We study credible information transmission by a benevolent Central Bank. We consider two possibilities: direct … transmitting information have very different consequences. Since the objectives of the Central Bank and those of individual … investors are not always aligned, private investors might rationally ignore announcements by the Central Bank. In contrast …

-2003, attempting to understand motives for issuing in foreign currency, and determinants for the choice of currency. We consider the … following influences on the currency choice when issuing foreign currency denominated debt: the microeconomic characteristics of … addition to cost minimisation, hedging motives and the desire to establish an investor base influences the choice of currency …

of one settlement currency in such markets. The alleged dominance of the dollar in global oil markets is said to …

stability of invoicing currency patterns. But the evidence also points to several novel stylised facts. First, both the US … the euro area has declined. Second, the euro is used as a vehicle currency in parts of Africa, and some European countries … have seen significant shifts toward euro invoicing. And third, as suggested by the dominant currency paradigm, countries …

We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency … invoicing. Our approach uses a compositional multinomial logit model, in which currency choice is explained by both currency … countries for the 1996-2006 period. We find that eurozone countries have substantially increased their share of home currency …

economy. The measure of a currency's global role is based on the size and stage of development of the underlying economy, as … currency. The paper applies the concept to 22 currencies of advanced and emerging economies. The results confirm the well … measure in detail, arguing that in view of financial globalisation, an indicator based on currency shares in the international …

. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation …

modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross …-check for monetary policy. We identify an important source of monetary trends in form of persistent central bank misperceptions … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived …