A network game shows that central trade countries concentrate their currency use, which amplifies the liquidity incentives of the issuer and solidifies dominant currencies.
(1987): Power and centrality: A family of measures, American Journal of Sociology, 92, 1170--1182
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Trade Networks and the Rise of a Dominant Currency
A network game shows that central trade countries concentrate their currency use, which amplifies the liquidity incentives of the issuer and solidifies dominant currencies.