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Institut für Weltwirtschaft (IfW), Kiel >
Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers >
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http://hdl.handle.net/10419/28948
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Campanella, Edoardo | | en_US |
| dc.date.accessioned | | 2009-12-07 | | en_US |
| dc.date.accessioned | | 2009-12-08T15:26:15Z | | - |
| dc.date.available | | 2009-12-08T15:26:15Z | | - |
| dc.date.issued | | 2009 | | en_US |
| 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_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Kiel Institute for the World Economy (IfW) Kiel | | en_US |
| dc.relation.ispartofseries | | Economics Discussion Papers 2009-46 | | en_US |
| dc.subject.jel | | F33 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Triffin dilemma | | en_US |
| dc.subject.keyword | | global currency | | en_US |
| dc.subject.keyword | | regional monetary union | | en_US |
| dc.subject.keyword | | dollarization | | en_US |
| dc.subject.stw | | Internationales Währungssystem | | en_US |
| dc.subject.stw | | Reform | | en_US |
| dc.subject.stw | | Globalisierung | | en_US |
| dc.subject.stw | | Handelsregionalismus | | en_US |
| dc.subject.stw | | Agent-based Model | | en_US |
| dc.subject.stw | | Welt | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Währungssubstitution | | en_US |
| dc.subject.stw | | Reservewährung | | en_US |
| dc.subject.stw | | US-Dollar | | en_US |
| dc.subject.stw | | USA | | en_US |
| dc.title | | The triffin dilemma again | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 614390877 | | en_US |
| dc.rights.license | | http://creativecommons.org/licenses/by-nc/2.0/de/deed.en | | - |
| dc.identifier.repec | | RePEc:zbw:ifwedp:200946 | | - |
| Appears in Collections: | | Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers
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