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010   $a9786613826237
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035   $a(EBL)3014501
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035   $a(PQKBTitleCode)TC0000939888
035   $a(PQKBWorkID)10937786
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035   $a(OCoLC)694141186
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035   $a(IMF)WPIEE2006153
035   $a(EXLCZ)993360000000443614
100   $a20020129d2006      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 14$aThe Euro?s Challenge to the Dollar : $eDifferent Views from Economists and Evidence from COFER (Currency Composition of Foreign Exchange Reserves) and Other Data /$fEwe-Ghee Lim
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (40 p.)
225 1 $aIMF Working Papers
300   $a"June 2006."
311   $a1-4518-6413-2 
320   $aIncludes bibliographical references.
327   $a""Contents""; ""I. INTRODUCTION""; ""II. WHY IS THERE A NEED FOR INTERNATIONAL MONEY?""; ""III. CONCEPTUAL FRAMEWORKa???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""
330 3 $aThis paper examines opposing views on the euro's challenge to the dollar as an international currency. One view emphasizes Europe's large economy and diversification effects as undergirding a vigorous challenge. The other emphasizes "network externalities," particularly undergirding continued dollar dominance. The data to date support the second view but also show the euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size alone is insufficient to challenge the network externalities supporting vehicle currencies, but scope exists for the euro to advance as an international store of value. The paper discusses the euro's medium-term prospects.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/153
606   $aEuro-dollar market
606   $aForeign exchange
606   $aExports and Imports$2imf
606   $aFinance: General$2imf
606   $aInvestments: Bonds$2imf
606   $aMoney and Monetary Policy$2imf
606   $aMonetary Systems$2imf
606   $aStandards$2imf
606   $aRegimes$2imf
606   $aGovernment and the Monetary System$2imf
606   $aPayment Systems$2imf
606   $aInternational Financial Markets$2imf
606   $aGeneral Financial Markets: General (includes Measurement and Data)$2imf
606   $aCurrent Account Adjustment$2imf
606   $aShort-term Capital Movements$2imf
606   $aMonetary economics$2imf
606   $aFinance$2imf
606   $aInvestment & securities$2imf
606   $aInternational economics$2imf
606   $aCurrencies$2imf
606   $aCurrency markets$2imf
606   $aReserve currencies$2imf
606   $aInternational bonds$2imf
606   $aCurrent account deficits$2imf
606   $aMoney$2imf
606   $aForeign exchange market$2imf
606   $aBonds$2imf
606   $aBalance of payments$2imf
607   $aUnited States$2imf
615  0$aEuro-dollar market.
615  0$aForeign exchange.
615  7$aExports and Imports
615  7$aFinance: General
615  7$aInvestments: Bonds
615  7$aMoney and Monetary Policy
615  7$aMonetary Systems
615  7$aStandards
615  7$aRegimes
615  7$aGovernment and the Monetary System
615  7$aPayment Systems
615  7$aInternational Financial Markets
615  7$aGeneral Financial Markets: General (includes Measurement and Data)
615  7$aCurrent Account Adjustment
615  7$aShort-term Capital Movements
615  7$aMonetary economics
615  7$aFinance
615  7$aInvestment & securities
615  7$aInternational economics
615  7$aCurrencies
615  7$aCurrency markets
615  7$aReserve currencies
615  7$aInternational bonds
615  7$aCurrent account deficits
615  7$aMoney
615  7$aForeign exchange market
615  7$aBonds
615  7$aBalance of payments
700   $aLim$b Ewe-Ghee$01546566
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788412303321
996   $aThe Euro?s Challenge to the Dollar$93802259
997   $aUNINA