The Euros Challenge To The Dollar Different Views From Economists And Evidence From Cofer Currency Composition Of Foreign Exchange Reserves And Other Data PDF Download
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Author | : Ewe-Ghee Lim |
Publisher | : INTERNATIONAL MONETARY FUND |
Total Pages | : 40 |
Release | : 2006-06-01 |
Genre | : |
ISBN | : 9781451864137 |
Download The Euro's Challenge to the Dollar: Different Views from Economists and Evidence from COFER (Currency Composition of Foreign Exchange Reserves) and Other Data Book in PDF, ePub and Kindle
This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view emphasizes Europe's large economy and diversification effects as undergirding a vigorous challenge. The other emphasizes "network externalities," particularly undergirding continued dollar dominance. The data to date support the second view but also show the euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size alone is insufficient to challenge the network externalities supporting vehicle currencies, but scope exists for the euro to advance as an international store of value. The paper discusses the euro's medium-term prospects.
Author | : Ewe-Ghee Lim |
Publisher | : |
Total Pages | : |
Release | : 2006 |
Genre | : Electronic books |
ISBN | : |
Download IMF Working Papers Book in PDF, ePub and Kindle
Author | : Pedro Gomis-Porqueras |
Publisher | : Routledge |
Total Pages | : 263 |
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.
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 | : Benjamin J. Cohen |
Publisher | : Routledge |
Total Pages | : 210 |
Release | : 2012-11-12 |
Genre | : Political Science |
ISBN | : 1136845887 |
Download The Future of Global Currency Book in PDF, ePub and Kindle
Can the euro challenge the supremacy of the U.S. dollar as a global currency? From the time Europe’s joint money was born, many have predicted that it would soon achieve parity with the dollar or possibly even surpass it. In reality, however, the euro has remained firmly planted in the dollar’s shadow. The essays collected in this volume explain why. Because of America’s external deficits and looming foreign debt, the dollar can never be as dominant as it once was. But Europe’s money is unable to mount an effective challenge. The euro suffers from a number of critical structural deficiencies, including an anti-growth bias that is built into the institutions of the monetary union and an ambiguous governance structure that sows doubts among prospective users. As recent events have demonstrated, members of the euro zone remain vulnerable to financial crisis. Moreover, lacking a single voice, the bloc continues to punch below its weight in monetary diplomacy. The world seems headed toward a leaderless monetary order, with several currencies in contention but none clearly dominant. This collection distils the views of one of the world’s leading scholars in global currency, and will be of considerable interest to students and scholars of international finance and international political economy.
Author | : United Nations |
Publisher | : Academic Foundation |
Total Pages | : 196 |
Release | : 2008 |
Genre | : Economic history |
ISBN | : 9788171886920 |
Download World Economic Situation and Prospects 2008 Book in PDF, ePub and Kindle
Author | : Aideen Morahan |
Publisher | : International Monetary Fund |
Total Pages | : 34 |
Release | : 2013-05-08 |
Genre | : Business & Economics |
ISBN | : 1484389557 |
Download Survey of Reserve Managers Book in PDF, ePub and Kindle
This paper reports in detail on a survey that was circulated to reserve managing central banks of IMF member countries in April 2012. The survey aims to gain further insight into how reserve managers have reacted to the crisis to date. The survey also aims to understand how reserve managers arrive at their strategic asset allocation and how they operate their risk management frameworks in practice. Some of the key themes that emerge from the survey include potential procyclical and counter cyclical behavior by reserve managers, increased focus placed on returns and wide variability across countries in how the currency composition of reserves is derived.
Author | : Pompeo Della Posta |
Publisher | : Springer |
Total Pages | : 296 |
Release | : 2011-04-28 |
Genre | : Political Science |
ISBN | : 0230305008 |
Download Europe and the Financial Crisis Book in PDF, ePub and Kindle
The global financial and economic crisis has brought about many effects that are still difficult to interpret univocally. This book studies the consequences of the crisis on Europe by examining the effects on the European institutional setup, governance and architecture and by studying in detail the different member countries.
Author | : Luciana Juvenal |
Publisher | : International Monetary Fund |
Total Pages | : 67 |
Release | : 2019-12-27 |
Genre | : Business & Economics |
ISBN | : 1513525379 |
Download Cross-Border Currency Exposures Book in PDF, ePub and Kindle
This paper provides a dataset on the currency composition of the international investment position for a group of 50 countries for the period 1990-2017. It improves available data based on estimates by incorporating actual data reported by statistical authorities and refining estimation methods. The paper illustrates current and new uses of these data, with particular focus on the evolution of currency exposures of cross-border positions.
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.