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International Sanctions and Dollar Dominance

Javier BianchiCesar Sosa Padilla

出版	National Bureau of Economic Research, 2023
URL	http://books.google.com.hk/books?id=YZ7izwEACAAJ&hl=&source=gbs_api

註釋

We propose a simple monetary model to investigate the implications of international financial sanctions for the reserve currency status of the US dollar. We show how the anticipation of financial sanctions can reduce the US dollar convenience yield and the holdings of US dollar reserves. We also evaluate the implications for welfare and show that they are generally detrimental for all countries.