bilateral exchange rate volatility from 2009 to 2019. Applying an intervention analysis based on model-selection approach, we … rate volatility, but the effects vary across countries and sometimes can even be reversed. Further investigation shows that …

States, the issuer of the world's dominant currency, by causing a dollar appreciation and a transfer of wealth from the … United States to the rest of the world. This dollar appreciation runs counter to the predictions of standard macroeconomic … safe US government debt relative to foreign debt and (ii) lowered expected future inflation in the United States relative …