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"This paper provides an historical perspective on reserve currency competition and on the prospects of the dollar as an international currency. It questions the conventional wisdom that competition for reserve-currency status is a winner-take-all game, showing that several currencies have often shared this role in the past and arguing that innovations in financial markets make it even more likely that they will do so in the future. It suggests that the dollar and the euro are likely to share this position for the foreseeable future. Hopes that the yuan could become a major international currency 20 or even 40 years from now are highly premature"--National Bureau of Economic Research web site.
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Subjects
Foreign exchange rates, Bank reserves, Foreign exchangeShowing 1 featured edition. View all 1 editions?
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Sterling's past, dollar's future: historical perspectives on reserve currency competition
2005, National Bureau of Economic Research
Electronic resource
in English
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Book Details
Edition Notes
Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 7/27/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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