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The Us Dollar
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Book Synopsis The Dollar Trap by : Eswar S. Prasad
Download or read book The Dollar Trap written by Eswar S. Prasad and published by Princeton University Press. This book was released on 2015-08-25 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance. The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.
Book Synopsis The Global Currency Power of the US Dollar by : Anthony Elson
Download or read book The Global Currency Power of the US Dollar written by Anthony Elson and published by Springer Nature. This book was released on 2021-09-15 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. The book provides an analysis of the main factors that have given rise to the global currency power of the dollar and the key benefits that have accrued to both the United States and other countries from this arrangement. It then considers the growing costs that can be associated with the dollar-centered reserve system and the prospects for the medium-term in terms of its potential threats to global financial stability. In the light of these considerations, the book examines three alternative currency arrangements that could address some or all of the defects associated with the global currency power of the dollar. These include a shift to a multi-reserve currency system, an enhancement of the IMF’s role as an international lender of last resort and provider of global “safe” assets, and the introduction of central bank digital currencies. "A cogent, persuasive and timely look at the dollar's power." Kirkus Reviews
Book Synopsis The Little Book of the Shrinking Dollar by : Addison Wiggin
Download or read book The Little Book of the Shrinking Dollar written by Addison Wiggin and published by John Wiley & Sons. This book was released on 2012-04-11 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the weakening dollar a hot topic for retirees, savers, and investors, this Little Book delves into the economic turmoil in the U.S. and shows how to survive it The United States dollar is losing value at an alarming rate. According to the Organisation for Economic Co-operation and Development (OECD) index, the U.S. currency is 37 percent below fair value against the Australian dollar and 20 percent versus the Canadian dollar. The decline of the U.S. dollar is one of the biggest threats facing American investors today, but with the Little Book of the Shrinking Dollar: What You Can do to Protect Your Money Now in hand, you have the knowledge and the expertise you need to fight back. Written by New York Times bestselling author Addison Wiggin, a leading economic forecaster, the book explores the reasons for the dollar's decline, and its precarious relationship to other currencies around the world. Filled with invaluable strategies for retirees, savers, and investors who want to keep their money safe no matter what lies ahead, the book is your one-stop guide to weathering the storm. Covers strategies for safeguarding your wealth, including safer havens for money, alternative investments, and other opportunities Written by Addison Wiggin, a three-time New York Times bestselling author and leading economic forecaster Wiggin's predictions about the decline of the dollar have proven true time and again, making him the right man for the job when it comes to predicting what lies ahead The U.S. dollar is no longer the secure and stable currency that most Americans grew up believing in. Even after recent gains, the dollar remains weak. But with the Little Book of the Shrinking Dollar you have a concise guide to what's driving its demise and everything you need to protect your money today and in the years to come.
Book Synopsis The Future of the Dollar by : Eric Helleiner
Download or read book The Future of the Dollar written by Eric Helleiner and published by Cornell University Press. This book was released on 2012-09-15 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. In recent years, however, the dollar's preponderant position in world markets has come under challenge. The dollar has been more volatile than ever against foreign currencies, and various nations have switched to non-dollar instruments in their transactions. China and the Arab Gulf states continue to hold massive amounts of U.S. government obligations, in effect subsidizing U.S. current account deficits, and those holdings are a point of potential vulnerability for American policy. What is the future of the U.S. dollar as an international currency? Will predictions of its demise end up just as inaccurate as those that have accompanied major international financial crises since the early 1970s? Analysts disagree, often profoundly, in their answers to these questions. In The Future of the Dollar, leading scholars of dollar's international role bring multidisciplinary perspectives and a range of contrasting predictions to the question of the dollar's future. This timely book provides readers with a clear sense of why such disagreements exist and it outlines a variety of future scenarios and the possible political implications for the United States and the world.
Book Synopsis Exorbitant Privilege by : Barry Eichengreen
Download or read book Exorbitant Privilege written by Barry Eichengreen and published by Oxford University Press. This book was released on 2011-01-07 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is, as a critic of U.S.
Book Synopsis Money: How the Destruction of the Dollar Threatens the Global Economy – and What We Can Do About It by : Steve Forbes
Download or read book Money: How the Destruction of the Dollar Threatens the Global Economy – and What We Can Do About It written by Steve Forbes and published by McGraw Hill Professional. This book was released on 2014-06-06 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why a return to sound money is our only hope for a true recovery and a healthy global economy “Money clearly illustrates that sound money is an essential foundation for a free and prosperous society and that the Federal Reserve’s current policies are a greater threat to the economic future of the U.S. than government deficit spending. This is an important book well worth reading.” -- John A. Allison, President and CEO, Cato Institute, and author of the New York Times bestselling The Financial Crisis and the Free Market Cure “Few topics today are as misunderstood as the subject of money. Steve Forbes understands money better than most heads of state do, and in this provocative book he shares his vast knowledge and gives us sensible and time-tested recommendations for stopping future financial meltdowns.” -- Lawrence Kudlow, CNBC Senior Contributor “Economic and monetary policies can be difficult to master for even the savviest politicians. Money effectively communicates these complexities into a cohesive argument for economic recovery and preventing a new financial crisis. Steve Forbes and Elizabeth Ames deliver a gripping read and an intriguing viewpoint on how to get our economy back on track.” --Greta Van Susteren, host of On the Record, Fox News Channel Few topics are as misunderstood today as the subject of money. Since the U.S. abandoned a gold-linked dollar more than four decades ago, the world’s governments have slid into a dangerous ignorance of the fundamental monetary principles that guided the world’s most successful economies for centuries. Today’s wrong-headed monetary policies are now setting the stage for a new global economic and social catastrophe that could rival the recent financial crisis and even the horrors of the 1930s. Coauthored by Steve Forbes, one of the world’s leading experts on finance, Money shows you why that doesn’t need to happen--and how to prevent it. After reading this entertaining and hugely well-informed book, you will know more about money than most people in the highest government positions today. Money explains why a return to sound money is absolutely essential if the U.S. and other nations are ever to overcome today’s problems. Stable money, Steve Forbes and Elizabeth Ames argue, is the only way to a true recovery and a stable and prosperous economy. Today’s system of fluctuating “fiat” money, in which governments manipulate the value of the dollar and other currencies, has been responsible for the biggest economic failures of recent decades, including the 2008 financial crisis, from whose effects we continue to suffer. The Obama/Bernanke/Yellen Federal Reserve and its unstable dollar policies are accelerating our course toward disaster, the authors show, in numerous convincing examples. In Money, Forbes and Ames answer these crucial questions: What is the difference between money and value? What is real wealth? How does sound money contribute to a well-functioning society? How have our money policy errors led to the current problems in global financial markets? What can we do now to reestablish the strength of the dollar and other currencies? The authors argue that the most effective way to return to a sound money policy and a healthy economy is to put the dollar back on a gold standard, and they outline the several different forms a gold standard could take. They also share invaluable suggestions for how to preserve our wealth and where to invest our money. Money is essential reading for anyone interested in this crucially important subject.
Book Synopsis Making Sense of the Dollar by : Marc Chandler
Download or read book Making Sense of the Dollar written by Marc Chandler and published by Bloomberg Press. This book was released on 2010-05-18 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Has the greenback really lost its preeminent place in the world? Not according to currency expert Marc Chandler, who explains why so many are—wrongly—pessimistic about both the dollar and the U.S. economy. Making Sense of the Dollar explores the many factors—trade deficits, the dollar’s role in the world, globalization, capitalism, and more—that affect the dollar and the U.S. economy and lead to the inescapable conclusion that both are much stronger than many people suppose. Marc Chandler has been covering the global capital markets for twenty years as a foreign exchange strategist for several Wall Street firms. He is one of the most widely respected and quoted currency experts today.
Book Synopsis Biography of the Dollar by : Craig Karmin
Download or read book Biography of the Dollar written by Craig Karmin and published by Crown Business. This book was released on 2009 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the green-back's history, allure, and unique role as a catalyst for globalization, and how the American buck became so almighty that $ became perhaps the most powerful symbol on earth. But will the buck be eclipsed by the euro or even China's renminbi? Should Americans worry when the value of the mighty U.S. dollar sinks to par with the Canadian "loonie"?--From publisher's description
Book Synopsis Global Trade and the Dollar by : Ms.Emine Boz
Download or read book Global Trade and the Dollar written by Ms.Emine Boz and published by International Monetary Fund. This book was released on 2017-11-13 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis How Global Currencies Work by : Barry Eichengreen
Download or read book How Global Currencies Work written by Barry Eichengreen and published by Princeton University Press. This book was released on 2019-02-26 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the history of the modern global economy seems to support the long-held view that the currency of the world’s leading power invariably dominates international trade and finance. But in How Global Currencies Work, three noted economists overturn this conventional wisdom. Offering a new history of global finance over the past two centuries and marshaling extensive new data to test current theories of how global currencies work, the authors show that several national monies can share international currency status—and that their importance can change rapidly. They demonstrate how changes in technology and international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. In fact, they show that multiple international and reserve currencies have coexisted in the past—upending the traditional view of the British pound’s dominance before 1945 and the U.S. dollar’s postwar dominance. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, including how increased currency competition might affect global financial stability.
Book Synopsis The Unloved Dollar Standard by : Ronald I. McKinnon
Download or read book The Unloved Dollar Standard written by Ronald I. McKinnon and published by Oxford University Press. This book was released on 2013 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Th world dollar standard greatly facilitates international exchange. Since the Bretton Woods Agreement of 1945, the dollar has been the key currency for clearing international payments among banks, including government interventions to set exchange rates. IT is the dominant currency for invoicing trade in primary commodities and official exchange reserves.
Download or read book Gaining Currency written by Eswar Prasad and published by Oxford University Press. This book was released on 2017 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's currency, the renminbi, has taken the world by storm. This book documents the renminbi's impressive rise to global prominence in a short period but also shows how much further it has to go before becoming a major international currency. The hype about its inevitable ascendance to global dominance is overblown.
Book Synopsis The United States in the World Economy by : Anthony Elson
Download or read book The United States in the World Economy written by Anthony Elson and published by Springer. This book was released on 2019-06-17 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assesses the impact of globalization on the US economy from the perspective of international trade, finance, and immigration, with a view to eliminating misinformation in the current public debate about the costs and benefits of globalization. The United States has played a key role in the development of economic and financial globalization since the end of World War II and has been the largest force for integration of the global economy. While the US economy as a whole has been a net beneficiary from globalization, significant costs have been incurred by certain groups and communities as a result of its effects. This book evaluates the benefits, costs, and impact on income distribution for the United States in the areas of international trade, finance, and immigration, drawing on key findings of the relevant literature. A key argument of this book is that the US economy has been a significant net beneficiary from globalization, but that the government needs to do more for those workers negatively impacted by its effects. This book ends by proposing key institutional reforms at the national and international level that would foster further gains from globalization and create a more equal distribution of its benefits.
Book Synopsis Currency Statecraft by : Benjamin J. Cohen
Download or read book Currency Statecraft written by Benjamin J. Cohen and published by University of Chicago Press. This book was released on 2018-11-15 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: At any given time, a limited number of national currencies are used as instruments of international commerce, to settle foreign trade transactions or store value for investors and central banks. How countries whose currencies gain international appeal choose to use this status forms their strategy of currency statecraft. In different circumstances, issuing governments may welcome and promote the internationalization of their currency, tolerate it, or actively oppose it. Benjamin J. Cohen offers a provocative explanation of the strategic policy choices at play. In a comprehensive review that ranges from World War II to the present, Cohen convincingly argues that one goal stands out as the primary motivation for currency statecraft: the extent of a country’s geopolitical ambition, or how driven it is to build or sustain a prominent place in the international community. When a currency becomes internationalized, it generally increases the power of the nation that produces it. In the persistent contestation that characterizes global politics, that extra edge can matter greatly, making monetary rivalry an integral component of geopolitics. Today, the major example of monetary rivalry is the emerging confrontation between the US dollar and the Chinese renminbi. Cohen describes how China has vigorously promoted the international standing of its currency in recent years, even at the risk of exacerbating relations with the United States, and explains how the outcome could play a major role in shaping the broader geopolitical engagement between the two superpowers.
Book Synopsis The Future of Global Currency by : Benjamin J. Cohen
Download or read book The Future of Global Currency written by Benjamin J. Cohen and published by Routledge. This book was released on 2012-11-12 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can the euro challenge the supremacy of the U.S. dollar as a global currency? From the time Europe’s joint money was born, many have predicted that it would soon achieve parity with the dollar or possibly even surpass it. In reality, however, the euro has remained firmly planted in the dollar’s shadow. The essays collected in this volume explain why. Because of America’s external deficits and looming foreign debt, the dollar can never be as dominant as it once was. But Europe’s money is unable to mount an effective challenge. The euro suffers from a number of critical structural deficiencies, including an anti-growth bias that is built into the institutions of the monetary union and an ambiguous governance structure that sows doubts among prospective users. As recent events have demonstrated, members of the euro zone remain vulnerable to financial crisis. Moreover, lacking a single voice, the bloc continues to punch below its weight in monetary diplomacy. The world seems headed toward a leaderless monetary order, with several currencies in contention but none clearly dominant. This collection distils the views of one of the world’s leading scholars in global currency, and will be of considerable interest to students and scholars of international finance and international political economy.
Book Synopsis Pragmatic Capitalism by : Cullen Roche
Download or read book Pragmatic Capitalism written by Cullen Roche and published by Macmillan. This book was released on 2014-07-08 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: An insightful and original look at why understanding macroeconomics is essential for all investors
Download or read book Money written by Jacob Goldstein and published by Hachette Books. This book was released on 2020-09-08 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The co-host of the popular NPR podcast Planet Money provides a well-researched, entertaining, somewhat irreverent look at how money is a made-up thing that has evolved over time to suit humanity's changing needs. Money only works because we all agree to believe in it. In Money, Jacob Goldstein shows how money is a useful fiction that has shaped societies for thousands of years, from the rise of coins in ancient Greece to the first stock market in Amsterdam to the emergence of shadow banking in the 21st century. At the heart of the story are the fringe thinkers and world leaders who reimagined money. Kublai Khan, the Mongol emperor, created paper money backed by nothing, centuries before it appeared in the west. John Law, a professional gambler and convicted murderer, brought modern money to France (and destroyed the country's economy). The cypherpunks, a group of radical libertarian computer programmers, paved the way for bitcoin. One thing they all realized: what counts as money (and what doesn't) is the result of choices we make, and those choices have a profound effect on who gets more stuff and who gets less, who gets to take risks when times are good, and who gets screwed when things go bad. Lively, accessible, and full of interesting details (like the 43-pound copper coins that 17th-century Swedes carried strapped to their backs), Money is the story of the choices that gave us money as we know it today.
