Quarterly Journal of Economics Vol. 78 No. 3 1964
The Costs and Benefits of the U.S. Role as a Reserve Currency Country
Abstract
Introduction, 442. — I. Benefits of the U.S. reserve currency role, 445; the flexibility advantage, 445; the income advantage, 446. — II. The costs of the U.S. reserve currency role, 447; the constraint on independent domestic policies, 447; the devaluation constraint, 450; the burden of supplying reserves to other countries, 452; the burden of managing private gold markets, 454. — III. Conclusion, 454.
- DOI
- 10.2307/1879476
- Volume
- 78
- Issue
- 3
- Pages
- 442
- Sources
- openalex crossref