Title: In-Sample Evaluation of Exchange Rate Models: Looking for the "Scapegoat"

Note: The term "scapegoat" here is a specific concept in the field of exchange rate model evaluation, referring to factors that may be improperly attributed in model evaluation. The lecture will focus on the logic of in-sample evaluation of exchange rate models and the identification of such factors.

Speaker: Yin-Wong Cheung (Zhang Xianwang)

Position background: Emeritus Professor of the Department of Economics, University of California, Santa Cruz; former Chair Professor of International Economics and Founding Director of the Global Research Group, Department of Economics and Finance, City University of Hong Kong;

Industry positions: Former Member of the Advisory Committee of the Hong Kong Monetary Institute of the Hong Kong Monetary Authority, Former Member of the Currency Committee of the Exchange Fund Advisory Committee of the Hong Kong Monetary Authority;

Academic identity: CESifo Research Fellow (Germany), Member of the Center for Analytical Finance;

Research fields: Econometrics, exchange rate dynamics, asset pricing, output fluctuations, and economic issues of Asian economies;

Academic achievements: Published more than 140 papers in top academic journals such as Journal of Finance, Econometric Theory, and Journal of International Economics.

Date & time: 16 December 2025, 10:00

Venue: B321, Zhixin Building, Central Campus, Shandong University

Organizer: School of Economics, Shandong University