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The Currency Denomination of World Trade after European Monetary Union

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  • Hartmann, Philipp

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  • Hartmann, Philipp, 1998. "The Currency Denomination of World Trade after European Monetary Union," Journal of the Japanese and International Economies, Elsevier, vol. 12(4), pages 424-454, December.
  • Handle: RePEc:eee:jjieco:v:12:y:1998:i:4:p:424-454
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    2. Jean-Marie Viaene & Casper Vries, 1992. "On the design of invoicing practices in international trade," Open Economies Review, Springer, pages 133-142.
    3. Krugman, Paul, 1980. "Vehicle Currencies and the Structure of International Exchange," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 12(3), pages 513-526, August.
    4. Hélène Rey, 2001. "International Trade and Currency Exchange," Review of Economic Studies, Oxford University Press, vol. 68(2), pages 443-464.
    5. Baron, David P, 1976. "Fluctuating Exchange Rates and the Pricing of Exports," Economic Inquiry, Western Economic Association International, vol. 14(3), pages 425-438, September.
    6. Jeffrey A. Frankel, 1993. "Is Japan Creating a Yen Bloc in East Asia and the Pacific?," NBER Chapters,in: Regionalism and Rivalry: Japan and the United States in Pacific Asia, pages 53-88 National Bureau of Economic Research, Inc.
    7. Magee, Stephen P & Rao, Ramesh K S, 1980. "Vehicle and Nonvehicle Currencies in International Trade," American Economic Review, American Economic Association, pages 368-373.
    8. Stephen P. Magee, 1974. "U.S. Import Prices in the Currency-Contract Period," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, pages 117-168.
    9. Maehara, Yasuhiro, 1993. "The internationalization of the Yen and its role as a key currency," Journal of Asian Economics, Elsevier, pages 153-170.
    10. Garry J. Schinasi & Alessandro Prati, 1997. "European Monetary Union and International Capital Markets; Structural Implications and Risks," IMF Working Papers 97/62, International Monetary Fund.
    11. Hartmann, Philipp, 1998. "Do Reuters spreads reflect currencies' differences in global trading activity?," Journal of International Money and Finance, Elsevier, vol. 17(5), pages 757-784, October.
    12. S.A.B. Page, 1977. "Currency of Invoicing in Merchandise Trade," National Institute Economic Review, National Institute of Economic and Social Research, vol. 81(1), pages 77-81, August.
    13. Yusuru Ozeki & George S Tavlas, 1992. "The Internationalization of Currencies; An Appraisal of the Japanese Yen," IMF Occasional Papers 90, International Monetary Fund.
    14. Toru Iwami, 1994. "The Internationalization of Yen and Key Currency Questions," IMF Working Papers 94/41, International Monetary Fund.
    15. Kiminori Matsuyama & Nobuhiro Kiyotaki & Akihiko Matsui, 1993. "Toward a Theory of International Currency," Review of Economic Studies, Oxford University Press, vol. 60(2), pages 283-307.
    16. Jeffrey A. Frankel & Shang-Jin Wei, 1994. "Yen Bloc or Dollar Bloc? Exchange Rate Policies of the East Asian Economies," NBER Chapters,in: Macroeconomic Linkage: Savings, Exchange Rates, and Capital Flows, NBER-EASE Volume 3, pages 295-333 National Bureau of Economic Research, Inc.
    17. S.A.B. Page, 1981. "The Choice of Invoicing Currency in Merchandise Trade," National Institute Economic Review, National Institute of Economic and Social Research, vol. 98(1), pages 60-72, November.
    18. Grassman, Sven, 1976. "Currency distribution and forward cover in foreign trade : Sweden revisited, 1973," Journal of International Economics, Elsevier, pages 215-221.
    19. Bardhan, Pranab & Priale, Rodrigo, 1996. "Endogenous Growth Theory in a Vintage Capital Model," Center for International and Development Economics Research, Working Paper Series qt1363t4jg, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
    20. Dominguez, Kathryn M., 1998. "The Dollar Exposure of Japanese Companies," Journal of the Japanese and International Economies, Elsevier, vol. 12(4), pages 388-405, December.
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    22. Kawai, Masahiro & Akiyama, Shigeru, 1998. "The Role of Nominal Anchor Currencies in Exchange Rate Arrangements," Journal of the Japanese and International Economies, Elsevier, vol. 12(4), pages 334-387, December.
    23. C. Randall Henning, 1997. "Cooperating with Europe's Monetary Union," Peterson Institute Press: Policy Analyses in International Economics, Peterson Institute for International Economics, number pa49, October.
    24. Black, Stanley W., 1985. "International money and international monetary arrangements," Handbook of International Economics,in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 22, pages 1153-1193 Elsevier.
    25. McCauley, R.N., 1997. "The Euro and the Dollar," Princeton Essays in International Economics 205, International Economics Section, Departement of Economics Princeton University,.
    26. 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,.
    27. Chrystal, K Alec, 1977. "Demand for International Media of Exchange," American Economic Review, American Economic Association, pages 840-850.
    28. G. Basevi & D. Cocchi & P. L. Lischi, 1985. "The Choice of Currency in the Foreign Trade of Italy," Working Papers 17, Dipartimento Scienze Economiche, Universita' di Bologna.
    29. Norbert Funke & Mike Kennedy, 1997. "International Implications of European Economic and Monetary Union," OECD Economics Department Working Papers 174, OECD Publishing.
    30. Cornell, Bradford, 1980. "The Denomination of Foreign Trade Contracts Once Again," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 15(04), pages 933-944, November.
    31. Barry Eichengreen and Tamim Bayoumi., 1996. "Is Asia an Optimum Currency Area? Can It Become One? Regional, Global and Historical Perspectives on Asian Monetary Relations," Center for International and Development Economics Research (CIDER) Working Papers C96-081, University of California at Berkeley.
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    Cited by:

    1. Goldberg, Linda S. & Tille, Cédric, 2008. "Vehicle currency use in international trade," Journal of International Economics, Elsevier, pages 177-192.
    2. Menzie Chinn & Jeffrey A. Frankel, 2007. "Will the Euro Eventually Surpass the Dollar as Leading International Reserve Currency?," NBER Chapters,in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 283-338 National Bureau of Economic Research, Inc.
    3. Bacchetta, Philippe & van Wincoop, Eric, 2005. "A theory of the currency denomination of international trade," Journal of International Economics, Elsevier, pages 295-319.
    4. Papaioannou, Elias & Portes, Richard & Siourounis, Gregorios, 2006. "Optimal currency shares in international reserves: The impact of the euro and the prospects for the dollar," Journal of the Japanese and International Economies, Elsevier, pages 508-547.
    5. Robert Anderton & Badi H. Baltagi & Frauke Skudelny & Nuno Sousa, 2007. "Intra- and Extra-Euro Area Import Demand for Manufactures," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 53(3), pages 221-241.
    6. Linda S. Goldberg & Cedric Tille, 2006. "The internationalization of the dollar and trade balance adjustment," Staff Reports 255, Federal Reserve Bank of New York.
    7. Linda S. Goldberg & Cédric Tille, 2006. "The International Role of the Dollar and Trade Balance Adjustment," NBER Working Papers 12495, National Bureau of Economic Research, Inc.
    8. Detken, Carsten & Hartmann, Philipp, 2000. "The euro and international capital markets," Working Paper Series 0019, European Central Bank.
    9. Detken, Carsten & Hartmann, Philipp, 2000. "The Euro and International Capital Markets," International Finance, Wiley Blackwell, vol. 3(1), pages 53-94, April.
    10. Andreas Schabert, 2005. "Discretionary Policy, Multiple Equilibria, and Monetary Instruments," Tinbergen Institute Discussion Papers 05-098/2, Tinbergen Institute.
    11. Menzie D. Chinn & Jeffrey A. Frankel, 2008. "The Euro May Over the Next 15 Years Surpass the Dollar as Leading International Currency," NBER Working Papers 13909, National Bureau of Economic Research, Inc.
    12. Ligthart, J.E. & Da Silva, J., 2007. "Currency Invoicing in International Trade : A Panel Data Approach," Discussion Paper 2007-25, Tilburg University, Center for Economic Research.
    13. Bacchetta, Philippe & van Wincoop, Eric, 2002. "A Theory of Currency Denomination of International Trade," CEPR Discussion Papers 3120, C.E.P.R. Discussion Papers.
    14. Silvia Fabiani & Ricardo Mestre, 2004. "A system approach for measuring the euro area NAIRU," Empirical Economics, Springer, pages 311-341.
    15. Ehrmann, Michael & Smets, Frank, 2003. "Uncertain potential output: implications for monetary policy," Journal of Economic Dynamics and Control, Elsevier, pages 1611-1638.
    16. Menzie Chinn & Jeffrey Frankel, 2008. "Why the Euro Will Rival the Dollar," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, pages 255-278.
    17. Floden, Martin & Wilander, Fredrik, 2006. "State dependent pricing, invoicing currency, and exchange rate pass-through," Journal of International Economics, Elsevier, pages 178-196.
    18. Kamps, Annette, 2006. "The euro as invoicing currency in international trade," Working Paper Series 665, European Central Bank.

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