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DTSTART:20261101T020000
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DTSTART:20270314T020000
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UID:calendar.71580.field_date.0@calendar.lafayette.edu
DTSTAMP:20260821T134726Z
DESCRIPTION:Theory suggests that financial sanctions provoke targets to de-
 dollarize \nbecause they raise the risks of holding dollars. However\, san
 ctions can also \ncause target state currencies to depreciate\, which shou
 ld increase demand for \ndollars within those countries. This study examin
 es how sanctions influence \nindividuals’ desire for saving in foreign exc
 hange (FX) like US dollars or \neuros. To do so\, we draw on data from eig
 ht nationally representative surveys \nof Russian citizens before and afte
 r the imposition of Western sanctions in \nFebruary 2022. We find that Rus
 sians’ preference for holding FX \ndramatically decreased after sanctions 
 were imposed and that the fall in FX \ndemand was most pronounced among we
 althy Russians. A follow-up survey \nexperiment further indicates that the
  drop in FX demand among wealthy \nRussians was driven by concerns about W
 estern sanctions themselves rather \nthan a response to the Russian govern
 ment’s repressive FX policies. These \nresults\, which are consistent with
  the growing literature linking sanctions \nto de-dollarization\, provide 
 unique micro-level evidence from a high-profile \nsanctions’ episode\, rev
 ealing how sanctions alter economic \npreferences within targeted states\,
  across different groups within society.
DTSTART;TZID=America/New_York:20260828T120000
DTEND;TZID=America/New_York:20260828T131500
LAST-MODIFIED:20260819T154713Z
LOCATION:Simon 300
SUMMARY:Economics Seminar - 'Dollars Don’t Make Sense: How Russian Savers R
 esponded \nto Sanctions'
URL;TYPE=URI:https://calendar.lafayette.edu/node/71580
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