International Currency: Myths and Realities

• Autores: Barry Eichengreen
• Localización: Journal of European Economic History, ISSN 0391-5115, Vol. 52, Nº. 3, 2023, págs. 9-42
• Idioma: inglés
• Enlaces
  • Texto completo
• Resumen

  • The commentariat is abuzz about changes to the international monetary system and challenges to the dollar’s role as the domi- nant international currency. Of course, critics of dollar dominance are always predicting that change is at hand, since they assume that the status quo is unsustainable. Almost 20 years ago, in 2004, The Economist’s financial columnist Buttonwood, citing chronic U.S.

    current account deficits, warned that “the game that has been played since the collapse of the Bretton Woods system in the early 1970s is drawing to a close.