Trade Invoicing, Bank Funding, and Central Bank Reserve Holdings
نویسندگان
چکیده
منابع مشابه
Trade Invoicing, Bank Funding, and Central Bank Reserve Holdings
In recent work (Gopinath and Stein 2017), we explore how a currency like the dollar can become entrenched as a dominant global currency, focusing on the two-way feedback between trade invoicing and banking structure. The basic idea is that when a larger share of a country’s imports are invoiced in dollars, its citizens have a greater demand for dollar-denominated safe claims. This in turn leads...
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ژورنال
عنوان ژورنال: AEA Papers and Proceedings
سال: 2018
ISSN: 2574-0768,2574-0776
DOI: 10.1257/pandp.20181065