The Dollar in the Turmoil

Sophie Bereau; Agnès Bénassy-Quéré; Valérie Mignon

doi:10.1016/j.jjie.2009.06.001

The Dollar in the Turmoil

Sophie Bereau
, Agnès Bénassy-Quéré
, Valérie Mignon

Résultats de recherche: Contribution à un journal/une revue › Article › Revue par des pairs

Résumé

We study the impact of the global financial crisis on the equilibrium exchange rate of the US dollar. We first simulate the impact of the crisis on the US net foreign asset position. Then, we calculate the equilibrium value of the dollar according both to a BEER and to a FEER approach. We find the case for a strong, although temporary, depreciation of the dollar even more acute than before the crisis. This suggests that the strength of the dollar in late 2008 and early 2009 may be short-lived.

langue originale	Anglais
Pages (de - à)	427-436
Nombre de pages	10
journal	Journal of the Japanese and International Economies
Volume	23
Numéro de publication	4
Les DOIs	https://doi.org/10.1016/j.jjie.2009.06.001
Etat de la publication	Publié - 2009

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10.1016/j.jjie.2009.06.001

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title = "The Dollar in the Turmoil",

abstract = "We study the impact of the global financial crisis on the equilibrium exchange rate of the US dollar. We first simulate the impact of the crisis on the US net foreign asset position. Then, we calculate the equilibrium value of the dollar according both to a BEER and to a FEER approach. We find the case for a strong, although temporary, depreciation of the dollar even more acute than before the crisis. This suggests that the strength of the dollar in late 2008 and early 2009 may be short-lived.",

keywords = "Equilibrium exchange rate, Global imbalancesCrisis, Valuation effects",

author = "Sophie Bereau and Agn{\`e}s B{\'e}nassy-Qu{\'e}r{\'e} and Val{\'e}rie Mignon",

year = "2009",

doi = "10.1016/j.jjie.2009.06.001",

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AU - Bénassy-Quéré, Agnès

AU - Mignon, Valérie

PY - 2009

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AB - We study the impact of the global financial crisis on the equilibrium exchange rate of the US dollar. We first simulate the impact of the crisis on the US net foreign asset position. Then, we calculate the equilibrium value of the dollar according both to a BEER and to a FEER approach. We find the case for a strong, although temporary, depreciation of the dollar even more acute than before the crisis. This suggests that the strength of the dollar in late 2008 and early 2009 may be short-lived.

KW - Equilibrium exchange rate

KW - Global imbalancesCrisis

KW - Valuation effects

U2 - 10.1016/j.jjie.2009.06.001

DO - 10.1016/j.jjie.2009.06.001

M3 - Article

SN - 0889-1583

VL - 23

SP - 427

EP - 436

JO - Journal of the Japanese and International Economies

JF - Journal of the Japanese and International Economies

IS - 4

ER -

The Dollar in the Turmoil

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