This article offers an explanation, discusses recent trends in the international use of the dollar, and assesses the possible impact of the euro in world financial markets. FOR THE PAST half century, ...

While the global usage of ... U.S. dollar and the euro for cross-border payments remains limited, rapid technological (e.g. digital money) or geopolitical changes could accelerate a regime shift into ...

The natural rate of interest, also known as r-star, is a key variable for analyzing fiscal and monetary policy. A novel ...