A strong U.S. dollar reflects economic and political strength for the United States. But a new study published in the Brookings Papers on Economic Activity illustrates how a strong dollar might not be good for other countries, especially emerging and developing markets. On this episode of the Brookings Podcast on Economic Activity, Brookings Senior Fellow Gian Maria Milesi-Ferretti interviews the authors of that study, Maurice Obstfeld of UC Berkeley and Haonan Zhou of Princeton University. Obstfeld and Zhou explain what’s driving the stronger dollar, why it might hurt emerging markets, and policies those emerging markets can use to become more resilient to dollar appreciation shocks.
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Authors
Commentary
PodcastWill a strong dollar hurt emerging markets?
Gian Maria Milesi-Ferretti,
Gian Maria Milesi-Ferretti
Senior Fellow
- Economic Studies, The Hutchins Center on Fiscal and Monetary Policy
Maurice Obstfeld,
Maurice Obstfeld
Professor of Economics
- University of California, Berkeley
Haonan Zhou,
Haonan Zhou
PhD student
- Princeton University
@Haonan_Zhou
Janice C. Eberly, and
Janice C. Eberly
Nonresident Senior Fellow
- Economic Studies
James Stock
James Stock
Nonresident Senior Fellow
- Economic Studies, Center on Regulation and Markets
October 18, 2022