LEADER 05044oam 22012854 450 001 9910959023903321 005 20250426110558.0 010 $a9786613826237 010 $a9781462329625 010 $a1462329624 010 $a9781452720883 010 $a1452720886 010 $a9781283513784 010 $a1283513781 010 $a9781451909197 010 $a1451909195 035 $a(CKB)3360000000443614 035 $a(EBL)3014501 035 $a(SSID)ssj0000939888 035 $a(PQKBManifestationID)11479986 035 $a(PQKBTitleCode)TC0000939888 035 $a(PQKBWorkID)10937786 035 $a(PQKB)11171448 035 $a(OCoLC)694141186 035 $a(IMF)WPIEE2006153 035 $a(MiAaPQ)EBC3014501 035 $a(IMF)WPIEA2006153 035 $aWPIEA2006153 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 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (40 p.) 225 1 $aIMF Working Papers 300 $a"June 2006." 311 08$a9781451864137 311 08$a1451864132 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 $aBalance of payments$2imf 606 $aBonds$2imf 606 $aCurrencies$2imf 606 $aCurrency markets$2imf 606 $aCurrent Account Adjustment$2imf 606 $aCurrent account deficits$2imf 606 $aExports and Imports$2imf 606 $aFinance$2imf 606 $aFinance: General$2imf 606 $aForeign exchange market$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aGovernment and the Monetary System$2imf 606 $aInternational bonds$2imf 606 $aInternational economics$2imf 606 $aInternational Financial Markets$2imf 606 $aInvestment & securities$2imf 606 $aInvestments: Bonds$2imf 606 $aMonetary economics$2imf 606 $aMonetary Systems$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMoney$2imf 606 $aPayment Systems$2imf 606 $aRegimes$2imf 606 $aReserve currencies$2imf 606 $aShort-term Capital Movements$2imf 606 $aStandards$2imf 607 $aUnited States$2imf 615 0$aEuro-dollar market. 615 0$aForeign exchange. 615 7$aBalance of payments 615 7$aBonds 615 7$aCurrencies 615 7$aCurrency markets 615 7$aCurrent Account Adjustment 615 7$aCurrent account deficits 615 7$aExports and Imports 615 7$aFinance 615 7$aFinance: General 615 7$aForeign exchange market 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aGovernment and the Monetary System 615 7$aInternational bonds 615 7$aInternational economics 615 7$aInternational Financial Markets 615 7$aInvestment & securities 615 7$aInvestments: Bonds 615 7$aMonetary economics 615 7$aMonetary Systems 615 7$aMoney and Monetary Policy 615 7$aMoney 615 7$aPayment Systems 615 7$aRegimes 615 7$aReserve currencies 615 7$aShort-term Capital Movements 615 7$aStandards 700 $aLim$b Ewe-Ghee$01816396 801 0$bDcWaIMF 906 $aBOOK 912 $a9910959023903321 996 $aThe Euro?s Challenge to the Dollar$94372446 997 $aUNINA