# The Dollar and its Rivals “[CCMR Staff Report: The Benefits to the United States of the Dollar as the Dominant International Currency](https://capmktsreg.org/wp-content/uploads/2025/12/CCMR-Staff-Report-The-Benefits-to-the-US-of-the-Dollar-as-an-International-Currency-12.01.25.pdf)," [Committee on Capital Markets Regulation](https://capmktsreg.org/policy-work/), Nov.2025. "[Reserves, Sanctions and Tariffs in a Time of Uncertainty](/sites/g/files/omnuum8121/files/2025-08/CFIforJIE2025Aug11_0.pdf "Reserves, Sanctions and Tariffs in a Time of Uncertainty")," with M.Chinn & H.Ito, [NBER WP 34177](https://www.nber.org/system/files/working_papers/w34177/w34177.pdf), Aug. 2025. “[The Dollar versus the Euro as International Reserve Currencies](/file_url/1460),” with Menzie Chinn and Hiro Ito, 2024, [*Journal of International Money and Finance,* 146, August.](/) [HKS RWP no. 24-005](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4749335), March 2024. [NBER](https://www.nber.org/papers/w32387) [WP 32387](https://www.nber.org/papers/w32387?utm_campaign=ntwh&utm_medium=email&utm_source=ntwg13), [April 2024](/file_url/1400). “[Dollar Rivals](/),” [in](/file_url/1389) [*50 Years of Floating*](https://cup.columbia.edu/book/floating-exchange-rates-at-fifty/9780881327496)*,* 2024, Douglas Irwin and Maurice Obstfeld, editors (Peterson Institute for International Economics, Washington DC). [HKS RWP](/file_url/1186)[ 23-015](https://www.hks.harvard.edu/publications/dollar-rivals), June; [NBER WP 31476](https://www.nber.org/system/files/working_papers/w31476/w31476.pdf), July 2023. "[Internationalization of the RMB and Historical Precedents](/file_url/882)," in [*Journal of Economic Integration*](http://ideas.repec.org/s/ris/integr.html)*,* 2012, vol.27, no.3, pp. 329-365. [Harvard Kennedy School](https://www.hks.harvard.edu/publications/internationalization-rmb-and-historical-precedents). “[Historical precedents for the internationalization of the RMB](/file_url/1217),” originally written for a workshop in Beijing of the [CFR](http://www.cfr.org/) & the China Development Research Foundation, Nov.1, 2011. Summary: "[The rise of the RMB as an international currency](https://cepr.org/voxeu/columns/rise-renminbi-international-currency-historical-precedents): Historical precedents," [Oct.5, 2011](/file_url/1222); versions[ at RIETI](/file_url/1218) & [*VoxEU*, Oct.10, 2011](https://cepr.org/voxeu/columns/rise-renminbi-international-currency-historical-precedents). . "[What’s 'In' and What’s 'Out' in Global Money](/file_url/1219)," September 2009, [*Finance and Development*, IMF, 46, no.3](https://www.imf.org/external/pubs/ft/fandd/2009/09/frankel.htm). Adapted from “On Global Currencies,” Keynote for workshop, ECB, Frankfurt, 2009; [Powerpoint](/file_url/1220). HKS RWP09-026, “[Why the Euro Will Rival the Dollar](/file_url/1242),” with Menzie Chinn, 2008, [*International Finance* (Blackwill Publishers), 11, no.1, 49-73*.* ](https://users.ssc.wisc.edu/~mchinn/Chinn_Frankel_IntFin2008.pdf) Revised from "[The Euro May Surpass the Dollar as Leading International Reserve Currency over the Next 15 Years,](/file_url/1243)" RWP08-016 & [NBER WP 13909](https://www.nber.org/papers/w13909). Serbian transl.*,* [*Panoeconomicus*,](http://www.panoeconomicus.rs/) vol.[55, no.3,](http://www.panoeconomicus.rs/issue.php?id=22)[ 2008, 255-78](http://panoeconomicus.org/index.php/jorunal/article/view/251). “[Will the Euro Eventually Surpass the Dollar as Leading International Reserve Currency?](/file_url/930)” with Menzie Chinn, 2007, in[ G7 Current Account Imbalances: Sustainability and Adjustment](https://www.nber.org/books-and-chapters/g7-current-account-imbalances-sustainability-and-adjustment), edited by Richard Clarida (University of Chicago Press). NBER WP [No. 11510](http://www.nber.org/papers/w11510),[ 2005](/file_url/883). \[Data on turnover in major FX markets, 1979-2001 Excel03. ExcelWorkbook.\] "[The Dollar's Demise](/file_url/1084)? [Future of the Dollar](/file_url/1085) as [the World's Principal Reserve Assset](/file_url/1086)," H.W.Brock, editor, Strategic Economic Decisions, Inc., Menlo Park, Ca., August 1997. ["The SDR, Reserve Currencies, and the Future of the International Monetary System,"](/file_url/918) with Barry Eichengreen, in [*The Future of the SDR in Light of Changes in the International Financial System*](https://www.imf.org/en/Publications/Books/Issues/2016/12/30/The-Future-of-the-SDR-in-Light-of-Changes-in-the-International-Monetary-System-1548), edited by Michael Mussa, James Boughton, and Peter Isard, International Monetary Fund, 1996. "[Still the Lingua](/file_url/1082) [Franca](/file_url/1083): [The Exaggerated Death](https://www.foreignaffairs.com/articles/united-states/1995-07-01/still-lingua-franca) [of the Dollar](/file_url/447)," [*Foreign Affairs*, 74, no. 4](https://www.foreignaffairs.com/issues/1995/74/4), [July/August 1995, 9-16](https://www.foreignaffairs.com/articles/united-states/1995-07-01/still-lingua-franca-exaggerated-death-dollar). "[On th](/file_url/1087)e [Dollar](/file_url/1088)," In *The New Palgrave Dictionary of Money and Finance* (MacMillan Press Reference Books, London), 1992. //////////////////////////////// --- Attachments- [ description piierivals2023junerwp.docx ](/sites/g/files/omnuum8121/files/frankel/files/piierivals2023junerwp.docx) --- See also:- [ The Dollar and its Rivals ](/currencies-terms/dollar-and-its-rivals)