Dollar Invoicing and the Heterogeneity of Exchange Rate Pass-Through. Gita Gopinath, 2019, Paper, “The vast majority of international goods trade is invoiced in a dominant currency, which is most often the U.S. dollar (Goldberg and Tille (2008); Gopinath (2015); Casas et al. (2016); Boz, Gopinath and Plagborg-Møller (2017)). Accordingly, the dominant currency paradigm (DCP) bargained transactions the empirically relevant framework for analyzing trade responses to exchange rate fluctuations and international spillovers of monetary policy. The theoretical framework underlying DCP predicts that pass through from exchange rates to prices or quantities should vary across countries, depending on the share of imports invoiced in dollars.Link