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RMB internationalization : onshore/offshore links

Maziad, Samar; Kang, Joong Shik - 2012

Persistent link: https://www.econbiz.de/10009615561

The international monetary system : where are we and where do we need to go?

Mohan, Rakesh; Patra, Michael Debabrata; Kapur, Muneesh - 2013

Persistent link: https://www.econbiz.de/10010389956

U.S. dollar currency premium in corporate bonds

Caramichael, John; Gopinath, Gita; Liao, Gordon Y. - 2021

We isolate a U.S. dollar currency premium by comparing corporate bonds issued in the dollar and the euro by firms o … without a currency hedge and about the same with a currency hedge when compared to the euro. This observed parity in currency … mix of their debt issuance depending on the relative borrowing cost between dollar and euro debt. In sum, the …

Persistent link: https://www.econbiz.de/10012605639

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

Do old habits die hard? : central banks and the Bretton Woods gold puzzle

Monnet, Eric; Puy, Damien - 2019

Why did monetary authorities hold large gold reserves under Bretton Woods (1944-1971) when only the US had to? We argue that gold holdings were driven by institutional memory and persistent habits of central bankers. Countries continued to back currency in circulation with gold reserves,...

Persistent link: https://www.econbiz.de/10012102163

Destabilizing the global monetary system : Germany's adoption of the gold standard in the early 1870s

Wiegand, Johannes - 2019

In 1871-73, newly unified Germany adopted the gold standard, replacing the silver-based currencies that had been prevalent in most German states until then. The reform sparked a series of steps in other countries that ultimately ended global bimetallism, id est, a near-universal fixed exchange...

Persistent link: https://www.econbiz.de/10012009318

Reserve currency blocs : a changing international monetary system?

Tovar, Camilo Ernesto; Mohd Nor, Tania - 2018

-polar system - consisting of the U.S. dollar and the euro - to a tri-polar one that includes the renminbi. The dollar bloc is …) and the euro blocs (20 percent). The geographical area of influence for the RMB bloc appears to be most evident among the …

Persistent link: https://www.econbiz.de/10011799270

The IMF's Reserves Template and Nominal Exchange Rate Volatility

Gonzalez-Garcia, Jesus - 2006

The effects of the adoption of the IMF''s International Reserves and Foreign Currency Liquidity Data Template on nominal exchange rate volatility are investigated for 48 countries. Estimation of panel data models indicates that nominal exchange rate volatility decreases following dissemination...

Persistent link: https://www.econbiz.de/10014400175

Rethinking the Governance of the International Monetary Fund

Mirakhor, Abbas - 2006

This paper attempts to set out the principal issues that need to be resolved in formulating a proposal for quotas and voice reform in the IMF that could command broad support. Following John Rawls, we argue that ""justice is the first virtue of social institutions,"" and we use his theory of...

Persistent link: https://www.econbiz.de/10014400266

Does the World Need a Universal Financial Institution?

Boughton, James M. - 2005

All financial institutions specialize, in dimensions that may include categories of assets and liabilities, types of services offered, customer demographics, and geographic coverage. The International Monetary Fund is the only international financial institution that is universal in its...

Persistent link: https://www.econbiz.de/10014400845