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Nations experts were completing plans for a world monetary and financial system that they hoped would create a prosperous …, efficient global economy and avert economic tensions that might lead to another world war. Until the dollar crisis of 1971 … of unprecedented expansion of world trade and prosperity. Based on extensive research in previously unavailable sources …
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the early 1930s. In his view, the growth of foreign exchange reserves after World War Two repeated, but on a much larger … scale, their similar expansion after the First World War. Triffin argued that the gold exchange standard had been a highly …
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Why did monetary authorities hold large gold reserves under Bretton Woods (1944-1971) when only the US had to? We argue that gold holdings were driven by institutional memory and persistent habits of central bankers. Countries continued to back currency in circulation with gold reserves,...
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