The exorbitant burden : the impact of the U. S. dollar's reserve and global currency status on the U. S. twin-deficits / Taranza T. Ganziro, Robert G. Vambery.

Format:

Book

Author/Creator:

Ganziro, Taranza T., author.

Vambery, Robert G., 1942- author.

Language:

English

Subjects (All):

Money--United States--History.

Money.

Physical Description:

1 online resource (281 p.)

Edition:

First edition.

Place of Publication:

Bingley, [England] : Emerald, 2016.

Summary:

This economic and political science work is a rigorous analysis that demonstrates that although it is a privilege and a benefit for the US to have its currency, the dollar, as the leading world reserve currency, the privilege also proves to be a very significant economic and security burden imposed on the nation.

Contents:

Front Cover; The Eoxorbitant Burden: The Impact of the U.S. Dollar's Reserve and Global Currency Status on the U.S. Twin-Deficits; Copyright page; Contents; Summary; List of Equations; List of Boxes; List of Charts; List of Graphs; List of Figures; List of Tables; List of Appendices; Chapter 1 Introduction; Chapter 2 Literature Review; 2.1. Theory of Reserve Currency; 2.1.1. Principle; 2.1.2. Functions of the Leading Reserve Currency; 2.1.2.1. Store of value; 2.1.2.2. Medium of exchange; 2.1.2.3. Unit of account; 2.1.3. Reserves Currency Accumulation Motives; 2.1.3.1. Mercantilist rule

2.1.3.2. Self-insurance precautionary rule2.1.3.3. Collateral rule; 2.1.4. Cost of Excessive Reserves Holdings; 2.1.5. International Reserve Currency Status Criteria; 2.1.5.1. Economic and geopolitical weight; 2.1.5.2. Macroeconomic stability; 2.1.5.3. Trade openness; 2.1.5.4. Financial depth dynamics; 2.1.5.5. Winning the inertial duel; 2.1.6. The Implications of Achieving Reserve Currency Status; 2.1.7. Empirical Evidence of the U.S. Dollar Reserve Currency Status; 2.1.7.1. The U.S. dollar is the global leading anchor currency

2.1.7.2. The U.S. dollar is the major form of cash currency worldwide2.1.7.3. The U.S. dollar is a transaction - Centric to Global Forex markets; 2.1.7.4. The U.S. dollar is the currency of choice in the international trade invoicing and settlement; 2.1.7.5. The U.S. dollar is a prominent currency in international debt market; 2.1.7.6. The U.S. dollar is a key currency in banking cross-border lending and investment portfolio; 2.1.7.7. The U.S. dollar dominates foreign reserves holdings; 2.2. Reserve Currency Historical Background; 2.2.1. Overview; 2.2.2. Gold Standard: 1819-1914

2.2.3. The British Pound Standard: 1914-19452.2.4. Bretton Woods System 1946-1973; 2.2.4.1. Overview; 2.2.4.2. The dollar-gold exchange standard; 2.2.4.3. The Bretton Woods System dilemma; 2.2.4.4. Nixon shock; 2.2.5. Fiduciary Dollar Standard (1973 - Present); 2.3. U.S. Dollar Global Liquidity; 2.3.1. Overview; 2.3.2. Private Dollar Global Liquidity; 2.3.2.1. Eurodollar liquidity; Definition; Background; Eurodollar market features; Eurodollar market size; 2.3.2.2. Dollar-derivatives global liquidity; Defining a derivative; Evolution; Size and leverage of the derivatives market

The magic of nettingDollar toxic liquidity; Do derivatives pose an existential threat to us dollar reserve currency status?; 2.3.2.3. The Repo Markets and the dollar-liquidity; Definition; Importance; Dangers; 2.3.3. Official Dollar-Global Liquidity; 2.3.3.1. The Fed and the dollar global liquidity; 2.3.3.2. The anatomy of banking bailout; How big is too big to fail; How dangerous is too big to fail; The banking bailout; 2.3.4. The Interaction between Private and Official Liquidity; Chapter 3 Theoretical Framework; 3.1. Overview; 3.2. Great Powers Have Great Currencies

3.2.1. Leading Country Theoretical Outline

Notes:

Includes index.

Includes bibliographical references.

Print version record

ISBN:

9781785606403

1785606409

OCLC:

948378289