, euro area and UK data points to a substantial deviation from that invariance prediction: expectations of interest rate …

The U.S. dollar holds a dominant place in the invoicing of international trade, along two complementary dimensions …

. Their annual dollar-weighted returns, measured by IRRs, are around 3% lower than a buy-and-hold strategy over the same … dollar assets, which provide them with convenience services …

comprehensive estimate of foreign investors' U.S. dollar (USD) security holdings and currency hedging practices. We document four … banking sector provides limited dollar hedging on net, underscoring the important role non-banks play in fulfilling the …

dollar currencies, and the other the European currencies. A factor model incorporating this "clustering" factor and two …

article, we provide evidence suggesting a recent rise in the use of the dollar, and fall of the use in the euro, with similar …

foreign currencies, especially in the US dollar, exhibiting a lower pass-through of the euro-destination exchange rate and a … pronounced sensitivity to the dollar-destination exchange rate. The effects of foreign-currency price stickiness are still …

Using tick-by-tick data of the dollar-yen and euro-dollar exchange rates recorded in the actual transaction platform, a …

The euro has arisen as a credible eventual competitor to the dollar as leading international currency, much as the … the de facto financial center of the euro, more so than Frankfurt. We also assume that the dollar continues in the future … dollar rose to challenge the pound 70 years ago. This paper uses econometrically-estimated determinants of the shares of …