TY  - BOOK
AU  - Aubin,Christian
AU  -  Léonard,Jacques
AU  -  Norel,Philippe
TI  - International Liquidity Generation and Exchange Rate Stabilization in a Bipolar International Regime
PY  - 2001///.
							
N1  - 20
N2  - The upsurge of the euro opens the possibility that two international currencies coexist. This paper focuses on the potential discordance between the demand and supply structures of international liquidity within a bipolar monetary regime. We show that the adjustment process intended to stabilize exchange rates is never neutral with respect to international liquidity. Controlling the effects of such a process on the dynamics of liquidity requires a specific rule between international currency issuers to share the burden of adjustment. Classification JEL: F33, F42
UR  - https://shs.cairn.info/journal-revue-economique-2001-2-page-371?lang=en
ER  -