IT MAY BE OUR CURRENCY, BUT IT'S YOUR PROBLEM

Barry Eichengreen

Australian Economic History Review, 2011, vol. 51, issue 3, 245-253

Abstract: The dollar's dominance of international transactions and role as a reserve currency is an exorbitant privilege that is a burden as well as a blessing for the US. It achieved this dominance early in the twentieth century, quite quickly in fact; it may also see that status change equally quickly were the world to move to a multipolar system of currencies. Among the most likely candidates for reserve currencies in such a world are the dollar, the euro, and the Chinese renminbi, Barry Eichengreen explained in his Butlin Lecture earlier in 2011.

Date: 2011
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