The aim of this paper is to discuss excess comovements for the Euro/US dollar and British pound/US dollar exchange …

currencies can be treated as the same asset if their exchange rates vis-à-vis the same base currency are cointegrated with a … yield that periods of strong comovements of the US dollar and Pound sterling based upon the Euro prevail during the 1990s … and periods of comovements of Euro and Pound sterling denominated in US dollar prevail since the introduction of the Euro …

Indeed, the specification of equilibrium in the world economy depends on the exchange rate regime and thus, the early … foreign exchange markets. However, the world has known several exchange rate systems beginning with the fixed-gold standard … exchange was deregulated, independent traders finally had access to the biggest trading market of the world; and these forex …

integration process that led to the creation of the euro. We then discuss the role played by the euro in the IMS as an … international reserve currency. Drawing on econometric estimations, we extrapolate the evolution of the shares in international … reserves of the euro, the US dollar and the renminbi. In the discussion, we take into account the current sovereign debt crisis …

is devoted to the concept of a regional reserve currency, and the definition of the specific factors affecting the … upgrading of the currency status. The authors assess the role of regional reserve currencies in international transactions and … the Russian ruble and turn it into a regional reserve currency. …

their required compensation for holding currency risk, thus impacting both the level and volatility of exchange rates. Our … currency interventions and taxation of capital flows, can be welfare improving. Our framework is flexible; it accommodates a …