The Dollar Position of the Non-U.S. Private Sector, Portfolio Effects, and the Exchange Rate of the Dollar

Bixio Barenco

No 76, OECD Economics Department Working Papers from OECD Publishing

Abstract: This paper measures the net dollar position of the non-U.S. private sector and a few other international positions -- notably the net foreign-currency position of the U.S. private sector. These currency positions provide the basis for a discussion of portfolio effects which are especially relevant for questions related to the future financing of U.S. current-account deficits. A special feature of this exercise is the explicit identification of the non-U.S. public sector as a potential source of dollar assets for the non-U.S. private sector ... Cette étude mesure la position nette en dollars du secteur privé hors Etats-Unis ansi que d'autres positions internationales, notamment la position nette en devises étrangères du secteur privé des Etats-Unis. Ces positions en devises servent de base à une discussion sur les effets de portefeuilles qui sont spécialement importants dans les questions relatives au financement futur des déficits de la balance courante americaine. Une particularité essentielle de cette analyse est l'identification explicite du secteur public hors Etats-Unis comme source potentielle d'avoirs en dollars du secteur privé hors Etats-Unis ...

Date: 1990-02-01
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Persistent link: https://EconPapers.repec.org/RePEc:oec:ecoaaa:76-en

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