The Exhaustion of the Dollar

Its Implications for Global Prosperity

Authors: Gray, H.

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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.

About the authors

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.

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


Table of contents (11 chapters)

Table of contents (11 chapters)
  • The Purpose and Three Propositions

    Gray, H. Peter

    Pages 3-32

  • Background Concepts and Relationships in a Globalized World

    Gray, H. Peter

    Pages 35-51

  • A Theory of Balance-of-Payments Adjustment for the Hegemon

    Gray, H. Peter

    Pages 52-72

  • A Model of Instability in Asset Markets

    Gray, H. Peter

    Pages 73-85

  • The Data

    Gray, H. Peter

    Pages 89-110

Buy this book

eBook $39.99
price for USA (gross)
  • ISBN 978-0-230-50020-4
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $169.99
price for USA
  • ISBN 978-1-4039-1885-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $52.00
price for USA
  • ISBN 978-1-4039-9955-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

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Bibliographic Information

Bibliographic Information
Book Title
The Exhaustion of the Dollar
Book Subtitle
Its Implications for Global Prosperity
Authors
Copyright
2004
Publisher
Palgrave Macmillan UK
Copyright Holder
Palgrave Macmillan, a division of Macmillan Publishers Limited
eBook ISBN
978-0-230-50020-4
DOI
10.1057/9780230500204
Hardcover ISBN
978-1-4039-1885-7
Softcover ISBN
978-1-4039-9955-9
Edition Number
1
Number of Pages
XI, 215
Topics