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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...
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benign neglect towards monetary policy reform in a world dominated by financial markets has led to a erosion of the … hysteresis of low interest rates and high government debt levels. In this context, monetary reform is discussed with respect to … the exit from low interest rates and high debt policies and a reform of the prevalent world monetary system. It is …
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This paper analyzes institutional arrangements for exchange rate systems and reviews what we know. It looks at the foreign exchange market, different balance of payment situations in which countries find themselves and the necessary exchange rate adjustments. It studies the options that are...
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