The role of the yen in the International financial system is reconsidered from a comparative (historical) approach …. Compared with the D-Mark in the postwar years, the limited use of the yen results not so much from regulations on capital … arrangement. Seen from the foreign economic relations, it is not possible for Japan to own a key-currency independent from the U …

This study divides the world into currency zones according to the co-movement of each currency with the key currencies … dollar zone. In such a world, the rise of another large economy poses the question not of relative size but rather of re …

The international monetary system is structurally instable. Furthermore, all official currencies in the world today are …, purely digital currency, fully backed by a standardized basket of the major commodities in world trade such as oil, copper …