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New WP Alert! 🚨🚨🚨 With Camila Gutierrez and Alejandro Vicondoa we study the international spillover effects of a macroeconomic surprise in China. To do this, we construct a new series of Macroeconomic surprises using macroeconomic releases in China.

Alejandro Vicondoa We show that macro surprises in China bring a sizeable and synchronized effect on asset prices across different countries. In addition, positive surprises significantly affect the global financial cycle, proxied by the VIX index.

Alejandro Vicondoa The effect of Chinese macroeconomic surprises on asset prices is comparable to the impact of US macro surprises but smaller than US monetary policy. We conjecture that our series of Chinese surprises affects agents' risk-taking behavior, which we interpret as Hedging Premium.

Alejandro Vicondoa Link to the paper: …4-4d45-b5c8-a6981207c9da.filesusr.com/ugd/fa83d8_7c5… All comments welcome!! 😃😃

Excited to share the program for the European Association of Young Economists Annual Meeting 2025 is OUT NOW! Looking forward to seeing you all King's College London London on May 29–31!

📢Join Alejandro as he will be presenting our paper (together with the great Camila Gutiérrez) on the effects of Chinese Macro announcements on international prices. All comments welcome ‼️‼️

Nuestros resultados ofrecen nueva evidencia empírica sobre la propagación global de las sorpresas económicas en economías grandes, tales como China, a través de los mercados financieros. Por Camila Gutiérrez, Javier Turén R y Alejandro Vicondoa ideas.repec.org/p/aoz/wpaper/3…

At this year's pre-doctoral economics conference, Princeton Economics expanded the format to bring together pre-docs from multiple institutions for the first time, fostering a broader intellectual community of early-career researchers. Learn more: bit.ly/4lBqXHU