The International Monetary and Financial System by Pierre-Olivier Gourinchas, Hélène Rey and Maxime Sauzet published by NBER, indicated by Alvaro Manoel (4/2019). “…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, of the exorbitant privilege, and analyze the emergence of a new ‘Triffin dilemma'”.
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