Robert Triffin (1911-1993) was one of the main protagonists in the international monetary debates in the postwar period … Bretton Woods system. In his analysis there, Triffin was very much marked by the breakdown of the gold exchange standard in … scale, their similar expansion after the First World War. Triffin argued that the gold exchange standard had been a highly …

for emerging Asia. In the first scenario, the authors assume that a persistent increase in emerging Asia's productivity … share of emerging Asia's growth might be fuelled by a temporary demand shock generates a strong "boom-bust" outcome for … emerging Asia, and amplifies the volatility in commodity markets. The authors also investigate the possibility that emerging …

's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three …), preserving the real exchange rate as shock absorber, but gaining in terms of time consistency and credibility. -- Triffin dilemma …