27 - Claudio Borio on Financial Stability, the Triffin Dilemma, and International Monetary Policy
Macro Musings with David Beckworth
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What Can Be Done to the International Monetary System?
Dollar is a preserve currency for now. But give a few years, maybe a few decades, the ura and the chinese u on wt will be there as well. I think we have made most advances on the prudential and regulatory side with this macroprudential frameworks. In particular, we are still quite some way off both in the monetry, let alonean on the fiscal side. And then you could go even further, which is to instil more rules of the game that would help to instil discipline at national level.
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