-
首页
-
- 首页
- WORKSHOP预告
国际经济学workshop: Exchange Rates, Natural Rates, and the Price of Risk
发布日期：2024-05-07 12:00 来源：
主讲人：Rohan Kekre（Chicago Booth and NBER）
主持人：余昌华（北京大学国家发展研究院）
时间：2024年5月7日（周二）上午9:00-10:30（北京时间）
地点：线上会议
Zoom会议号：926 3889 7210
密码：908060
摘要：
We study the source of exchange rate fluctuations using a general equilibrium model accommodating shocks in goods and financial markets. These shocks differ in their induced comovements between exchange rates, interest rates, and quantities. A calibration matching data from the U.S. and G10 currency countries implies that persistent shocks to relative demand and thus interest rate differentials account for 80% of the volatility in the dollar/G10 exchange rate. Shocks to currency intermediation are important, however, in generating deviations from uncovered interest parity at high frequencies and explaining the dollar appreciation in crises.
主讲人介绍：
Rohan Kekre is an Associate Professor of Economics at Booth School of Business, University of Chicago. Prof. Kekre obtained his PhD degree from Harvard University in 2016. He studies business cycles and stabilization policy in closed and open economies and his current research focuses on macro-financial interactions in this context. Prof. Kekre has published papers at very top journals including Review of Economic Studies, Econometrica, American Economic Review, American Economic Journal: Macroeconomics.
国家发展研究院官方微信
Copyright© 1994-2012 北京大学 国家发展研究院 版权所有, 京ICP备05065075号-1
保留所有权利，不经允许请勿挪用
-
首页
-
国际经济学workshop: Exchange Rates, Natural Rates, and the Price of Risk
发布日期：2024-05-07 12:00 来源：
主讲人：Rohan Kekre（Chicago Booth and NBER）
主持人：余昌华（北京大学国家发展研究院）
时间：2024年5月7日（周二）上午9:00-10:30（北京时间）
地点：线上会议
Zoom会议号：926 3889 7210
密码：908060
摘要：
We study the source of exchange rate fluctuations using a general equilibrium model accommodating shocks in goods and financial markets. These shocks differ in their induced comovements between exchange rates, interest rates, and quantities. A calibration matching data from the U.S. and G10 currency countries implies that persistent shocks to relative demand and thus interest rate differentials account for 80% of the volatility in the dollar/G10 exchange rate. Shocks to currency intermediation are important, however, in generating deviations from uncovered interest parity at high frequencies and explaining the dollar appreciation in crises.
主讲人介绍：
Rohan Kekre is an Associate Professor of Economics at Booth School of Business, University of Chicago. Prof. Kekre obtained his PhD degree from Harvard University in 2016. He studies business cycles and stabilization policy in closed and open economies and his current research focuses on macro-financial interactions in this context. Prof. Kekre has published papers at very top journals including Review of Economic Studies, Econometrica, American Economic Review, American Economic Journal: Macroeconomics.
访问学者申请
EMAIL
北京大学
ENGLISH
