Advanced Search
MyIDEAS: Login to save this article or follow this journal

Le dollar et l’euro : la primauté monétaire de l’Europe a-t-elle une place?

Contents:

Author Info

  • Uctum, Merih

    (Brooklyn College)

  • Deusy-Fournier, Pierre

    (Commission européenne)

Abstract

This study examines whether the move toward a single European currency leading to internationalization of major European currencies has challenged the dollar's supremacy since the 1980s. We find that the decline of the international role of the dollar, which started right after the collapse of the Bretton Woods system, is continuing. This decline is visible in private uses of the dollar, although the US currency still dominates the other currencies in official uses. If a single European currency is adopted, the evidence suggests that the euro will likely become a major competitor to the dollar as an international currency. L’objet de cette étude est de déterminer si la suprématie du dollar a été remise en question depuis 1980, date à laquelle ont débuté les démarches pour la création d’une monnaie européenne unique devant mener à l’internationalisation des principales monnaies européennes. Nous avons constaté que le déclin du rôle international du dollar, qui s’était amorcé juste après l’effondrement du système de Bretton Woods, se poursuit. Ce déclin est visible au niveau des utilisations privées du dollar, bien que la monnaie américaine continue à dominer les autres lorsqu’il s’agit des utilisations officielles. Si une monnaie européenne unique est adoptée, les résultats empiriques laissent penser qu’elle pourrait fortement concurrencer le dollar à titre de monnaie internationale.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://id.erudit.org/iderudit/602280ar
Download Restriction: no

Bibliographic Info

Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

Volume (Year): 74 (1998)
Issue (Month): 4 (décembre)
Pages: 669-694

as in new window
Handle: RePEc:ris:actuec:v:74:y:1998:i:4:p:669-694

Contact details of provider:
Email:
Web page: http://www.scse.ca/
More information through EDIRC

Related research

Keywords:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Tavlas, G.S., 1991. "On the International Use of Currencies: the Case of the Deutsche Mark," Princeton Studies in International Economics 181, International Economics Section, Departement of Economics Princeton University,.
  2. McCauley, R.N., 1997. "The Euro and the Dollar," Princeton Essays in International Economics 205, International Economics Section, Departement of Economics Princeton University,.
  3. De Grauwe, Paul, 1996. "How to Fix Conversion Rates at the Start of EMU," CEPR Discussion Papers 1530, C.E.P.R. Discussion Papers.
  4. Yusuru Ozeki & George S. Tavlas, 1992. "The Internationalization of Currencies," IMF Occasional Papers 90, International Monetary Fund.
  5. Buiter, Willem H, 1995. "Macroeconomic Policy During a Transition to Monetary Union," CEPR Discussion Papers 1222, C.E.P.R. Discussion Papers.
  6. Mélitz, Jacques, 1991. "A Suggested Reformulation of the Theory of Optimal Currency Areas," CEPR Discussion Papers 590, C.E.P.R. Discussion Papers.
  7. Robert N. McCauley & William R. White, 1997. "The Euro and European financial markets," BIS Working Papers 41, Bank for International Settlements.
  8. Karen H. Johnson, 1994. "International dimension of European Monetary Union: implications for the dollar," International Finance Discussion Papers 469, Board of Governors of the Federal Reserve System (U.S.).
  9. Craig S. Hakkio, 1991. "The international role of the dollar," Research Working Paper 91-08, Federal Reserve Bank of Kansas City.
  10. Dowd, Kevin & Greenaway, David, 1993. "Currency Competition, Network Externalities and Switching Costs: Towards an Alternative View of Optimum Currency Areas," Economic Journal, Royal Economic Society, vol. 103(420), pages 1180-89, September.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:ris:actuec:v:74:y:1998:i:4:p:669-694. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruce Shearer).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.