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Will the U.S. dollar remain strong?

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  • Masaya Sakuragawa

    (Professor, Keio University)

Abstract

This paper consists of two main parts. In the first part, I will describe the historical background of how the U.S. dollar has acquired and maintained its monopoly status as an international currency. In the second half, we will consider whether China, which has emerged as a challenger to the United States, may threaten the hegemony of the United States, and explore the future course of the international currency system.

Suggested Citation

  • Masaya Sakuragawa, 2024. "Will the U.S. dollar remain strong?," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 20(2), pages 1-29, February.
    • Handle: RePEc:mof:journl:ppr20_02_01
    DOI: 10.57520/prippr.20-2-1
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    References listed on IDEAS

    as
    1. Sakuragawa, Masaya & Tobe, Satoshi & Zhou, Mengyuan, 2021. "Chinese housing market and bank credit," Journal of Asian Economics, Elsevier, vol. 76(C).
    2. Huang, Daisy J. & Leung, Charles K. & Qu, Baozhi, 2015. "Do bank loans and local amenities explain Chinese urban house prices?," China Economic Review, Elsevier, vol. 34(C), pages 19-38.
    3. David H. Autor & David Dorn & Gordon H. Hanson, 2013. "The China Syndrome: Local Labor Market Effects of Import Competition in the United States," American Economic Review, American Economic Association, vol. 103(6), pages 2121-2168, October.
    4. Broner, Fernando & Didier, Tatiana & Erce, Aitor & Schmukler, Sergio L., 2013. "Gross capital flows: Dynamics and crises," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 113-133.
    5. Mukhin, Dmitry, 2022. "An equilibrium model of the international price system," LSE Research Online Documents on Economics 112500, London School of Economics and Political Science, LSE Library.
    6. Dmitry Mukhin, 2022. "An Equilibrium Model of the International Price System," American Economic Review, American Economic Association, vol. 112(2), pages 650-688, February.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F45 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Macroeconomic Issues of Monetary Unions
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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