Currency Turmoil in an Unbalanced World Economy [extrait BMI 139]

Author :
€47.39
Quantity
Add to wishlist
Out-of-Stock

  Security policy

(edit with the Customer Reassurance module)

  Delivery policy

(edit with the Customer Reassurance module)

  Return policy

(edit with the Customer Reassurance module)

Version numérique PDF

Like all asset prices, exchange rates are moved by a momentum created by alternating long phases of overvaluation and undervaluation with no stabilization at their equilibrium value. The dollar is particularly prone to these large fluctuations that regularly distort real exchange rates between major currencies. Misalignment in exchange rates is a repeated feature of dollar cycles, as much as unsustainable imbalances in the current accounts. Moreover, the appreciation phase of the dollar that has begun for several months is particularly disturbing for emerging countries that are heavily indebted in dollars. This paper studies the consequences of dollar appreciation on the world economy. The prospect of a new dollar cycle is worrisome since most countries, far from deleveraging after the financial  crisis, have massively increased their debt relative to GDP.JEL Codes: F31; F33; F42.Keywords: Dollar Cycle; High Indebtedness; International Liquidity; Exorbitant Privilege.

Auteurs :Aglietta Michel
Extrait de la revue BMI 139

BMI139-1124671
New

16 other products in the same category:

Bankers, Markets &...
  • Out-of-Stock
Availability: Out of stock

Sommaire

Articles

  • Editor’s letter
  • HFT and Market Quality
  • On the Financial Performance of Socially Responsible Investments
  • Pension Reform in The Netherlands: Attractive Options for other Countries?
  • French Pensions Framework in an International Perspective
  • Optimal Asset Allocation for Sovereign Wealth Funds: Theory and Practice
  • Asset Class Liquidity Risk
Bankers, Markets &...
  • Out-of-Stock
Availability: Out of stock

Sommaire

The Paulson Plan: Who Are the Winners?

  • A Partial Equilibrium Model of the Convenience Yield Risk Premium of Storable Commodities
  • Raising Companies’ Profi le with Corporate Social Performance
  • Does Employee Ownership Really Boost Performance?
  • Islamic Equity Indices: Insight and Comparison with Conventional Counterparts

  • Market microstructure in practice
This website uses cookies to ensure you get the best experience on our website