This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view … euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size alone is … insufficient to challenge the network externalities supporting vehicle currencies, but scope exists for the euro to advance as an …

Zum 1. Januar 1999 wird die dritte Stufe der Europäischen Währungsunion (EWU) vollzogen. Die Bedeutung des Euro wird in … des europäischen Finanzmarktes wird die internationale Verbreitung des Euro als Transaktions-, als Anlage- und Emissions …- sowie als Reservewährung zunehmen. Eine Gefährdung der US-amerikanischen Währung durch den Euro wird allerdings …

This study provides evidence that episodes of internal stability of exchange rates among the 11 Euro countries during … Euro on January 1, 1999, should be expected to contribute to reduced volatility of world commodity prices, other things …

estimation results show not only that volatilities are different between the two regimes but also that some of the cross …

derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national … currency with the euro, but can choose when to request permission to do so). For most of these countries, adopting the euro … convergence with the rest of the euro area. …