"This paper summarizes recent developments in the theory and practice of monetary policy in a closed economy and explains what these developments mean for U.S. dollar policy. There is no conflict between what is appropriate U.S. monetary policy at home or abroad because the dollar is the world's...

The response in 2008-09 to the global financial crisis was in many ways a high water mark for transatlantic policy coordination. The major economies of the EU and the US rapidly agreed on a series of measures to limit the crisis. However, the common approach has since unraveled. This paper...