An increasing role for the ECU
Author | : R. S. Masera |
Publisher | : |
Total Pages | : 0 |
Release | : 1986 |
Genre | : |
ISBN | : |
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Author | : R. S. Masera |
Publisher | : |
Total Pages | : 0 |
Release | : 1986 |
Genre | : |
ISBN | : |
Author | : Rainer Stefano Masera |
Publisher | : |
Total Pages | : 40 |
Release | : 1986 |
Genre | : |
ISBN | : |
Author | : R. S. Masera |
Publisher | : |
Total Pages | : 30 |
Release | : 1986 |
Genre | : Balance of trade |
ISBN | : 9780881650693 |
Author | : Antonio Di Majo |
Publisher | : |
Total Pages | : 0 |
Release | : 1986 |
Genre | : Balance of payments |
ISBN | : |
Author | : Banca d'Italia |
Publisher | : |
Total Pages | : 0 |
Release | : 1986 |
Genre | : |
ISBN | : |
Author | : Susan J. Whitson |
Publisher | : |
Total Pages | : 114 |
Release | : 1988 |
Genre | : United States |
ISBN | : |
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 25 |
Release | : 2016-07-15 |
Genre | : Business & Economics |
ISBN | : 1498345441 |
Following the recent diagnostic of the international monetary system (IMS), the IMF will explore whether a broader role for the SDR could contribute to its smooth functioning. The economic rationale for or against broader use of the SDR will be examined, focusing in particular on identifying any gaps and market failures the SDR could help address in light of the increasingly multi-polar nature of the global economy and growing financial interconnectedness. This note sets out some initial considerations on this matter. The note sketches some key issues bearing on the role of the SDR in each of three concepts: (i) the official SDR, or “O-SDR”, the composite reserve asset issued and administered by the IMF; (ii) SDR-denominated financial market instruments, or “M-SDRs,” which could be both issued and held by any parties; and (iii) the SDR as a unit of account. M-SDRs reduce foreign exchange and interest rate risk relative to single-currency instruments, but there are some drawbacks and challenges. The basket nature of M-SDRs would allow the volatility of returns to be lower than for a similar singlecurrency instrument. However, the SDR only represents one of many possible sets of portfolio weights, and issuers or investors could use existing instruments to replicate their preferred weights at a relatively low cost. There are also challenges to market development, including settling and clearing of M-SDR transactions, dealing with potential basket redefinition, and fostering secondary market trading in order to generate liquidity and market depth. There are potential benefits to using the SDR as a unit of account, which have to be weighed against other considerations. Publishing economic statistics and financial statements in SDR terms could help users identify valuation changes. Statistical authorities would need to invest in communicating the rationale for any change in practices. While the official SDR under its current framework is not playing a significant role in the IMS, a re-examination of its role is expected to inform whether any specific reform options should be pursued. The evolution of the IMS has given rise to an active debate on how much concern is posed by high rates of reserve accumulation, global imbalances, and rising claims on reserve issuers, and on whether the O-SDR could contribute to addressing these issues.
Author | : Alvaro Cencini |
Publisher | : Routledge |
Total Pages | : 395 |
Release | : 2002-09-11 |
Genre | : Business & Economics |
ISBN | : 1134835981 |
Monetary Theory provides an alternative to monetary economics based on the distinctive properties of money banking. The book: *Analyses money *Shows that the distinction between money and income is rooted in the banking practice *Examines exchange rate instability and financial crisis *Puts forward an alternative proposal for European Monetary Union.
Author | : D.E. Fair |
Publisher | : Springer Science & Business Media |
Total Pages | : 437 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 9401126283 |
The papers collected in this volume are those presented at the sixteenth Colloquium arranged by the Societe Universitaire Europeenne de Re cherches Financieres (SUERF), which took place in Lisbon in May 1991. The Society is supported by a large number of central banks and commer cial banks, by other financial and business institutions, and by personal subscriptions from academics and others interested in monetary and financial problems. Since its establishment in 1963, it has developed as a forum for the exchange of information, research results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to its members. The titles, places and dates of previous Colloquia for which volumes of the collected papers were published are noted on the last page of this volume. Volumes were not produced for Colloquia held at Tarragona, Spain in October 1970 under the title 'Monetary Policy and New Developments in Banking' and at Strasbourg, France in January 1972 under the title 'Aspects of European Monetary Union'.
Author | : Emmanuel Apel |
Publisher | : Routledge |
Total Pages | : 241 |
Release | : 2013-06-17 |
Genre | : Business & Economics |
ISBN | : 1135096724 |
This book is an accessible introduction to European monetary integration which provides a historical background to current debates, as well as an analysis of future developments. Further features of this book include: * a chronology of economic and monetary unification from 1958-1999 * clear non-technical presentation of the economic issues regarding the costs and benefits of creating a monetary union * detailed presentation of the economic and legal framework for the changeover to a single European economy * evaluation of the Maastricht Treaty's plan for monetary union * an overview of the debate between the federalist approach and the inter-governmental co-operation approach towards economic and political integration of Europe * a set of questions and exercises illuminating the more technical parts of the book European Monetary Integration 1958-2002 is an excellent resource for all those who want to discover the facts about European monetary integration which lie behind the heated political rhetoric.