Reserve Currency Blocs A Changing International Monetary System
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Reserve Currency Blocs A Changing International Monetary System
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Author : Mr.Camilo E Tovar Mora
language : en
Publisher: International Monetary Fund
Release Date : 2018-01-25
Reserve Currency Blocs A Changing International Monetary System written by Mr.Camilo E Tovar Mora and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-25 with Business & Economics categories.
What is the extent of currency diversification in the international monetary system? How has it evolved over time? In this paper, we quantify the degree of currency diversification using regression methods of currency co-movements to determine the extent to which national currencies across the world belong to a reserve currency bloc. We then use these estimates to calculate the economic size of each currency bloc. A key contribution of our paper is that we quantify the size of the Chinese renminbi bloc. Our analysis suggests that the international monetary system has transitioned from a bi-polar system - consisting of the U.S. dollar and the euro - to a tri-polar one that includes the renminbi. The dollar bloc is estimated to continue to dominate, having the largest share in global GDP (40 percent), followed by the renminbi (30 percent) and the euro blocs (20 percent). The geographical area of influence for the RMB bloc appears to be most evident among the BRICS’ currencies. The British pound and the Japanese yen blocs appear to play minor roles.
The Future Of The Sdr In Light Of Changes In The International Monetary System
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Author : James M. Boughton
language : en
Publisher: International Monetary Fund
Release Date : 1996
The Future Of The Sdr In Light Of Changes In The International Monetary System written by James M. Boughton and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
This book edited by Michael Mussa, James M. Boughton, and Peter Isard, records the proceedings of a seminar held at the IMF in March 1996 on the future of the special drawing right (SDR), given changes in the international monetary system since the inception of the SDR. the seminar focuses on the differences in opinion in the international community on the desirability or feasibility of an additional allocation of SDRs.
China S Evolving Exchange Rate Regime
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Author : Mr.Sonali Das
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-07
China S Evolving Exchange Rate Regime written by Mr.Sonali Das and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-07 with Business & Economics categories.
China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.
Reforming The International Monetary System
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Author : Emmanuel Farhi
language : en
Publisher: CEPR
Release Date : 2011
Reforming The International Monetary System written by Emmanuel Farhi and has been published by CEPR this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
This report presents a set of concrete proposals of increasing ambition for the reform of the international monetary system. The proposals aim at improving the international provision of liquidity in order to limit the effects of individual and systemic crises and decrease their frequency. The recommendations outlined in this report include: / Develop alternatives to US Treasuries as the dominant reserve asset, including the issuance of mutually guaranteed European bonds and (in the more distant future) the development of a yuan bond market. / Make permanent the temporary swap agreements that were put in place between central banks during the crisis. Establish a starshaped structure of swap lines centred on the IMF. / Strengthen and expand existing IMF liquidity facilities. On the funding side, expand the IMF's existing financing mechanisms and allow the IMF to borrow directly on the markets. / Establish a foreign exchange reserve pooling mechanism with the IMF, providing participating countries with access to additional liquidity and, incidentally, allowing reserves to be recycled into productive investments.To limit moral hazard, the report proposes the setting up of specific surveillance indicators to monitor international funding risks associated with increased insurance provision. The report discusses the role of the special drawing rights (SDRs) and the prospects for turning this unit of account into a true international currency, arguing that it would not solve the fundamental problems of the international monetary system. The report also reviews the conditions under which emerging market economies may use temporary capital controls to counteract excessive and volatile capital flows. The potential for negative externalities requires mutual monitoring and international cooperation in terms of financial regulation and suggests that the mandate of the IMF should be extended to the financial account.
Reserve Currency Blocs
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Author : CAMILO E; MOHD NOR TOVAR MORA (TANI.)
language : en
Publisher:
Release Date :
Reserve Currency Blocs written by CAMILO E; MOHD NOR TOVAR MORA (TANI.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
The Evolution Of The International Monetary System
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Author : Robert Triffin
language : en
Publisher:
Release Date : 1964
The Evolution Of The International Monetary System written by Robert Triffin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1964 with categories.
The Future Of The Dollar
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Author : Eric Helleiner
language : en
Publisher: Cornell University Press
Release Date : 2012-09-15
The Future Of The Dollar written by Eric Helleiner and has been published by Cornell University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-15 with Business & Economics categories.
For half a century, the United States has garnered substantial political and economic benefits as a result of the dollar's de facto role as a global currency. In recent years, however, the dollar's preponderant position in world markets has come under challenge. The dollar has been more volatile than ever against foreign currencies, and various nations have switched to non-dollar instruments in their transactions. China and the Arab Gulf states continue to hold massive amounts of U.S. government obligations, in effect subsidizing U.S. current account deficits, and those holdings are a point of potential vulnerability for American policy. What is the future of the U.S. dollar as an international currency? Will predictions of its demise end up just as inaccurate as those that have accompanied major international financial crises since the early 1970s? Analysts disagree, often profoundly, in their answers to these questions. In The Future of the Dollar, leading scholars of dollar's international role bring multidisciplinary perspectives and a range of contrasting predictions to the question of the dollar's future. This timely book provides readers with a clear sense of why such disagreements exist and it outlines a variety of future scenarios and the possible political implications for the United States and the world.
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Author :
language : en
Publisher: International Monetary Fund
Release Date :
written by and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Handbook On East Asian Economic Integration
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Author : Kimura, Fukunari
language : en
Publisher: Edward Elgar Publishing
Release Date : 2021-12-09
Handbook On East Asian Economic Integration written by Kimura, Fukunari and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-09 with Social Science categories.
This comprehensive Handbook provides an in-depth analysis of the nature of East Asian economic integration alongside thoughtful insights into contemporary issues, such as agricultural development, structural transformation and East Asian trade, alongside skills and human capital development policies of ASEAN. Contributors also provide detailed explanations on trade, poverty and Aid for Trade, institutional reforms, regulatory reform and measuring integration.
Foreign Exchange Reserves Management
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Author : John Nugée
language : en
Publisher:
Release Date : 2000
Foreign Exchange Reserves Management written by John Nugée and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Foreign exchange administration categories.