Facing a shortage of U.S. dollars and a growing need to support their dollar-denominated assets during the financial … analysis of the ensuing strains in the swap market shows that the dollar "basis"--the premium international institutions pay … for dollar funding--became persistently large and positive, chiefly as a result of the higher funding costs paid by …

The U.S. dollar plays a key role in international trade invoicing along two complementary dimensions. First, most U …

depreciation of the dollar, as stressed in research by Obstfeld and Rogoff. We assess how the adjustment is affected by the high … not matched. In particular, a dollar depreciation generates valuation gains for the United States by boosting the dollar …. Intuitively, the valuation gains from the depreciation of the dollar allow the United States to finance ongoing, albeit shrinking …

debt contracts. With the creation of the euro, the dollar may finally face a challenge to its dominance in international … markets. This article examines the likely effects of the euro on the international use of the dollar. Moreover, the article …Through the post-World War II period, the U.S. dollar has been the leading currency used in international trade and …

The inquiry into the global significance of the euro, which is the second most important currency in the international … financial system after the US dollar (hereinafter, the dollar), should be treated as a priority in efforts to strengthen the EU …’s strategic autonomy. The main obstacles impeding the further internationalisation of the euro include the lack of a sovereign …