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dc.contributor.authorCampanella, Edoardoen
dc.date.accessioned2010-09-01-
dc.date.accessioned2010-09-03T14:55:46Z-
dc.date.available2010-09-03T14:55:46Z-
dc.date.issued2010-
dc.identifier.citation|aEconomics: The Open-Access, Open-Assessment E-Journal|c1864-6042|v4|h2010-25|nKiel Institute for the World Economy (IfW)|lKiel|y2010|p1-18en
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2010-25en
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.subject.jelF33en
dc.subject.ddc330en
dc.subject.keywordTriffin dilemmaen
dc.subject.keywordglobal currencyen
dc.subject.keywordregional monetary unionen
dc.subject.keyworddollarizationen
dc.subject.stwInternationales Währungssystemen
dc.subject.stwReformen
dc.subject.stwGlobalisierungen
dc.subject.stwHandelsregionalismusen
dc.subject.stwWährungsraumen
dc.subject.stwWelten
dc.subject.stwGeldpolitiken
dc.subject.stwWährungssubstitutionen
dc.subject.stwReservewährungen
dc.subject.stwUS-Dollaren
dc.subject.stwUSAen
dc.titleThe Triffin dilemma again-
dc.typeArticleen
dc.identifier.ppn634355066en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifweej:201025en
econstor.citation.journaltitleEconomics: The Open-Access, Open-Assessment E-Journalen
econstor.citation.issn1864-6042en
econstor.citation.volume4en
econstor.citation.issue2010-25en
econstor.citation.publisherKiel Institute for the World Economy (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year2010en
econstor.citation.startpage1en
econstor.citation.endpage18en

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