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The Dollar in the Turmoil

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Author Info
Agnes Benassy-Quere
Sophie Bereau
Valerie Mignon

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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.

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Publisher Info
Paper provided by CEPII research center in its series Working Papers with number 2009-08.

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Date of creation: Apr 2009
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Handle: RePEc:cii:cepidt:2009-08

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Related research
Keywords: Equilibrium exchange rate; US dollar; global imbalances; crisis; valuation effects;

Find related papers by JEL classification:
F31 - International Economics - - International Finance - - - Foreign Exchange
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data

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This page was last updated on 2009-11-18.

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