Stavrakeva, Vania; Tang, Jenny - 2018 - This version: October, 2018
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 …