Matteo Maggiori on the Global Capital Allocation Project, Exorbitant Privilege, and Dollar Runs
Macro Musings with David Beckworth
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Is the Uro Zone a Threat to the Euro Zone?
The Uro zone wasn't providing a bunch of safe assets as an option, right? I mean, couldt things have been done differently in europe to maybe have slow down that move? Let me start with a fact, which i think we establish pretty carefully, which is the europe zone looks like any other economy, an not like the us. The vast majority of us get exactly as much foreign participation in a bond if they throw it out in dollar or in foreign currency. In europe, it's really just the very big firms that end up issuing in foreign currency and getting this foreign capital through the bond market.
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