Full set of peer-reviewed publications 

• Debt De-Risking \w J Cutura & G Parise,  Management Science (forthcoming) [pdf] 

• Monetary Policy Expectation Errors \w M Schmeling & S Steffensen,
  Journal of Financial Economics, Vol 146, 2022, p. 841-858 [pdf] 

• Covered Interest Parity Arbitrage \w D Rime & O Syrstad,
  Review of Financial Studies, Vol 35, 2022,  [pdf] 

• Peso problems in the estimation of the C-CAPM \w J C Parra-Alvarez & O Posch,
  Quantitative Economics (forthcoming) [pdf] 

• Monetary policy's rising FX impact in the era of ultra-low rates \w M Ferrari  & J Kearns,  
  Journal of Banking and Finance, Vol 129, 2021, p 106-142, [pdf] 

• The FOMC risk shift \w T Kroencke & M Schmeling,
  Journal of Monetary Economics, Vol 120, 2021, p 21-39, [pdf] 

• The microstructure of central bank bond purchases \w K Schlepper, H Hofer and R Riordan,
  Journal of Financial and Quantitative Analysis, 2020, Vol 55, p 193 - 221 [pdf] 

• Non-monetary news in central bank communication \w A Cieslak,
  Journal of International Economics, 2019, Vol 118,  p 293-315, [pdf]

• Common risk factors in international stock markets  \w A Wagner,P Schmidt,  U v Arx, & A Ziegler,
  Financial Markets and Portfolio Management, Vol 33, p 213-241, September 2019 [pdf] 

• Currency value  \w L Menkhoff, L Sarno and M Schmeling,
  Review of Financial Studies, 2017, Vol 30, p 416-441 [pdf] 

• When the walk is not random: commodity prices and exchange rates  \w E Kohlscheen and F Avalos,
  International Journal of Central Banking, 2017, Vol. 13, No. 2, 121-158 [pdf]

• Information flows in foreign exchange markets: dissecting customer currency trades  \w L Menkhoff, L Sarno and M Schmeling, Journal of Finance, 2016, Vol. 71, 601-634 [pdf]

• The response of tail risk perceptions to unconventional monetary policy \w M Hattori and V Sushko,
  American Economic Journal: Macroeconomics, 2016, Vol 8, p 111-136 [pdf]

• Dividend predictability around the world \w J Rangvid and M Schmeling,
  Journal of Financial and Quantitative Analysis, 2014, Vol 49, 1255-1277  [pdf]

• International diversification benefits with FX investment styles \w T Kroencke and F Schindler,
  Review of Finance, 2014, Vol 18(5), 1847-1883 [paper] [wp version] [online appendix]

•  Macro expectations, aggregate uncertainty, and expected term premia \w C Dick and M Schmeling,
  European Economic Review, 2013, Vol. 58, 58–80  [paper]

•  What do professional stock market forecasters' expectations tell us about herding, information extraction, and beauty contests? \w J Rangvid and M Schmeling, Journal of Empirical Finance, 2013, Vol. 20, 109-129 [paper]

•  Currency momentum strategies \w L Menkhoff, L Sarno and M Schmeling,
  Journal of Financial Economics, 2012, Vol.106, 660-684 [paper] [wp version]

• A comprehensive look at financial volatility prediction by economic variables \w C Christiansen and M Schmeling,
  Journal of Applied Econometrics, 2012, Vol.27, 956-977 [paper] [wp version] [data]

• Carry trades and global foreign exchange volatility  \w L Menkhoff, L Sarno and M Schmeling,
  Journal of Finance, 2012, Vol. 67, 681-718  [paper]  [wp version]

• Downside risk properties of foreign exchange and equity investment strategies \w J Gyntelberg,
  Journal of Investment Strategies, 2012, Vol. 1(2), 3-21 

•  Expected inflation, expected stock returns, and money illusion: what can we learn from survey expectations? \w M Schmeling, European Economic Review, 2011, Vol. 55 , 702-719 [wp version] 

• International stock return predictability under model uncertainty, Journal of International Money and Finance, 2010, Vol. 29, 1256-1282  [wp version]

• A reappraisal of the leading indicator properties of the yield curve under structural instability   \w Q Wang, International Journal of Forecasting, 2010, Vol. 26,  836-857 [wp version]

• Asset pricing with a reference level of consumption: new evidence from the cross-section of stock returns \w J Grammig, Review of Financial Economics, 2009, Vol 18(3), 113-123

• Long-horizon consumption risk and the cross-section of returns: new tests and international evidence \w J Grammig and M Schuppli, European Journal of Finance, 2009, Vol 15, 511-532 [wp version]

• Cross-sectional tests of conditional asset pricing models: evidence from the German stock market \w M Schröder and R Stehle, European Financial Management, 2007, Vol 13, 880-907