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The Euro's Challenge to the Dollar : Different Views From Economists and Evidence From Cofer (Currency Composition of Foreign Exchange Reserves) and Other Data
Lim, Ewe-Ghee - 2006
This paper examines opposing views on the euro''s challenge to the dollar as an international currency. One view … also show the 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 …
Persistent link: https://www.econbiz.de/10014400290
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The Estonian Currency Board : Its Introduction and Role in the Early Success of Estonia's Transition to a Market Economy
Sutt, Andres - 2002
, 1992, Estonia became the first country from the former Soviet Union to abandon the Russian ruble and introduce its own … assesses the economic impact of the reform and also compares Estonia''s experience with that of its Baltic neighbors. It … concludes that although the currency board arrangement made an important contribution to the early success of Estonia …
Persistent link: https://www.econbiz.de/10014399419
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Macroeconomic Adjustment in a Highly Dollarized Economy : The Case of Cambodia
International Monetary Fund - 2002
Cambodia became dollarized suddenly in the early 1990s, as a result of massive dollar inflows stemming from a postconflict situation. Considering that the amount of dollars in circulation is unusually high, we attempt to estimate the true degree of dollarization empirically. Our results show...
Persistent link: https://www.econbiz.de/10014399652
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Cross-border currency exposures : new evidence based on an enhanced and updated dataset
Juvenal, Luciana; Gautam, Deepali; Bénétrix, Agustín; … - 2019
This paper provides a dataset on the currency composition of the international investment position for a group of 50 countries for the period 1990-2017. It improves available data based on estimates by incorporating actual data reported by statistical authorities and refining estimation methods....
Persistent link: https://www.econbiz.de/10012155206
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The cost of foreign exchange intervention : concepts and measurement
Adler, Gustavo; Mano, Rui C. - 2016
The accumulation of large foreign asset positions by many central banks through sustained foreign exchange (FX) intervention has raised questions about its associated fiscal costs. This paper clarifies conceptual issues regarding how to measure these costs both from an ex-post and an ex-ante...
Persistent link: https://www.econbiz.de/10011705681
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Global banks' dollar funding : a source of financial vulnerability
Barajas, Adolfo; Deghi, Andrea; Raddatz, Claudio E.; … - 2020
Leading up to the global financial crisis, US dollar activity by global banks headquartered outside the United States played a crucial role in transmitting shocks originating in funding markets. Although post-crisis regulation has improved banking systems' resilience, US dollar funding remains a...
Persistent link: https://www.econbiz.de/10012252271
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The stealth erosion of dollar dominance : active diversifiers and the rise of nontraditional reserve currencies
Arslanalp, Serkan; Eichengreen, Barry; Simpson-Bell, Chima - 2022
accompanied by an increase in the shares of the pound sterling, yen and euro, other long-standing reserve currencies and units …
Persistent link: https://www.econbiz.de/10013169914
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External liabilities and crises
Catão, Luis; Milesi-Ferretti, Gian Maria - 2013
Persistent link: https://www.econbiz.de/10009756807
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The External Balance Assessment (EBA) methodology
Phillips, Steven T.; Catão, Luis; Ricci, Luca Antonio; … - 2013
Persistent link: https://www.econbiz.de/10010389823
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External financing risks : how important is the composition of the international investment position?
Cubeddu, Luis; Ahmed Hannan, Swarnali; Rabanal, Pau - 2021
Building on the vast literature, this paper focuses on the role of the structure of the international investment position (IIP) in affecting countries' external vulnerabilities. Using a sample of 73 advanced and emerging economies and new database on the IIP's currency composition, we find that...
Persistent link: https://www.econbiz.de/10012517927