IDEAS home Printed from https://ideas.repec.org/a/eee/worbus/v34y1999i2p171-192.html
   My bibliography  Save this article

The Euro versus the U.S. dollar: an overview

Author

Listed:
  • Kaikati, Jack G.

Abstract

The creation of the euro will prove to be a remarkable development in international relations and carries far-reaching implications for the international monetary system. The objectives of this paper are four-fold. The first objective is to provide a brief overview of previous monetary unions in Europe. It covers three surviving monetary unions and two that failed. The second objective is to provide a review of major developments leading to the creation of the euro. The third objective is to analyze the opportunities and threats associated with the euro. The fourth objective is to provide an overview of the on-going debate as to whether the euro will be a serious challenger to the U.S. dollar.

Suggested Citation

  • Kaikati, Jack G., 1999. "The Euro versus the U.S. dollar: an overview," Journal of World Business, Elsevier, vol. 34(2), pages 171-192, July.
    • Handle: RePEc:eee:worbus:v:34:y:1999:i:2:p:171-192
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1090951699000152
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Obstfeld, Maurice, 1998. "A strategy for launching the Euro," European Economic Review, Elsevier, vol. 42(6), pages 975-1007, June.
    2. Thygesen, Niels, 1994. "Why is economic and monetary union an important objective for Europe?," International Review of Law and Economics, Elsevier, vol. 14(2), pages 133-145, June.
    3. Mr. Vito Tanzi, 1998. "The Demise of the Nation State?," IMF Working Papers 1998/120, International Monetary Fund.
    4. Michael Artis & Bernhard Winkler, 1998. "The Stability Pact: Safeguarding the Credibility of the European Central Bank," National Institute Economic Review, National Institute of Economic and Social Research, vol. 163(1), pages 87-98, January.
    5. Antonio Fatás, 1998. "Does EMU need a fiscal federation?," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 13(26), pages 164-203.
    6. Richard Portes & Hélène Rey, 1998. "The emergence of the euro as an international currency," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 13(26), pages 306-343.
    7. Robert F. Graboyes, 1990. "The EMU: forerunners and durability," Economic Review, Federal Reserve Bank of Richmond, vol. 76(Jul), pages 8-17.
    8. Bordo,Michael D. & Capie,Forrest, 2006. "Monetary Regimes in Transition," Cambridge Books, Cambridge University Press, number 9780521030427.
    9. Rudi Dornbusch & Carlo Favero & Francesco Giavazzi, 1998. "Immediate challenges for the European Central Bank," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 13(26), pages 16-64.
    10. Patricia S. Pollard, 1995. "EMU: will it fly?," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 3-16.
    11. Mr. Michel Galy & Mr. Michael T. Hadjimichael, 1997. "The CFA Franc Zone and the EMU," IMF Working Papers 1997/156, International Monetary Fund.
    12. Kenneth Rogoff, 1998. "Blessing or curse? Foreign and underground demand for euro notes," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 13(26), pages 262-303.
    13. Marc Flandreau, 1995. "Was the Latin Monetary Union a Franc Zone?," Palgrave Macmillan Books, in: Jaime Reis (ed.), International Monetary Systems in Historical Perspective, chapter 3, pages 71-89, Palgrave Macmillan.
    14. Patricia S. Pollard, 1997. "The role of the euro as an international currency," Working Papers 1997-021, Federal Reserve Bank of St. Louis.
    15. Marc Flandreau, 1995. "Was the Latin Union a Franc Zone ?," Post-Print hal-03567485, HAL.
    16. Inman, Robert P. & Rubinfeld, Daniel L., 1994. "The EMU and fiscal policy in the new European Community: An issue for economic federalism," International Review of Law and Economics, Elsevier, vol. 14(2), pages 147-161, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Pompeo Della Posta, 2005. "Fundamentals, International Role of Euro and 'Framing' of Expectations: What are the Determinants of the Dollar/Euro Exchange Rate?," Working Papers de Economia (Economics Working Papers) 24, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Demertzis, Maria & Hughes Hallett, Andrew, 1999. "EMU and the External Value of the Euro," CEPR Discussion Papers 2058, C.E.P.R. Discussion Papers.
    2. Robert McCauley, 1999. "The Euro and the Dollar, 1998," Open Economies Review, Springer, vol. 10(1), pages 91-133, February.
    3. Giancarlo Corsetti & Paolo Pesenti, 1999. "Stability, Asymmetry, and Discontinuity: The Launch of European Monetary Union," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 30(2), pages 295-372.
    4. Jacks, David S., 2009. "On the death of distance and borders: Evidence from the nineteenth century," Economics Letters, Elsevier, vol. 105(3), pages 230-233, December.
    5. Lars Jonung & Eoin Drea, 2010. "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989–2002," Econ Journal Watch, Econ Journal Watch, vol. 7(1), pages 1-4–52, January.
    6. Arestis, Philip & McCauley, Kevin & Sawyer, Malcolm, 2001. "An Alternative Stability Pact for the European Union," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(1), pages 113-130, January.
    7. Michele Fratianni & Andreas Hauskrecht & Aurelio Maccario, 1998. "Dominant Currencies and the Future of the Euro," Open Economies Review, Springer, vol. 9(1), pages 467-492, January.
    8. Pierre-Olivier Gourinchas & Hélène Rey & Maxime Sauzet, 2019. "The International Monetary and Financial System," Annual Review of Economics, Annual Reviews, vol. 11(1), pages 859-893, August.
    9. Melitz, Jacques, 2001. "Geography, Trade and Currency Union," CEPR Discussion Papers 2987, C.E.P.R. Discussion Papers.
    10. Maria Caporale, Guglielmo & M. Soliman, Alaa, 2009. "The Asymmetric Effects of a Common Monetary Policy in Europe," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 24, pages 455-475.
    11. Frankel, Jeffrey, 2012. "Internationalization of the RMB and Historical Precedents," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 27, pages 329-365.
    12. Yano, Takashi & Kosaka, Hiroyuki, 1999. "An Empirical Analysis on Optimal Macroeconomic Policy Coordination in EMU Countries," ERSA conference papers ersa99pa090, European Regional Science Association.
    13. Philip Arestis & Malcolm Sawyer, 1999. "The Economic and Monetary Union: Current and Future Prospects," Economics Working Paper Archive wp_282, Levy Economics Institute.
    14. Siebert, Horst, 1998. "Die Europäische Währungsunion: was zu tun und was zu lassen ist," Kiel Working Papers 854, Kiel Institute for the World Economy (IfW Kiel).
    15. Ayako Saiki, 2005. "Asymmetric Effect of Currency Union for Developing Countries," Open Economies Review, Springer, vol. 16(3), pages 227-247, July.
    16. Samuel Standaert & Stijn Ronsse & Benjamin Vandermarliere, 2014. "Historical trade integration: Globalization and the distance puzzle in the long 20th century," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 14/897, Ghent University, Faculty of Economics and Business Administration.
    17. Roger Vicquéry, 2021. "The Common Currency Effect on International Trade: Evidence from an Accidental Monetary Union," Working papers 856, Banque de France.
    18. Neaime, Simon & Paschakis, John, 2002. "The future of the dollar-euro exchange rate," The North American Journal of Economics and Finance, Elsevier, vol. 13(1), pages 56-71, May.
    19. Benjamín J Cohen, 2000. "Life at the Top: International Currencies in the 21st Century," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 37(110), pages 9-34.
    20. Philip Arestis & Malcolm Sawyer, 2001. "Will the Euro Bring Economic Crisis to Europe?," Palgrave Macmillan Books, in: Philip Arestis & Michelle Baddeley & John McCombie (ed.), What Global Economic Crisis?, chapter 5, pages 78-103, Palgrave Macmillan.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:worbus:v:34:y:1999:i:2:p:171-192. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/620401/description#description .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.