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Le dollar à l’épreuve de la crise financière

Author

Listed:
  • Matthieu Bussière
  • Magali Gilliot
  • Vincent Grossmann-Wirth

Abstract

The widening US current account deficit in the 2000?s and the fact that the financial crisis started in the United-States suggested a further depreciation of the US currency. Seven years after the collapse of Lehman Brothers, the dollar has however reached a ten-year high in effective terms. While the most recent bout of appreciation is related to different positions in the business cycle, the overall strength of the dollar since the beginning of the financial crisis is also due to the safe haven status of the US currency. The dollar has indeed remained predominant in the international monetary system, as shown by the share of the dollar in foreign reserve holdings, international payments or debt issuance, in advanced countries as well as in emerging economies. Classification JEL: E58, F31, F33, G01.

Suggested Citation

  • Matthieu Bussière & Magali Gilliot & Vincent Grossmann-Wirth, 2015. "Le dollar à l’épreuve de la crise financière," Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 35-54.
    • Handle: RePEc:cai:refaef:ecofi_119_0035
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    Cited by:

    1. Jacques Mistral & Natacha Valla, 2015. "Introduction," Revue d'économie financière, Association d'économie financière, vol. 0(3), pages 11-16.

    More about this item

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • G01 - Financial Economics - - General - - - Financial Crises

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