IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Triffin Dilemma and Regional Monetary Approach : An Appraisal

Listed author(s):
  • Pierre-Hernan Rojas


    (LEDa SDFi - Université Paris Dauphine (Paris 9), PSL - Université Paris-Dauphine)

Robert Triffin (1960) was the first to formalize that , under the gold exchange standard , the key currency issuing country faced a dilemma. Either the United States would stop providing more dollar balances for international finance , leading to trade stagnation and deflationary bias in the global economy ; either the United States would continue to provide more of the international reserve currency , leading ultimately to a loss of confidence in the dollar. This paper shows that the formulation of this dilemma is the consequence of Triffin ' s early critics of the Bretton Woods system in the 1940s leading him to advocate a reform of the international monetary system at the regional level , ie. the European one , in the 1950s .

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by HAL in its series Working Papers with number hal-01298999.

in new window

Date of creation: 01 Mar 2016
Handle: RePEc:hal:wpaper:hal-01298999
Note: View the original document on HAL open archive server:
Contact details of provider: Web page:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

in new window

  1. Ivo Maes, 2013. "On the origins of the Triffin dilemma," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 20(6), pages 1122-1150, December.
  2. Helleiner, Eric, 2009. "Central bankers as good neighbours: US money doctors in Latin America during the 1940s," Financial History Review, Cambridge University Press, vol. 16(01), pages 5-25, April.
  3. Oscar L. Altman, 1961. "Professor Triffin on International Liquidity and the Role of the Fund," IMF Staff Papers, Palgrave Macmillan, vol. 8(2), pages 151-191, May.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:hal-01298999. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.