8th workshop on Exchange Rates, Paris December 14th 2018

Banque de France will host the 8th Workshop on “Foreign Exchange Rates”, jointly organized with Banca d’Italia and the European Central Bank. In line with the previous editions, this workshop aims to provide a forum for discussing innovative research on the determinants of foreign exchange rates. Oleg Itskhoki (Princeton University) will give a keynote speech.


There is no registration fee for participation in the workshop. Note, however, that all participants are expected to cover their own travel and accommodation expenses and are requested to register by sending an e-mail with the subject line “registration” to the e-mail address given above by November 30th, 2018. Note that there is limited space for participants, so that your registration is not guaranteed. There will be a lunch on December 14th for all participants and a dinner on December 13th for presenters and discussants.


Organizing committee

Alessio Anzuini (Banca d’Italia), Matthieu Bussière (Banque de France), Fabio Fornari (ECB), Laurent Ferrara (Banque de France) and Francesco Pappadà (Banque de France)


Friday, 14th December


Welcome address


Chair: Francesco Pappadà (Banque de France)

Oil Prices, Exchange Rates and Interest Rates

Lutz Kilian (University of Michigan) and Xiaoqing Zhou (Bank of Canada)

Discussant: Laurent Ferrara (Banque de France)


Uncovered Return Parity: Equity Returns and Currency Returns

Edouard Djeutem (Bank of Canada) and Geoffrey Dunbar (Bank of Canada)

Discussant: Urszula Szczerbowicz (Banque de France)


Coffee break


Chair: Alessio Anzuini (Banca d’Italia)

Global Portfolio Rebalancing and Exchange Rates

Nelson  Camanho  (Queen  Mary  University), Harald Hau (University of Geneva) and Hélène Rey (LBS)

Discussant: Paolo Cavallino (IMF)


Fast Trading and the Virtue of Entropy: Evidence from the Foreign Exchange Market

Giancarlo Corsetti (Cambridge University), Romain Lafarguette (IMF) and Arnaud Mehl (ECB)

Discussant: Giovanni Ricco (University of Warwick, OFCE-Sciences Po)


Lunch break


Policy focus

EQCHANGE: A World Database on Actual and Equilibrium Effective Exchange Rates

Cécile Couharde, Anne-Laure  Delatte, Carl Grekou, Val´erie Mignon and Florian Morvillier (CEPII)


Chair: Laurent Ferrara (Banque de France)

Puzzling Exchange Rate Dynamics and Delayed Portfolio Adjustment

Philippe Bacchetta (University of Lausanne) and Eric Van Wincoop (University of Virginia)

Discussant: Agnès Benassy-Quere (Paris School of Economics)


Optimal Exchange Rate Regime and Firm Dynamics

Masashige Hamano (Waseda University) and Francesco  Pappadà  (Banque  de  France)

Discussant:  Aurélien Eyquem (Université Lumière Lyon 2)


Coffee break


Chair: Matthieu Bussière (Banque de France)

Keynote lecture

Exchange rate disconnect in general equilibrium

Oleg Itskhoki (Princeton University) and Dmitry Mukhin (Princeton University)



Organizers:Alessio  Anzuini  (Banca  d’Italia),  Matthieu  Bussi`ere  (Banque  de  France),  Laurent  Ferrara  (Banque  de France), Fabio Fornari (European Central Bank), Francesco Pappad`a (Banque de France).

Updated on: 12/27/2018 16:58