NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Reserves and Baskets

Michael D. Bordo, Harold James

NBER Working Paper No. 17492
Issued in October 2011
NBER Program(s):   DAE   ME

We discuss three well known plans that were offered in the twentieth century to provide an artificial replacement for gold and key currencies as international reserves: Keynes’ Bancor, the SDR and the Ecu( predecessor to the euro).The latter two of these reserve substitutes were institutionalized but neither replaced the dollar as the principal medium of international reserve.

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Acknowledgments

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Published: Michael Bordo & Harold James, 2012. "Reserves and Baskets," Open Economies Review, Springer, vol. 23(1), pages 113-127, February.

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