The US dollar is the world's indispensable currency. The dollar's preeminent status gives the United States enormous … States wields the dollar as a weapon of foreign policy, the more its adversaries will move their international economic … analysis, the book establishes a relationship between US financial sanctions and the rise of "anti-dollar" policies, which are …

estimate a Markov switching VAR for the euro area and the US, including additionally GDP, CPI and a short-term interest rate …. We find evidence for two distinct states in both regions. For the euro area, we find a regime which is correlated to the …