This CEPR report presents concrete proposals aimed at improving the international provision of liquidity in order to limit the effects of individual and systemic crises and decrease their frequency.
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Table of Contents
2 What Future for the US Hegemon?
3 Inefficiencies Due to the Accumulation of Reserves and to Financial Instability
4 Addressing Inefficiencies with Proposals for Reform
5 The Financial Account of Emerging Countries
Appendix: Foreign Exchange Reserves