04825oam 22011894 450 991078841230332120230828232712.01-4623-2962-41-4527-2088-61-283-51378-197866138262371-4519-0919-5(CKB)3360000000443614(EBL)3014501(SSID)ssj0000939888(PQKBManifestationID)11479986(PQKBTitleCode)TC0000939888(PQKBWorkID)10937786(PQKB)11171448(OCoLC)694141186(MiAaPQ)EBC3014501(IMF)WPIEE2006153(EXLCZ)99336000000044361420020129d2006 uf 0engur|n|---|||||txtccrThe 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 LimWashington, D.C. :International Monetary Fund,2006.1 online resource (40 p.)IMF Working Papers"June 2006."1-4518-6413-2 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. WHY IS THERE A NEED FOR INTERNATIONAL MONEY?""; ""III. CONCEPTUAL FRAMEWORKâ€?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""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.IMF Working Papers; Working Paper ;No. 2006/153Euro-dollar marketForeign exchangeExports and ImportsimfFinance: GeneralimfInvestments: BondsimfMoney and Monetary PolicyimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfInternational Financial MarketsimfGeneral Financial Markets: General (includes Measurement and Data)imfCurrent Account AdjustmentimfShort-term Capital MovementsimfMonetary economicsimfFinanceimfInvestment & securitiesimfInternational economicsimfCurrenciesimfCurrency marketsimfReserve currenciesimfInternational bondsimfCurrent account deficitsimfMoneyimfForeign exchange marketimfBondsimfBalance of paymentsimfUnited StatesimfEuro-dollar market.Foreign exchange.Exports and ImportsFinance: GeneralInvestments: BondsMoney and Monetary PolicyMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsInternational Financial MarketsGeneral Financial Markets: General (includes Measurement and Data)Current Account AdjustmentShort-term Capital MovementsMonetary economicsFinanceInvestment & securitiesInternational economicsCurrenciesCurrency marketsReserve currenciesInternational bondsCurrent account deficitsMoneyForeign exchange marketBondsBalance of paymentsLim Ewe-Ghee1546566DcWaIMFBOOK9910788412303321The Euro’s Challenge to the Dollar3802259UNINA