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Joint European Central Bank – Banca d'Italia conference

9th workshop on exchange rates

European Central Bank, Main Building

Programme

Thursday, 19 December 2019

8:30
Registration
8:50

Welcome address

Livio Stracca, European Central Bank

 

First session: Transmission of monetary policy to exchange rate

Chair: Alessio Anzuini, Banca d’Italia

09:00

Exchange rate undershooting

Gernot Müller, University of Tübingen, CEPR, and CESifo, joint with Martin Wolf and Thomas Hettig

Discussant: Makram Khalil, Deutsche Bundesbank

09:45

A preferred-habitat model of term premiums and exchange rates

Dimitri Vayanos, London School of Economics, joint with Pierre-Olivier Gourinchas and Walker Ray

Discussant: Luca Dedola, European Central Bank

10:30
Coffee break
 

Second session: Currency risk premia

Chair: Regine Wölfinger, European Central Bank

11:00

A credit-based theory of the currency risk premium

Ella D.S. Patelli, HEC Montréal, joint with Pasquale Della Corte and Alexandre Jeanneret

Discussant: Federico Nucera, Banca d’Italia

11:45

Foreign-currency lending

Manthos Delis, Montpellier Business School, joint with Panagiotis N. Politsidis and Lucio Sarno

Discussant: Egemen Eren, Bank for International Settlement

12:30

Lunch

 

Keynote talk

Chair: Arnaud Mehl, European Central Bank

14:00

The convenience yield channel of monetary policy and the dollar exchange rate

Arvind Krishnamurthy, Stanford University

 

Third session: Foreign exchange trading

Chair: Johannes Gräb, European Central Bank

15:00

FX trading and the exchange rate disconnect puzzle

Martin Evans, Georgetown University

Discussant: Fabrizio Venditti, European Central Bank

15:45
Coffee break
16:15

Heterogeneous information content of global FX trading

Fabricius Somogyi, University of St. Gallen, joint with Angelo Ranaldo

Discussant: Thomas Nitschka, Swiss National Bank

Please note that this programme may be subject to change without notice.

General information

Conference venue

European Central Bank
Main building, Conference room C2.04
Sonnemannstrasse 20
60314 Frankfurt am Main
Germany
Tel.: +49 69 1344 0
Fax.:+49 69 1344 6000

Conference language

English

Transfers

Participants are requested to arrange their own transfers from and to the airport.

Contacts

Arnaud Mehl and Johannes Gräb
International Policy Analysis Division
Tel.: +49 69 1344 5120
Mobile: +49 160 96 96 40 63
E-mail: FXWorkshop2019@ecb.europa.eu