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Untitled Document RFS Editors Michael Weisbach Raman Uppal Laura Starks Tobias Mosowitz Joel Hasbrouck Paolo Fulghieri
For Papers Currently Under Review

 

News

Remember to tell your colleagues about the RFS's Young Researcher Prize sponsored by JPMorgan!

May 1, 2008:

The RFS is pleased to announce that starting this summer Samuel Henkel will take over the journal's post-doctoral position. We look forward to working with him.

April 5, 2008:

Decisions on the dual submissions from the Texas Finance Festival have all been sent. If you have not heard from us please let us know. Further evidence that batch processing emails can be dangerous: The letters declining to go forward with the dual review process included the name of the wrong conference in the body. Apologies for any confusion this may have caused. However, to reiterate the most important point of the letter: No paper submitted as a dual submission from the Texas Finance Festival has been rejected by the RFS. Authors can and should feel free to submit their papers under the standard submission process.

April 1, 2008:

The RFS would like to wish Christopher Schwarz, the current holder of our post-doctoral position, great success in his new role as a ladder rank member of the U.C. Irvine faculty. He has done a wonderful job over the past year and we will be sad to see him go. This means the RFS post-doctoral position is available for the next academic year. Job responsibilities include recommending referees, and ensuring that all formatting guidelines are met prior to processing submissions. The person filling the position can hold it for up to two years. If you are interested in the position or know somebody that is please have them contact Matthew Spiegel for additional details.

January 10, 2008:

The RFS is very pleased to announce that Laura Starks has agreed to join the journal as its newest Editor. Her expertise expands the editorial board's academic reach and will no doubt improve our overall decision processes. Please join us in congratulating her on this appointment.

Send comments regarding this web page to Matthew Spiegel.



Turnaround:
Mean: 53.52 days
Median: 48 days
Total Submissions
(since 05/09/07): 867
Acceptance Rate: 10.35%

Conference Announcements

Texas Finance Festival
April 11 and 12, 2008
Hyatt Regency Resort and Spa
Lost Pines, Texas
SUBMISSION DEADLINE: February 1

Utah Winter Finance Conference
February 7-9, 2008
Salt Lake City, Utah
SUBMISSION DEADLINE: OCTOBER 1


COLOR Pages!
The RFS publishes pages in color! The service fee is $600 per figure and just covers the journal's costs.
Forthcoming in the RFS
The Review of Financial Studies
Exchange Rates, Equity Prices and Capital Flows
by Harald Hau and Hélène Rey

We develop an equilibrium model in which exchange rates, stock prices and capital flows are jointly determined under incomplete forex risk trading. Incomplete hedging of forex risk, documented for U.S. global mutual funds, induces the following price and capital flow dynamics: Higher returns in the home equity market relative to the foreign equity market are associated with a home currency depreciation. Net equity flows into the foreign market are positively correlated with a foreign currency appreciation. The model predictions are strongly supported at daily, monthly and quarterly frequencies for 17 OECD countries vis-àvis the U.S. Correlations are strongest after 1990 and for countries with higher equity market capitalization relative to GDP, suggesting that the observed exchange rate dynamics is indeed related to equity market development.





 

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