Gourinchas, P-O, Rey, H and Sauzet, M (2019) The International Monetary and Financial System. Annual Review of Economics, 11 (1). pp. 859-893. ISSN 1941-1383
Official URL: https://www.annualreviews.org/doi/abs/10.1146/annu...
Abstract
International currencies fulfill different roles in the world economy, with important synergies across those roles. We explore the implications of currency hegemony for the external balance sheet of the United States, the process of international adjustment, and the predictability of the US dollar exchange rate. We emphasize the importance of international monetary spillovers and of the exorbitant privilege, and we analyze the emergence of a new Triffin dilemma.
More Details
Item Type: | Article |
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Subject Areas: | Economics |
Additional Information: |
© 2019 Annual Reviews |
Date Deposited: | 16 Dec 2019 20:18 |
Subjects: |
Currency markets Exchange rates |
Last Modified: | 04 Dec 2024 02:58 |
URI: | https://lbsresearch.london.edu/id/eprint/1309 |