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While the global financial crisis was centered in the United States, it led to a surprising appreciation in the dollar …, suggesting global dollar illiquidity. In response, the Federal Reserve partnered with other central banks to inject dollars into …. Theory consistent with dollar appreciation in the crisis suggests that their impact should be greater for countries that have …
Persistent link: https://www.econbiz.de/10009293988
Using a new database for the late 19th century, when the pound sterling circulated all over the world, this paper provides the first review of critical empirical issues in the economics of international currencies. First, we report evidence in favor of the search-theoretic approach to...
Persistent link: https://www.econbiz.de/10005791461
A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage. Authors have examined efficiency by looking at the spread of the gold points, gold point violations, the flow of gold, or by tests of various asset market criteria, including...
Persistent link: https://www.econbiz.de/10005791868
bond and note issuance it experienced significant growth in 1999 even slightly overtaking the US dollar in the second half …
Persistent link: https://www.econbiz.de/10005123910
Has the US dollar delivered the benefits that the rest of the world is expecting from its holdings of international …
Persistent link: https://www.econbiz.de/10011084062