Conferences - Seminars

  10:30-12:00 Unil, Extranef building, room 126

We hypothesize that industry exchange traded funds (ETFs) encourage informed trading on underlying firms through facilitating hedging of industry-specific risks. We show that short interest on industry ETFs, reflecting part of the “long-the-stock/short-the-ETF” strategy, positively predicts returns on these ETFs and the percentage of positive earnings announcements of underlying stocks. We also show that hedge ... Read more about "Innovation and informed trading: Evidence from industry ETFs"
By Maureen O'HARA, Cornell University
  12:00-13:00 Extranef building, room 126

Why is the dollar the dominant currency for debt contracts and what are its macroeconomic implications? We develop an international general equilibrium model where firms optimally choose the currency composition of their debt. We show that there always exists a dominant currency debt equilibrium, in which all firms borrow in a single dominant currency. It ... Read more about "Dominant Currency Debt"
By Egemen EREN ( Bank for International Settlements (BIS) )
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By José-luis PEYDRÓ, Universitat Pompeu Fabra
By Erwan QUINTIN, Wisconsin School of Business