Can The Euro Ever Be A Global Reserve Currency PDF Download
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| Author | : Veronika Minkova |
| Publisher | : GRIN Verlag |
| Total Pages | : 22 |
| Release | : 2011-09-28 |
| Genre | : Political Science |
| ISBN | : 3656016542 |
Download Can the euro ever be a global reserve currency? Book in PDF, ePub and Kindle
Essay from the year 2010 in the subject Politics - Topic: European Union, grade: 1,3, King`s College London, language: English, abstract: After the first decade of the advent of the euro, analysts have examined the prospect of the European common currency to become not only regional currency, but also its usage to spread internationally. Not only has the euro proved to be more than a powerful symbol of collective identity, but it has also provided price stability, it has been a shelter against currency crises and it has attracted new member states that wish to join the euro area. However, this positive landscape has changed in the face of the global financial crisis and the Greek budgetary crisis. Many have seen the euro only as ‘a fair weather currency’ arguing that confluence of factors facilitates the euro’s deficiency of becoming ‘bad weather currency’ such as economic divergence and internal imbalances between member states. The first section of the essay discusses the benefits and costs of issuing an international currency. By applying the three attributes of money to the euro, the second section reviews the euro’s performance as a medium of exchange, unit of account and store of value. The final section identifies factors which hinder the European common currency’s success as an international currency. These factors include: inertial forces characterising the financial markets, governance design of EMU, member states’ internal imbalances, fragmentation of financial markets, non-economic limitations and the European Union’s discouraging stance towards the euro’s international status.
| Author | : |
| Publisher | : Peterson Institute |
| Total Pages | : 237 |
| Release | : 2009 |
| Genre | : |
| ISBN | : 0881325589 |
Download The Euro at Ten: The Next Global Currency Book in PDF, ePub and Kindle
| Author | : David Marsh |
| Publisher | : Yale University Press |
| Total Pages | : 632 |
| Release | : 2011-08-23 |
| Genre | : Business & Economics |
| ISBN | : 0300173903 |
Download The Euro Book in PDF, ePub and Kindle
This book is the first comprehensive political and economic account of the birth and development of the Euro. Today the Euro is the supranational currency for sixteen European countries and the world's second-largest reserve currency. David Marsh tells the story of the rivalries, intrigues, and deal making that brought about a currency for Europe, and he analyzes the achievements and shortcomings of its first decade of existence. While the Euro represents a remarkable triumph of political will, great pressures are building on the single currency. Drawing on more than 100 interviews with leading figures associated with the Euro, and scores of secret documents from international archives, Marsh underscores the Euro's importance for the global economy, in particular for U.S. and British economic and political agendas. Hidden facts and fresh insights from The Euro --How the legacy of France and Germany's tortuous relations affects the Euro--Why the United Kingdom is unlikely to accept the Euro before 2025--The impact on the Euro of the U.S. credit crisis--How the Euro has rebounded against the aspirations of its founders--How Italy and Spain have massively lost competitiveness--Why radical changes must be adopted to prevent a European upheaval
| Author | : Richard H. Clarida |
| Publisher | : University of Chicago Press |
| Total Pages | : 519 |
| Release | : 2007-11-01 |
| Genre | : Business & Economics |
| ISBN | : 0226107280 |
Download G7 Current Account Imbalances Book in PDF, ePub and Kindle
The current account deficit of the United States is more than six percent of its gross domestic product—an all-time high. And the rest of the world, including other G7 countries such as Japan and Germany, must collectively run current account surpluses to finance this deficit. How long can such unevenness between imports and exports be sustained, and what form might their eventual reconciliation take? Putting forth scenarios ranging from a gradual correction to a crash landing for the dollar, G7 Current Account Imbalances brings together economists from around the globe to consider the origins, status, and future of those disparities. An esteemed group of collaborators here examines the role of the bursting of the dot-com bubble, the history of previous episodes of current account adjustments, and the possibility of the Euro surpassing the dollar as the leading international reserve currency. Though there are areas of broad agreement—that the imbalances will ultimately decline and that currency revaluations will be part of the solution—many areas of contention remain regarding both the dangers of imbalances and the possible forms of adjustment. This volume will be of tremendous value to economists, politicians, and business leaders alike as they look to the future of the G7 economies.
| Author | : Barry Eichengreen |
| Publisher | : Oxford University Press |
| Total Pages | : 224 |
| Release | : 2011-01-07 |
| Genre | : Business & Economics |
| ISBN | : 0199753784 |
Download Exorbitant Privilege Book in PDF, ePub and Kindle
It is, as a critic of U.S.
| Author | : Robert A. Mundell |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 460 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 1461544572 |
Download The Euro as a Stabilizer in the International Economic System Book in PDF, ePub and Kindle
The introduction of the euro was an important event for the world economy and the international political system. For the first time in history, a substantial group of European countries-eleven of the fifteen members of the European Union including three members of the G-7-have voluntarily agreed to replace their national currencies with a single currency. The euro area has already become established as the second largest currency area in the world and will therefore become a major player in the international monetary system. The creation of the euro poses a number of interesting questions. Will the euro be a strong or a weak currency? Will the euro challenge the leading position hitherto held by the United States dollar and would sharing of the burdens and advantages of reserve currency status improve or worsen the stability of the international monetary system? How will the euro affect US relations with Europe? Does the formation of the euro intensify European integration in other fields? Is a bi-polar international monetary system viable? These and other issues motivated the Luxembourg Institute for European and International Studies and the Pierre Werner Foundation to organize an international conference in Luxembourg on December 3-4, 1998, on the eve of the birth of the euro. At the outset we were aware that the issue of the euro went far beyond pure economics. Money, after all, is too important a subject to be left to economists.
| Author | : Gabriele Galati |
| Publisher | : |
| Total Pages | : 42 |
| Release | : 2006 |
| Genre | : Bank reserves |
| ISBN | : |
Download The Euro as a Reserve Currency Book in PDF, ePub and Kindle
Well developed financial markets are a necessary condition for a currency to play a role as a reserve currency. The introduction of the euro greatly improved the functioning of euro financial markets. This paper investigates whether euro financial markets have developed sufficiently to facilitate the emergence of the euro as a reserve currency on par with the US dollar. We find that the liquidity and breadth of euro financial markets are fast approaching those of dollar markets, and as a result the euro is eroding some of the advantages that have historically supported the pre-eminence of the US dollar as a reserve currency. This strengthens the incentive for monetary authorities to reconsider the currency composition of their reserves. Nevertheless, the introduction of the euro has not yet resulted in a significant change in the currency composition of official reserve holdings. The US dollar has maintained its place as the dominant reserve currency, supported perhaps by the edge that dollar financial markets still have over euro markets in terms of size, credit quality and liquidity, as well as inertia in the use of international currencies.
| Author | : International Monetary Fund |
| Publisher | : INTERNATIONAL MONETARY FUND |
| Total Pages | : 57 |
| Release | : 2009-09-15 |
| Genre | : Electronic books |
| ISBN | : 9781451953756 |
Download Finance & Development, September 2009 Book in PDF, ePub and Kindle
Recovery from the deepest recession in 60 years has started. But sustaining it will require delicate rebalancing acts, both within and across countries. IMF chief economist Olivier Blanchard writes in our lead article that the turnaround will not be simple. The crisis has left deep scars that will affect both supply and demand for many years to come. This issue of F&D also looks at what’s next in the global crisis and beyond. We look at ways of unwinding crisis support, the shape of growth worldwide after the crisis, ways of rebuilding the financial architecture, and the future of reserve currencies. Jeffrey Frankel examines what’s in and what’s out in global money, while a team from the IMF’s Research Department looks at what early warning systems can be expected to deliver in spotting future problems. In our regular People in Economics profile, we speak to Nobel prize winner Daniel Kahneman, whose work led to the creation of the field of behavioral economics, and our Picture This feature gives a timeline of how the Bank of England’s policy rate has fallen to its lowest level in 300 years. Back to Basics gives a primer on monetary policy, and Data Spotlight looks at how the crisis has affected the eastern European banking system.
| Author | : David Marsh |
| Publisher | : |
| Total Pages | : 340 |
| Release | : 2009 |
| Genre | : Euro |
| ISBN | : 9786612501449 |
Download The Euro Book in PDF, ePub and Kindle
This book is the first comprehensive political and economic account of the birth and development of the Euro. Today the Euro is the supranational currency for sixteen European countries and the world's second-largest reserve currency. David Marsh tells the story of the rivalries, intrigues, and deal making that brought about a currency for Europe, and he analyzes the achievements and shortcomings of its first decade of existence.
| Author | : Pedro Gomis-Porqueras |
| Publisher | : Routledge |
| Total Pages | : 256 |
| Release | : 2016-12-05 |
| Genre | : Political Science |
| ISBN | : 1351895338 |
Download The €uro and the Dollar in a Globalized Economy Book in PDF, ePub and Kindle
The dollar has been the dominant currency of the world economy for almost a century; since 2002, the euro has gained widespread international acceptance resulting in important institutional, economic and financial changes both for the euro zone, the United States and the world economies, affecting foreign exchange and financial markets as well as economic activities around the world. In years to come, the international role of the euro will hinge on the validity of the fundamental idea underlying its creation, namely that important components of sovereignty can be pooled and shared among nations in the pursuit of common economic and political objectives. This key book assesses the international role of the euro, discusses its impact on global financial markets, shifting global exchange rate relationships and their implications. With input from various disciplines (economics, business and political science), it foments discussions intended to facilitate an exchange of ideas among academics, practitioners and the local business community.
