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A Practical Approach to International Monetary System Reform: Building Settlement Infrastructure for Regional Currencies
Rhee, Changyong; Sumulong, Lea - 2013
the current global financial system. Asia was adversely affected by the crisis not only because of its dependence on trade …, but also because of its heavy reliance on the US dollar for regional and international transactions. As Asia's role in the … markets, and is more politically feasible in transition. As such, extending the trade settlement scheme to the rest of Asia …
Persistent link: https://www.econbiz.de/10011432695
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Regional settlement infrastructure and currency internationalization: The case of Asia and the renminbi
Rhee, Changyong; Sumulong, Lea - 2014
inherent in the current global financial system. Asia was adversely affected by the crisis not only because of its dependence … on trade, but also because of its heavy reliance on the US dollar for regional and international transactions. As Asia …, extending the trade settlement scheme to the rest of Asia and appending a government bond payment and securities settlement …
Persistent link: https://www.econbiz.de/10010397306
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Monetary Policy Reform in a World of Central Banks
Schnabl, Gunther - 2012
moderated by East Asia is proposed to constitute a more stable international monetary system. …
Persistent link: https://www.econbiz.de/10010334476
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International monetary policy spillovers in an asymmetric world monetary system - The United States and China
Spantig, Kristina - 2012
The paper scrutinizes the spillover effects of expansionary monetary policies of a center economy to the macroeconomic policies of periphery countries, dependent on the exchange rate regime. In particular the impact of the US quantitative easing on the Chinese economy is analysed. The results...
Persistent link: https://www.econbiz.de/10010334519
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Die Internationalisierung des chinesischen Renminbi: eine Chance für China
Stier, Olaf; Bernoth, Kerstin; Fisher, Alexander - In: DIW Wochenbericht 77 (2010) 20, pp. 10-15
Geldpolitik und ein freier Devisenhandel sind zwei der Eckpfeiler eines modernen Finanzwesens. Die Liberalisierung der …
Persistent link: https://www.econbiz.de/10011602172
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Monetary and Financial Thinking in Europe: Evidence from Four Decades of SUERF
Abraham, Jean-Paul - 2003
2003 marks the 40th anniversary of the founding of SUERF. To mark this milestone, some time ago the Council of Management commissioned Professor Jean-Paul Abraham to write a commemorative report. His mandate was not to write a history of SUERF itself (that would be too self-indulgent) but to...
Persistent link: https://www.econbiz.de/10011689909
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China's dominance hypothesis and the emergence of a tri-polar global currency system
Fratzscher, Marcel; Mehl, Arnaud - 2011
is already the dominant currency in Asia, exerting a large influence on exchange rate and monetary policies in the region … the RMB has become a key driver of currency movements in emerging Asia since the mid-2000s, and even more so since the … affected by those in the rest of Asia. …
Persistent link: https://www.econbiz.de/10011605438
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The international monetary system after the financial crisis
Dorrucci, Ettore; McKay, Julie - 2011
The main strength of today’s international monetary system – its flexibility and adaptability to the different needs of its users – can also become its weakness, as it may contribute to unsustainable growth models and imbalances. The global financial crisis has shown that the system cannot...
Persistent link: https://www.econbiz.de/10011606275
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The threat of 'currency wars': A European perspective
Darvas, Zsolt; Pisani-Ferry, Jean - 2011
The 'currency war', as it has become known, has three aspects: 1) the inflexible pegs of undervalued currencies; 2) recent attempts by floating exchange-rate countries to resist currency appreciation; 3) quantitative easing. Europe should primarily be concerned about the first issue, which...
Persistent link: https://www.econbiz.de/10010494451
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The Eurosystem in the international monetary system : the European Monetary Union
Padoa-Schioppa, Tommaso - In: CESifo Forum 01 (2000) 2, pp. 18-25
Persistent link: https://www.econbiz.de/10011695619