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dc.contributor.authorCampanella, Edoardoen_US
dc.date.accessioned2010-09-01en_US
dc.date.accessioned2010-09-03T14:55:46Z-
dc.date.available2010-09-03T14:55:46Z-
dc.date.issued2010en_US
dc.identifier.citationEconomics: The Open-Access, Open-Assessment E-Journal 4 2010-25 1-18 doi:10.5018/economics-ejournal.ja.2010-25en_US
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2010-25-
dc.identifier.urihttp://hdl.handle.net/10419/39691-
dc.description.abstractTiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the international financial position of the US. And it makes a proposal to solve these issues, creating a more stable monetary system. In particular, it suggests the creation of an international monetary system of block regional currencies. Globalization and regionalization should be the two forces leading towards the new monetary system. The US and Europe should consider to adopt the same currency through a system of fixed exchange rates (global currency). This currency should perform its duty of anchor of the system, reducing global imbalances and gyrations in price of commodities. Developing countries, by contrast, should create regional monetary unions (regional currencies), preserving the real exchange rate as 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 2010-25en_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.stwWährungsraumen_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.typeArticleen_US
dc.identifier.ppn634355066en_US
dc.identifier.urlhttp://www.economics-ejournal.org/economics/journalarticles/2010-25en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifweej:201025-
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles

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