glutʺ observed in the era of advancing financial globalization. The supposed paradox is that the developing world has … States’ position as issuer of the world’s premiere reserve currency and supremacy in global finance explain the related …

The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and … current account balance of the euro area has been by and large balanced. The paper finds that changes of world current account … Imbalances ; Asymmetric World Monetary System ; Twin Deficit ; Twin Surplus ; International Currency ; Sterilization ; Granger …

The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and … current account balance of the euro area has been by and large balanced. The paper finds that changes of world current account …

The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and …). The paper finds that the changes of the world current account positions are driven by the macroeconomic pol-icy decisions … contribute to rising saving surpluses. -- Global Imbalances ; Asymmetric World Monetary System ; Twin Deficit ; Twin Surplus …

This study divides the world into currency zones according to the co-movement of each currency with the key currencies … dollar zone. In such a world, the rise of another large economy poses the question not of relative size but rather of re …

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 …