The Use of the Yen as a Reserve Currency

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Peter M. Garber;
  • Journal: Monetary and Economic Studies,volume 14,issue 2 December,pages1-21
  • Subject: Reserve currency;Internationalization;Market liquidity;Transaction tax; Securities settlement

The depreciation of the U.S. dollar in 1995 rekindled discussion about the organization of the international monetary system, including calls to expand the roles of the yen and the deutsche mark as reserve currencies. The yen has not assumed a greater role because suffi... View more
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