{"id":2021,"date":"2023-04-21T14:34:46","date_gmt":"2023-04-21T12:34:46","guid":{"rendered":"https:\/\/www.uni.lu\/fdef-fr\/events\/df-lunch-seminar-what-do-financial-markets-say-about-the-exchange-rate\/"},"modified":"2023-04-21T14:34:46","modified_gmt":"2023-04-21T12:34:46","slug":"df-lunch-seminar-what-do-financial-markets-say-about-the-exchange-rate","status":"publish","type":"events","link":"https:\/\/www.uni.lu\/fdef-fr\/events\/df-lunch-seminar-what-do-financial-markets-say-about-the-exchange-rate\/","title":{"rendered":"DF Lunch Seminar : What do financial markets say about the exchange rate?"},"content":{"rendered":"<section class=\"wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\"><p>Abstract:\u00a0<\/p><p>What do financial markets say about the exchange rate?<\/p><p>Not very much. We study a broad set of international financial market structures disciplined by the absence of arbitrage opportunities. In circumstances when financial markets are informative about the exchange rate, the constraints they impose on its behavior yield counterfactual implications. In contrast, financial market structures that are consistent with observed empirical properties of the exchange rate impose few constraints on its equilibrium behavior. Hence, financial markets contain nearly no information about the exchange rate resulting in financial exchange rate disconnect. Models of intermediary pricing of the exchange rate are consistent with its empirical properties, including the financial disconnect.<\/p><p><i>This event is Supported by the Luxembourg National Research Fund (2022\/17573036)<\/i><\/p><figure class=\"wp-block-dev4-reusable-blocks-image  object-fit--contain\">\n    \n<img decoding=\"async\" class=\"wp-block-image unilux-custom-image-block\"\n                alt=\"\"\n            src=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/18\/2024\/01\/quadri_gris_transparent_72ppi_1024x207_medium.jpg\"\n                srcset=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/18\/2024\/01\/quadri_gris_transparent_72ppi_1024x207_medium-300x225.jpg 300w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/18\/2024\/01\/quadri_gris_transparent_72ppi_1024x207_medium-768x576.jpg 768w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/18\/2024\/01\/quadri_gris_transparent_72ppi_1024x207_medium.jpg 800w\"\n                style=\"object-position: 50.00% 50.00%; font-family: &quot;object-fit: contain; object-position: 50.00% 50.00%;&quot;; aspect-ratio: 4\/3; object-fit: contain; width: 100%;\"\n        loading=\"lazy\"\n\/>    <\/figure><p><\/p><p>Please<a href=\"https:\/\/www.eventbrite.fr\/e\/df-lunch-seminar-prof-mikhail-chernov-ucla-registration-621512680157\" target=\"_blank\" title=\"\" rel=\"noopener\">\u00a0<\/a>\u00a0to attend the event .\u00a0<a href=\"https:\/\/www.eventbrite.fr\/e\/df-lunch-seminar-prof-mikhail-chernov-ucla-registration-621512680157\" target=\"_blank\" title=\"\" rel=\"noopener\">Register Here<\/a><\/p><\/div><\/section>","protected":false},"excerpt":{"rendered":"","protected":false},"author":0,"featured_media":2022,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"featured_image_focal_point":[],"show_featured_caption":false,"ulux_newsletter_groups":"","uluxPostTitle":"","uluxPrePostTitle":"","_trash_the_other_posts":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"event_start_date":"2023-05-11 12:15:00","event_end_date":"2023-05-11 13:30:00","event_speaker_name":"Prof. Mikhail Chernov, UCLA","event_speaker_link":"","event_is_online":false,"event_location":"Room Nancy\/Metz","event_street":"","event_location_link":"","event_zip_code":"","event_city":"","event_country":"LU"},"events-topic":[301],"events-type":[],"organisation":[115],"authorship":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DF Lunch Seminar : What do financial markets say about the exchange rate? - FDEF I Uni.lu<\/title>\n<meta name=\"description\" content=\"Abstract:\u00a0What do financial markets say about the exchange rate?Not very much. We study a broad set of international financial market structures\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.uni.lu\/fdef-fr\/events\/df-lunch-seminar-what-do-financial-markets-say-about-the-exchange-rate\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DF Lunch Seminar : What do financial markets say about the exchange rate?\" \/>\n<meta property=\"og:description\" content=\"Abstract:\u00a0What do financial markets say about the exchange rate?Not very much. We study a broad set of international financial market structures\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.uni.lu\/fdef-fr\/events\/df-lunch-seminar-what-do-financial-markets-say-about-the-exchange-rate\/\" \/>\n<meta property=\"og:site_name\" content=\"FDEF FR\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/uni.FDEF.lu\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/18\/2026\/03\/03111953\/FDEF_SM-Profile_1600x1600px-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"2560\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.uni.lu\/fdef-fr\/events\/df-lunch-seminar-what-do-financial-markets-say-about-the-exchange-rate\/\",\"url\":\"https:\/\/www.uni.lu\/fdef-fr\/events\/df-lunch-seminar-what-do-financial-markets-say-about-the-exchange-rate\/\",\"name\":\"DF Lunch Seminar : What do financial markets say about the exchange rate? - FDEF I Uni.lu\",\"isPartOf\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-fr\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-fr\/events\/df-lunch-seminar-what-do-financial-markets-say-about-the-exchange-rate\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-fr\/events\/df-lunch-seminar-what-do-financial-markets-say-about-the-exchange-rate\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/18\/2023\/04\/df_lunch_seminar_what_do_financial_markets_say_about_the_exchange_rate.jpg\",\"datePublished\":\"2023-04-21T12:34:46+00:00\",\"dateModified\":\"2023-04-21T12:34:46+00:00\",\"description\":\"Abstract:\u00a0What do financial markets say about the exchange rate?Not very much. 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