| Prof. dr. C. Kool |
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Leerstoel Financiering en Financiële Markten, leerstoelhouder
Lid van het Tjalling C. Koopmans Onderzoeksinstituut
Chair Of Finance and Financial Markets, Chair holder
Tjalling C. Koopmans Research Institute |
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Voornaam
Name |
Clemens |
Werkadres
Address |
Kriekenpitplein 21-22
3584 EC Utrecht |
Post adres
Postal address |
Po Box 80125
3508 TC Utrecht |
Kamernummer
Room number |
1.16 |
Telefoon
Phone |
030 - 253 9813
030 - 253 9800 |
Fax
Fax |
030 - 253 7373 |
Email
Email |
c.j.m.kool@uu.nl |
Aanwezig
Available |
maandag t/m vrijdag
monday till friday |
Expertise gebied
Expertise area |
Monetary economics and policy
International Financial Markets
Finance and Banking |
Inaugerele rede
Inaugural address |
De wereldwijde kapitaalmarkt: Vriend of vijand? |
Prof. dr. Clemens J.M. Kool is chair holder Finance and Financial Markets and director of the Undergraduate School. Other members of the chair Finance are: Dr. Jaap Bos, Dr. Peter Jan Engelen, and Msc. Ryan Lamoen (Phd-student).
Teaching Experience
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Broad teaching experience both at undergraduate and graduate level using various teaching technologies, including problem based learning, case work, and lectures. |
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At PhD/MPhil level e.g. NAKE courses in “International Financial Economics” (1996-1997) and “Open Macroeconomics” (2001-2002), “International Economics” (2005-2006, 2006-2007); METEOR (Maastricht University) introductory course in “International Economics” (1999-2000 and 2000-2001); TKI (Utrecht University) “Advanced Macroeconomics” and “Multidisciplinary Economics and Business Finance”;
MBA course “International Money and Finance” Indiana Business School (1995). |
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At undergraduate level in recent years at UU among others Money, Financial Markets and Institutions, Monetary Economics, and International Financial Management.
At graduate (master) level Economic and Financial Integration.
Previously, a wide range of courses related to the broad topic of international money and finance at both undergraduate and graduate level. |
Research
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Current Research Interests: International financial markets with special interest in the functioning of international financial markets for stocks, bonds and foreign exchange,which has resulted in papers/publications on exchange rate behaviour, international financial integration and the link between consumption growth and international financial returns. Most work is of an applied econometric nature, using theories both from macroeconomics and finance (intertemporal international C-CAPM). |
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Monetary policy (in particular in relation to the forthcoming European Monetary union) The determination and implementation of monetary policy (especially in a European context) has been a major research topic over the past few years. It has resulted in papers/publications on monetary integration, policy coordination and economic convergence in Europe. Both institutional aspects of the EMS and the transition from EMS to EMU currently take a prominent place in research. |
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Applied econometric: work on distributional characteristics of economic time series, in particular the fat-tailedness of financial returns. Using extreme value theory, new tail-estimators have been developed and used. Secondly, panel estimation methods have become a topic of interest. Third, previous publications on the use of time-varying coefficient methods in economics. |
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Banking and European financial integration: This is a new research program, which focuses on the consequences of European market integration on the structure and performance of European banking markets and products. In particular, attention is paid to market form and structure and their relation to performance. |
Memberships
- European Monetary Forum
Research fellowships
- Research Scholar/ visiting professor, Federal Reserve Bank of St. Louis, 1982, 1984, 1987, 1993, 1999
- Visiting Professor of Business Economics and Public Policy, School of Business, Indiana University, 1995
- Extramural fellow Research School METEOR, Maastricht University, 2003-present
- Honorary professor of Money and Banking, Maastricht University, 2003-present
- NETSPAR, senior research fellow, 2005-present
- Visiting professor, Katholieke Universiteit Leuven, Belgium
Recent Books and contributions to books
- Editorial: Banking and Finance in an Integrating Europe, (with Jaap Bos and Klaas Knot), Journal of Banking and Finance, vol. 30, 2006, pp. 1835-1837.
- What Drives ECB Monetary Policy?, 2006, in W. Mitchell, J. Muysken and T. van Veen (eds): Growth and Cohesion in the European Union: The Impact of Macroeconomic Policy, Edgar Elgar, pp. 74-97.
- The Global Capital Market: Friend or Foe? 2005, in P. de Gijsel and H. Schenk (eds): Multidisciplinary Economics, the Birth of a New Economics Faculty in the Netherlands, Springer, pp. 405-424.
Refereed articles
- Non-linear target adjustment in corporate liquidity management: an endogeneous thresholds approach,(with Allard Bruinshoofd), forthcoming in Applied Economics, 2007
- Accounting for Distress in Bank Mergers, forthcoming in Journal of Banking and Finance, (with J.Bos, M. Kötter, J. Kolari, F. Heid and D. Porath), 2007
- Long Run Real Exchange Rate Determinants: Evidence from Eight New EU Member Sates, 1993-2003, (with B. Candelon, K. Raabe and T. van Veen), forthcoming in Journal of Comparative Economics, 2007
- Risk Return Preferences in the Pension Domain: Are People able to Choose (with M. van Rooij and H. Prast), forthcoming in Journal of Public Economics, 2007
- Financial Stability in European Banking: The Role of Common Factors, Open Economies Review, vol. 17, 2006, pp. 525-540.
- Bank Efficiency: the Role of Bank Strategy and Local Market Conditions (with Jaap Bos), Journal of Banking and Finance, vol. 30, 2006, 1953-1974.
- Inflation Persistence under Semi-Fixed Exchange rate Regimes: the European Evidence 1974-1998, (with Alex Lammertsma), Open Economies Review, vol. 16, nr 1, 2005, 51-76.
- Dutch Corporate Liquidity Management: New evidence on Aggregation (with Allard Bruinshoofd), 2004, Journal of Applied Economics, vol. VII, no.2, November, 195-230.
- The Role of Inflation Differentials in Regional Adjustment: Evidence from the United States (with Ivo Arnold), Kredit und Kapital, vol. 37, nr 1, 2004, pp. 62-85
- A Note on the Expectations Hypothesis at the Founding of the Fed (with Dan Thornton), 2004, Journal of Banking and Finance, vol. 28, December, pp. 3055-3068.
- Country Risk Analysis, (with L. van Efferink and T. van Veen), Financiële en Monetaire Studies, NIBE, vol. 21, nr. 4, 2003
- The Cost of Capital in International Financial Markets: Local or Global (with K.G. Koedijk, P.C. Schotman, and M.A. van Dijk), Journal of International Money and Finance, 2002, vol. 21, no. 6, pp. 905-929.
- The Fat-tailedness of FX Returns (with Ronald Huisman Kees Koedijk, en Franz Palm), De Economist, vol. 150, no. 3, September 2002, pp 299-312.
- Tail Index Estimates in in Small Samples (with Ronald Huisman, Kees Koedijk en Franz Palm), Journal of Business and Economic Statistics, April 2001, 19(2), pp 208-216.
- International Bond Markets and the Introduction of the Euro, Federal Reserve Bank of St. Louis Review, September/October 2000, 82:5, pp. 41-56.
- The Phillips Curve, the Persistence of Inflation, and the Lucas Critique: Evidence from Exchange-Rate Regimes: Comment (with Alex Lammertsma), American Economic Review, March 2000, p. 312-315.
- Real interest Rates and Shifts in Macroeconomic Volatility (with Kees Koedijk and Francois Nissen), Journal of Empirical Finance, vol 5, 1998, 214-261
- Extreme Support for Uncovered Interest Parity (with Ronald Huisman, Kees Koedijk and Francois Nissen), Journal of International Money and Finance, vol 17, 1998, pp. 211-228.
Recent working papers
- An analysis of financial stability indicators in European banking: the role of common factors, TKI Discussion paper 06-12, 2006.
- Firm Size and Monetary Policy Transmission: A theoretical Model on the Role of Capital Investment Expenditures (with Katharina Raabe and Ivo Arnold), TKI Discussion paper 06-14, September 2006
- The Importance of Interest Rate Volatility in Empirical Tests of Uncovered Interest Parity (with Metodij Hadzi-Vaskov), TKI Discussion paper 06-19, October 2006.