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Bude americký dolar nadále dominantní světovou rezervní měnou?
[Will Us Dollar Continue as the World Most Important Reserve Currency?]

Author

Listed:
  • Kamil Janáček
  • Luboš Komárek

Abstract

The article aims to show both the still very strong position of the USD in the global financial system and assess its likely future position. It illustrates that although the U.S. is no longer the dominant global economic power that it was when the dollar became the global reserve currency, the dollar so far is not in immediate danger of losing its privileged position. Despite the challenges facing the USD as the global reserve currency, it continues its dominant role since no other currency has shown itself strong and credible enough to replace it. Considerations on replacing dollar with other currency are no more than a speculation.

Suggested Citation

  • Kamil Janáček & Luboš Komárek, 2012. "Bude americký dolar nadále dominantní světovou rezervní měnou?
    [Will Us Dollar Continue as the World Most Important Reserve Currency?]
    ," Politická ekonomie, University of Economics, Prague, vol. 2012(1), pages 3-19.
  • Handle: RePEc:prg:jnlpol:v:2012:y:2012:i:1:id:829:p:3-19
    as

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    References listed on IDEAS

    as
    1. Linda S. Goldberg, 2010. "Is the international role of the dollar changing?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 16(Jan).
    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. Sjaastad, Larry A. & Scacciavillani, Fabio, 1996. "The price of gold and the exchange rate," Journal of International Money and Finance, Elsevier, vol. 15(6), pages 879-897, December.
    4. Jan Frait & Luboš Komárek, 2006. "Půlstoletí vývoje světových peněz
      [Half a century of the world money development]
      ," Politická ekonomie, University of Economics, Prague, vol. 2006(3).
    5. Barry Eichengreen, 2005. "Sterling's Past, Dollar's Future: Historical Perspectives on Reserve Currency Competition," NBER Working Papers 11336, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Oxana Babecka Kucharcukova & Alexis Derviz & Vaclav Hausenblas & Michal Hlavacek & Mark Joy & Narcisa Kadlcakova & Lubos Komarek & Zlatuse Komarkova & Tomas Konecny & Ivana Kubicova & Jitka Lesanovska, 2014. "Macroprudential Research: Selected Issues," Occasional Publications - Edited Volumes, Czech National Bank, Research Department, edition 2, volume 12, number rb12/2 edited by Jan Babecky & Borek Vasicek.
    2. Frantisek Brazdik & Jan Bruha & Michal Franta & David Havrlant & Tibor Hledik & Tomas Holub & Zuzana Humplova & Frantisek Kopriva & Jiri Polansky & Marek Rusnak & Jaromir Tonner, 2015. "Forecasting," Occasional Publications - Edited Volumes, Czech National Bank, Research Department, edition 1, volume 13, number rb13/1 edited by Jan Babecky & Kamil Galuscak.
    3. Michal Andrle & Oxana Babecka Kucharcukova & Jaromir Baxa & Jan Bruha & Peter Claeys & Jan Filacek & Jakub Mateju & Miroslav Plasil & Serhat Solmaz & Borek Vasicek, 2015. "Monetary Policy Challenges in a Low-Inflation Environment," Occasional Publications - Edited Volumes, Czech National Bank, Research Department, edition 2, volume 13, number rb13/2 edited by Jan Babecky & Michal Franta.

    More about this item

    Keywords

    US dollar; FX reserves; renminbi;

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative

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