This book explains how the US dollar serves as the primary reserve currency for the international financial system and assesses its prospects for the future. Th

Why the dollar is—and will remain—the dominant global currency The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial syste

This volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982. In it, the world's most respected

For half a century, the United States has garnered substantial political and economic benefits as a result of the dollar's de facto role as a global currency. I

We document that the U.S. dollar exchange rate drives global trade prices and volumes. Using a newly constructed data set of bilateral price and volume indices