Rasmus Fatum

About

Education

Ph.D. in international economics, University of California at Santa Cruz (UCSC), June 2001.

Master's degree in economics, University of Copenhagen, April 1996.

Bachelor's degree in economics, University of Copenhagen, July 1993.

Current and Previous Positions

Advisor, Bank for International Settlements, 2016 – 2018.

Department Chair, Alberta School of Business, University of Alberta, 2013 – 2018.

Professor, Alberta School of Business, University of Alberta, 2012 - present.

Visiting Scholar, Federal Reserve Bank of St. Louis, 2010.

Visiting Scholar, Bank of Japan (Institute for Monetary and Economic Studies), 2007 and 2008.

Associate Professor, Alberta School of Business, University of Alberta, 2006 - 2012

Visiting Associate Professor, Department of Economics, University of Copenhagen, 2005 - 2006.

Assistant Professor, Alberta School of Business, University of Alberta, 2001 - 2006.

Graduate Researcher, European Central Bank (ECB), 1999.

Head of Section, Danish Ministry of Economic Affairs 1996 - 1997.

Research

Areas of Specialization

International economics, international finance

Affiliations

Editorial Board Member of Journal of International Money and Finance (since 2013)

Research Affiliate (since 2015), Research Center for International Economics (RCIE), City University of Hong Kong

Research Affiliate (since 2014) Center for Analytical Finance (CAFIN), University of California Santa Cruz

Research Associate (since 2010), Globalization and Monetary Policy Institute, Federal Reserve Bank of Dallas

Research Associate (since 2006), Economic Policy Research Unit (EPRU), Department of Economics, University of Copenhagen

Research Associate (since 2002), Santa Cruz Center for International Economics (SCCIE), Department of Economics, University of California Santa Cruz

Teaching

Teaching Awards and Nominations

• MBA Teaching Award, 2019
• MacKenzie Undergraduate Teaching Award, 2005

Teaching Experience

• International Business (BUEC542), elective MBA course, University of Alberta School of Business, winter 2008, 2009, 2010, 2011, 2012, 2013, 2015, 2016, 2017, 2018, 2019, 2021, 2022, 2023, 2024.
• Global Business Environment (BUEC646), graduate (MBA) course, University of Alberta, 2017.
• International Business (BUEC342), senior elective course, University of Alberta School of Business, spring 2004, 2005, 2007.
• The International Business Environment (BUEC541), elective MBA course, University of Alberta School of Business, spring 2002, 2004, 2005, 2006, 2007.
• International Monetary Economics (IME), graduate course, University of Copenhagen, fall 2005.International Business (BUEC444), senior elective course, University of Alberta School of Business, spring 2003.
• International Financial Markets (FIN442), senior elective course, University of Alberta School of Business, fall 2001, 2002.
• Introduction to Management Science, upper-division undergraduate course, UCSC, spring 2001.
• International Financial Markets, upper-division undergraduate course, UCSC, spring 2000, 2001.

Reserves and Risk: Evidence from China (co-authored with Takahiro Hattori and Yohei Yamamoto), Journal of International Money and Finance 134, 2023.

Negative Interest Rate Policy and the Influence of Macroeconomic News on Yields (co-authored with Naoko Hara and Yohei Yamamoto), Journal of Money, Credit and Banking DOI 10.1111/jmcb.13006, 2022.

Do Oil Endowment and Productivity Matter for Accumulation of International Reserves? (co-authored with Guozhong Zhu and Wenjie Hui), Journal of International Money and Finance 117, 2021.

Accumulation of Foreign Currency Reserves and Risk-Taking (co-authored with James Yetman), Journal of International Money and Finance 102, 2020.

The Exchange Rate Effects of Macro News after the Global Financial Crisis (co-authored with Yin-Wong Cheung and Yohei Yamamoto), Journal of International Money and Finance 95, 2019.

Beggar Thy Neighbor or Beggar Thy Domestic Firms? Evidence from 2000-2011 Chinese Customs Data (co-authored with Runjuan Liu, Jiadong Tong, and Jiayun Xu). Journal of International Economics 115, 2018.

Is the Renminbi a Safe Haven? (co-authored with Yohei Yamamoto and Guozhong Zhu), Journal of International Money and Finance 79, 2017.

Intra-Safe Haven Currency Behavior During the Global Financial Crisis (co-authored with Yohei Yamamoto) Journal of International Money and Finance 66, 2016.

Foreign Exchange Intervention When Interest Rates Are Zero: Does the Portfolio Balance Channel Matter After All? Journal of International Money and Finance 58, 2015.

Large Versus Small Foreign Exchange Interventions (co-authored with Yohei Yamamoto), Journal of Banking and Finance 43, 2014.

Do Sales of Foreign Exchange Reserves Lead to Currency Appreciation? (co-authored with Kathryn Dominguez and Pavel Vacek), Journal of Money, Credit and Banking 45, 2013.

The Intraday Effects of Central Bank Intervention on Exchange Rate Spreads (co-authored with Jesper Pedersen and Peter N. Sørensen), Journal of International Money and Finance 33, 2013.

Asymmetries and State Dependence: The Impact of Macro Surprises on Intraday Exchange Rates (co-authored with Michael M. Hutchison and Thomas Wu), Journal of the Japanese and International Economies 26 (4), 2012.

Evaluating Foreign Exchange Market Intervention: Self-Selection, Counterfactuals and Average Treatment Effects (co-authored with Michael M. Hutchison), Journal of International Money and Finance 29 (3), 2010.

Real-Time Effects of Central Bank Intervention in the Euro Market (co-authored with Jesper Pedersen), Journal of International Economics 78 (1), 2009.

Monetary Policy News and Exchange Rate Responses: Do Only Surprises Matter? (co-authored with Barry Scholnick), Journal of Banking and Finance 32 (6), 2008.

Daily Effects of Foreign Exchange Intervention: Evidence from Official Bank of Canada Data, Journal of International Money and Finance 27 (3), 2008.

Do Exchange Rates Respond to Day-to-Day Changes in Monetary Policy Expectations When No Monetary Policy Changes Occur (co-authored with Barry Scholnick), Journal of Money, Credit and Banking 38 (6), 2006.

One Monetary Policy and Eighteen Central Bankers: The European Monetary Policy as a Game of Strategic Delegation, Journal of Monetary Economics 53 (4), 2006.

Effectiveness of Official Daily Foreign Exchange Market Intervention Operations in Japan (co-authored with Michael M. Hutchison), NBER Working Paper No. 9648, November 2002, included in NBER Digest, December 2003, and Journal of International Money and Finance 25 (2), 2006.

Foreign Exchange Intervention and Monetary Policy in Japan, 2003-04 (co-authored with Michael M. Hutchison), International Economics and Economic Policy 2 (2-3), 2005.

Is Sterilized Foreign Exchange Intervention Effective After All? An Event Study Approach (co-authored with Michael M. Hutchison), Economic Journal 113 (487), 2003.

Sterilized Foreign Exchange Intervention and the Euro: A Useful Policy Instrument? (co-authored with Michael M. Hutchison), Open Economies Review 13 (4), 2002.

Post-Plaza Intervention in the DEM/USD Exchange Rate, Canadian Journal of Economics 35 (3), 2002.

Is Intervention a Signal of Future Monetary Policy? Evidence from the Federal Funds Futures Market (co-authored with Michael M. Hutchison), Journal of Money, Credit and Banking 31 (1), 1999; reprinted in The International Library of Critical Writings in Financial Economics.

Hitotsubashi University, 2020; Shiga University, 2019, Bank of Japan, 2019; City University of Hong Kong, 2019; Bank of Japan, 2018; Hitotsubashi University 2017; Bank of Japan, 2017; BIS Hong Kong Office, 2017; City University of Hong Kong, 2017; Bank of Japan, 2016; BIS Hong Kong Office, 2016; Southwest Finance Association Meetings, 2016; City University of Hong Kong, 2015; BIS CCA Research Conference, 2015; Southwest Finance Association Meetings, 2015; Bank of Japan, 2014; Financial Engineering and Banking Society Annual Conference, 2013; Southwest Finance Association Meetings, 2013, BIS CCA Research Conference, 2012; Bank of Japan, 2012; Asian Development Bank Institute, 2012; ASSA Meetings 2012; Southwest Finance Association Meetings 2012; Western Economic Association International Annual Conference, 2012; Federal Reserve Bank of Dallas, 2011; University of Copenhagen, 2011; Southwest Finance Association Meetings, 2011; Asian Development Bank Institute, 2010; Bank of Japan, 2010; Western Economic Association International Annual Conference, 2010; Federal Reserve Bank of St. Louis, 2010; Bank of Japan, 2009; Western Economic Association International Annual Conference, 2009; NBER Japan Project Meeting, 2009; Bank of Japan, 2008; Western Economic Association International Annual Conference, 2008; Trinity College Dublin Infinity Conference, 2008; Bank of Japan, 2007; Danmarks Nationalbank, 2007; CEUS Conference on Financial Market Integration in Europe, WHU Otto Beisheim School of Management, 2007; Western Economic Association International Annual Conference, 2007; University of Copenhagen, 2006; University Aix-Marseille Conference on Microstructure of Financial Markets, 2005; University of Copenhagen, 2004; Bank of Japan, 2004; Bank of Canada, 2003; Danmarks Nationalbank, 2003; University of Copenhagen, 2003; Bank of Canada, 2002; NBER Japan Project Meeting, 2002; Hamburg Institute for International Economics (HWWA) Conference on Monetary and Financial Cooperation in East Asia, 2002; University of Milan Conference on EMU Macroeconomic Policies and Institutions, 2001; European Central Bank, 1999.