The Exhaustion of the Dollar

Its Implications for Global Prosperity

By: H. Gray

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Paperback | 18 April 2006 | Edition Number 1

At a Glance

Paperback
248 Pages

Edition Type
New edition

Dimensions(cm)
21.5 x 16.3 x 1.3

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The U.S. dollar has served as the key currency of the international economic/financial system for over fifty years. This study assesses the proposition that the series of U.S. current-account deficits over the last twenty years will shortly exhaust the capability of the dollar to continue as the key currency. The evidence in support of the proposition is strong. The implications of exhaustion will be serious and need to be addressed quickly.

Industry Reviews

'Peter Gray presents a succinct story about the decline and fall of the U.S. dollar as a reserve currency, and the problems of developing an alternative arrangement that would facilitate international payments. Gray sketches the transition problem associated with the decline from a U.S. external payments position characterized by a current account deficit of six percent of GDP to a much smaller sustainable value.' - Robert Z. Aliber, Professor of International Economics and Finance Emeritus, Graduate School of Business, University of Chicago, USA

'In this study of the role of the US dollar within the global economic system, Peter Gray provides a masterly account, which should be of interest to academic economists and policy-makers alike. It is particularly timely to have such a thorough analysis of the logic of, and latest developments in, the international monetary system, whose reliance on one key currency creates such systemic problems.' - Sheila C. Dow, Department of Economics, University of Stirling, UK

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You Can Find This Book In

Non-Fiction Economics Macroeconomics Monetary Economics Economic Systems & Structures Miscellaneous Items Accounting & Finance Finance Banking International Economics International Finance Corporate Finance

Microeconomics Business & Management International Business

Preface to the Paperback
Foreword
Introduction
The Purpose and Three Propositions
How a Hegemonic System Works
Background Concepts and Relationships in a Globalized World
A Theory of Balance-of-Payments Adjustment for the Hegemon
A Model of Instability in Asset Markets
Exhaustion: Soft, Hard or Very Hard Landing?
The Data
Assessing Propositions One and Two
The Efficiency of Adjustment
Confronting The Future
Policy Options and Constraints
The Transition Problem
A Proposed Agenda for Redesign
Concluding Assessment
The Grim Prospect Ahead
The Implications of the Increasing U.S. International Dissaving in 2003 and 2004 Preface to the Paperback
Foreword
Introduction
The Purpose and Three Propositions
How a Hegemonic System Works
Background Concepts and Relationships in a Globalized World
A Theory of Balance-of-Payments Adjustment for the Hegemon
A Model of Instability in Asset Markets
Exhaustion: Soft, Hard or Very Hard Landing?
The Data
Assessing Propositions One and Two
The Efficiency of Adjustment
Confronting the Future
Policy Options and Constraints
The Transition Problem
A Proposed Agenda for Redesign
Concluding Assessment
The Grim Prospect Ahead
The Implications of the Increasing U.S. International Dissaving in 2003 and 2004
Table of Contents provided by Publisher. All Rights Reserved.

The Exhaustion of the Dollar

Its Implications for Global Prosperity

At a Glance

Paperback

Industry Reviews

Shipping

How to return your order

Defective items

You Can Find This Book In

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