exorbitant burden : the impact of the U.S. dollar's reserve and global currency status on the U.S. twin-deficits

Many economists and experts interpret the U.S. twin-deficits, the twin-wars in Iraq and Afghanistan, the 2008 Great Recession that escalated the US debt to vertiginous altitudes"e; as the signs of time that the dollar is now set to repeat the history of the British Pound. But is really the role of the dollar"e; as a global currency and an international reserve asset"e; actually rewarded the United States with an exorbitant privilege? This book focuses on the opposite end of exorbitant privilege spectrum: the exorbitant burden the cost the very dollar reserve status impacts on the U.S. economy through the twin deficits. This economic and political science work is a rigorous quantitative analysis that demonstrates that although it is a privilege and a benefit for the US to have its currency, the dollar, as the leading world reserve currency, the privilege also proves to be a very significant economic and security burden imposed on the nation.