Trade War and the Dollar Anchor
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We develop a general-equilibrium model in which the safety of a country's currency and the choice of its exchange-rate regime arise endogenously. Calibrated to pre-2025 data, the model replicates the U.S. dollars safety premium, low Treasury yields, and its status as the world's anchor currency.
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美国国家经济研究局创建时间：
2025-10-01
