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Record Nr. |
UNINA9910826089103321 |
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Autore |
Lim Ewe-Ghee |
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Titolo |
The Euro’s Challenge to the Dollar : : Different Views from Economists and Evidence from COFER (Currency Composition of Foreign Exchange Reserves) and Other Data / / Ewe-Ghee Lim |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-2962-4 |
1-4527-2088-6 |
1-283-51378-1 |
9786613826237 |
1-4519-0919-5 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (40 p.) |
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Collana |
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Soggetti |
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Euro-dollar market |
Foreign exchange |
Exports and Imports |
Finance: General |
Investments: Bonds |
Money and Monetary Policy |
Monetary Systems |
Standards |
Regimes |
Government and the Monetary System |
Payment Systems |
International Financial Markets |
General Financial Markets: General (includes Measurement and Data) |
Current Account Adjustment |
Short-term Capital Movements |
Monetary economics |
Finance |
Investment & securities |
International economics |
Currencies |
Currency markets |
Reserve currencies |
International bonds |
Current account deficits |
Money |
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Foreign exchange market |
Bonds |
Balance of payments |
United States |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. WHY IS THERE A NEED FOR INTERNATIONAL MONEY?""; ""III. CONCEPTUAL FRAMEWORK�FACTORS THAT FACILITATE INTERNATIONAL CURRENCY STATUS""; ""IV. REASONS FOR THE DIFFERENT VIEWS""; ""V. EMPIRICAL EVIDENCE TO DATE ""; ""VI. MEDIUM-TERM PROSPECTS FOR THE EURO""; ""VII. CONCLUSION""; ""BIBLIOGRAPHY"" |
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Sommario/riassunto |
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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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