Wednesday, April 5, 2017 | 12:30 PM to 1:30 PM
The proper role of the United States dollar within the international monetary system is frequently questioned. Recognizing that the dollar continues to be the premiere leading reserve currency, some loud opposition is inspired by a concern that the US derives exorbitant privileges and undeserved benefits from the economic influence it can exert through the dollar.
The Exorbitant Burden: The Impact of the US Dollar's Reserve and Global Currency Status on the US Twin-Deficits, by Taranza Ganziro and Robert Vambery, focuses on the opposite end of the exorbitant privilege spectrum: the exorbitant burden, the cost the very dollar reserve status impacts on the US economy through the twin deficits. This economic and political science work includes a rigorous quantitative analysis that demonstrates that although it is a privilege and a benefit for the US to have its currency as the leading world reserve currency, the privilege also proves to be a very significant economic and security burden imposed on the nation.
About the Authors
Robert G. Vambery
Robert Vambery, Ph.D., Columbia University, is a professor of International Business and Marketing at the Pace University Lubin School of Business. He is a former managing editor and editor-at-large of the Journal of International Business Studies. He is co-editor and co-author of the book, International Business Knowledge: Managing International Functions in the 1990’s and the author of the book, Capital Investment Control in the Air Transport Industry. In 2008 and 2013, the Global Business and Technology Association granted him its prestigious Global Excellence Award.
Taranza Ganziro, DPS, Pace University, is a professor of Economics at iGlobal University. He is the founder and president of the African Markets Institute, which strives to connect the US and global investing community to the fast-rising business opportunities in Africa. He co-founded Printer Set, Ltd., a printing and publishing house, and Transcontinental, SA, a major international clearing and forwarding company in Rwanda.