Uncertainty and dollar dominance
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2025-07-03
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en
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This thesis estimates the relationships between different types of uncertainty and dollar dominance, in a Max Share identification framework that allows for simultaneous identification of multiple shocks. Two alternative hypotheses are formulated: different types of uncertainty have different effects, and uncertainty is partially endogenous. The results reject both null hypotheses, indicating both differential effects and partial endogeneity. However, the reason for these results is unclear. Safe-haven effects and inherent instabilities cancel each other out, and trade aspects of dollar dominance are hard to measure in a shock-based methodological framework. Overall, the results do not indicate that the end of dollar dominance is near, and the thesis gives multiple recommendations for future research.
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Faculteit der Managementwetenschappen