Accounting; Review of International Economics; Quarterly Review of Economics and Business; University of Chicago Press; MIT Press; Institute for International Economics; Bulletin of Economic Research.

Head Advisory Board Member, EGADE Center for Risk Management (1999-present).

Advisory Board Member, International Journal of Finance Education (2001-present).

Advisory Board Member, Journal of Risk Finance (1999-present).

Advisory Board Member, The Emerging Markets Review (1999-present).

Advisory Board Member, The Financier (1998-present).

Advisory Board Member, The Arbitrageur (1998-present).

Advisory Board Member, International Finance (1997-present).

Advisory Board Member, International Finance Abstracts (1996-present).

Editorial Board Member, Finance Letters (2003-present).

Editor, Journal of International Financial Management and Accounting (1992-present).

Associate Editor, Journal of International Economics (1991-1998).

Associate Editor, Finance Letters (2002-present).

Academic Journal Articles:

“On the Pricing of Intermediated Risks: Theory and Application to Catastrophe Reinsurance,” with P. O’Connell, Special Issue: Dynamics of Insurance Markets: Structure, Conduct, and Performance in the 21^st Century, Journal of Banking and Finance 32, no. 1 (January 2008): 69-85. (Revised from NBER Working Paper no. 6011, April 1997, Harvard Business School Working Paper no. 98-024, 1997.)

“Institutional Portfolio Flows and International Investments,” with T. Ramadorai, Review of Financial Studies 21, no. 2 (April 2008): 937-971. (Formerly “The Information Content of International Portfolio Flows,” revised from NBER Working Paper no. 8472, September 2001, Harvard Business School Working Paper no. 03-006, 2002, revised December 2005.)

“Risk Management, Capital Budgeting and Capital Structure Policy for Insurers and Reinsurers,” Journal of Risk and Insurance 74, no. 2 (June 2007): 273-299. (Revised from NBER Working Paper no. 10184, Harvard Business School Working Paper no. 04-035, December 2003.)

“Decomposing the Persistence of International Equity Flows,” with J. Tjornhom Donohue, Finance Research Letters, Volume 1, Issue 3 (September 2004): 154-170. (Revised from NBER Working Paper no. 9079, July 2002, Harvard Business School Working Paper no. 03-005, July 2002.)

“Currency Returns, Intrinsic Value, and Institutional Investor Flows,” with T. Ramadorai, Journal of Finance 60, no. 3 (June 2005): 1535-1566. (Revised from NBER Working Paper no. 9101, August 2002. Revised, Harvard Business School Working Paper no. 04-036, December 2003.)

“The Persistence of Emerging Market Equity Flows,” with J. Donohue, Emerging Markets Review 3, no. 4 (December 2002): 338-364. (Revised from NBER Working Paper no. 9241, Harvard Business School Working Paper no. 03-035, September 2002.)

“The Pricing of Event Risks with Parameter Uncertainty,” with S. Posner, Geneva Papers on Risk and Insurance Theory 27, no. 2 (December 2002): 153-165. (Revised from NBER Working Paper no. 8106, February 2001.)

“The Market for Catastrophe Risk: A Clinical Examination,” Journal of Financial Economics 60, nos. 2-3 (May/June 2001): 529-571. Reprinted in The Economics of Natural Hazards, part of the International Library of Critical Writings in Economics series edited by M. Blaug, UK: Edward Elgar Publishing Limited, 2003. (Revised from NBER Working Paper no. 8110, February 2001.)

“The Portfolio Flows of International Investors,” with P. O’Connell and M. Seasholes, Journal of Financial Economics 59, no. 2 (February 2001): 151-193. Summarized in the NBER Reporter, 2000. Reprinted in International Capital Markets, edited by R. Stulz and A. Karolyi, UK: Edward Elgar Publishing Limited, 2003. (Revised from NBER Working Paper no. 6687 and Harvard Business School Working Paper no. 99-006, August 1998.)

“The Evolving Market for Catastrophe Event Risk,” Risk Management and Insurance Review 2, no. 3 (Fall 1999): 1-28. Reprinted in Risk Management: The State of the Art, edited by S. Figlewski and R. Levich, Kluwer Academic Publishers, 2001.

“How are Stock Prices Affected by the Location of Trade?,” with E. Dabora, Journal of Financial Economics 53, no. 2 (August 1999): 189-216. Reprinted in International Capital Markets, edited by R. Stulz and A. Karolyi, UK: Edward Elgar Publishing Limited, 2003. Also reprinted in Advances in Behavioral Finance, Vol. 2, edited by R. Thaler, New Jersey: Princeton University Press; New York: Russell Sage Foundation, July 2005, 102-129.

“A New Approach to Capital Budgeting for Financial Institutions,” with J. Stein, Journal of Applied Corporate Finance 11, no. 2 (Summer 1998): 59-69.

“Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach,” with J. Stein, Journal of Financial Economics 47, no. 1 (January 1998): 55-82. Winner of the 1998 Journal of Financial Economics Jensen First Prize for Corporate Finance and Organizations. (Revised from NBER Working Paper no. 5403, January 1996 and Harvard Business School Working Paper no. 96-030, December 1995.)

“New Trading Practices and Short-Run Market Efficiency,” with A. Perold, Journal of Futures Markets 15, no. 7 (October 1995): 731-766. (Revised from NBER Working Paper no. 3498, October 1990.)

“Hedging Portfolios with Real Assets,” Journal of Portfolio Management 21, no. 4 (Summer 1995): 60-77. (Revised from Harvard Business School Working Paper no. 95-045, September 1993.)

“Conditional Mean-Variance Efficiency of the U.S. Stock Market,” with C. Engel, J. Frankel and T. Rodrigues, revised as “Tests of Conditional Mean-Variance Efficiency of the U.S. Stock Market,” Journal of Empirical Finance 2, no. 1 (March 1995): 3-18. (Revised from NBER Working Paper no. 2890, March 1989 and (revised) 4292, March 1993.)

“Risk Management: Coordinating Corporate Investment and Financing Policies,” with D. Scharfstein and J. Stein, Journal of Finance 48, no. 5 (December 1993): 1629-1658. Reprinted in RAE-Revista de Administração de Empresas, Management Journal of Fundação Getulio Vargas (FGV-EAESP), Business School for Administration in Sao Paulo, Brazil, volume no. 48, issue no. 1 (January-March 2008): 87-118. Forthcoming reprint in Insurance and Risk Management, edited by Gregory R. Niehaus, UK: Edward Elgar Publishing Ltd. (October 2008). Reprinted in The Theory of Corporate Finance, M.J. Brennan, in the series, The International Library of Critical Writings in Financial Economics, edited by R. Roll, 1995. Reprinted in Corporate Hedging In Theory and Practice: Lessons From Metallgesellschaft, edited by M. Miller and C. Culp, Risk Books, July 1999. (Revised from NBER Working Paper no. 4084, February 1993.)

“Herd on the Street: Informational Inefficiencies in a Model with Short-Term Speculation,” with D. Scharfstein and J. Stein, Journal of Finance 47, no. 4 (September 1992): 1461-1484. (Revised from NBER Working Paper no. 3250, February 1990.)

“Intrinsic Bubbles: The Case of Stock Prices,” with M. Obstfeld, American Economic Review 81, no. 5 (December 1991): 1189-1214. Reprinted in Speculation and Financial Markets, edited by M. Taylor and L. Gallagher, UK: Edward Elgar Publishing Limited, 2001. (Revised from NBER Working Paper no. 3091, March 1992.)

“Exchange-rate Dynamics under Stochastic Regime Shifts: A Unified Approach,” with M. Obstfeld, Journal of International Economics 31 (November 1991): 203-230. (Revised from NBER Working Paper no. 2835, February 1989.)

“Exchange Rates and Foreign Direct Investment: An Imperfect Capital Markets Approach,” with J. Stein, Quarterly Journal of Economics 106, no. 4 (November 1991): 1191-1217. (Revised from NBER Working Paper no. 2914, March 1989.)

“Stochastic Process Switching: Some Simple Solutions,” with M. Obstfeld, Econometrica 59, no. 1 (January 1991): 241-250. Reprinted in Exchange Rates and Currency Bonds, edited by P. Krugman and M. Miller, London: CEPR, 1991. (Revised from NBER Working Paper no. 2998, July 1989.)

“Anomalies: Foreign Exchange,” with R. Thaler, Journal of Economic Perspectives 4, no. 3 (Summer 1990): 179-192. Reprinted in Current Issues in the International Economy: A Reader, edited by L. Goldberg and M. Klein, New York: Harper Collins Publishers, 1992. Reprinted in Speculation and Financial Markets, edited by M. Taylor and L. Gallagher, UK: Edward Elgar Publishing Limited, 2001. Also reprinted in Open Economy Macroeconomics edited by N. Miller, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, Volume II, Part I, Article 4 (March 2006): 74-87.

“Chartists, Fundamentalists, and Trading in the Foreign Exchange Market,” with J. Frankel, American Economic Review 80 (May 1990): 181-185. Reprinted in New Developments in Exchange Rate Economics, edited by L. Sarno and M. Taylor, UK: Edward Elgar Publishing Limited, 2001. Reprinted in Speculation and Financial Markets, edited by M. Taylor and L. Gallagher, UK: Edward Elgar Publishing Limited, 2001.

“LDC Debt: Forgiveness, Indexation, and Investment Incentives,” with D. Scharfstein and J. Stein, Journal of Finance 44, no. 5 (December 1989): 1335-1350. (Revised from NBER Working Paper no. 2541, March 1988.)

“On the Consistency of Short-Run and Long-Run Exchange Rate Expectations,” with T. Ito, Journal of International Money and Finance 8, no. 4 (December 1989): 487-510. (Revised from NBER Working Paper no. 2577, May 1988.)

“Consistent Covariance Matrix Estimation with Cross-Sectional Dependence and Heteroskedasticity in Cross-Sectional Financial Data,” Journal of Financial and Quantitative Analysis 24, no. 3 (September 1989): 333-355. (Revised from NBER Technical Working Paper no. 62.)

“Exchange Rate Pass-Through When Market Share Matters,” with P. Klemperer, American Economic Review 79, no. 4 (September 1989): 637-654. (Revised from NBER Working Paper no. 2542, October 1989.)

“New Hope for the Expectations Hypothesis of the Term Structure of Interest Rates,” Journal of Finance 44, no. 2 (June 1989): 283-305. Reprinted in Behavioral Finance, edited by H. Shefrin, in International Library of Critical Writings in Financial Economics, edited by R. Roll, UK: Edward Elgar Publishing Limited, 2000. (Revised from NBER Working Paper no. 2363, March 1990.)

“Buybacks, Exit Bonds, and the Optimality of Debt and Liquidity Relief,” International Economic Review 30, no. 1 (February 1989): 49-70. Translated into Spanish in Estudios Economicos 4 (July 1989): 31-60. (Revised from NBER Working Paper no. 2675, July 1988.)

“Forward Discount Bias: Is it an Exchange Risk Premium?,” with J. Frankel, Quarterly Journal of Economics 104, no. 1 (February 1989): 139-161. Reprinted in Advances in Behavioral Finance, edited by R. Thaler, New York: Russell Sage Foundation, 1993: 359-382. Reprinted in Speculation and Financial Markets, edited by M. Taylor and L. Gallagher, UK: Edward Elgar Publishing Limited, 2001. (Revision of “Findings of Forward Discount Bias Interpreted in Light of Exchange Rate Survey Data,” NBER Working Paper no. 1963, and Sloan Working Paper no. 1906-87, August 1987.)

“Credibility, Real Interest Rates, and the Optimal Speed of Trade Liberalization,” Journal of International Economics 25 (1988): 71-93. (Revised from NBER Working Paper no. 2358, May 1987.)

“Using Survey Data to Test Standard Propositions Regarding Exchange Rate Expectations,” with J. Frankel, American Economic Review 77, no. 1 (March 1987): 133-153. (Revised from NBER Working Paper no. 1672.)

“Understanding the U.S. Dollar in the Eighties: The Expectations of Chartists and Fundamentalists,” with J. Frankel, Economic Record, Special Issue (December 1986): 24-38. Reprinted in Exchange Rate Economics, vol. I, edited by R. MacDonald and M. Taylor, International Library of Critical Writings in Economics, Edward Elgar Publishing, U.K, 1992.

“Short-term and Long-term Expectations of the Yen/Dollar Exchange Rate: Evidence from Survey Data,” with J. Frankel, Journal of the Japanese and International Economies 1 (September 1987): 249-274. (Revised from NBER Working Paper no. 2216, April 1987.)

“The Dollar as an Irrational Speculative Bubble: A Tale of Fundamentalists and Chartists,” with J. Frankel, Marcus Wallenberg Papers in International Finance 1 (1986): 27-55. (Revised from NBER Working Paper no. 1854, March 1986.)

Books:

The Financing of Catastrophe Risk, edited by K. Froot, Chicago and London: University of Chicago Press, July 1999.

The Global Financial System: A Functional Perspective, with D. Crane, S. Mason, A. Perold, R. Merton, Z. Bodie, E. Sirri, and P. Tufano, Boston: Harvard Business School Press, 1995.

The Transition in Eastern Europe, edited by O. Blanchard, K. Froot and J. Sachs, Chicago and London: University of Chicago Press, Volume 2, 1994.

The Transition in Eastern Europe, edited by O. Blanchard, K. Froot and J. Sachs, Chicago and London: University of Chicago Press, Volume 1, 1993.

Foreign Direct Investment, edited by K. Froot, Chicago: University of Chicago Press, 1993.

Market-Based Debt Reduction for Developing Countries: Principles and Prospects, with S. Claessens, I. Diwan, P. Krugman, Washington, D.C.: World Bank, 1991.

Articles in Books and Non-Academic Journals:

“Bank Capital and Risk Management: Issues for Banks and Regulators,” International Financial Risk Institute, Research Paper No 8, April 2001.

“The Limited Financing of Catastrophe Risk: An Overview,” in The Financing of Catastrophe Risk, edited by K. Froot, Chicago and London: University of Chicago Press, 1999, 1-22. (Revised from NBER Working Paper no. 6025, May 1997 and Harvard Business School Working Paper no. 98-023, September 1997.)

“The Pricing of US Catastrophe Reinsurance,” with P. O’Connell, in The Financing of Catastrophe Risk, edited by K. Froot, Chicago and London: University of Chicago Press, 1999, 195-232. (Revised from NBER Working Paper no. 6043, May 1997 and Harvard Business School Working Paper no. 98-018, September 1997.)

“The Emerging Asset Class: Insurance Risk,” with B. Murphy, A. Stern, and S. Usher, in The Marsh & McLennan Companies Quarterly Viewpoint XXIV, 3, Summer 1995, 19-28. (Was originally Special Report from Guy Carpenter and Company, Inc., July 1995), reprinted with permission © Guy Carpenter & Company, Inc.

“Perspectives on PPP and Long-Run Real Exchange Rates,” with K. Rogoff, in Handbook of International Economics, Volume 3, Elsevier Science Publishers, B.V., North Holland Press, 1995, Chapter 32, 1647-1688. (Revised from Harvard Business School Working Paper no. 95-038.)

“Incentive Problems in Financial Contracting: Impacts on Corporate Financing, Investment, and Risk Management Policies,” in The Global Financial System: A Functional Perspective, edited by K. Froot, D. Crane, S. Mason, A. Perold, R. Merton, Z. Bodie, E. Sirri and P. Tufano, Boston: Harvard Business School Press, 1995, Chapter 7, 225-261. (Revised from Harvard Business School Working Paper no. 95-020.)

“Interest Allocation Rules, Financing Patterns, and the Operations of US Multinationals,” in The Effects of International Taxation on Multinational Corporations, edited by M. Feldstein, J. Hines and G. Hubbard, Chicago and London: University of Chicago Press, 1995, 277-307. Featured in The NBER Digest, November 1994. (Revised from NBER Working Paper no. 4924.)

“The Tax Treatment of Interest and the Operations of U.S. Multinationals,” with J. Hines, in Taxing Multinational Corporations, edited by M. Feldstein, J. Hines and G. Hubbard, Chicago and London: University of Chicago Press, 1995, 81-93.

“Securities Transaction Taxes: What about International Experiences and Migrating Markets?,” with J. Campbell, in Transaction Taxes: False Hopes and Unintended Consequences, Chicago: Irwin Professional Publishing, 1994. Reprinted in Inversión y Finanzas, 1996.

“A Framework for Risk Management,” with D. Scharfstein and J. Stein, Harvard Business Review 72, (November-December 1994): 59-71. Reprinted in Journal of Applied Corporate Finance 7, Fall 1994, 22-32. Reprinted in Marsh & McLennan Companies' ViewPoint 24, Spring 1995, 21-37. Also reprinted in Corporate Risk: Strategies and Management, edited by G. Brown and D. Chew, London: Risk Books, December 1999. (Revised from “Developing a Risk Management Strategy,” Harvard Business School Working Paper no. 95-021.)

“International Experiences with Securities Transaction Taxes,” with J. Campbell, in The Internationalization of Equity Markets, edited by J. Frankel, Chicago and London: University of Chicago Press, 1994, 277-308. Featured in The NBER Digest, May 1994. (Revised from NBER Working Paper no. 4587, December 1993.)

“On the Speculative Efficiency of the Foreign Exchange Market,” Cuadernos Economicos de ICE, March 1993, 7-30.

“Foreign Direct Investment in Eastern Europe: Some Economic Considerations,” in The Transition in Eastern Europe, Volume 2 Restructuring, edited by O. Blanchard, K. Froot, and J. Sachs, Chicago and London: University of Chicago Press, 1994, 293-318.

“Introduction and Overview: The Transition Economies of Eastern Europe” with O. Blanchard and J. Sachs, in The Transition in Eastern Europe, edited by O. Blanchard, K. Froot, and J. Sachs, Chicago and London: University of Chicago Press, 1994, 1-18.

“Trading Blocs and the Incentive to Protect: Implications for Japan and East Asia,” with D. Yoffie, in Regionalism and Rivalry: Japan and the U.S. in Pacific Asia, edited by J. Frankel and M. Kahler, Chicago and London: University of Chicago Press, A National Bureau of Economic Research Project Report, 1993, 125-156.

“U.S.-Japan Trade Today,” in U.S.-Japan Economic Forum, edited by M. Feldstein and Y. Kosai, National Bureau of Economic Research and Japan Center for Economic Research, 2, 1992.

“Strategic Trade Policies in a Tripolar World,” with D. Yoffie, The International Spectator XXVI, No. 3 (July-September 1991): 3-28. Reprinted in The Political Economy of International Cooperation, NIRA Research Output, Vol. 5, No. 1 (1992).

“Shareholder Trading Practices and Corporate Investment Horizons,” with A. Perold and J. Stein, Journal of Applied Corporate Finance 5, no. 2 (Summer 1992): 42-58.

“The EMS, the EMU, and the Transition to a Common Currency,” with K. Rogoff, in Macroeconomics Annual 1991, edited by O. Blanchard and S. Fischer, Cambridge, MA: MIT Press, 1992, 269-327. (Revised from NBER Working Paper no. 3684, January 1992.)

“U.S.-Japan Trade Developments,” in Kinyu Journal, (part I) 9, 1991, 55-61, (part II) 10, 1991, 45-49.

“Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market,” with J. Frankel, in International Business Reader, edited by D. Duta, London: Oxford University Press, 1992. (Revised from IMF Working Paper no. 90/43.) NBER Working Paper no. 3470, October 1990.

“Japanese Foreign Direct Investment,” in U.S.-Japan Economic Forum, Vol. 1, edited by M. Feldstein and Y. Kosai, National Bureau of Economic Research and Japan Center for Economic Research, 1991. (Revised from NBER Working Paper no. 3737, June 1991.)

“New Trading Practices and the Short-Run Predictability of the S&P500,” with J. Gammill and A. Perold, in Market Volatility and Investor Confidence, Report to the Board of Directors of the New York Stock Exchange, June 1990.

“Multinational Corporations, Exchange Rates, and Direct Investment,” in International Policy Coordination and Exchange Rate Fluctuations, edited by W. Branson, J. Frenkel and M. Goldstein, Chicago and London: University of Chicago Press, 1990, 307-346.

“Chartists, Fundamentalists, and the Demand for Dollars,” with J. Frankel, in Private Behavior and Government Policy in Interdependent Economies, edited by A. Courakis and M. Taylor, Oxford: Clarendon Press, 1990, 73-128. Reprinted in Greek Economic Review 10 (June 1988): 49-102. Translated into “Chartistas, fundamentalistas y la demanda de dólares,” in Cuadernos Economicos de ICE, 1988 (Número 38), 195-242.

“Adjustment of the U.S. and Japanese External Imbalances,” in Fourth Economic Planning Agency International Symposium, edited by M. Yoshitomi, Economic Planning Agency of Japan, December 1988, 287-304.

“Explaining the Demand for Dollars: International Rates of Return, and the Expectations of Chartists and Fundamentalists,” with J. Frankel, in Macroeconomics, Agriculture, and the Exchange Rate, edited by R. Chambers and P. Paarlberg, Boulder: Westview Press, 1988, 25-88.

Book Reviews and Miscellaneous Publications:

“Testimony of Kenneth A. Froot Before the US Senate Committee on Banking, Housing, and Urban Affairs,” Terrorist Risk Insurance, Congressional Register, October 24, 25, 2001, US Government Printing Office, 81-86.

“Comment on: Regional Patterns in the Law of One Price,” in The Regionalization of the World Economy, edited by J. Frankel, Chicago and London: University of Chicago Press, A National Bureau of Economic Research Project Report, 1998, 184-186.

“Comment on: The Effects of Outbound Foreign Direct Investment on the Domestic Capital Stock,” in International Corporate Taxation, edited by J. Hines, University of Chicago Press, 1996.

“Comment on: Economic Crises: Necessary for Trade Liberalization and Fiscal Reform?,” in Stabilization, Economic Reform and Growth, edited by R. Dornbusch and S. Edwards, Chicago: University of Chicago Press, 1994, 73-75.

“Comment on: Exchange Rates and Corporate Strategic Management,” in Y. Amihud and R. Levich, Exchange Rates and Corporate Performance, New York University Salomon Center, New York: Irwin, 1994, 253-256.

“Roundtable on U.S. Risk Capital and Innovation (With a Look at Eastern Europe),” with G. Baty, W. Bygrave, D. Chew, et al., Journal of Applied Corporate Finance 4, no. 4 (Winter 1992): 48-78.

“Comment on: The Impact of the Tax Reform Act of 1986 on Foreign Direct Investment to and from the United States” in Do Taxes Matter?: The Impact of the Tax Reform Act of 1986, edited by J. Slemrod, Cambridge, MA: MIT Press, 1990, 198-200.

“Asset Price Expectations: A Summary,” NBER Reporter, Spring 1989.

“Do the Secondary Markets Believe in Life After Debt?: A Comment on Hajivassiliou,” in Dealing with the Debt Crisis, edited by I. Husain and I. Diwan, Washington, D.C.: World Bank, 1989, 293.

“Labor Market Distortions as a Case for Export Subsidies: Comment on Katz and Summers,” in Trade Policies for International Competitiveness, edited by R. Feenstra, Chicago: University of Chicago Press, 1989, 117-120.

Rapporteur for International Economic Cooperation, edited by M. Feldstein, Chicago: University of Chicago Press, 1988, and associated Conference Summary Report, National Bureau of Economic Research, December 1987.

“How Open is the U.S. Economy?: A Review,” edited by R. W. Hafer, Journal of International Economics 23 (1987): 389-391.

Unpublished Papers:

“Capital and Value of Risk Transfer,” with G. Venter and J. Major, presented at Actuarial Approach for Financial Risks (AFIR) Colloquium, Boston, MA, November 2004.

“The Risk Tolerance of International Investors,” with P. O’Connell, NBER working paper no. 10157, Harvard Business School Working Paper no. 04-034, December 2003.

“Equity Style Returns and Institutional Investor Flows,” with M. Teo, Harvard Business School Working Paper no. 04-048, June 2004.

“Determinants of Optimal Currency Hedging,” with A. Perold, Harvard Business School Working Paper no. 97-011, 1996.

“The Law of One Price Over 700 Years,” with M. Kim and K. Rogoff, Harvard Business School Working Paper no. 95-086, May 1995, NBER Working Paper no. 5132, May 1995.

“Interest Allocation Rules and the Changing Cost of Debt Finance,” with J. Hines, Harvard University, March 1994.

“Losing Interest: Interest Allocation Rules and the Cost of Debt Finance,” with J. Hines, Harvard University, January 1994.

“Currency Hedging Over Long Horizons,” Harvard University, April 1993. NBER Working Paper no. 4355, May 1993. Featured in The NBER Digest, October 1993.

“Government Consumption and the Real Exchange Rate: The Empirical Evidence,” with K. Rogoff, Harvard University, 1992.

“Short Rates and Expected Asset Returns,” NBER Working Paper no. 3247, May 1990.

“Tests of Excess Forecast Volatility in the Foreign Exchange and Stock Markets,” NBER Working Paper no. 2362, 1987.

“Capital Flight, Policy Credibility, and the Option Value of Foreign Exchange,” with S. van Wijnbergen, Massachusetts Institute of Technology, May 1986.

“Currency Values in a Continuous Time Capital Asset Pricing Model Driven by Asset Supplies,” Massachusetts Institute of Technology, September 1986.

Cases and Notes:

“Measuring Investment Performance,” case no. 208-110, Harvard Business School, Boston, 2008.

“Nephila: Innovation in Catastrophe Risk Reinsurance,” case no. 206-130, Harvard Business School, Boston, 2006.

“Geeli,” case no. 206-105, Harvard Business School, Boston, 2006.

“Teaching Note to Geeli,” no. 206-106, Harvard Business School, Boston, 2006.

“Geeli,” spreadsheet supplement 206-710, Harvard Business School, Boston, 2006.

“UAL, 2004: Pulling Out of Bankruptcy,” case no. 205-090, Harvard Business School, Boston, 2005.

“UAL, 2004: Pulling Out of Bankruptcy,” spreadsheet supplement 205-709, Harvard Business School, Boston, 2005.

“Pacific Salmon Company, Inc,” case no.