Schedule

These are the upcoming presentations at the Research Seminar:

Title: Global Trade Networks and Cross-Country Emissions Comovement: Evidence from International Data

2026-03-02, Monday, 14:00-15:00 (Budapest time)

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

Abstract: This paper examines how global trade structures shape cross-country comovement of carbon dioxide (CO₂) emissions. Using data for 98 countries from 1990 to 2019, we measure bilateral emissions comovement as the correlation of annual emissions growth rates across all country pairs and relate it to both direct bilateral trade and indirect third-country trade linkages. To better capture the environmental content of trade, we construct an emission-adjusted trade intensity measure that weighs trade flows by sectoral carbon intensity. Our results show that emissions comovement is strengthened in direct bilateral trade relationships, while it is weakened along indirect trade networks mediated through third countries—particularly when non-OECD economies act as intermediaries. The estimated relationship between trade linkages and emission comovement aligns with the predictions of the carbon leakage hypothesis, especially when trade linkages are operationalized as indirect trade network exposure via non-OECD third-party countries.

Joint work with Seon Tae Kimb and Namhun Kim,

Read Prof. Bongseok Choi’s publications: https://scholar.google.com/citations?user=321L5rYAAAAJ&hl=ko

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.

Prof. Brian Lucey: Biodiversity and finance: where are we, where are we going?

2026-04-27, Monday, 11:40-12:40 (Budapest time)

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

Abstract: In this live review, I provide a comprehensive overview of the intersection of biodiversity risk and finance, with an emphasis on corporate finance. I discuss being transit complexities of measuring biodiversity exposure and risk, evaluate the existing methods available, conceptualize the interrelationship between biodiversity exposure at a corporate level and firms, and show how it can be separated from other nature-based risks. I also discuss the macro financial implications, methodological complexities, and conclude with a series of opening questions for researchers.

Read Prof. Brian Lucey’s publications: https://www.tcd.ie/business/people/faculty-professors/blucey/

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.

Prof. Florian Huber: Oil, Inflation Expectations, and Household Characteristics: A Nonlinear Heterogeneous Agent VAR Approach

2026-05-04 (May 04), Monday, 11:40-12:40 (Budapest time)

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

Abstract: In this paper, we develop a scalable micro-macro modeling framework that integrates linear multivariate time series models with nonlinear panel models to investigate to what extent oil supply shocks affect household inflation expectations in the Euro area in a heterogeneous and nonlinear way. We rely on a unique and very rich multi-country micro dataset of quantitative inflation expectations from the European Commission’s monthly business and consumer survey that allows us to construct pseudo individuals based on demographic and socioeconomic characteristics. To capture nonlinearities in group-level dynamics, we explicitly model the responses of our pseudo individuals as nonlinear functions of area-wide macroeconomic aggregates using Bayesian Additive Regression Trees (BART). We find pronounced asymmetries in the response of aggregate inflation expectations to large oil supply shocks and a considerable degree of heterogeneity across countries, gender, income, and age groups. We explore several economic mechanisms to explain cross-country and group-level differences in the adjustment of inflation expectations to oil supply shocks of different magnitude and sign.

Joint work with C. Baumeister, P. Frank and G. Koop

Read Prof. Florian Huber’s publications: https://sites.google.com/site/fhuber7/

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.

Visit our Previous Talks page to see the presentations from previous editions.