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The euro's challenge to the dollar : different views from economists and evidence from COFER (Currency Composition of Foreign Exchange Reserves) and other data /
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 undergird...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund, Statistics Dept.,
©2006.
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| Colección: | IMF working paper ;
WP/06/153. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | 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 |
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| Descripción Física: | 1 online resource (38 pages) : illustrations |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1283513781 9781283513784 9781451909197 1451909195 1462329624 9781462329625 1452720886 9781452720883 9786613826237 6613826235 |
| ISSN: | 2227-8885 ; |