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TZID:Europe/Paris
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DTSTART:20261025T030000
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UID:calendar.142805.field_date.0@www.tse-fr.eu
DTSTAMP:20260603T021406Z
CREATED:20260602T121001Z
DESCRIPTION:Karlye Stedman (Federal Reserve Bank of Kansas City)\, “Capital
  Flows in Risky Times: Risk-on Risk-off and Emerging Market Tail Risk”\, S
 éminaire Banque de France\, June 22\, 2026\, 11:30–12:30\, Banque de Franc
 e\, room Online and in Room 4.\n\nRisk-on risk-off shocks have pronounced 
 distributional impacts on capital flows\, with managed funds playing an in
 creasingly pivotal role in amplifying these effects. This paper demonstrat
 es that among managed funds\, passive funds\, with their limited discretio
 n and benchmarking mandates\, significantly heighten susceptibility to ext
 reme outflow realizations compared to active funds. These tail realization
 s create abnormal co-movements in emerging market flows and returns\, resu
 lting in outsized aggregate outcomes. This study highlights the distinct d
 ynamics of passive fund flows in the face of changes in global investor ri
 sk bearing capacity and provides new insights into the changing mechanisms
  driving emerging market tail risks.
DTSTART;TZID=Europe/Paris:20260622T123000
DTEND;TZID=Europe/Paris:20260622T133000
LAST-MODIFIED:20260603T001001Z
LOCATION:June 22\, 2026\, 11:30–12:30\, Banque de France\, room Online and 
 in Room 4
SUMMARY:Séminaire Banque de France
URL;TYPE=URI:https://www.tse-fr.eu/seminars/2026-capital-flows-risky-times-
 risk-risk-and-emerging-market-tail-risk
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