2 papers
econ.TH2025
Trade Networks and the Rise of a Dominant Currency
Tomoo Kikuchi, Lien Pham
We develop a model where currency issuers provide liquidity, while users in a trade network choose currency usage for trade settlement. We identify a feedback mechanism where a use…
econ.GN2020
Transitional Dynamics of the Saving Rate and Economic Growth
Markus Brueckner, Tomoo Kikuchi, George Vachadze
We estimate the relationship between GDP per capita growth and the growth rate of the national savings rate using a panel of 130 countries over the period 1960-2017. We find that G…