Tarek Hassan — Trade War and the Dollar Anchor
Tarek Hassan joins the Global Challenges Research Seminar to present “Trade War and the Dollar Anchor” (with Thomas Mertens, Jingye Wang, and Tony Zhang).Abstract:
We develop a general‑equilibrium model in which the safety of a country’s currency and its choice of exchange‑rate stabilizations arise endogenously. Calibrated to pre‑2025 data, the model replicates the U.S. dollar’s safety premium, low Treasury yields, and its status as the world’s anchor currency. Introducing symmetric tariffs that isolate U.S. goods markets from the world erodes the U.S. dollar’s safety premium, raises U.S. interest rates, and lowers the world market value of U.S. firms. For sufficiently high tariffs, small economies optimally re‑peg to the euro, precipitating a phase shift to a euro‑centric monetary system and a global welfare loss. The analysis implies that persistent trade wars may threaten the financial privileges the United States derives from the dollar’s international role.
Tarek Hassan is a Professor of Economics at Boston University. Professor Hassan’s research focuses on international finance, macro-finance, and social factors in economic growth. Some of his recent papers study the effects of uncertainty on firm behavior and on the allocation of capital across countries. Another set of papers studies the effect of social structure on economic growth and the effect of historical migration and ethnic diversity on foreign direct investment. Hassan’s work has appeared in the American Economic Review, the Quarterly Journal of Economics, the Journal of Finance, and other top-journals. He is a research fellow of the National Bureau of Economic Research and the Center for Economic Policy Research. Receive SMS online on sms24.me
TubeReader video aggregator is a website that collects and organizes online videos from the YouTube source. Video aggregation is done for different purposes, and TubeReader take different approaches to achieve their purpose.
Our try to collect videos of high quality or interest for visitors to view; the collection may be made by editors or may be based on community votes.
Another method is to base the collection on those videos most viewed, either at the aggregator site or at various popular video hosting sites.
TubeReader site exists to allow users to collect their own sets of videos, for personal use as well as for browsing and viewing by others; TubeReader can develop online communities around video sharing.
Our site allow users to create a personalized video playlist, for personal use as well as for browsing and viewing by others.
@YouTubeReaderBot allows you to subscribe to Youtube channels.
By using @YouTubeReaderBot Bot you agree with YouTube Terms of Service.
Use the @YouTubeReaderBot telegram bot to be the first to be notified when new videos are released on your favorite channels.
Look for new videos or channels and share them with your friends.
You can start using our bot from this video, subscribe now to Tarek Hassan — Trade War and the Dollar Anchor
What is YouTube?
YouTube is a free video sharing website that makes it easy to watch online videos. You can even create and upload your own videos to share with others. Originally created in 2005, YouTube is now one of the most popular sites on the Web, with visitors watching around 6 billion hours of video every month.
