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https://hdl.handle.net/10419/28948
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DC Field | Value | Language |
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dc.contributor.author | Campanella, Edoardo | en |
dc.date.accessioned | 2009-12-07 | - |
dc.date.accessioned | 2009-12-08T15:26:15Z | - |
dc.date.available | 2009-12-08T15:26:15Z | - |
dc.date.issued | 2009 | - |
dc.identifier.uri | http://hdl.handle.net/10419/28948 | - |
dc.description.abstract | Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of its double role of national and international currency. This is what I call the Triffin dilemma, an ever green concept in international finance. In the paper I show how it works through three examples: price of commodities, dollarization, and the international financial position of the US. I argue that to solve this situation, it would be important to create a more democratic monetary system, in which all the countries have a decision weight. In particular, I think that globalization and regionalization should be the two forces leading towards the new monetary system. The main economies should adopt the same currency through a system of fixed exchange rates (global money); developing countries should create regional monetary unions (regional money), preserving the real exchange rate as real shock absorber, but gaining in terms of time consistency and credibility. | en |
dc.language.iso | eng | en |
dc.publisher | |aKiel Institute for the World Economy (IfW) |cKiel | en |
dc.relation.ispartofseries | |aEconomics Discussion Papers |x2009-46 | en |
dc.subject.jel | F33 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Triffin dilemma | en |
dc.subject.keyword | global currency | en |
dc.subject.keyword | regional monetary union | en |
dc.subject.keyword | dollarization | en |
dc.subject.stw | Internationales Währungssystem | en |
dc.subject.stw | Reform | en |
dc.subject.stw | Globalisierung | en |
dc.subject.stw | Handelsregionalismus | en |
dc.subject.stw | Agent-based Model | en |
dc.subject.stw | Welt | en |
dc.subject.stw | Geldpolitik | en |
dc.subject.stw | Währungssubstitution | en |
dc.subject.stw | Reservewährung | en |
dc.subject.stw | US-Dollar | en |
dc.subject.stw | USA | en |
dc.title | The triffin dilemma again | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 614390877 | en |
dc.rights.license | http://creativecommons.org/licenses/by-nc/2.0/de/deed.en | en |
dc.identifier.repec | RePEc:zbw:ifwedp:200946 | en |
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