Roger Vicquéry

Senior Research Economist, Bank of England. Personal views only.

[Roger Vicquéry @RVicquery]

New paper alert! 🚨
With @mar_garofalo and @GiovanniMarcoR2, we explore a significant - but so far overlooked - consequence of the Brexit referendum: the dollarisation of UK exports in the aftermath of the 2016 GBP devaluation. https://t.co/VJ0xJc8Qy3
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#econtwitter

[Marco Pinchetti @marco_pinchetti]

On today's FT- Gold has replaced US Treasuries as world’s top reserve asset(!) Fantastic excuse to advertise our new WP "Fool's Gold" with the great @KaiArvai @NunoCoimbra (both sadly✝️on X) where we rationalise the rise of gold via theory&empirics👉https://t.co/zmm3YSklPX 1/6

[Global Capital Allocation Project @GCAProject]

We thank the speakers at the RFS-GCAP-GSB Conference on The Geoeconomics of Financial Markets for contributing to great discussions on this topic last week. Agenda here: https://t.co/x69aBuPl9R.

We are grateful to @StanfordGSB and @SFSjournals for making this event possible.

[Ambrogio Cesa-Bianchi @AmbrogioCB]

Tune in tomorrow for the BoE annual research conference 'The Interconnected World' (7–8 May) 🌍 Stellar line-up: Keynote by @helene_rey, fireside chat btw @martinwolf_ and Governor Andrew Bailey, and policy panel featuring @MyStephanomics, Alan Taylor & Livio Stracca (moderated by Clare Lombardelli). Alongside many great papers.

Livestream link and programme 👇 https://t.co/HkBdj9alaU

[Daniel McDowell @daniel_mcdowell]

Are Bessent's proposed swap lines with Gulf and Asian states an indication that the dollar has become what Susan Strange--the OG theorist of the geoeconomics of international currencies--called a "Negotiated Currency"?

A short 🧵(1/10)

[Ambrogio Cesa-Bianchi @AmbrogioCB]

Global imbalances were meant to be behind us. They are not. This Bank of England Substack summarises new evidence—and why it matters—based on recent work with brilliant colleagues at the Bank: https://t.co/lXOjS8DirL

[International and Monetary Economics Network @int_mon_econ]

Highly relevant!

"Rethinking global imbalances: drivers, risks, and policy priorities" by Ambrogio Cesa-Bianchi, Dan Christen, Peter Denton, Aydan Dogan, Will Dison, Ida Hjortsoe, Mark Joy, Jeremy Martin, Daniel Ostry, Roger Vicquery, and Simon Whitaker.

"Today, global current account imbalances are near their highest levels in 150 years. And on each of the three occasions in modern history when they were higher, economic turmoil or crisis followed. That is not a prediction – but it is a fact that deserves serious attention."

Discussion Paper:
https://t.co/3dvTcCe7jk

Blog post:
https://t.co/DPcd6tnqWQ

[Global Capital Allocation Project @GCAProject]

The agenda for the RFS-GCAP-GSB Conference on The Geoeconomics of Financial Markets on May 15 is now available.

View it here: https://t.co/ZieiaUTxt6

Organized by @m_maggiori, @JSchreger, @chris_d_clayton, @chenzix

Hosted by the RFS,@GCAProject, and @StanfordGSB

[Marco Garofalo @mar_garofalo]

🚨New Paper🚨
I study how US monetary policy shocks affect non-US firms depending on their carbon emissions: brown firms experience higher bond spreads, lower equity prices and investment.

➡️🟩/🟫 economies more/less resilient

https://t.co/fWb4VLpha1

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#EconTwitter

[Journal of International Economics @JIntlEcon]

🌍📊 Call for Papers
Joint BIS–BoE–ECB–IMF & JIE Spillover Conference
📍 Washington, DC | 🗓️ Apr 28–29, 2026
✍️ Deadline: Nov 30, 2025
📖 Selected papers → JIE special issue

🔗 More info: https://t.co/IYdUBcgM6p

@BIS_org @BankofEngland @ECB @IMFNews

[Kiel Institut @kielinstitute]

Berlin or online: Register now & join us for the next Kiel-CEPR Research Seminar with @RVicquery, who will present his paper on the effect of financial sanctions on the dominance of the US dollar in global credit markets 👉 https://t.co/7sMzeyTxvE
@LSEnews @cepr_org

[Journal of International Economics @JIntlEcon]

📢 Call for Papers
Global Spillovers Amid Shifting Policies
Joint BIS • BoE • ECB • IMF • JIE Conference
📍 Washington, D.C. | 🗓 April 28–29, 2026

📝 Submit by Nov 30, 2025

@BIS_org @BankofEngland @ECB @IMFNews

[Romesh Vaitilingam @econromesh]

Global anchoring to the US dollar fell sharply after 1971, & global exchange rate fixity (as measured by a new index) is now only about one-third of the Bretton Woods level, @voxeu https://t.co/8lEe9AQQBd

[Marco Pinchetti @marco_pinchetti]

🚨NEW WORKING PAPER ALERT🚨

"Geopolitical Risk and Inflation: The Role of Energy Markets"

https://t.co/7eQBG0bQvz

Research question: What happens to *inflation* when geopolitical shocks hit?

Answer: it depends.

Short thread below👇

1/5

[Linda Yueh @lindayueh]

The evolving network of global peg relationships
https://t.co/J1e5z0OPNQ

[本石町日記 @hongokucho]

ブレトンウッズ体制の崩壊、変動相場制への大転換とみなされるが、固定的体制はどの程度下がったのか、についての新たな指標を考察。
https://t.co/wOdJbnN32E

[VoxEU @voxeu]

Rethinking exchange rate flexibility in the post-Bretton Woods era: Evidence from a new index
Kevin O'Rourke @sciencespo @ScPoResearch @CNRS, Roger Vicquery @RVicquery @bankofengland @CFMUK
https://t.co/ojtWLENyDh

[Dario Perkins @darioperkins]

How fixed are global exchange rates? https://t.co/rKObsuGGK8 via @boe_research

[Roger Vicquéry @RVicquery]

🚨🚨🚨New BoE Bank Underground blog post on our paper - joint work with Kevin O’Rourke - revisiting global exchange rate fixity since the end of Bretton Woods 👇 https://t.co/3s1p1eUpqp

[Marco Garofalo @mar_garofalo]

Phenomenal #NBUNBPconference25 @NBUkraine 🇺🇦 Presented our work on financial sanctions and USD dominance, focusing on how post-2014 international lending to Russia de-dollarized ($⬇) in favour of a euroization (€⬆️)
https://t.co/3mRrAYodye

[Nora Strecker @StreckerNM]

It is Workshop Day! CEPR-UCD-CBI workshop “Uncertain Tides: The Past and Present of Trade Policy” is kicking off today at the Central Bank of Ireland. @alandebromhead @cian_ruane @EconomicsUCD @ucddublin @centralbank_ie @cepr_org