Dollar Erosion: Understanding the Loss of Reserve Currency Status
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We quantify the impact of the loss of reserve currency status in goods and asset markets. In goods markets, the loss of seigniorage (1% of GDP per annum) makes American households spend less, mostly on U.S. goods, leaving an excess supply of U.S. goods to be cleared by a real depreciation of the
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美国国家经济研究局创建时间：
2026-06-01
