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dc.contributor.authorCampanella, Edoardoen_US
dc.date.accessioned2009-12-07en_US
dc.date.accessioned2009-12-08T15:26:15Z-
dc.date.available2009-12-08T15:26:15Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/28948-
dc.description.abstractTiny 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.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesEconomics Discussion Papers 2009-46en_US
dc.subject.jelF33en_US
dc.subject.ddc330en_US
dc.subject.keywordTriffin dilemmaen_US
dc.subject.keywordglobal currencyen_US
dc.subject.keywordregional monetary unionen_US
dc.subject.keyworddollarizationen_US
dc.subject.stwInternationales Währungssystemen_US
dc.subject.stwReformen_US
dc.subject.stwGlobalisierungen_US
dc.subject.stwHandelsregionalismusen_US
dc.subject.stwAgent-based Modelen_US
dc.subject.stwWelten_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwWährungssubstitutionen_US
dc.subject.stwReservewährungen_US
dc.subject.stwUS-Dollaren_US
dc.subject.stwUSAen_US
dc.titleThe triffin dilemma againen_US
dc.typeWorking Paperen_US
dc.identifier.ppn614390877en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifwedp:200946-
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

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