Details about Francis Breedon

Access statistics for papers by Francis Breedon.

Last updated 2025-05-15. Update your information in the RePEc Author Service.

Short-id: pbr179

Working Papers

2021

1. The currency that came in from the cold - Capital controls and the information content of order flow
   Economics, Department of Economics, Central bank of Iceland View citations (1)
   See also Journal Article The currency that came in from the cold: Capital controls and the information content of order flow, Journal of International Money and Finance, Elsevier (2023) (2023)

2020

2. Discounting and the market valuation of defined benefit pensions
   Working Papers, Queen Mary University of London, School of Economics and Finance

2019

3. Judgment Day: Algorithmic Trading Around The Swiss Franc Cap Removal
   Working Papers on Finance, University of St. Gallen, School of Finance View citations (2)
   Also in Bank of England working papers, Bank of England (2018) View citations (10)
   Working Papers on Finance, University of St. Gallen, School of Finance (2018) View citations (9)
   See also Journal Article Judgment day: Algorithmic trading around the Swiss franc cap removal, Journal of International Economics, Elsevier (2023) (2023)

2018

4. On the Transactions Costs of UK Quantitative Easing
   Working Papers, Queen Mary University of London, School of Economics and Finance View citations (8)
   Also in BIS Working Papers, Bank for International Settlements (2016) View citations (7)
   See also Journal Article On the transactions costs of UK quantitative easing, Journal of Banking & Finance, Elsevier (2018) View citations (7) (2018)

2015

5. Carry Trades, Order Flow and the Forward Bias Puzzle
   Working Papers, Queen Mary University of London, School of Economics and Finance View citations (1)
   See also Journal Article Carry Trades, Order Flow, and the Forward Bias Puzzle, Journal of Money, Credit and Banking, Blackwell Publishing (2016) View citations (21) (2016)

2012

6. A Variance Decomposition of Index-Linked Bond Returns
   Working Papers, Queen Mary University of London, School of Economics and Finance View citations (1)
   See also Journal Article A variance decomposition of index-linked bond returns, Economics Letters, Elsevier (2012) View citations (1) (2012)
7. Intraday Patterns in FX Returns and Order Flow
   Working Papers, Queen Mary University of London, School of Economics and Finance
   Also in Working Papers, Swiss National Bank (2011) View citations (3)
   See also Journal Article Intraday Patterns in FX Returns and Order Flow, Journal of Money, Credit and Banking, Blackwell Publishing (2013) View citations (31) (2013)
8. The Financial Market Impact of UK Quantitative Easing
   Working Papers, Queen Mary University of London, School of Economics and Finance View citations (64)
   Also in Studies in Economics, School of Economics, University of Kent (2012) View citations (70)
   See also Chapter The financial market impact of UK quantitative easing, BIS Papers chapters, Bank for International Settlements (2012) View citations (71) (2012)
   Journal Article The financial market impact of UK quantitative easing, Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited (2012) View citations (73) (2012)
9. Unemployment A Variance Decomposition of Index-Linked Bond Returns
   Economics, Department of Economics, Central bank of Iceland

2011

10. Exchange Rate Policy in Small Rich Economies
    Working Papers, Queen Mary University of London, School of Economics and Finance View citations (2)
    Also in Economics, Department of Economics, Central bank of Iceland (2011) View citations (4)
    See also Journal Article Exchange Rate Policy in Small Rich Economies, Open Economies Review, Springer (2012) View citations (12) (2012)

2010

11. A Transaction Data Study of the Forward Bias Puzzle
    Working Paper, Norges Bank View citations (7)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (7)

2004

12. An Empirical Study of Liquidity and Information Effects of Order Flow on Exchange Rates
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (30)
    Also in Working Paper Series, European Central Bank (2004) View citations (21)
13. Out in the cold? Iceland’s trade performance outside the EU
    Economics, Department of Economics, Central bank of Iceland View citations (3)

1998

14. Electronic versus open outcry markets: The case of the Bund futures contract
    Bank of England working papers, Bank of England View citations (12)

1997

15. Testing the predictive power of dividend yields: non-parametric evidence from the G5
    Bank of England working papers, Bank of England View citations (1)
16. The Information Content of the Inflation Term Structure
    Bank of England working papers, Bank of England View citations (19)

1996

17. Bidding and Information: Evidence from Gilt-Edged Auctions
    Bank of England working papers, Bank of England View citations (1)
    See also Journal Article Bidding and Information: Evidence from Gilt-Edged Auctions, Economic Journal, Royal Economic Society (2000) View citations (8) (2000)
18. UK Asset Price Volatility Over the Last 50 Years
    Bank of England working papers, Bank of England View citations (10)
19. Why do the LIFFE and DTB bund futures contracts trade at different prices?
    Bank of England working papers, Bank of England View citations (4)

1995

20. Valuation of underwriting agreements for UK rights issues: evidence from the traded option market
    Bank of England working papers, Bank of England View citations (15)

1993

21. House prices, arrears and possessions: A three equation model for the UK
    Bank of England working papers, Bank of England View citations (23)
22. M0: Causes and Consequences
    Bank of England working papers, Bank of England View citations (18)
    See also Journal Article M0: Causes and Consequences, The Manchester School of Economic & Social Studies, University of Manchester (1996) View citations (5) (1996)

Journal Articles

2025

1. Box A: UK Inflation: The energy price surprise
   National Institute UK Economic Outlook, 2025, (18), 9-11

2023

2. Judgment day: Algorithmic trading around the Swiss franc cap removal
   Journal of International Economics, 2023, 140, (C)
   See also Working Paper Judgment Day: Algorithmic Trading Around The Swiss Franc Cap Removal, Working Papers on Finance (2019) View citations (2) (2019)
3. Summary of Quantitative Tightening and Reserves Workshop
   National Institute of Economic and Social Research (NIESR) Topical Briefings, 2023, (8)
4. The currency that came in from the cold: Capital controls and the information content of order flow
   Journal of International Money and Finance, 2023, 138, (C)
   See also Working Paper The currency that came in from the cold - Capital controls and the information content of order flow, Economics (2021) View citations (1) (2021)

2018

5. On the transactions costs of UK quantitative easing
   Journal of Banking & Finance, 2018, 88, (C), 347-356 View citations (7)
   See also Working Paper On the Transactions Costs of UK Quantitative Easing, Working Papers (2018) View citations (8) (2018)

2016

6. Carry Trades, Order Flow, and the Forward Bias Puzzle
   Journal of Money, Credit and Banking, 2016, 48, (6), 1113-1134 View citations (21)
   See also Working Paper Carry Trades, Order Flow and the Forward Bias Puzzle, Working Papers (2015) View citations (1) (2015)

2013

7. Intraday Patterns in FX Returns and Order Flow
   Journal of Money, Credit and Banking, 2013, 45, (5), 953-965 View citations (31)
   Also in Journal of Money, Credit and Banking, 2013, 45, (5), 953-965 (2013) View citations (16)
   See also Working Paper Intraday Patterns in FX Returns and Order Flow, Working Papers (2012) (2012)

2012

8. A variance decomposition of index-linked bond returns
   Economics Letters, 2012, 116, (1), 49-51 View citations (1)
   See also Working Paper A Variance Decomposition of Index-Linked Bond Returns, Working Papers (2012) View citations (1) (2012)
9. Exchange Rate Policy in Small Rich Economies
   Open Economies Review, 2012, 23, (3), 421-445 View citations (12)
   See also Working Paper Exchange Rate Policy in Small Rich Economies, Working Papers (2011) View citations (2) (2011)
10. The financial market impact of UK quantitative easing
    Oxford Review of Economic Policy, 2012, 28, (4), 702-728 View citations (73)
    See also Working Paper The Financial Market Impact of UK Quantitative Easing, Working Papers (2012) View citations (64) (2012)
    Chapter The financial market impact of UK quantitative easing, BIS Papers chapters, 2012, 65, 277-304 (2012) View citations (71) (2012)

2010

11. An empirical study of portfolio-balance and information effects of order flow on exchange rates
    Journal of International Money and Finance, 2010, 29, (3), 504-524 View citations (43)
12. Differences in beliefs and currency risk premiums
    Journal of Financial Economics, 2010, 98, (3), 415-438 View citations (57)

2007

13. Does the European Central Bank have a credibility problem?
    Economics Letters, 2007, 95, (3), 438-442 View citations (3)

2006

14. Out in the cold? Iceland's trade performance outside the European Union and European Monetary Union
    Cambridge Journal of Economics, 2006, 30, (5), 723-736 View citations (2)

2003

15. Investigating Excess Returns from Nominal Bonds
    Oxford Bulletin of Economics and Statistics, 2003, 65, (1), 73-90 View citations (6)
16. Life on the outside: economic conditions and prospects outside euroland
    (Do domestic firms benefit from foreign direct investment? Evidence from Venezuela)
    Economic Policy, 2003, 18, (37), 573-613 View citations (73)

2001

17. The Impact of Euro Notes and Coins
    CESifo Forum, 2001, 2, (03), 49-51 View citations (2)
18. Wechselkurseffekte der Einführung von Euro-Bargeld
    ifo Schnelldienst, 2001, 54, (19), 24-26

2000

19. Bidding and Information: Evidence from Gilt-Edged Auctions
    Economic Journal, 2000, 110, (466), 963-84 View citations (8)
    See also Working Paper Bidding and Information: Evidence from Gilt-Edged Auctions, Bank of England working papers (1996) View citations (1) (1996)

1999

20. Long-Term Real Interest Rates: Evidence on the Global Capital Market
    Oxford Review of Economic Policy, 1999, 15, (2), 128-42 View citations (34)

1996

21. M0: Causes and Consequences
    The Manchester School of Economic & Social Studies, 1996, 64, (4), 371-87 View citations (5)
    See also Working Paper M0: Causes and Consequences, Bank of England working papers (1993) View citations (18) (1993)

Undated

22. Fifty years of UK asset price volatility
    Journal of Risk

Chapters

2012

1. The financial market impact of UK quantitative easing
   A chapter in Threat of fiscal dominance?, 2012, vol. 65, pp 277-304 View citations (71)
   See also Journal Article The financial market impact of UK quantitative easing, Oxford University Press and Oxford Review of Economic Policy Limited (2012) View citations (73) (2012)
   Working Paper The Financial Market Impact of UK Quantitative Easing, Queen Mary University of London, School of Economics and Finance (2012) View citations (64) (2012)

2001

2. FX impact of cross-border M&A
   A chapter in Market liquidity: proceedings of a workshop held at the BIS, 2001, vol. 02, pp 267-273 View citations (2)
3. Market liquidity under stress: observations from the FX market
   A chapter in Market liquidity: proceedings of a workshop held at the BIS, 2001, vol. 02, pp 149-151 View citations (14)