BoE working paper examines ‘exorbitant privilege’ benefits
A working paper published by the Bank of England (BoE) has concluded the US would be caught in a “bubble of equilibrium” if it was not for the ‘exorbitant privilege’ it holds as the world’s dominant reserve currency.
Examining differences between the UK (1871–1914) and the US (after 1945) in terms of the benefits both enjoyed while issuing a global reserve currency, Carlos Eduardo van Hombeeck reveals a creditor country (UK) enjoyed different benefits to its US successor (now a debtor country)
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com