Coherent transverse instabilities observed in the KEK booster have been studied experimentally and theoretically. The instabilities are induced by interaction of the beam with a ferrite-loaded kicker magnet. Here authors consider the case when the matching resistance of the magnet is removed. A calculation is made of the field induced in the magnet by a bunched beam, the betatron oscillation of which is modulated by the synchrotron oscillation. The beam is regarded as a free string. Numerical results agree quite well with the experiments in regard to the buildup time, the oscillation mode and the time of appearance of the instability during acceleration.