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.

Type

Journal article

Intellectual base

Primary research

Year

1980

DOI

10.2307/1991793

Link

https://doi.org/10.2307/1991793

Cited from

economics_finance, synthesized

Cited by

2 citations across 2 artifacts.

Each citation links to the sentence it supports in the citing article.

Primes

• Blockage Release Dynamics
  • In economics, pent-up demand after rationing, a defended currency peg followed by a crisis at break, and short squeezes all compress accumulated imbalance into a sudden release.
• 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.

Verification

This reference passed the adversarial substantiation pipeline: it was checked to exist and to support the claim it is attached to. See how references were verified.

Registry ID ref:557666b4fe9c · see in the full table