Can the same problem arise under a reserve currency, Macroeconomics

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Can the same problem arise under a reserve currency

Under a gold standard, countries may adopt excessively contractionary monetary policies as all countries scramble in vain for a larger share of the limited supply of world gold reserves.

Can the same problem arise under a reserve currency standard when bonds denominated in different currencies are all perfect substitutes?

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Macroeconomics: Can the same problem arise under a reserve currency

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Macroeconomics: Can the same problem arise under a reserve currency

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