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It May Be Our Currency, But It'S Your Problem

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  • BARRY EICHENGREEN

Abstract

The dollar's dominance of international transactions and role as a reserve currency is an exorbitant privilege that is a burden as well as a blessing for the US. It achieved this dominance early in the twentieth century, quite quickly in fact; it may also see that status change equally quickly were the world to move to a multipolar system of currencies. Among the most likely candidates for reserve currencies in such a world are the dollar, the euro, and the Chinese renminbi, Barry Eichengreen explained in his Butlin Lecture earlier in 2011.

Suggested Citation

  • Barry Eichengreen, 2011. "It May Be Our Currency, But It'S Your Problem," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 51(3), pages 245-253, November.
    • Handle: RePEc:bla:ozechr:v:51:y:2011:i:3:p:245-253
    DOI: j.1467-8446.2011.00334.x
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