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Role of the U.S. Dollar in International Financial System

Author

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  • Mária Vojtková

    () (University of Economics in Bratislava, Faculty of National Economy, Department of Banking and International Finance)

Abstract

In the study we focus on theoretical and practical aspects of the role of the U.S. dollar in current international monetary system. We shortly describe the historical evolution of monetary system when it comes to the dollar position in it. Subsequently, we assess current status of the U.S. dollar in financial markets and its share on international foreign exchange reserves. In the application part, we examine how changes in the U.S. dollar exchange rate affect countries operating in the pegged exchange regime. At the same time, we focus on the problem of current account deficit of the U.S. balance of payments and its relationship to the export-oriented countries pegged to the U.S. dollar.

Suggested Citation

  • Mária Vojtková, 2011. "Role of the U.S. Dollar in International Financial System," EAPG Working Paper Series 002, Department of Economic Policy, Faculty of National Economy, University of Economics in Bratislava.
  • Handle: RePEc:brt:wpaper:002
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    Keywords

    Bretton-Wood monetary system; U.S. dollar; pegged exchange regime; fixed exchange regime; balance of payment; terms of trade;

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F30 - International Economics - - International Finance - - - General
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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