A tripolar international monetary system-centered on the U.S. dollar, the deutsche mark, and the yen - appears to be … emerging. This paper not only assesses the role of the yen as an international currency but also presents a unified theory of …

Upon entry into the European Union, countries become members of the Economic and Monetary Union (EMU), with a … 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 …