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The dollar in the turmoil

Author

Listed:
  • Agnès Bénassy-Quéré

    (CEPII - Centre d'Etudes Prospectives et d'Informations Internationales - Centre d'analyse stratégique, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Valérie Mignon

    (CEPII - Centre d'études prospectives et d'informations internationales)

  • Sophie Béreau

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.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Agnès Bénassy-Quéré & Valérie Mignon & Sophie Béreau, 2009. "The dollar in the turmoil," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00634793, HAL.
    • Handle: RePEc:hal:cesptp:hal-00634793
    DOI: 10.1016/j.jjie.2009.06.001
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    Cited by:

    1. is not listed on IDEAS
    2. Robert N McCauley & Patrick McGuire, 2009. "Dollar appreciation in 2008: safe haven, carry trades, dollar shortage and overhedging," BIS Quarterly Review, Bank for International Settlements, December.

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    Keywords

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    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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