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How to grow an invoicing currency : micro evidence from Argentina

Benguria, Felipe; Novy, Dennis - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015418948

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How to grow an invoicing currency : micro evidence from Argentina

Benguria, Felipe; Novy, Dennis - 2025

Book / Working Paper

How to grow an invoicing currency : micro evidence from Argentina

Benguria, Felipe; Novy, Dennis - 2025

Book / Working Paper

Dollar colonisation : the destructive policy implications of modern monetary theory

Lysandrou, Photis - 2026

Modern monetary theory (MMT) argues that all governments that issue their own currency have the same fiscal and monetary policy space. This paper argues against this position. For MMT's assumptions to be valid, MMT must abstract from the gravitational force of the US dollar that stems from it...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015655151

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Dollar colonisation : the destructive policy implications of modern monetary theory

Lysandrou, Photis - 2025

Book / Working Paper

Dollar funding and housing markets : the role of non-US global banks

Ehlers, Torsten; Hoffmann, Mathias; Raabe, Alexander - 2026 - This version: January 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015613799

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Dollar funding and housing markets : the role of non-US global banks

Ehlers, Torsten; Hoffmann, Mathias; Raabe, Alexander - 2025 - This version: October 2025

Edition: This version: October 2025

Book / Working Paper

Dollar dominance and the transmission of monetary policy

McLeay, Michael; Tenreyro, Silvana - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614188

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Dollar dominance and the transmission of monetary policy

McLeay, Michael; Tenreyro, Silvana - 2026

Book / Working Paper

Exchange rate appreciation and structural adjustment : evidence from the Plaza Accord

Kumanomido, Hiroshi - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015616378

The under-theorisation of dollar dominance

Lysandrou, Photis - 2026

The recent period has seen an upsurge in predictions that the dollar's international dominance will at some point be challenged by a rival currency, notably the euro. This paper counters these predictions. It argues that the overestimation of the euro's ability to challenge dollar dominance is...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015596357

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The under-theorisation of dollar dominance

Lysandrou, Photis - 2025

Book / Working Paper

International currency dominance

Abadi, Joseph; Fernández-Villaverde, Jesús; Sanches, … - 2026

We present a micro-founded monetary model of the world economy to study international currency competition. Our model features "unipolar" equilibria, with a single dominant international currency, and "multipolar" equilibria, in which multiple currencies circulate internationally. Long-run...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015590749

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International currency dominance

Abadi, Joseph; Fernández-Villaverde, Jesús; Sanches, … - 2026

Book / Working Paper

International Currency Dominance

Abadi, Joseph; Fernández-Villaverde, Jesús; Sanches, … - 2026

Book / Working Paper

International currency dominance

Abadi, Joseph; Fernández-Villaverde, Jesús; Sanches, … - 2025

Book / Working Paper

International currency dominance

Fernández-Villaverde, Jesús; Sanches, Daniel; Abadi, … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015604348

Debt imperialism : from financial hegemony to the chaos of semi-peripheries

Brunazzi, Gianmaria; Re, Cristina - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015604706

Demand for dollars : evidence from survey expectations

Ballensiefen, Benedikt; Somogyi, Fabricius; Winterberg, … - 2026

We study the determinants of US dollar demand across market participants and traded instruments using survey-based exchange rate and macroeconomic expectations. Leveraging granular FX trading data and forward looking expectations, we present three results. First, currency investors increase...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015605616

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Demand for dollars : evidence from survey expectations

Ballensiefen, Benedikt; Somogyi, Fabricius; Winterberg, … - 2026 - This version: 26 April 2026

Edition: This version: 26 April 2026

Book / Working Paper

The dollar and the F-35 : balance-sheet imperialism

Lapabitsas, Kōstas - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015619853

U.S. dollar dominance in trade invoicing and cross-border investments in SEACEN economies

2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015621542

Exchange rate passthrough in Latin America : does dollarization matter?

Notte, Vincent - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015625017

Monetary fundamentals and exchange rate forecasting in hyperinflation

Alawin, Mohammad - 2026

The Meese-Rogoff puzzle suggests that exchange rate models rarely outperform a random walk in out-of-sample forecasting. This paper re-examines that puzzle in the context of the German hyperinflation, an environment in which monetary forces dominate economic behavior. Using simple bivariate...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628383

The U.S. dollar as a dollar-channel proxy in gold return dynamics : evidence from 2000-2025

Sayegh, Rosette Ghossoub; Accary, Johnny - 2026

This study examines the determinants of gold returns over the period 2000-2025, a period marked by recurrent financial crises, geopolitical tensions, and major shifts in global monetary conditions. As gold represents both a strategic commodity and a key reserve asset, understanding the channels...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628650

Determinants of the international use of currencies : implications for US dollar dominance

Itō, Hiro; Kawai, Masahiro - 2026

The US dollar (USD) has long been the dominant international currency. The euro (EUR), UK pound (GBP), Japanese yen (JPY), and other advanced economy (AE) currencies have played complementary roles to the USD as international currencies, while emerging market and developing economy (EMDE)...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628673

Nominal versus real deposit dollarization in Zambia : determinants and monetary policy insights

Funjika, Patricia; Gatawa, Mufara; Ndautu, Kwabala - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015641473

U.S. dollar dominance and the role of local currency settlement framework : evidence from Thai exports

Mintrapan Chaeng-lum; Nuwat Nookhwun; Jettawat … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015641734

Supply side determinants of loan dollarization : micro-data evidence from Armenia

Grigoryan, Arthur; Geršl, Adam - 2026

This paper examines supply-side determinants of foreign currency loan issuance in the Armenian banking sector using a loan-level credit registry dataset spanning 2003-2024 - one of the longest single-country microdata samples in this literature. We estimate a binary logit model with bank and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015641894

Gewinne, Bilanzniveau und -struktur der Schweizer Banken : eine empirische Analyse 1987-2024

Kugler, Peter - 2026

Die vorliegende wirtschaftshistorische Untersuchung geht der Frage nach, wie sich Bilanzwachstum und insbesondere der Ausbau von Auslandaktivitäten auf die Gewinne ausgewählter Schweizer Banken in den vergangenen knapp vier Jahrzehnten ausgewirkt haben. Das Ergebnis für die Jahre 1987 bis...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015644106

Contrasting ledgers : considerations for U.S. dollar interbank payment systems

Leistra, Melissa - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015653042

Firm-to-firm financial linkages and dollar risk transmission

Hardy, Bryan; Saffie, Felipe; Simonovska, Ina - 2026

We study how U.S. dollar fluctuations transmit through domestic supply chains in emerging markets. Large firms borrow in foreign currency and extend trade credit to domestic partners, exposing the supply chain to exchange rate risk. We develop a model where financially constrained suppliers pass...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015632187

A note on currency hedging of dollar investments of Swiss investors 1974-2025

Kugler, Peter - 2026

Our econometric (cointegration) analysis of the Swiss franc US dollar exchange rates over the period 1974 - 2025 provides strong evidence for a negative bias of the forward rate as predictor of the spot rate for the years up to 2007, which disappears with data from 2008 onwards. This implies...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015635688

The asymmetric effect of capital flows and credit default swap spreads on the US dollar/Turkish lira exchange rate

Akbal, Emel; Civcir, İrfan - 2026

This study investigates the asymmetric effects of capital flows and Credit Default Swap (CDS) spreads on the US dollar/Turkish lira exchange rate employing the Nonlinear Auto Regressive Distributed Lag (NARDL) methodology. We used a Turkish monthly dataset covering the period from 2003 to 2022....

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015666467

The Trafalgar squeeze of global liquidity

Bignon, Vincent; Mojon, Benoît; Ortiz Serrano, Miguel - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015668263

Hunting for dollars

Kloks, Pēteris; Mattille, Edouard; Ranaldo, Angelo - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015115169

Accounting for the patterns of invoicing currency in global trade

Yilmazkuday, Hakan - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015654419

Extreme comovements and downside/upside risk spillovers between oil prices and exchange rates

Ning, Cathy Q.; Xu, Dinghai - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015617320

Dollar funding fragility and non-U.S. global banks

Bacchetta, Philippe; Davis, Scott; Van Wincoop, Eric - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015546278

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Dollar funding fragility and non-US global banks

Bacchetta, Philippe; Davis, Scott; Van Wincoop, Eric - 2025

Book / Working Paper

The U.S. Dollar and variance risk premia imbalances

Kjær, Mads Markvart; Posselt, Anders Merrild - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015166669

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The U.S. Dollar and Variance Risk Premia Imbalances

Kjær, Mads Markvart; Posselt, Anders Merrild - 2022

Book / Working Paper

Estimating the volume of counterfeit U.S. currency in circulation

Judson, Ruth A. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015271873

The dollar channel of monetary policy transmission

Meisenzahl, Ralf R.; Niepmann, Friederike; … - 2025

This paper documents a new dollar channel that transmits monetary policy across borders. Exploiting unique features of the syndicated loan market for identification, we show that changes in the euro-dollar exchange rate around ECB monetary policy announcements that are orthogonal to simultaneous...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015333005

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The dollar channel of monetary policy transmission

Meisenzahl, Ralf R.; Niepmann, Friederike; … - 2025

Book / Working Paper

The dollar channel of monetary policy transmission

Meisenzahl, Ralf R.; Niepmann, Friederike; … - 2025

Book / Working Paper

The great dollar shortage debate : a modern perspective

Ntellas, Charēs; Tavlas, George S. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015334637

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The great dollar shortage debate : a modern perspective

Ntellas, Charēs; Tavlas, George - 2025

Book / Working Paper

A novel minimum variance portfolio approach to understanding dollarization : case of Georgia

Metreveli, Saba; Mosakhlishvili, Akaki; Mkhatrishvili, … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015189092

Financial sanctions and the share of US dollar in global reserve currencies : evidence from the Least Absolute Shrinkage and Selection Operator (LASSO) model

Sanusi, Aliyu R.; Mamman, Suleiman O.; Iliyasu, Jamilu; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015195250

Forecasting the daily exchange rate of the UK pound sterling against the US dollar

Darvas, Zsolt M.; Schepp, Zoltán - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015197874

Financial stability and monetary policy autonomy in Japan : should Japan peg the Yen to the Dollar?

Schnabl, Gunther; Schürmann, Christof - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015423175

Is the dollar era over?

Ilzetzki, Ethan; Grzana, Marta - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015464720

Dominance in transition? : the future of the dollar and the euro

2025

This paper examines the persistence and challenges of dollar supremacy in the international monetary system, from Bretton Woods to digital stablecoins. It highlights structural supports for dollar dominance, such as deep U.S. financial markets and commodity pricing, but also explores...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015465434

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Dominance in transition? : the future of the dollar and the euro

2025

Book / Working Paper

Dollar dominance and international spillovers of US financial shocks

Son, Minkyu - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015466066

Long-run uncovered interest parity in emerging markets

Rebucci, Alessandro; Toraman, Sinem Yagmur; Valente, Giorgio - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015448082

De-dollarization? Diversification? : exploring central bank gold purchases and the dollar's role in international reserves

Weiss, Colin - 2025

I examine how governments have managed their holdings of gold and dollar reserves in recent decades, a period when gold's share of aggregate international reserves rose and the dollar's share fell. Using data on central banks’ reserve currency composition and official sector purchases of U.S....

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015450748

Tariffs, stablecoins, and the demand for dollars

Divakaruni, Anantha; Zimmerman, Peter - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015451300

Demand for safe assets and spillovers from the global dollar cycle

Allen, Cian; Bems, Rudolfs; Boer, Lukas; Moussa, Racha - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015419389

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Demand for Safe Assets and Spillovers from the Global Dollar Cycle

Allen, Cian - 2025

Book / Working Paper

Risk and return spillovers among developed and emerging market currencies

Greenwood-Nimmo, Matthew; Steenkamp, Daan; Van … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015405666

"Dollarization vs. bitcoinization in Türkiye : which is more dangerous for the financial market?"

Jabbour, George M.; Mansour-Ichrakieh, Layal - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015405749

What about the impact of dollarization on poverty and inequality?

Chong, Alberto; Kim, Soojin - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015407041

Structural exchange rate modeling : the case of a small open economy

Kuzmin, Anton - 2025

A new mathematical structural model of the exchange rate and a new nonlinear multifactorial dependence of the exchange rate dynamics on a wide system of fundamental economic factors are the main results of the work. The model includes a wide system of economic factors based on the balance of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015409015

Central bank's surprise policy and its potential to change people's deflationary mindset : evidence from the yen-dollar exchange market

Kamada, Koichiro - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015432747

The international dimension of repo : five new facts

Hermes, Felix; Schmeling, Maik; Schrimpf, Andreas - 2025

We analyze the international dimension of repo markets using novel euro area regulatory microdata. Our findings highlight the deep integration of funding markets across the Atlantic and the US dollar's outsized role. Our paper documents five key facts: (1) US dollar repos by euro area entities...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015433970