{"id":"https://openalex.org/W2020449537","doi":"https://doi.org/10.1111/j.1538-4616.2010.00298.x","title":"Oil Currency and the Dollar Standard: A Simple Analytical Model of an International Trade Currency","display_name":"Oil Currency and the Dollar Standard: A Simple Analytical Model of an International Trade Currency","publication_year":2010,"publication_date":"2010-05-20","ids":{"openalex":"https://openalex.org/W2020449537","doi":"https://doi.org/10.1111/j.1538-4616.2010.00298.x","mag":"2020449537"},"language":"en","primary_location":{"id":"doi:10.1111/j.1538-4616.2010.00298.x","doi":"https://doi.org/10.1111/j.1538-4616.2010.00298.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1538-4616.2010.00298.x","pdf_url":null,"source":{"id":"https://openalex.org/S2058785","display_name":"Journal of money credit and banking","issn_l":"0022-2879","issn":["0022-2879","1538-4616"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1","jufo-2","norway-2","poland-140","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Money, Credit and Banking","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5103950976","display_name":"Michael B. Devereux","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I141945490","display_name":"University of British Columbia","ror":"https://ror.org/03rmrcq20","country_code":"CA","type":"education","lineage":["https://openalex.org/I141945490"]}],"countries":["CA"],"is_corresponding":true,"raw_author_name":"MICHAEL B. DEVEREUX","raw_affiliation_strings":["Michael B. Devereux is at the University of British Columbia, CEPR, NBER (E-mail: [email protected] )","Michael B. Devereux\u2002is at the University of British Columbia, CEPR, NBER\u2002(E-mail:\u2002devm@interchange.ubc.ca)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Michael B. Devereux is at the University of British Columbia, CEPR, NBER (E-mail: [email protected] )","institution_ids":["https://openalex.org/I141945490"]},{"raw_affiliation_string":"Michael B. Devereux\u2002is at the University of British Columbia, CEPR, NBER\u2002(E-mail:\u2002devm@interchange.ubc.ca)","institution_ids":["https://openalex.org/I141945490"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5082438133","display_name":"Kang Shi","orcid":"https://orcid.org/0000-0002-9976-4435","observed_orcids":["https://orcid.org/0000-0002-9976-4435"]},"institutions":[{"id":"https://openalex.org/I177725633","display_name":"Chinese University of Hong Kong","ror":"https://ror.org/00t33hh48","country_code":"HK","type":"education","lineage":["https://openalex.org/I177725633"]}],"countries":["HK"],"is_corresponding":true,"raw_author_name":"KANG SHI","raw_affiliation_strings":["Kang Shi is at the Chinese University of Hong Kong (E-mail: [email protected] )","Kang Shi\u2002is at the Chinese University of Hong Kong\u2002(E-mail:\u2002kangshi@cuhk.edu.hk)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Kang Shi is at the Chinese University of Hong Kong (E-mail: [email protected] )","institution_ids":["https://openalex.org/I177725633"]},{"raw_affiliation_string":"Kang Shi\u2002is at the Chinese University of Hong Kong\u2002(E-mail:\u2002kangshi@cuhk.edu.hk)","institution_ids":["https://openalex.org/I177725633"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5002687474","display_name":"Juanyi Xu","orcid":"https://orcid.org/0000-0002-7270-554X","observed_orcids":["https://orcid.org/0000-0002-7270-554X"]},"institutions":[{"id":"https://openalex.org/I200769079","display_name":"Hong Kong University of Science and Technology","ror":"https://ror.org/00q4vv597","country_code":"HK","type":"education","lineage":["https://openalex.org/I200769079"]}],"countries":["HK"],"is_corresponding":true,"raw_author_name":"JUANYI XU","raw_affiliation_strings":["Juanyi Xu is at the Hong Kong University of Science and Technology (E-mail: [email protected] )","Juanyi Xu\u2002is at the Hong Kong University of Science and Technology\u2002(E-mail:\u2002jennyxu@ust.hk)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Juanyi Xu is at the Hong Kong University of Science and Technology (E-mail: [email protected] )","institution_ids":["https://openalex.org/I200769079"]},{"raw_affiliation_string":"Juanyi Xu\u2002is at the Hong Kong University of Science and Technology\u2002(E-mail:\u2002jennyxu@ust.hk)","institution_ids":["https://openalex.org/I200769079"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5002687474","https://openalex.org/A5082438133","https://openalex.org/A5103950976"],"corresponding_institution_ids":["https://openalex.org/I141945490","https://openalex.org/I177725633","https://openalex.org/I200769079"],"apc_list":{"value":3800,"currency":"USD","value_usd":3800},"apc_paid":null,"fwci":1.1144,"has_fulltext":false,"cited_by_count":18,"citation_normalized_percentile":{"value":0.85869805,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":97},"biblio":{"volume":"42","issue":"4","first_page":"521","last_page":"550"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.913100004196167,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.913100004196167,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10128","display_name":"Global trade and economics","score":0.048500001430511475,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.0284000001847744,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/us-dollar","display_name":"US dollar","score":0.7699999809265137},{"id":"https://openalex.org/keywords/primary-commodities","display_name":"primary commodities","score":0.6980000138282776},{"id":"https://openalex.org/keywords/foreign-exchange-risk","display_name":"exchange rate risk","score":0.9470000267028809},{"id":"https://openalex.org/keywords/dollar-standard","display_name":"dollar standard","score":0.7990000247955322},{"id":"https://openalex.org/keywords/international-monetary-system","display_name":"international monetary system","score":0.3630000054836273}],"concepts":[{"id":"https://openalex.org/C109168655","wikidata":"https://www.wikidata.org/wiki/Q242988","display_name":"Liberian dollar","level":2,"score":0.8099402785301208},{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.7622056007385254},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6763431429862976},{"id":"https://openalex.org/C165705269","wikidata":"https://www.wikidata.org/wiki/Q1542397","display_name":"Foreign exchange risk","level":3,"score":0.6633827686309814},{"id":"https://openalex.org/C38935604","wikidata":"https://www.wikidata.org/wiki/Q4330363","display_name":"Stylized fact","level":2,"score":0.6495000123977661},{"id":"https://openalex.org/C70455891","wikidata":"https://www.wikidata.org/wiki/Q220788","display_name":"Devaluation","level":3,"score":0.5574502944946289},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5397899746894836},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.4879309833049774},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.4861185550689697},{"id":"https://openalex.org/C12472996","wikidata":"https://www.wikidata.org/wiki/Q756202","display_name":"Reserve currency","level":4,"score":0.4692549407482147},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.16123148798942566},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.08115658164024353}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1111/j.1538-4616.2010.00298.x","doi":"https://doi.org/10.1111/j.1538-4616.2010.00298.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1538-4616.2010.00298.x","pdf_url":null,"source":{"id":"https://openalex.org/S2058785","display_name":"Journal of money credit and banking","issn_l":"0022-2879","issn":["0022-2879","1538-4616"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1","jufo-2","norway-2","poland-140","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Money, Credit and Banking","raw_type":"journal-article"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.676.2160","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.676.2160","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.cirje.e.u-tokyo.ac.jp/research/workshops/macro/macropaper09/macro1029.pdf","raw_type":"text"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.711.4411","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.711.4411","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://ihome.ust.hk/%7Ejennyxu/JMCBrevision2.pdf","raw_type":"text"},{"id":"pmh:oai:repository.hkust.edu.hk:1783.1-39853","doi":null,"is_oa":false,"landing_page_url":"http://repository.hkust.edu.hk/ir/Record/1783.1-39853","pdf_url":null,"source":{"id":"https://openalex.org/S4306401796","display_name":"Rare & Special e-Zone (The Hong Kong University of Science and Technology)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I200769079","host_organization_name":"Hong Kong University of Science and Technology","host_organization_lineage":["https://openalex.org/I200769079"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Article"},{"id":"pmh:oai:RePEc:mcb:jmoncb:v:42:y:2010:i:4:p:521-550","doi":null,"is_oa":false,"landing_page_url":"http://www.blackwell-synergy.com/doi/abs/10.1111/j.1538-4616.2010.00298.x","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":45,"referenced_works":["https://openalex.org/W1544401518","https://openalex.org/W1556678588","https://openalex.org/W1977056704","https://openalex.org/W1986277021","https://openalex.org/W1991285386","https://openalex.org/W1993886242","https://openalex.org/W2002928507","https://openalex.org/W2020257836","https://openalex.org/W2029184510","https://openalex.org/W2034517867","https://openalex.org/W2044849120","https://openalex.org/W2045564168","https://openalex.org/W2079326007","https://openalex.org/W2091945926","https://openalex.org/W2100480744","https://openalex.org/W2103434290","https://openalex.org/W2126640876","https://openalex.org/W2155143309","https://openalex.org/W2157281050","https://openalex.org/W2159692527","https://openalex.org/W2163082096","https://openalex.org/W2247596475","https://openalex.org/W2489512531","https://openalex.org/W2597761940","https://openalex.org/W2889865767","https://openalex.org/W2891512716","https://openalex.org/W2898075914","https://openalex.org/W2997237443","https://openalex.org/W3121278821","https://openalex.org/W3121623850","https://openalex.org/W3121986737","https://openalex.org/W3122295190","https://openalex.org/W3122311683","https://openalex.org/W3122394940","https://openalex.org/W3123135257","https://openalex.org/W3123608272","https://openalex.org/W3123786470","https://openalex.org/W3124319856","https://openalex.org/W3124694393","https://openalex.org/W3125064240","https://openalex.org/W3125881060","https://openalex.org/W4231645587","https://openalex.org/W4248182552","https://openalex.org/W4298060461","https://openalex.org/W4301439294"],"related_works":["https://openalex.org/W3121986737","https://openalex.org/W7019408577","https://openalex.org/W4245832527","https://openalex.org/W4242199978","https://openalex.org/W4232234780","https://openalex.org/W2100480744","https://openalex.org/W2762161963","https://openalex.org/W7165178381","https://openalex.org/W2295960823","https://openalex.org/W3119810816"],"abstract_inverted_index":{"The":[0],"U.S.":[1,44,59],"dollar":[2,48,54,74],"is":[3,49],"the":[4,13,40,43,47,89],"central":[5],"reference":[6,51],"currency":[7,16],"for":[8,17],"international":[9,77],"trade":[10],"pricing":[11],"and":[12,31,91],"main":[14],"invoicing":[15,55],"primary":[18,57],"commodities.":[19],"This":[20,69],"paper":[21],"links":[22],"these":[23],"two":[24],"observations":[25],"within":[26],"a":[27,36,50,73,83],"stylized":[28],"theoretical":[29],"framework,":[30],"shows":[32],"how":[33],"to":[34,42,72,87],"obtain":[35],"quantitative":[37],"estimate":[38],"of":[39,56],"gain":[41],"economy":[45],"when":[46],"currency.":[52],"With":[53],"commodities,":[58],"firms":[60],"bear":[61],"less":[62],"exchange":[63],"rate":[64],"risk":[65],"than":[66],"foreign":[67],"firms.":[68],"asymmetry":[70],"leads":[71],"standard":[75],"in":[76],"goods":[78],"pricing.":[79],"We":[80],"then":[81],"derive":[82],"simple":[84],"analytical":[85],"formula":[86],"calculate":[88],"gains":[90],"find":[92],"that":[93],"they":[94],"are":[95],"extremely":[96],"small.":[97]},"counts_by_year":[{"year":2022,"cited_by_count":2},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":2}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2016-06-24T00:00:00"}