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Sterling's Past, Dollar's Future: Historical Perspectives on Reserve Currency Competition / Barry Eichengreen.
- Format:
- Book
- Author/Creator:
- Eichengreen, Barry.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w11336.
- NBER working paper series no. w11336
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Sterling's Past, Dollar's Future
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2005.
- Summary:
- 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.
- Notes:
- Print version record
- May 2005.
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