Bação, Pedro; Durate, António Portugal; Simões, Mariana - Grupo de Estudos Monetários e Financeiros (GEMF), … - 2013
This paper analyses the architecture of the International Monetary System (IMS) and the role of reserve currencies in it. We begin by describing the evolution of the IMS from the Gold Standard to the Bretton Woods system and the European integration process that led to the creation of the euro....