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

dollar’s decline are the euro and the Chinese renminbi. The probability that the renminbi will eventually become one of the … world’s key currencies is very high, but the speed of the process is uncertain. As far as the euro is concerned, much will … 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 …

: the euro. This paper econometrically estimates determinants of the shares of major currencies in the reserve holdings of ….9). The advent of the euro interrupts the continuity of the historical data set. So we estimate parameters on pre-1999 data … dollar and euro over the period 1999-2004. Whether the euro might in the future rival or surpass the dollar as the world …