傳統市場理論認為，貨幣滙率是反映經濟強弱的晴雨表。不過，香港大學經管學院金融學助理教授劉洋的研究發現，滙率浮動與經濟狀況和通貨膨脹等相關性很低，反之與金融市場的流動性，以及政府施行政策是否穩定有更大關係。 流動性與政策更具影響力 劉洋接受訪問時指出，其研究發現滙率是隨機遊走
Academic & Professional Qualification
- Ph.D., University of Pennsylvania
- B.A., Fudan University
Dr. Yang Liu joined The University of Hong Kong as Assistant Professor of Finance in 2017. He received his Ph.D. in Economics from University of Pennsylvania, and his B.A. in Economics from Fudan University.
His research interests span asset pricing, macro-finance and international finance. He has won the 2018 Annual Conference in International Finance Best Paper Award and the Cubist Systematic Strategies PHD Candidate Award for Outstanding Research by Western Finance Association. He has been a visiting scholar at the International Monetary Fund and the World Bank, and was a research associate at the Federal Reserve Bank of Philadelphia.
- Asset Pricing
- International Finance
- “Volatility, Intermediaries, and Exchange Rate”
(with Xiang Fang), Journal of Financial Economics, forthcoming
- “Government Policy Approval and Exchange Rate”
(with Ivan Shaliastovich), Journal of Financial Economics, forthcoming
- “Volatility Risk Pass-Through”
(with Ricardo Colacito, Mariano M. Croce, and Ivan Shaliastovich), Review of Financial Studies, forthcoming
For details, please visit www.yangliuresearch.com.