euro and the Chinese renminbi (RMB). It focuses on what we call China’s “dominance hypothesis”, i.e. whether the renminbi …

world’s key currencies is very high, but the speed of the process is uncertain. As far as the euro is concerned, much will … dollar’s decline are the euro and the Chinese renminbi. The probability that the renminbi will eventually become one of the … result in radical steps towards fiscal and financial integration. If such steps are taken, the euro will secure both internal …

default. It is argued that the current crisis in Europe illustrates why the euro is not a real contender for hegemony in the …

, actual developments in exchange relations already give reason to expect that the world's currency regime is changing. Recent … banks, have reinforced other eastward trends in the world economy. In this paper, China's acceleration of renminbi …

displacement of the prevalent world monetary system. Enhanced competition between dollar and euro as international currencies … monetary policy reform in a world dominated by financial markets has led to the erosion of the allocation and signaling … world economy. The backlash of high government debt levels on monetary policy making is argued to have led to a hysteresis …

dollar and euro over the period 1999-2004. Whether the euro might in the future rival or surpass the dollar as the world …: the euro. This paper econometrically estimates determinants of the shares of major currencies in the reserve holdings of … the world's central banks. Significant factors include: size of the home country, inflation rate (or lagged depreciation …

the world economy. This matter is settled by arguing that the global imbalances acted as a "handmaiden" to the 2008 …