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The Dilemma of the Dollar. CEPS Commentaries, 26 November 2009

De Grauwe, Paul. (2009) The Dilemma of the Dollar. CEPS Commentaries, 26 November 2009. [Policy Paper]

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    Abstract

    Even more spectacular than the recent decline of the dollar against major world currencies has been the long-run decline of the US currency: since 1960 the dollar has lost two-thirds of its value against the Japanese yen, the Swiss franc and the German mark (since 1999, the euro). At the same time, however, at least since the early 1990s, the US has been seen to produce superior economic results, i.e. a higher productivity growth than most of Europe and Japan with more or less the same rates of inflation. In this Commentary, CEPS Associate Senior Fellow Paul De Grauwe attempts to explain this paradox.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > External relations > EU-US
    EU policies and themes > External relations > international economy
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 11 Aug 2010
    Page Range: p. 2
    Last Modified: 15 Feb 2011 18:34
    URI: http://aei.pitt.edu/id/eprint/14532

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