Program

June 2

15.00-15.30  Registration

15.30-16.00  Welcome & Intro of International Finance Society

16.00-17.00  Keynote: Andreas Schrimpf, Head of Financial Markets, Bank for International Settlements

17.00-18.00  Practitioner Panel Discussion​

Moderator: Giorgio Valente, Head of Hong Kong Institute for Monetary and Financial Research

• Timothy Moe, Global Co-Head of Macro Research and Chief Asia Pacific Equity Strategist, Goldman Sachs

• Philip Wooldridge, Head of Economics and Financial Markets for Asia and the Pacific, Bank for International Settlements

• Jing Liu, Chief Economist for Greater China, HSBC 

18.00-19.30  Aperitif & PhD Student Poster Presentation

 PhD Mentor: Dora Xia, BIS

• Males Alkshaik, St Andrews

• Christine Zhuowei Huang, UT Dallas

• Jean-Guillaume Magré, Oxford

• Matteo Pantalfini , HKU

• Haoran Wang, HKU

• Jiarui Wang, Imperial College

• Fenglin Wu , SAIF Shangai

• Yueting Jiang, CUHK

• Peidi Chen, HKU

• Giuliano Graziani, Bocconi

June 3

8.30-9.00  Coffee

9.00-10.00  Keynote: Adrien Verdelhan, Stephens Naphtal Professor of Finance, Massachusetts Institute of Technology

10.00-10.30  Coffee

10.30-12.10  Session 1: FX Hedging

Chair: Tao Shu, CUHK

• ​​​​​​Managing Emerging Market Currency Risk
  Nanyu Chen, Haonan Zhou
  Discussant: Hugh Kim

• ​On the Use of Currency Forwards: Evidence from International Equity Mutual Funds
  Wei Opie, Steven Riddiough​
  Seminar style

​​12.10-12.30  Lunch

​​13.30-15.10. Session 2: Macro

Chair: Pasquale Della Corte 

• ​The Anatomy of a Peg: Lessons from China's Parallel Currencies
  Saleem Bahaj, Ricardo Reis
  Discussant: Xiang Fang

• International Climate News
  Maria Arteaga-Garavito, Riccardo Colacito, Mariano Croce, Biao Yang
  Discussant: Alminas Zaldokas

15.10 - 15.40. Coffee

15.40 - 16.30  Early Career Session

Chair: Chanik Jo

• ​Bond Demand and the Yield-Exchange Rate
  Dongchen Zou
  Discussant: Haonan Zhou

16:30 - 17:00  Coffee

​17:00 - 18:00  Rapid Fire Session 1

Chair: Paul Schneider

• ​Financially Constrained Intermediaries and the International Pass-Through of Monetary Policy
  Xiaoliang Wang, Mengbo Zhang​​​

• ​An Impossible Unity? The Effects of International Monetary Policy on Chinese Treasury Yields
  Wei Li, Zehao Li, Shuojun Peng

• ​A Conditional Factor Model for Currency Option Returns
  Ilias Filippou, Zhe Wang, Xu Qi, Guofu Zhou

• ​​​​Real Exchange Rate Puzzles and Inter-Cohort Heterogeneity
  Thomas Maurer, Shixiang Xia

18:00 - 18:15  Announcements

18:15  Dinner at Pondside (Hong Kong Park)

June 4

9.00-9.30  Coffee

9.30-12.10  Session 3: Exchange Rate Models

Chair: Keling Zheng

• Twin Stars: Neutral Rates and Currency Risk Premia
  Bruno Feunou, Jean-Sébastien Fontaine, Ingomar Krohn
  Discussant: Julian Penasse

• ​Exchange Rate Models are Better than You Think, and Why They Didn't Work in the Old Days
  Charles Engel, Steve Pak Yeung Wu
  Discussant: Federico Gavazzoni

​10-minute break

• ​Long-Run UIP and Sovereign Risk
  Alessandro Rebucci, Sinem Yagmur Toraman, Giorgio Valente
  Discussant: Shaojun Zhang

12.10-14.00  Lunch

14.00-15.40  Session 4: Political Uncertainty

Chair: Shiyang Huang

• Political Uncertainty and Currency Markets
  Markus Leippold, Felix Matthys, Philippe Mueller, Michal Svaton
  Discussant: Mathieu Fournier

• (Un)Expected Political Outcomes and Currency Markets
  Ilias Filippou, Jiangyuan Li, Xujun Liu
  Discussant: Karamfil Todorov

​15.40-16.00  Coffee

​16.00-16.45  Rapid Fire Session 2

Chair: TC Lin

• ​Monetary Policy Predicts Currency Movements
  Söhnke Bartram, Mark Grinblatt, Yan Xu​​

• ​​​​​Rebalancing of Currency Hedging and the Impact on Exchange Rates
  Elizaveta Sizova, Olav Syrstad, Ingebjørg Hansen Sævareid

​16.45-17.00  Closing Remarks & Best Paper Award

​​​17.15  Dinner

FX Lecture Series

As part of the International Finance Society's mission we are holding an FX lecture series after the inaugural conference on June 5th.

We are thankful to Adrien Verdelhan, Pasquale Della Corte and Saleem Bahaj for volunteering to give these lectures. While the lectures are designed for PhD students, anyone is welcome. 

Venue: KK Leung, HKU, Hong Kong

Schedule

​​9.30-10.00  Coffee

10.00-12.00  Lecture 1 - Adrien Verdelhan: FX Returns With and Without Risk

​12.00-13.30  Lunch

13.30-15.30 Lecture 2 - Saleem Bahaj: Currency Choice in Trade and Trade Finance

​15.30-16.00  Break

​16.00-18.00  Lecture 3 - Pasquale Della Corte: FX Options