A National Bestseller • Recommended by Financial Times as “What to Read in 2025”**“The central argument of Our Dollar, Your Problem—that the greenback’s pre-eminence was never guaranteed and might plausibly be overturned—could hardly be more timely.”—The EconomistA leading economist explores the global rise of the U.S. dollar and shows why its future stability is far from assured**Our Dollar, Your Problem argues t...

Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six cou...

The last time global sovereign debt reached the level seen today was at the end of the Second World War, and this shaped a generation of economic policymaking. International institutions were transformed, country policies were often draconian and distortive, and many crises ensued. By the early 1970s, when debt fell back to pre-war levels, the world was radically different. It is likely that changes of a similar magnitude -for better and for worse - will play out over coming decades. S...

Leading economists consider the shape of future economic policy: will it resume the pre-crisis consensus, or contend with the post-crisis “new normal”?What will economic policy look like once the global financial crisis is finally over? Will it resume the pre-crisis consensus, or will it be forced to contend with a post-crisis “new normal”? Have we made progress in addressing these issues, or does confusion remain? In April of 2015, the International Monetary Fund ...

We've been assured that the recession is over, but the country and the economy continue to feel the effects of the 2008 financial crisis, and people are still searching for answers about what caused it, what it has wrought, and how we can recover. This selection from the best-selling book This Time Is Different--the definitive history of financial crises, including the recent subprime meltdown--answers these questions and more.Princeton Shorts are brief selections excerpte...

Leading economists consider the shape and future of economic policy: Will it resume the pre-crisis consensus or contend with the post-crisis “new normal”? Have we made progress with addressing the major issues or does confusion remain in today’s economic environment? Chapters address topics that range from the measurement of systemic risk to foreign exchange intervention.

Handbook of International Economics, Sixth Edition provides a definitive reference for researchers and advanced graduate students. The book includes self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists. These surveys summarize not only received results but also newer developments from journal articles and discussion papers. Chapters cover The Global Financial Cycle, Dominant Currency Paradigm: a review, Rethinking exch...

Handbook of International Economics, Fifth Edition provides a definitive reference and teaching supplement for researchers and advanced graduate students. It includes self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists. These surveys summarize not only received results but also newer developments from journal articles and discussion papers. Some original material is included, but the handbook's main goal is to provide...

The aim of the Handbook in Economic series is to produce handbooks for various branches of economics, each of which define source, reference, and teaching supplement for use by professional researchers and advanced graduate students.

What conclusions can be drawn from recent advances in international trade and international macroeconomics? New datasets, theoretical models, and empirical studies have resulted in fresh questions about the world trade and payment system. These chapters--six on trade and six on international macroeconomics--reveal the richness that researchers have uncovered in recent years. The chapters on foreign trade present, among other subjects, new integrated multisector analytical frameworks, the u...

A leading economist explores the global rise of the US dollar and shows why its future stability is far from assured.Our Dollar, Your Problem argues that America’s currency might not have reached today’s lofty pinnacle without a certain amount of good luck.Drawing in part on his own experiences, including with policymakers and world leaders, Kenneth Rogoff animates the remarkable postwar run of the dollar—how it beat out the Japanese yen, the Sovie...

An award-winning economic journalist on why the US dollar is positioned to maintain global primacy—and what that means for America and the worldProphecies that the dollar will lose its status as the world's dominant currency have echoed for decades—and are increasing in volume. Cryptocurrency enthusiasts claim that Bitcoin or other blockchain-based monetary units will replace the dollar. Foreign policy hawks warn that China's renminbi poses a lethal threat to the g...