Angelo Ranaldo
Angelo Ranaldo (born 1970) is a Swiss economist. He has been a full professor and chair of finance and systemic risk at the University of St. Gallen in Switzerland since April 2012. He is also a board member of the Swiss Institute of Banking and Finance and the School of Finance at St. Gallen. Before joining the HSG, he served as an economic advisor at the Swiss National Bank. He holds a Ph.D. (2000) in economics and social science from University of Fribourg (Switzerland). He received both his bachelor’s and master’s degrees in economics and finance from the University L. Bocconi (Italy).
Angelo Ranaldo is the author of numerous research articles[1] and books. His research areas include foreign exchange markets, interbank repo markets, derivative markets, as well as financial and monetary regulations.
Foreign exchange market
Ranaldo has published numerous articles on FX markets. Mancini, Ranaldo and Wrampelmeyer (2013)[2] provides the first systematic study of liquidity in the FX market. They find significant variation in liquidity across exchange rates, substantial costs due to FX illiquidity, and strong commonality in the liquidities of different currencies. Fischer and Ranaldo (2008)[3] finds strong evidence that trading volume increases by around 5% across currency areas on FOMC days during 2003 to 2007. Karnaukh, Ranaldo and Söderlind (2015)[4] shows FX liquidity can be accurately measured with daily and readily available data and a stronger comovement of FX liquidities in distressed markets, especially when funding is constrained, volatility is high, and FX speculators incur losses. Ranaldo and Söderlind (2010)[5] studies high-frequency exchange rate movements over the sample 1993-2006 and documents that the franc, euro, Japanese yen and the pound tend to appreciate against the U.S. dollar when S&P has negative returns; U.S. bond prices increase and when currency markets become more volatile.
References
- ↑ "Publications Prof. Angelo Ranaldo | s/bf-HSG | University of St.Gallen". Homepage Institute s/bf-HSG.
- ↑ MANCINI, LORIANO; RANALDO, ANGELO; WRAMPELMEYER, JAN (April 2013). "Liquidity in the Foreign Exchange Market: Measurement, Commonality, and Risk Premiums". Journal of Finance. 68 (5): 1805–1841. doi:10.1111/jofi.12053.
- ↑ Fischer, Andreas; Ranaldo, Angelo (November 2011). "Does FOMC News Increase Global FX Trading?" (PDF). Journal of Banking & Finance. 35 (11): 2965–2973. doi:10.1016/j.jbankfin.2011.03.024.
- ↑ Karnaukh, Nina; Ranaldo, Angelo; Söderlind, Paul (May 2015). "Understanding FX Liquidity" (PDF). Review of Financial Studies. 28 (11): 3073–3108. doi:10.1093/rfs/hhv029.
- ↑ Ranaldo, Angelo; Söderlind, Paul (July 2010). "Safe Haven Currencies". Review of Finance. 14 (3): 385–407. doi:10.1093/rof/rfq007.
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