The United States profits economically from the dollar serving as the standard global currency
Economic literature extensively documents the concept of the US dollar's "exorbitant privilege," demonstrating how its status as the world's primary global reserve currency yields distinct economic benefits and stability advantages for the United States.
The retrieved literature (such as papers 1 and 4) explicitly discusses the "exorbitant privilege" associated with the US dollar acting as the dominant global reserve currency, demonstrating tangible economic advantages. Other papers discuss the geopolitical enforcement or friction of this status without refuting the economic benefit to the US itself.
Le LT, Yarovaya L, Nasir MA. Did COVID-19 change spillover patterns between Fintech and other asset classes?. 2021. https://doi.org/10.1016/j.ribaf.2021.101441
The study confirms that the exorbitant privilege enjoyed by the US dollar prevailed during global crises like the COVID-19 pandemic.
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Gourinchas P. International Macroeconomics: From the Great Financial Crisis to COVID-19, and Beyond. 2022. https://europepmc.org/article/PMC/PMC9362717
The lecture discusses recent developments regarding the US external balance sheet and its associated exorbitant privilege.
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