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-euro area assets/liabilities, before stage 3 of EMU. A number of key factors determining the currency distribution of … a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the euro during 1999 compared to the aggregate of euro predecessor currencies, net of intra …
Persistent link: https://www.econbiz.de/10009767695
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/10013069527
economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US … have a statistically but also an economically significant impact on the euro, and to a lesser extent the yen against the US … the appreciation of the euro against the US dollar in recent years. Interestingly, EME policy-makers appear to have become …
Persistent link: https://www.econbiz.de/10003825947
The paper evaluates the present and future international currency status of the US dollar, the euro and the yen. In … determinants for the continuous dominance of the US dollar are analysed in order to assess the sustainability of this regime. Since … integration of European financial markets emphasizing the enormous structural changes that came about since the euro has been …
Persistent link: https://www.econbiz.de/10013136590
economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US … have a statistically but also an economically significant impact on the euro, and to a lesser extent the yen against the US … the appreciation of the euro against the US dollar in recent years. Interestingly, EME policy-makers appear to have become …
Persistent link: https://www.econbiz.de/10012749953
recessions, the demand for U.S. safe assets increases and raises their convenience yields, giving rise to stronger dollar and …
Persistent link: https://www.econbiz.de/10015048365
We provide an overview of the recent developments of the literature on the determinants of long-term capital flows, global imbalances, and valuation effects. We present the main stylized facts of the new international financial landscape in which external balance sheets of countries have grown...
Persistent link: https://www.econbiz.de/10014025376
Persistent link: https://www.econbiz.de/10001596264
Persistent link: https://www.econbiz.de/10001546743
Persistent link: https://www.econbiz.de/10001549330