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On the twentieth anniversary of its inception, the euro has yet to expand its role as an international currency. We document this fact with a wide range of indicators including its role as an anchor or reference in exchange rate arrangements—which we argue is a portmanteau measure—and as a...
Persistent link: https://www.econbiz.de/10012841416
This study divides the world into currency zones according to the co-movement of each currency with the key currencies … dollar zone. In such a world, the rise of another large economy poses the question not of relative size but rather of re …
Persistent link: https://www.econbiz.de/10012893452
The use of international currencies in the global financial system is not symmetric: while a few currencies have been primarily used as investing currencies, a few others have mostly served as funding currencies; only a handful have a better balance functioning as both investing and funding...
Persistent link: https://www.econbiz.de/10013030221
The international monetary system is structurally instable. Furthermore, all official currencies in the world today are …, purely digital currency, fully backed by a standardized basket of the major commodities in world trade such as oil, copper …
Persistent link: https://www.econbiz.de/10012944673
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looking at the issues of monetary movement around the world, this book shows that there are clearly visible patterns behind ….S. Dollar Go? -- Chapter 23. Where will Chinese Yuan Go? -- Chapter 24. Avoiding Currency Wars with a Single World Currency? …
Persistent link: https://www.econbiz.de/10012397681
The scholarly debate on currency internationalization focuses on country characteristics and policies as the main determinants in currency competition. However, this literature has neglected the fact that, given the intertwined nature of the international monetary system, other countries'...
Persistent link: https://www.econbiz.de/10012504500
advocate -- Japan: a diplomatic user of the renminbi -- South Korea: a late but active accommodator -- The United States: a … concept of reactive currency statecraft. It then applies this framework to the four select cases of the United Kingdom, Japan … response to the renminbi's internationalization has been accommodative. Even the United States and Japan-China's chief …
Persistent link: https://www.econbiz.de/10012533751
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