Vehicle Currencies and the Structure of International Exchange¶
Krugman, P. (1980). Vehicle Currencies and the Structure of International Exchange. Journal of Money, Credit and Banking, 12(3), 513-526.
Cited by¶
1 citation across 1 artifact.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Common-Medium Intermediation
- In travel and payment it is international card schemes and a dominant reserve currency, letting participants transact in one accepted instrument rather than maintaining bilateral arrangements.
This sourceModels international/reserve currencies as a common medium of payment sustained by network externalities and circular causation — a currency is used because others use it — replacing bilateral arrangements.
- In travel and payment it is international card schemes and a dominant reserve currency, letting participants transact in one accepted instrument rather than maintaining bilateral arrangements.
Verification¶
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Does it back the claim? Not recorded. The single citation of this work carries no recorded support check.
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