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BEGIN:VEVENT
UID:656ff9234251f2cec3449c709e6a66e3
CATEGORIES:Seminars
CREATED:20190502T151239
SUMMARY:Lunch Seminar: Jesse Schreger - Columbia University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p><strong><span style="font-size: 11pt; font-family: 'Calibri','sans-serif
 ';">Exchange Rate Reconnect: Capital Flows and Currency Dynamics</span></st
 rong><span style="font-size: 11pt; font-family: 'Calibri','sans-serif';"> j
 oint with Andrew Lilley, Matteo Maggiori and Brent Neiman</span></p><p><spa
 n style="font-size: 11pt; font-family: 'Calibri','sans-serif';">Abstract: <
 /span></p><p style="text-align: justify;"><span><span style="font-size: 11p
 t; font-family: 'Calibri','sans-serif';">We demonstrate that exchange rates
  comove strongly with global capital flows since the Global Financial Crisi
 s. This connection between exchange rates and global capital flows offers a
  partial resolution to the “exchange rate disconnect puzzle.” We find that 
 the broad dollar exchange rate tends to depreciate by 0.55% for every 1% US
  net purchase of foreign securities. These US portfolio outflows account fo
 r roughly 30% of the variation in the broad dollar in the post-crisis perio
 d. Using a novel micro-dataset of global capital flows, we examine the chan
 nels through which exchange rates and capital flows have become reconnected
 .</span></span></p><p> </p>
DTSTAMP:20260404T231346Z
DTSTART:20190614T130000Z
DTEND:20190614T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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