Asset Pricing.

• Position: Program and Working Group Meetings

The NBER's Program on Asset Pricing met in Palo Alto on October 28. Faculty Research Fellow Valentin Haddad of University of California, Los Angeles, and Research Associate Motohiro Yogo of Princeton University organized the meeting. These researchers' papers were presented and discussed:

* Tarek A. Hassan, University of Chicago and NBER; Thomas Mertens, Federal Reserve Bank of San Francisco; and Tony Zhang, University of Chicago, "Currency Manipulation"

* Hanno Lustig, Stanford University and NBER, and Adrien Verdelhan, MIT and NBER, "Does Incomplete Spanning in International Financial Markets Help to Explain Exchange Rates?" (NBER Working Paper No. 22023)

* Harrison Hong, Columbia University and NBER; Frank Weikai Li, Hong Kong University of Science and Technology; and Jiangmin Xu, Peking University (Beijing), "Climate Risks and Market Efficiency"

* Stephan Jank and Christoph Roling, Deutsche Bundesbank, and Esad Smajlbegovic, Erasmus University...