[20]Certain academics have created models to show that currency depreciations make holding a  unit unattractive and discourage its international use insofar as it will not be perceived as a reliable store of value. For example, see: Devereux, M. and Shi, S. (2013), “Vehicle Currency,” International Economic Review, Vol. 54(1), pp. 97–133.
[21]See Gourinchas, P.-O., Govillot, N. and Rey, H. (2011), “Exorbitant Privilege and Exorbitant  Duty”, Working Paper Series, University of California, Berkeley. See also Caballero, R., Farhi, E. and Gourinchas, P.-O. (2015), “Global Imbalances and Currency Wars at the ZLB,” NBER Working Paper, No 21670.