27 - Claudio Borio on Financial Stability, the Triffin Dilemma, and International Monetary Policy
Macro Musings with David Beckworth
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Is There a Relationship Between Savings and Financing?
The dollar is used as a unit of account in half of globl trades. 60% of private sector international assets and liabilities are held outside the united states. The United States has so much influence on financial conditions outside us, that it can have a direct impact on our own economic well-being. And if you compare the three international carences back to how they were when we first came into contact with each other more than 100 years ago, there's no real relationship between saving d and financing.
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