Institute of Finance

Research Seminar

Regular Research Seminars of Corvinus University of Budapest, Institute of Finance

What is the Research Seminar?

Our seminars bring together international researchers to discuss their finance-related research at the Institute of Finance, Corvinus University of Budapest, in Hungary. Visitors present their scientific work, engage in discussions with our professors and Ph.D. students, and interact with the university's staff in one-on-one meetings. The topics are diverse and multidisciplinary, covering areas such as volatility, asset prices, FX markets, ESG, etc.

Read more about this initiative here.

Next Seminar:
Prof. Kul B Luintel: Liquidity and Exchange Rates: New Evidence from a Bayesian TV-VAR

2026-02-23, Monday, 11:40-12:40 (Budapest time)

Institute of Finance - Room E.279.1. (Corvinus main building E, second floor)

Abstract: Recent literature argues that relative Treasury premia, interpreted as relative liquidity or convenience yields, play an important role in explaining exchange rate fluctuations and may help resolve the exchange-rate disconnect puzzle. However, existing empirical approaches abstract from cross-country heterogeneity in currencies and short-term interest rates and rule out time-varying relationships. We address these limitations by modelling nominal exchange rate dynamics and relative convenience yields across G10 currencies using a Bayesian time-varying VAR. We document three main findings. First, changes in convenience yields and interest rate differentials play no explanatory role in nominal exchange rate movements among core safe-haven currencies, namely the US dollar, Japanese yen, Swiss franc, euro, and British pound. Second, relative Treasury premia significantly explain exchange rate movements for currency pairs involving non-safe-haven G10 currencies, namely AUD, CAD, NOK, NZD, and SEK, both within this group and in pairings with safe-haven currencies. Third, these effects are highly heterogeneous across currencies and time. Our results highlight the importance of cross-country heterogeneity and time-varying dynamics in exchange rate determination.

Joint work with Yuanli Guo and Guangjie Li,

Read Prof. Kul B Luintel’s publications: https://profiles.cardiff.ac.uk/staff/luintelk

Consult the schedule of upcoming seminars: https://sites.google.com/view/finance-seminars/schedule

Please note that this Microsoft Teams link is provided only for those unable to attend the seminar in person at Corvinus University of Budapest, Institute of Finance, E.279.1. The seminar will generally be held offline.

Consult the full schedule with all the upcoming Research Seminars here.

Read more about some researchers who have already presented at our Research Seminar

Paul Whelan in Research Seminar: you can forecast the future better by understanding beliefs - Budapesti Corvinus EgyetemPaul Whelan, associate professor of finance at Copenhagen Business School and research fellow at Imperial College Business School visited Corvinus University and gave a lecture on subjective risk premia in bond and FX markets.

Publishing a paper feels like running a marathon - Budapesti Corvinus EgyetemLaurence Daures-Lescourret, a renowned researcher teaching at the Parisian ESSEC Business School, held her public lecture on 15th May upon an invitation by the Institute of Finance and the Institute of Economics.

Check the list of previous presentations at the Research Seminar

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