The widespread dollar gap after the Second World War (1945).
leading national economists that in trade between Europe and the U.S.A., Europe’s partner was constantly in deficit. In most cases, only Switzerland was excluded from this view because – due to special institutional conditions such as banking secrecy as a financial center, Switzerland attracts money from all over the world for investment purposes, and – the degree of added value (net value added) of domestically produced goods (watches, precision mechanics, pharmaceuticals) is exceptionally high. – In 2010, contrary to these fears, the U.S. ranked third among German export markets, just behind the Netherlands. – Bank funding imbalance in USD; assets denominated in USD exceed corresponding liabilities. – See Gnomen von Zürich, Helvetophobia, Unit Value Ratio. – Cf. Financial Stability Report
2011, pp. 58 et seq. (Dollar refinancing gap of German banks and its reasons; overview).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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