This series evidence has been used to analyse the effect of trade on foreign holdings of domesticcurrency. Here we extend a model of currency substitution that incorporates a trade motive forforeigners to hold domestic currency. It uses time series and cross-sectional information for apanel of...

This highly topical book examines the development and future prospects for economic and monetary union in Europe. European Monetary Integration examines the background to economic and monetary union from a historical perspective that distinguishes between national and supranational currency...

This important book provides an up-to-date assessment and survey of the most important recent theoretical and empirical work on exchange rates.

The Macroeconomics of International Currencies examines both the theoretical and empirical consequences of currency substitution and assesses its importance for policy debates. The editors have brought together contributors with international reputations in the field who have the knowledge and...