IDEAS home Printed from https://ideas.repec.org/a/rei/ecoins/v18y2016i34p69-85.html
   My bibliography  Save this article

La jerarquía de monedas nacionales y los problemas financieros actuales

Author

Listed:
  • Pilar Piqué

Abstract

Este artículo desarrolla el concepto de jerarquía de monedas nacionales para contextualizar la estructura monetaria y financiera mundial y su relación con los rasgos centrales del capitalismo actual. Examina los desequilibrios permanentes de cuenta corriente, los cambios en los objetivos de los bancos centrales, los problemas del sistema financiero actual y los límites de las instituciones financieras para formular un programa de reformas estructurales.

Suggested Citation

  • Pilar Piqué, 2016. "La jerarquía de monedas nacionales y los problemas financieros actuales," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 18(34), pages 69-85, January-J.
    • Handle: RePEc:rei:ecoins:v:18:y:2016:i:34:p:69-85
    as

    Download full text from publisher

    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/ppique34.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dani Rodrik, 2006. "The social cost of foreign exchange reserves," International Economic Journal, Taylor & Francis Journals, vol. 20(3), pages 253-266.
    2. Michael P. Dooley & David Folkerts-Landau & Peter M. Garber, 2005. "An essay on the revived Bretton Woods system," Proceedings, Federal Reserve Bank of San Francisco, issue Feb.
    3. Joshua Aizenman & Jaewoo Lee, 2007. "International Reserves: Precautionary Versus Mercantilist Views, Theory and Evidence," Open Economies Review, Springer, vol. 18(2), pages 191-214, April.
    4. Ocampo José Antonio, 2010. "Building an SDR-Based Global Reserve System," Journal of Globalization and Development, De Gruyter, vol. 1(2), pages 1-15, December.
    5. Mathias Dewatripont & Xavier Freixas & Richard Portes, 2009. "Macroeconomic Stability and Financial Regulation," Post-Print halshs-00754869, HAL.
    6. Eichengreen, Barry, 2012. "Exorbitant Privilege: The Rise and Fall of the Dollar," OUP Catalogue, Oxford University Press, number 9780199642472, Decembrie.
    7. Martin Feldstein, 1999. "Self-Protection for Emerging Market Economies," NBER Working Papers 6907, National Bureau of Economic Research, Inc.
    8. Mathias Dewatripont & Xavier Freixas, 2009. "Macroeconomic Stability and Financial Regulation: Key Issues for the G20," ULB Institutional Repository 2013/301127, ULB -- Universite Libre de Bruxelles.
    9. Maurice Obstfeld & Kenneth S. Rogoff, 2009. "Global imbalances and the financial crisis: products of common causes," Proceedings, Federal Reserve Bank of San Francisco, issue Oct, pages 131-172.
    10. Pierre-Olivier Gourinchas & Hélène Rey, 2007. "From World Banker to World Venture Capitalist: US External Adjustment and the Exorbitant Privilege," NBER Chapters, in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 11-66, National Bureau of Economic Research, Inc.
    11. Mr. Joshua Aizenman & Mr. Jaewoo Lee, 2005. "International Reserves: Precautionary vs. Mercantilist Views, Theory and Evidence," IMF Working Papers 2005/198, International Monetary Fund.
    12. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
    13. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
    Full references (including those not matched with items on IDEAS)

    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. Torija-Zane, Edgardo, 2015. "Bancos centrales “periféricos”: el caso de América Latina," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 39989.
    2. D. Essers & E. Vincent, 2017. "The global financial safety net :In need of repair ?," Economic Review, National Bank of Belgium, issue ii, pages 87-112, september.
    3. Anne‐Laure Delatte & Julien Fouquau, 2012. "What Drove the Massive Hoarding of International Reserves in Emerging Economies? A Time‐varying Approach," Review of International Economics, Wiley Blackwell, vol. 20(1), pages 164-176, February.
    4. Anne-Laure Delatte & Julien Fouquau, 2012. "What drove the massive hoarding of international reserves? A time-varying approach," Post-Print hal-00822294, HAL.
    5. Yeonjeong Lee & Seong-Min Yoon, 2020. "Relationship between International Reserves and FX Rate Movements," Sustainability, MDPI, vol. 12(17), pages 1-24, August.
    6. Alfaro, Laura & Kanczuk, Fabio, 2009. "Optimal reserve management and sovereign debt," Journal of International Economics, Elsevier, vol. 77(1), pages 23-36, February.
    7. Cheung, Yin-Wong & Sengupta, Rajeswari, 2011. "Accumulation of reserves and keeping up with the Joneses: The case of LATAM economies," International Review of Economics & Finance, Elsevier, vol. 20(1), pages 19-31, January.
    8. Jeanne, Olivier, 2012. "The dollar and its discontents," Journal of International Money and Finance, Elsevier, vol. 31(8), pages 1976-1989.
    9. Philip R. Lane & Sergio L. Schmukler, 2006. "The international financial integration of China and India," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    10. Aizenman, Joshua & Inoue, Kenta, 2013. "Central banks and gold puzzles," Journal of the Japanese and International Economies, Elsevier, vol. 28(C), pages 69-90.
    11. Steiner, Andreas, 2014. "Current account balance and dollar standard: Exploring the linkages," Journal of International Money and Finance, Elsevier, vol. 41(C), pages 65-94.
    12. Tomasz Serwach, 2013. "Renminbi jako waluta miedzynarodowa - stan obecny oraz ocena perspektyw / Renminbi as international currency - current state and potential perspectives," International Economics, University of Lodz, Faculty of Economics and Sociology, issue 4, pages 39-53, December.
    13. Zarate, Cristina A., 2008. "Una Nota sobre Reserva Óptima y Riesgo Soberano: el caso Argentino 1997-2007 [A note on optimal reserves and sovereign risk: Argentina's case 1997-2007]," MPRA Paper 12086, University Library of Munich, Germany.
    14. Konstantin Egorov & Dmitry Mukhin, 2020. "Optimal Policy under Dollar Pricing," Working Papers w0261, New Economic School (NES).
    15. Javier Gómez Restrepo & Juan Sebastián Rojas Bohorquez, 2013. "Assessing Reserve Adequacy: The Colombian Case," Borradores de Economia 10981, Banco de la Republica.
    16. Wilfredo L. Maldonado & Jorge Guillén & Jussara Ribeiro, 2021. "An international reserves variation threshold to increase loan funding," International Economics and Economic Policy, Springer, vol. 18(2), pages 247-265, May.
    17. Camilo González & Luisa F. Silva & Carmiña O. Vargas & Andrés M. Velasco, 2013. "An exploration on interbank markets and the operational framework of monetary policy in Colombia," Borradores de Economia 10982, Banco de la Republica.
    18. Steiner, Andreas, 2014. "Reserve accumulation and financial crises: From individual protection to systemic risk," European Economic Review, Elsevier, vol. 70(C), pages 126-144.
    19. Aizenman, Joshua, 2019. "A modern reincarnation of Mundell-Fleming's trilemma," Economic Modelling, Elsevier, vol. 81(C), pages 444-454.
    20. Mika Nieminen, 2017. "Patterns of international capital flows and their implications for developing countries," WIDER Working Paper Series wp-2017-171, World Institute for Development Economic Research (UNU-WIDER).

    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:rei:ecoins:v:18:y:2016:i:34:p:69-85. 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: Paola Rodríguez (email available below). General contact details of provider: https://edirc.repec.org/data/feextco.html .

    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.