Maik Schmeling

I am a Professor of Finance in the Department of Finance at Goethe University Frankfurt and a Research Fellow at the Centre for Economic Policy Research (CEPR), London. Before joining Goethe I was a professor of Finance at Cass Business School, City, University of London. These pages contain information about my research and data used in some of my papers.

Education

• Universität Hannover (2000 — 2004)

Research Interests

• Investments
• Empirical Asset Pricing
• International Finance
• Monetary Policy

Publications

• Medhat, M. and Schmeling, M. (2021). Short-term Momentum. The Review of Financial Studies.
• Menkhoff, L., Sarno, L., Schmeling, M. and Schrimpf, A. (2017). Currency Value. Review of Financial Studies, 30(2), pp. 416–441.
• Rangvid, J., Santa-Clara, P. and Schmeling, M. (2016). Capital market integration and consumption risk sharing over the long run. Journal of International Economics, 103, pp. 27–43.
• MENKHOFF, L., SARNO, L., SCHMELING, M. and SCHRIMPF, A. (2016). Information Flows in Foreign Exchange Markets: Dissecting Customer Currency Trades. The Journal of Finance, 71(2), pp. 601–634.
• SARNO, L. and SCHMELING, M. (2014). Which Fundamentals Drive Exchange Rates? A Cross-Sectional Perspective. Journal of Money, Credit and Banking, 46(2-3), pp. 267–292.
• Rangvid, J., Schmeling, M. and Schrimpf, A. (2014). Dividend predictability around the world. Journal of Financial and Quantitative Analysis, 46(4), pp. 1255–1277.
• Dick, C.D., Schmeling, M. and Schrimpf, A. (2013). Macro-expectations, aggregate uncertainty, and expected term premia. European Economic Review, 58, pp. 58–80.
• Menkhoff, L., Schmeling, M. and Schmidt, U. (2013). Overconfidence, experience, and professionalism: An experimental study. Journal of Economic Behavior & Organization, 86, pp. 92–101.
• Breitung, J. and Schmeling, M. (2013). Quantifying survey expectations: What’s wrong with the probability approach? International Journal of Forecasting, 29(1), pp. 142–154.
• Rangvid, J., Schmeling, M. and Schrimpf, A. (2013). What do professional forecasters' stock market expectations tell us about herding, information extraction and beauty contests? Journal of Empirical Finance, 20, pp. 109–129.
• Menkhoff, L., Sarno, L., Schmeling, M. and Schrimpf, A. (2012). Currency momentum strategies. Journal of Financial Economics, 106(3), pp. 660–684.
• Christiansen, C., Schmeling, M. and Schrimpf, A. (2012). A comprehensive look at financial volatility prediction by economic variables. Journal of Applied Econometrics, 27(6), pp. 956–977.
• Menkhoff, L., Sarno, L., Schmeling, M. and Schrimpf, A. (2012). Carry Trades and Global Foreign Exchange Volatility. Journal of Finance, 67(2), pp. 681–718.
• Schmeling, M. (2011). Consumption, money and excess returns. Applied Economics, 43(20), pp. 2559–2563.
• Schmeling, M. and Schrimpf, A. (2011). Expected inflation, expected stock returns, and money illusion: What can we learn from survey expectations? European Economic Review, 55(5), pp. 702–719.
• Menkhoff, L., Schmeling, M. and Schmidt, U. (2010). Are All Professional Investors Sophisticated? German Economic Review, 11(4), pp. 418–440.
• Menkhoff, L., Osler, C.L. and Schmeling, M. (2010). Limit-order submission strategies under asymmetric information. Journal of Banking & Finance, 34(11), pp. 2665–2677.
• Menkhoff, L. and Schmeling, M. (2010). Trader see, trader do: How do (small) FX traders react to large counterparties’ trades? Journal of International Money and Finance, 29(7), pp. 1283–1302.
• Menkhoff, L. and Schmeling, M. (2010). Whose trades convey information? Evidence from a cross-section of traders. Journal of Financial Markets, 13(1), pp. 101–128.
• Melvin, M., Menkhoff, L. and Schmeling, M. (2009). Exchange rate management in emerging markets: Intervention via an electronic limit order book. Journal of International Economics, 79(1), pp. 54–63.
• Schmeling, M. (2009). Investor sentiment and stock returns: Some international evidence. Journal of Empirical Finance, 16(3), pp. 394–408.
• Menkhoff, L. and Schmeling, M. (2008). Local information in foreign exchange markets. Journal of International Money and Finance, 27(8), pp. 1383–1406.
• Schmeling, M. (2007). Institutional and individual sentiment: Smart money and noise trader risk? International Journal of Forecasting, 23(1), pp. 127–145.
• Menkhoff, L. and Schmeling, M. (2006). A prospect-theoretical interpretation of momentum returns. Economics Letters, 93(3), pp. 360–366.
• Della Corte, P., Sarno, L., Schmeling, M. and Wagner, C. Sovereign Risk and Currency Returns. SSRN Electronic Journal.