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Published in:
1989 | OriginalPaper | Chapter
The US as the World’s No. 1 Foreign Debtor: Causes and Consequences
Author : Jacob Cohen
Published in: Economic Development and World Debt
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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The chapter aims at offering an integrated treatment of the US foreign and domestic debt. The important common element is that both types of debt are for the most part denominated in US dollars.1 The underlying similarity has been lost sight of because the foreign-held debt has unique implications for the exchange rate.