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Understanding the Strength of the Dollar / Zhengyang Jiang, Robert J. Richmond, Tony Zhang.
- Format:
- Book
- Author/Creator:
- Jiang, Zhengyang.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w30558.
- NBER working paper series no. w30558
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2022.
- Summary:
- We link the sustained appreciation of the U.S. dollar from 2011 to 2019 to international capital flows driven by primitive economic factors. We show that increases in foreign investors' net savings, increases in U.S. monetary policy rates relative to the rest of the world, and shifts in investor demand for U.S. financial assets contributed approximately equally to the dollar's appreciation. We then quantify the impact of potential future demand shifts for U.S. assets on the value of the dollar.
- Notes:
- Print version record
- October 2022.
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