The Economics Of The Dollar Cycle

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The Economics Of The Dollar Cycle

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Author : Stefan Gerlach
language : en
Publisher: MIT Press (MA)
Release Date : 1990

The Economics Of The Dollar Cycle written by Stefan Gerlach and has been published by MIT Press (MA) this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Foreign exchange categories.

Using the dollar as a fulcrum, the original essays in this book discuss the causes of the dramatic shifts in the dollar's exchange value during the past decade and the effect of these fluctuations on the economies of the United States, Japan, Europe, and the developing nations, as well as its impact on theories of international economics.

The Global Dollar Cycle

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Author : Maurice Obstfeld
language : en
Publisher:
Release Date : 2023

The Global Dollar Cycle written by Maurice Obstfeld and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.

The U.S. dollar's nominal effective exchange rate closely tracks global financial conditions, which themselves show a cyclical pattern. Over that cycle, world asset prices, leverage, and capital flows move in concert with global growth, especially influencing the fortunes of emerging and developing economies (EMDEs). This paper documents that dollar appreciation shocks predict economic downturns in EMDEs and highlights policies countries could implement to dampen the effects of dollar fluctuations. Dollar appreciation shocks themselves are highly correlated not just with tighter U.S. monetary policies, but also with measures of U.S. domestic and international dollar funding stress that themselves reflect global investors' risk appetite. After the initial market panic and upward dollar spike at the start of the COVID-19 pandemic, the dollar fell as global financial conditions eased; but the higher inflation that followed has induced central banks everywhere to tighten monetary policies more recently. The dollar has strengthened considerably since mid-2021 and a contractionary phase of the global financial cycle is now under way. Owing to increases in public- and business-sector debts during the pandemic, a strong dollar, higher interest rates, and slower economic growth will be challenging for EMDEs.

Dilemmas Of The Dollar

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Author : C. Fred Bergsten
language : en
Publisher: M.E. Sharpe
Release Date : 1996

Dilemmas Of The Dollar written by C. Fred Bergsten and has been published by M.E. Sharpe this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.

An examination of the role of the dollar in the global financial system which presents a long-term historical perspective on the international monetary system in this century. The main focus is on the evaluation of the global financial system in the post-war period.

Dollar Trinity And The Global Financial Cycle

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Author : Georgios Georgiadis
language : en
Publisher:
Release Date : 2023

Dollar Trinity And The Global Financial Cycle written by Georgios Georgiadis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.

We develop a two-country business-cycle model of the US and the rest of the world with dollar dominance in trade invoicing, in cross-border credit, and in safe assets. The interplay between these elements - dollar trinity - rationalizes salient features of the Global Financial Cycle in the data: When its tide subsides, the dollar appreciates, financial conditions tighten, the world business cycle slows down, and emerging-market central banks face a trade-off between mitigating the recession and dampening price pressures. We find the dollar is no sideshow in this, but central for the transmission of the Global Financial Cycle to the world economy.

The Great Super Cycle

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Author : David Skarica
language : en
Publisher: John Wiley & Sons
Release Date : 2010-10-15

The Great Super Cycle written by David Skarica and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-15 with Business & Economics categories.

The United States has a problem – a big problem. Due to costs associated with the massive bailout of financial institutions deemed "too big to fail," on-going armed conflicts, and a move towards socialism, another even bigger bubble is about to burst – the debt bubble. The Great Super Cycle: Profit from the Coming Inflation Tidal Wave and Dollar Devaluation is an intriguing look at the relationship between Washington and Wall Street; the history of political shifts in power and how those shifts influenced the global economy; and, the ways investors can profit as economies move away from U.S. dollar and debt. The book: Discusses how a socialist America will result in the U.S. economy becoming far less competitive, while causing funds to move offshore Details how investors can profit by investing in gold, oil, and Asian markets Explains major cyclical movements from the mega cycle of world power to stock market cycles which last 10-20 years. As the United States begins to deal with its massive debt bubble, The Great Super Cycle just might prove the most powerful tool an investor has for making money in the turbulent years to come.

Speculation And The Dollar

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Author : Laurence Krause
language : en
Publisher: Routledge
Release Date : 2019-07-11

Speculation And The Dollar written by Laurence Krause and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-11 with Political Science categories.

I began serious consideration of the issues and subject matter that comprise this book as a graduate student at the University of Massachusetts at Amherst. In need of a dissertation topic and vaguely curious about international monetary economics, I decided to sit in on Leonard Rapping's undergraduate course on international finance. Needless to say, I was soon hooked. Within several months I was teaching my own course on international money and beginning to write an outline of what would become my doctoral dissertation on foreign exchange speculation. Once completed the dissertation thesis became this basis for this book.

Dollar Invoicing Global Value Chains And The Business Cycle Dynamics Of International Trade

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Author : Mr. David Cook
language : en
Publisher: International Monetary Fund
Release Date : 2022-02-11

Dollar Invoicing Global Value Chains And The Business Cycle Dynamics Of International Trade written by Mr. David Cook and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-11 with Business & Economics categories.

Recent literature has highlighted that international trade is mostly priced in a few key vehicle currencies and is increasingly dominated by intermediate goods and global value chains (GVCs). Taking these features into account, this paper reexamines the relationship between monetary policy, exchange rates and international trade flows. Using a dynamic stochastic general equilibrium (DSGE) framework, it finds key differences between the response of final goods and GVC trade to both domestic and foreign shocks depending on the origin and ultimate destination of value added and the intermediate shipments involved. For example, the model shows that in response to a dollar appreciation triggered by a US interest rate increase, direct bilateral trade between non-US countries contracts more than global value chain oriented trade which feeds US final demand, and exports to the US decline much more when measured in gross as opposed to value added terms. We use granular data on GVCs at the sector level to document empirical evidence in favor of these key predictions of the model.

The Creation And Destruction Of Value

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Author : Harold James
language : en
Publisher: Harvard University Press
Release Date : 2012-10-22

The Creation And Destruction Of Value written by Harold James and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-22 with Business & Economics categories.

Harold James examines the vulnerability and fragility of processes of globalization, both historically and in the present. This book applies lessons from past breakdowns of globalization—above all in the Great Depression—to show how financial crises provoke backlashes against global integration: against the mobility of capital or goods, but also against flows of migration. By a parallel examination of the financial panics of 1929 and 1931 as well as that of 2008, he shows how banking and monetary collapses suddenly and radically alter the rules of engagement for every other type of economic activity. Increased calls for state action in countercyclical fiscal policy bring demands for trade protection. In the open economy of the twenty-first century, such calls are only viable in very large states—probably only in the United States and China. By contrast, in smaller countries demand trickles out of the national container, creating jobs in other countries. The international community is thus paralyzed, and international institutions are challenged by conflicts of interest. The book shows the looming psychological and material consequences of an interconnected world for people and the institutions they create.

Global Trade And The Dollar

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Author : Ms.Emine Boz
language : en
Publisher: International Monetary Fund
Release Date : 2017-11-13

Global Trade And The Dollar written by Ms.Emine Boz and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-13 with Business & Economics categories.

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 for more than 2,500 country pairs, we establish the following facts: 1) The dollar exchange rate quantitatively dominates the bilateral exchange rate in price pass-through and trade elasticity regressions. U.S. monetary policy induced dollar fluctuations have high pass-through into bilateral import prices. 2) Bilateral non-commodities terms of trade are essentially uncorrelated with bilateral exchange rates. 3) The strength of the U.S. dollar is a key predictor of rest-of-world aggregate trade volume and consumer/producer price inflation. A 1 percent U.S. dollar appreciation against all other currencies in the world predicts a 0.6–0.8 percent decline within a year in the volume of total trade between countries in the rest of the world, controlling for the global business cycle. 4) Using a novel Bayesian semiparametric hierarchical panel data model, we estimate that the importing country’s share of imports invoiced in dollars explains 15 percent of the variance of dollar pass-through/elasticity across country pairs. Our findings strongly support the dominant currency paradigm as opposed to the traditional Mundell-Fleming pricing paradigms.

The Business Cycle Largely A Dance Of The Dollar

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Author : Irving Fisher
language : en
Publisher:
Release Date : 1923

The Business Cycle Largely A Dance Of The Dollar written by Irving Fisher and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1923 with Economics categories.