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About this book
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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Table of contents (11 chapters)
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Front Matter
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Introduction
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Front Matter
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How a Hegemonic System Works
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Front Matter
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Exhaustion: Soft, Hard or Very Hard Landing
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Front Matter
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Confronting the Future
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Front Matter
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Concluding Assessment
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Front Matter
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Back Matter
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
Authors and Affiliations
About the author
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.
Bibliographic Information
Book Title: The Exhaustion of the Dollar
Book Subtitle: Its Implications for Global Prosperity
Authors: H. Peter Gray
DOI: https://doi.org/10.1057/9780230500204
Publisher: Palgrave Macmillan London
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: Palgrave Macmillan, a division of Macmillan Publishers Limited 2004
Hardcover ISBN: 978-1-4039-1885-7Published: 29 June 2004
Softcover ISBN: 978-1-4039-9955-9Published: 29 June 2004
eBook ISBN: 978-0-230-50020-4Published: 29 June 2004
Edition Number: 1
Number of Pages: XI, 215
Topics: Business Finance, Macroeconomics/Monetary Economics//Financial Economics, International Economics, Public Finance