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The Exhaustion of the Dollar: Its Implications for Global Prosperity

Autor H. Gray
en Limba Engleză Paperback – 29 iun 2004
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.
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Paperback (1) 63612 lei  6-8 săpt.
  Palgrave Macmillan UK – 29 iun 2004 63612 lei  6-8 săpt.
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  Palgrave Macmillan UK – 29 iun 2004 63990 lei  6-8 săpt.

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Specificații

ISBN-13: 9781403999559
ISBN-10: 1403999554
Pagini: 228
Ilustrații: XI, 215 p.
Dimensiuni: 140 x 216 x 13 mm
Greutate: 0.3 kg
Ediția:2004
Editura: Palgrave Macmillan UK
Colecția Palgrave Macmillan
Locul publicării:London, United Kingdom

Cuprins

Preface to the Paperback Foreword; R.Canterbery PART I: INTRODUCTION The Purpose and Three Propositions PART II: 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 PART III: EXHAUSTION: SOFT, HARD OR VERY HARD LANDING? The Data Assessing Propositions One and Two The Efficiency of Adjustment PART IV: 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

Recenzii

'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

Notă biografică

H. PETER GRAY is Professor Emeritus of International Economics and Business at Rutgers, the State University of New Jersey and at Rensselaer Polytechnic Institute of Troy, New York, USA. He is a past president of both the Eastern Economic Association and of the International Trade and Finance Association.