经济学家长期以来一直在争论,在实行布雷顿森林体系的那些年里,美元储备的增长是由“需求决定”(即由于其他国家中央银行需要增加它们的国际储备而引发)的,还是由“供给决定”(即由于美国货币供给加速而引发)的?你同意哪种观点?世界储备增加与世界性的通货膨胀之间有何联系?
Economists have long debated whether the growth of dollar reserve holdings in the Bretton Woods years was“demand-determined”(that is,determined by central banks' desire to add to their international reserves)or“supply-determined”(that is,determined by the speed of U.S. monetary growth).What would your answer be? What are the consequences for analyzing the relationship between growth in the world stock of international reserves and worldwide inflation?