Tervala, Juha - Volkswirtschaftliche Fakultät, … - 2014
-peg their currencies to the dollar. I evaluate the value of the dollar peg as a fraction of consumption that households would be … willing to pay for the dollar peg to remain as well off under the dollar peg as under a flexible exchange rate. The value of … the dollar peg is positive for the dollar bloc because the U.S. can no longer improve its terms of trade at the dollar …