Global corporates move nearly $23.5 trillion across countries annually, equivalent to about 25% of global GDP. To do this, they have to rely on wholesale cross-border payment processes which…
Non-U.S. institutions invest a large portion of their capital in dollar assets and hedge their dollar exposures by selling dollars forward through FX derivatives. In crisis periods, dollars…
How does global risk impact the world economy? In taking up this question, the authors focus on the dollar’s role in the international adjustment mechanism.
