Is it beneficial for a country''s currency to be used internationally? And, if so, can we quantify the benefit? Since the emergence of the euro, there has been great interest in the consequences of a transfer of the US dollar''s premier international role to the euro. Building on recent...

Is it beneficial for a country's currency to be used internationally? And, if so, can we quantify the benefit? Over the last 60 years or so, the US dollar has held the dominant position as the main medium of exchange in international transactions - i.e., as international money. Since the...