Lukas Menkhoff

German Institute for Economic Research (DIW Berlin)

Mohrenstraße 58

Berlin, 10117

Germany

Humboldt University of Berlin - Faculty of Economics

Spandauer Strasse 1

Berlin

Germany

SCHOLARLY PAPERS

39

DOWNLOADS
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11,667

CITATIONS
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Top 3,588

in Total Papers Citations

151

Scholarly Papers (39)

1.
Downloads 3,547 ( 1,986)
Citation 14

Currency Momentum Strategies

Number of pages: 86 Posted: 21 Apr 2011 Last Revised: 07 Nov 2011
German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School, City University London - Sir John Cass Business School and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 3,081 (2,492)
Citation 14

Abstract:

Momentum returns, Limits to Arbitrage, Idiosyncratic Volatility, Carry Trades

Currency Momentum Strategies

BIS Working Paper No. 366
Number of pages: 89 Posted: 13 Dec 2011
German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School, City University London - Sir John Cass Business School and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 456 (49,122)
Citation 14

Abstract:

Momentum Returns, Limits to Arbitrage, Idiosyncratic Volatility, Carry Trades

Currency Momentum Strategies

CEPR Discussion Paper No. DP8747
Number of pages: 90 Posted: 20 Jan 2012
German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School, City University London - Sir John Cass Business School and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 10 (510,941)
Citation 14

Abstract:

Carry Trades, Idiosyncratic Volatility, Limits to Arbitrage, Momentum Returns

2.
Downloads 2,618 ( 3,422)
Citation 34

Carry Trades and Global Foreign Exchange Volatility

Journal of Finance, Forthcoming, EFA 2009 Bergen Meetings Paper
Number of pages: 93 Posted: 14 Feb 2009 Last Revised: 02 Mar 2011
German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School, City University London - Sir John Cass Business School and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 2,601 (3,381)
Citation 34

Abstract:

F31, G12, G15

Carry Trades and Global Foreign Exchange Volatility

CEPR Discussion Paper No. DP8291
Number of pages: 95 Posted: 28 Mar 2011
German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School, City University London - Sir John Cass Business School and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 17 (470,902)
Citation 34

Abstract:

carry trade, forward premium puzzle, liquidity, volatility

3.
Downloads 1,431 ( 9,578)

Currency Value

Number of pages: 58 Posted: 22 Jun 2013 Last Revised: 27 Jun 2015
German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School, City University London - Sir John Cass Business School and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 739 (25,785)

Abstract:

Currency value, macro fundamentals, real exchange rate, predictability

Currency Value

Number of pages: 58 Posted: 06 Sep 2014 Last Revised: 27 Jun 2015
German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School, City University London - Sir John Cass Business School and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 692 (28,311)

Abstract:

Currency value, macro fundamentals, real exchange rate, predictability

4.

What Drives Home Bias? Evidence from Fund Managers' Views

EFMA 2004 Basel Meetings Paper
Number of pages: 24 Posted: 18 May 2004
Torben Lütje and Lukas Menkhoff
University of Hannover and German Institute for Economic Research (DIW Berlin)
Downloads 433 (51,639)
Citation 1

Abstract:

Home bias, institutional investors, local information advantage, non-fundamental information, disposition effect

5.

Price Discovery in Currency Markets

EFA 2006 Zurich Meetings
Number of pages: 51 Posted: 15 Mar 2006
Carol L. Osler, Lukas Menkhoff and Alexander Mende
Brandeis University - International Business School, German Institute for Economic Research (DIW Berlin) and University of Hannover
Downloads 342 (66,102)
Citation 16

Abstract:

Bid-ask spreads, foreign exchange, asymmetric information, microstructure, price discovery, interdealer, inventory, market order, limit order

Exchange Rate Expectations of Chartists and Fundamentalists

ZEW - Centre for European Economic Research Discussion Paper No. 12-026
Number of pages: 53 Posted: 12 Apr 2012
Christian David Dick and Lukas Menkhoff
Centre for European Economic Research (ZEW) and German Institute for Economic Research (DIW Berlin)
Downloads 143 (167,311)

Abstract:

exchange rate formation, expectation formation, heterogeneous agent models, forecasting performance

Exchange Rate Expectations of Chartists and Fundamentalists

CESifo Working Paper Series No. 4181
Number of pages: 52 Posted: 16 Apr 2013
Christian David Dick and Lukas Menkhoff
Centre for European Economic Research (ZEW) and German Institute for Economic Research (DIW Berlin)
Downloads 124 (187,634)

Abstract:

exchange rate formation, expectation formation, heterogeneous agent models, forecasting performance

7.

Collateral-Based Lending in Emerging Markets: Evidence from Thailand

Journal of Banking and Finance, Forthcoming
Number of pages: 31 Posted: 11 May 2004
German Institute for Economic Research (DIW Berlin), University of Rostock - Department of Economics and Chulalongkorn University
Downloads 247 (98,838)
Citation 13

Abstract:

Bank lending, collateral, credit risk, relationship lending, emerging economies, Thailand

Information Flows in Foreign Exchange Markets: Dissecting Customer Currency Trades

BIS Working Paper No. 405
Number of pages: 89 Posted: 12 Apr 2013
German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School, City University London - Sir John Cass Business School and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 183 (134,607)
Citation 2

Abstract:

Order Flow, Foreign Exchange Risk Premia, Heterogeneous Information, Carry Trades

Information Flows in Foreign Exchange Markets: Dissecting Customer Currency Trades

Journal of Finance, Forthcoming
Number of pages: 86 Posted: 20 May 2012 Last Revised: 17 Mar 2016
German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School, City University London - Sir John Cass Business School and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 35 (379,294)
Citation 2

Abstract:

Order Flow, Foreign Exchange Risk Premia, Heterogeneous Information, Carry Trades

9.

Whose Trades Convey Information? Evidence from a Cross-Section of Traders

Number of pages: 46 Posted: 01 Mar 2007
Lukas Menkhoff and Maik Schmeling
German Institute for Economic Research (DIW Berlin) and City University London - Sir John Cass Business School
Downloads 213 (116,743)
Citation 5

Abstract:

Market microstructure, informed trading, trade size, foreign exchange

Automating Exchange Rate Target Zones: Intervention Via an Electronic Limit Order Book

CESifo Working Paper Series No. 2221
Number of pages: 48 Posted: 19 Feb 2008
Michael Melvin, Lukas Menkhoff and Maik Schmeling
University of California, San Diego (UCSD) - Rady School of Management, German Institute for Economic Research (DIW Berlin) and City University London - Sir John Cass Business School
Downloads 106 (211,178)
Citation 1

Abstract:

foreign exchange, microstructure, intervention, exchange rate

Exchange Rate Management in Emerging Markets: Intervention via an Electronic Limit Order Book

CESifo Working Paper Series No. 2656
Number of pages: 52 Posted: 27 May 2009
Michael Melvin, Lukas Menkhoff and Maik Schmeling
University of California, San Diego (UCSD) - Rady School of Management, German Institute for Economic Research (DIW Berlin) and City University London - Sir John Cass Business School
Downloads 90 (236,399)
Citation 3

Abstract:

exchange rates, intervention, microstructure

The Use of Flow Analysis in Foreign Exchange: Explanatory Analysis

CEPR Discussion Paper No. 3221
Number of pages: 42 Posted: 14 Mar 2002
Thomas Gehrig and Lukas Menkhoff
University of Vienna - Faculty of Business, Economics, and Statistics and German Institute for Economic Research (DIW Berlin)
Downloads 95 (228,014)
Citation 19

Abstract:

Foreign exchange markets, flow trading, market microstructure

The Use of Flow Analysis in Foreign Exchange: Exploratory Evidence

Number of pages: 40 Posted: 31 Mar 2011
Thomas Gehrig and Lukas Menkhoff
University of Vienna - Faculty of Business, Economics, and Statistics and German Institute for Economic Research (DIW Berlin)
Downloads 85 (245,266)
Citation 19

Abstract:

12.

Limit-Order Submission Strategies under Asymmetric Information

CESifo Working Paper Series No. 3054
Number of pages: 42 Posted: 19 May 2010
Lukas Menkhoff, Carol L. Osler and Maik Schmeling
German Institute for Economic Research (DIW Berlin), Brandeis University - International Business School and City University London - Sir John Cass Business School
Downloads 167 (132,622)
Citation 7

Abstract:

limit-order market, order submission, informed traders, market conditions

When is Foreign Exchange Intervention Effective? Evidence from 33 Countries

Number of pages: 62 Posted: 05 Nov 2015 Last Revised: 12 Jul 2016
DIW Berlin, Leibniz Universität Hannover, German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School and Kiel Institute for the World Economy
Downloads 82 (250,891)

Abstract:

foreign exchange intervention, exchange rate regimes, effectiveness measures, communication, capital controls

When is Foreign Exchange Intervention Effective? Evidence from 33 Countries

DIW Berlin Discussion Paper No. 1518
Number of pages: 71 Posted: 19 Nov 2015 Last Revised: 25 Apr 2017
DIW Berlin, Leibniz Universität Hannover, German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School and Kiel Institute for the World Economy
Downloads 78 (258,671)

Abstract:

Foreign exchange intervention, exchange rate regimes, effectiveness measures, communication, capital controls

14.
Downloads 145 (165,112)

Do Women Manage Smaller Funds?

IZA Discussion Paper No. 4771
Number of pages: 31 Posted: 22 Feb 2010
Olaf Hübler and Lukas Menkhoff
University of Hannover and German Institute for Economic Research (DIW Berlin)
Downloads 143 (167,311)

Abstract:

asset managers, gender, qualification, segregation, attitudes

Do Women Manage Smaller Funds?

Scottish Journal of Political Economy, Vol. 58, Issue 1, pp. 107-126, 2010
Number of pages: 20 Posted: 19 Dec 2010
Olaf Hübler and Lukas Menkhoff
University of Hannover and German Institute for Economic Research (DIW Berlin)
Downloads 2 (554,515)

Abstract:

15.

Exchange Rate Forecasters' Performance: Evidence of Skill?

CESifo Working Paper Series No. 2615
Number of pages: 40 Posted: 20 Apr 2009
Ronald MacDonald, Lukas Menkhoff and Rafael R. Rebitzky
University of Strathclyde in Glasgow - Department of Economics, German Institute for Economic Research (DIW Berlin) and Leibniz University Hannover
Downloads 132 (174,867)

Abstract:

foreign exchange market, individual exchange rate forecasts, interest rate forecasts, forecaster experience

High-Frequency Analysis of Foreign Exchange Interventions: What Do We Learn?

CESifo Working Paper Series No. 2473
Number of pages: 36 Posted: 03 Dec 2008
Lukas Menkhoff
German Institute for Economic Research (DIW Berlin)
Downloads 128 (183,050)
Citation 2

Abstract:

foreign exchange, central bank intervention, high-frequency data, transmission channel

High-Frequency Analysis of Foreign Exchange Interventions: What Do We Learn?

Journal of Economic Surveys, Vol. 24, Issue 1, pp. 85-112, February 2010
Number of pages: 28 Posted: 06 Jan 2010
Lukas Menkhoff
German Institute for Economic Research (DIW Berlin)
Downloads 1 (564,625)
Citation 2

Abstract:

17.

Trader See, Trader Do: How Do (Small) FX Traders React to Large Counterparties’ Trades?

Number of pages: 52 Posted: 30 Mar 2009 Last Revised: 25 Mar 2010
Lukas Menkhoff and Maik Schmeling
German Institute for Economic Research (DIW Berlin) and City University London - Sir John Cass Business School
Downloads 125 (174,867)
Citation 2

Abstract:

Foreign exchange microstructure, order flow, informed traders, counterparty identity

18.

Individual Exchange Rate Forecasts and Expected Fundamentals

ZEW - Centre for European Economic Research Discussion Paper No. 11-062
Number of pages: 53 Posted: 09 Jan 2012
Centre for European Economic Research (ZEW), University of Strathclyde in Glasgow - Department of Economics and German Institute for Economic Research (DIW Berlin)
Downloads 119 (184,724)
Citation 1

Abstract:

exchange rate determination, individual expectations, macroeconomic fundamentals

19.
Downloads 110 (204,470)
Citation 8

The Rise of Fund Managers in Foreign Exchange

CEPR Discussion Paper No. 4752
Number of pages: 37 Posted: 26 Jan 2005
Thomas Gehrig and Lukas Menkhoff
University of Vienna - Faculty of Business, Economics, and Statistics and German Institute for Economic Research (DIW Berlin)
Downloads 85 (245,266)
Citation 7

Abstract:

Foreign exchange, market microstructure, fund management, fundamentals

The Rise of Fund Managers in Foreign Exchange: Will Fundamentals Ultimately Dominate?

The World Economy, Vol. 28, No. 4, pp. 519-540, April 2005
Number of pages: 22 Posted: 21 Apr 2005
Thomas Gehrig and Lukas Menkhoff
University of Vienna - Faculty of Business, Economics, and Statistics and German Institute for Economic Research (DIW Berlin)
Downloads 25 (425,389)
Citation 8

Abstract:

20.

Heterogeneity in Exchange Rate Expectations: Evidence on the Chartist-Fundamentalist Approach

CESifo Working Paper Series No. 2502
Number of pages: 31 Posted: 18 Dec 2008
German Institute for Economic Research (DIW Berlin), Leibniz University Hannover and Centre for European Economic Research (ZEW) - International Finance and Financial Management
Downloads 96 (218,849)
Citation 5

Abstract:

exchange rate, heterogeneity, dispersion, chartists, fundamentalists

21.

Collateral and its Substitutes in Emerging Markets' Lending

CESifo Working Paper Series No. 3585
Number of pages: 46 Posted: 28 Sep 2011
German Institute for Economic Research (DIW Berlin), University of Rostock - Department of Economics and affiliation not provided to SSRN
Downloads 54 (277,209)

Abstract:

lending, financial institutions, collateral, guarantees, relationship lending

22.

What Do We Know About Real Exchange Rate Non-Linearities?

CREATES Research Paper 2009-50
Number of pages: 27 Posted: 29 Oct 2009
University of Aarhus, Ghent University - Department of Financial Economics, German Institute for Economic Research (DIW Berlin) and University of Hannover
Downloads 29 (386,352)

Abstract:

real exchange rates, unit root test, ESTAR, Markov Switching, PPP

Bonus Payments and Fund Managers' Behaviour: Trans-Atlantic Evidence

CEPR Discussion Paper No. DP7118
Number of pages: 36 Posted: 18 Feb 2009
Thomas Gehrig, Torben Lütje and Lukas Menkhoff
University of Vienna - Faculty of Business, Economics, and Statistics, University of Hannover and German Institute for Economic Research (DIW Berlin)
Downloads 25 (425,389)

Abstract:

fund managers, fundamental information, incentives

Bonus Payments and Fund Managers’ Behavior: Transatlantic Evidence

CESifo Economic Studies, Vol. 55, Issue 3-4, pp. 569-594, 2009
Posted: 08 Dec 2009
Thomas Gehrig, Torben Lütje and Lukas Menkhoff
University of Vienna - Faculty of Business, Economics, and Statistics, University of Hannover and German Institute for Economic Research (DIW Berlin)

Abstract:

Fund managers, incentives, fundamental information

24.

Are Foreign Institutional Investors Good for Emerging Markets?

The World Economy, Vol. 27, No. 8, pp. 1275-1293, August 2004
Number of pages: 19 Posted: 07 Oct 2004
Michael Frenkel and Lukas Menkhoff
WHU Otto Beisheim Graduate School of Management and German Institute for Economic Research (DIW Berlin)
Downloads 22 (428,264)
Citation 4

Abstract:

25.

Politicians' Promotion Incentives and Bank Risk Exposure in China

ZEW - Centre for European Economic Research Discussion Paper No. 15-026
Number of pages: 54 Posted: 20 Jun 2015
Wang Li, Lukas Menkhoff, Michael Schröder and Xian Xu
Fudan University, German Institute for Economic Research (DIW Berlin), Centre for European Economic Research (ZEW) - International Finance and Financial Management and Fudan University - School of Economics
Downloads 17 (347,004)

Abstract:

Bank Lending; Bank Risk Exposure; Local Politicians; Promotion Incentives

26.

Financial Liberalization in Emerging Markets: How Does Bank Lending Change?

World Economy, Vol. 31, Issue 3, pp. 393-415, March 2008
Number of pages: 23 Posted: 26 Feb 2008
Olaf Hübler, Lukas Menkhoff and Chodechai Suwanaporn
University of Hannover, German Institute for Economic Research (DIW Berlin) and Chulalongkorn University
Downloads 14 (469,573)
Citation 1

Abstract:

27.

Order Flows, News, and Exchange Rate Volatility

Leobniz Universitaet Hannover Working Paper
Number of pages: 24 Posted: 01 Mar 2007
Michael Frömmel, Alexander Mende and Lukas Menkhoff
University of Hannover, RPM Risk & Portfolio Management AB and German Institute for Economic Research (DIW Berlin)
Downloads 8 (454,059)
Citation 3

Abstract:

exchange rate, market microstructure, order flow, financial customer orders, volatility patterns

28.

Childhood Roots of Financial Literacy

DIW Berlin Discussion Paper No. 1504
Number of pages: 44 Posted: 24 Sep 2015
Antonia Grohmann, Roy Kouwenberg and Lukas Menkhoff
German Institute for Economic Research (DIW Berlin), Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) and German Institute for Economic Research (DIW Berlin)
Downloads 4 (316,934)

Abstract:

Financial literacy, financial behavior, family background, education, numeracy

29.

Will Women be Women? Analyzing the Gender Difference Among Financial Experts

Kyklos, Vol. 61, No. 3, pp. 364-384, August 2008
Number of pages: 21 Posted: 18 Jul 2008
Daniela Beckmann and Lukas Menkhoff
affiliation not provided to SSRN and German Institute for Economic Research (DIW Berlin)
Downloads 2 (528,013)
Citation 11

Abstract:

30.

Allais for the Poor: Relations to Ability, Information Processing and Risk Attitudes

DIW Berlin Discussion Paper No. 1645
Number of pages: 36 Posted: 10 Mar 2017
Leibniz Universität Hannover, University of Hannover, German Institute for Economic Research (DIW Berlin) and University of Kiel - Institute of Economics
Downloads 0 (489,886)

Abstract:

Field experiments, Allais paradox, socio-demographic characteristics, prospective reference theory, first order stochastic dominance, risk attitude, optimism

31.

Financial Literacy: Thai Middle Class Women Do Not Lag Behind

DIW Berlin Discussion Paper No. 1615
Number of pages: 53 Posted: 11 Nov 2016
German Institute for Economic Research (DIW Berlin), University of Hannover, Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE) and German Institute for Economic Research (DIW Berlin)
Downloads 0 (428,264)

Abstract:

financial literacy, financial behavior, gender gap, individual characteristics, societal norms, Thailand

32.

Estimating Risky Behavior with Multiple-Item Risk Measures

DIW Berlin Discussion Paper No. 1608
Number of pages: 66 Posted: 26 Sep 2016 Last Revised: 27 Feb 2017
Lukas Menkhoff and Sahra Sakha
German Institute for Economic Research (DIW Berlin) and Deutsche Bundesbank
Downloads 0 (386,352)

Abstract:

risk, experiments, household survey, testing methods, contexts

33.

Financial Conditions, Macroeconomic Factors and (Un)Expected Bond Excess Returns

Bundesbank Discussion Paper No. 35/2014
Number of pages: 34 Posted: 21 Jun 2016
Christoph Fricke and Lukas Menkhoff
Deutsche Bundesbank and German Institute for Economic Research (DIW Berlin)
Downloads 0 (469,573)

Abstract:

financial conditions, bond excess returns, term premia

34.

Currency Value

CEPR Discussion Paper No. DP11324
Number of pages: 56 Posted: 13 Jun 2016
German Institute for Economic Research (DIW Berlin), City University London - Sir John Cass Business School, City University London - Sir John Cass Business School and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 0 (528,013)

Abstract:

Currency value, macro fundamentals, predictability, real exchange rate

35.

Determinants of Risk Aversion Over Time: Experimental Evidence from Rural Thailand

DIW Berlin Discussion Paper No. 1582
Number of pages: 58 Posted: 30 May 2016
Lukas Menkhoff and Sahra Sakha
German Institute for Economic Research (DIW Berlin) and Deutsche Bundesbank
Downloads 0 (394,809)

Abstract:

risk aversion, lab-in-the-field experiment, shocks, socio-economic determinants

36.

Does Financial Education Impact Financial Behavior, and If so, When?

DIW Berlin Discussion Paper No. 1562
Number of pages: 66 Posted: 24 Mar 2016
Tim Kaiser and Lukas Menkhoff
German Institute for Economic Research (DIW Berlin) - Department of International Economics and German Institute for Economic Research (DIW Berlin)
Downloads 0 (96,058)

Abstract:

Financial education, financial literacy, financial behavior, metaanalysis, meta-regression, impact evaluation

37.

Equity Premium Prediction: Are Economic and Technical Indicators Unstable?

DIW Berlin Discussion Paper No. 1552
Number of pages: 50 Posted: 24 Feb 2016
Fabian Baetje and Lukas Menkhoff
Leibniz Universität Hannover and German Institute for Economic Research (DIW Berlin)
Downloads 0 (256,287)

Abstract:

equity premium predictability, economic indicators, technical indicators, break tests

38.

Financial Professionals' Overconfidence: Is it Experience, Function, or Attitude?

European Financial Management, Vol. 20, Issue 2, pp. 236-269, 2014
Number of pages: 34 Posted: 15 Mar 2014
Oliver Gloede and Lukas Menkhoff
Swiss National Bank and German Institute for Economic Research (DIW Berlin)
Downloads 0 (549,183)

Abstract:

better‐than‐average, self‐rating, forecasting, foreign exchange, performance

39.

Foreign Exchange Intervention in Emerging Markets: A Survey of Empirical Studies

The World Economy, Vol. 36, Issue 9, pp. 1187-1208, 2013
Number of pages: 22 Posted: 07 Sep 2013
Lukas Menkhoff
German Institute for Economic Research (DIW Berlin)
Downloads 0 (549,183)

Abstract: