Liquidity, Debt Denomination, and Currency Dominance
收藏NBER2023-02-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w30984
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资源简介：
The international monetary system of the last four centuries has experienced the rise, persistence, and fall of specific currencies as the dominant unit of denomination in global debt contracts. We argue that a liquidity-based theory is necessary to explain this pattern. Firms issue debt that can be
提供机构：
美国国家经济研究局
创建时间：
2023-02-01
