Matteo Maggiori on the Global Capital Allocation Project, Exorbitant Privilege, and Dollar Runs
Macro Musings with David Beckworth
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What Is the Right Way to Think About This?
Raht and i spent a lot of time trying to map tools to the question y, thinking about what is the right way to think about this. And we ended up using a set up of olega police, or competition among issuers under limited commitment. It turned out that from a technical perspective, thatthis had been already developed. Think about private n creation among iner issues within an economy and optimal inflation. Raht and i has some very interesting insight. Now let me try to make them as intrutive as i can. So suppose you wont to think about the us. And china now, and china is up in coming, and they start to issuing safasses
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