Gino Cenedese
Welcome to my personal website. I am a Senior Economist at Fulcrum Asset Management. I was previously at the Bank of England. My research interests are in the areas of international finance, empirical asset pricing, asset management, and applied econometrics. Here you can find links to my research papers.
gino.cenedese 'at' fulcrumasset.com
Publications
"Currency Mispricing and Dealer Balance Sheets," (2021) with Pasquale Della Corte and Tianyu Wang. Journal of Finance 76 (6), 2763‒2803.
Accepted for presentation at: Western Finance Association Meetings 2018; European Finance Association Meetings 2017; Finance Down Under 2018; BIS Symposium 2017; Frontiers of Finance 2017; York Asset Pricing Workshop 2017; FX Workshop 2016.
Recipient of the INQUIRE Europe grant and the Montreal Institute of Structured Finance and Derivatives (IFSID) grant.
Non-technical summary available on VoxEU and Bank of England's Bank Underground.
"Unconventional Monetary Policy and the Behaviour of International Mutual Funds," (2021) with Ilaf Elard, Journal of International Money and Finance 115, 102357.
"OTC Premia" (2020), with Angelo Ranaldo and Michalis Vasios. Journal of Financial Economics 136 (1), 86‒105 (Open Access).
Accepted for presentation at: Western Finance Association Meetings 2018, Bocconi-ESMA-CONSOB Conference 2018; Atlanta Fed Conference on Financial Regulation; 2018 Central Bank Conference on the Microstructure of Financial Markets.
Recipient of the Canadian Derivatives Institute grant.
"What Do Stock Markets Tell Us About Exchange Rates?" (2016), with Richard Payne, Lucio Sarno, and Giorgio Valente. Review of Finance 20, 1045‒1080. VoxEU article based on the paper. Press coverage by Reuters. Selected for re-publication on RoF special issue on Politics and International Finance. Read the RoF digest here.
"What Moves International Stock and Bond Markets?" (2016), with Enrico Mallucci. Journal of International Money and Finance 60, 94‒113. Working Paper Version.
"Foreign Exchange Risk and the Predictability of Carry Trade Returns" (2014), with Lucio Sarno and Ilias Tsiakas, Journal of Banking & Finance 42, 302‒313. Working Paper. Internet Appendix. Winner of the Best Paper Award at the Spring Doctoral Conference, Judge Business School, University of Cambridge, April 2010.
"Currency Fair Value Models," with Thomas Stolper, in James, J., Marsh, I.W., and Sarno, L. (eds.), Handbook of Exchange Rates, Wiley Series in Financial Engineering, John Wiley and Sons, 2012, Ch. 11, pp. 313–342.
Non-academic:
"Drivers of FX Forward Market Dislocations: Capital Controls and Financial Market Stress", with Thomas Stolper, in The Foreign Exchange Market 2011, Goldman Sachs Global Economics Research.
Working Papers
"US Interest Rate Surprises and Currency Returns" (2023), with Juan Antolin-Diaz, Shangqi Han, and Lucio Sarno.
"Carbon Transition Risk and Net-Zero Portfolios" (2023) with Shangqi Han and Marcin Kacperczyk.
"Safe Haven Currencies: a Portfolio Perspective" (2015), Bank of England Staff Working Paper No. 533 (peer reviewed). Permanent working paper.
Conference Organisation
London Empirical Asset Pricing Workshop, 2018; 2020.
13th Annual Central Bank Conference on the Financial Microstructure of Financial Markets, 05-06 October 2017.
6th Workshop on Financial Determinants of Exchange Rates, London, 15-16 December 2016.
Education
PhD in Finance, Warwick Business School, University of Warwick, United Kingdom, 2011
MSc in Economics and Finance, University Ca’ Foscari of Venice, Italy, 2007.
Laurea Specialistica (MA) in Economics, University Ca’ Foscari of Venice, Italy, 2006.
Laurea Triennale (BSc) in Economics and Complex Systems, University Ca’ Foscari of Venice, Italy, 2004.
Past Positions
2011-2018: Senior Economist, Bank of England.
Summer 2010: Summer Associate, Goldman Sachs, Global Markets Research (FX team), London.