Dollar Demand, Offshore Finance, and the External Constraint
Maurice Obstfeld opens his recent PIIE note with a crisp proposition: the world does not need America’s current-account deficit to satisfy excess demand for dollars. In the narrow…
Maurice Obstfeld opens his recent PIIE note with a crisp proposition: the world does not need America’s current-account deficit to satisfy excess demand for dollars. In the narrow…
A good way to visualize the effects of the international monetary system during the Bretton Wood era is to plot exchange rates over a long run period for…
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