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Global Currencies for Tomorrow: A European Perspective

Author

Listed:
  • André Sapir
  • Jean Pisani-Ferry

Abstract

This report examines possible scenarios for the evolution of the international monetary system (IMS) and their implications for the euro area, within a 15-year perspective. The report reviews the lessons from the history of the international monetary system (IMS), analyses the current IMS, assesses global trends that are going to affect the evolution of the IMS and presents and assesses three main scenarios for the IMS: a repair-and-improve scenario, a multipolar scenario and a multilateral scenario.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • André Sapir & Jean Pisani-Ferry, 2011. "Global Currencies for Tomorrow: A European Perspective," ULB Institutional Repository 2013/174278, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:ulb:ulbeco:2013/174278
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    Cited by:

    1. Agnès Bénassy-Quéré & Yeganeh Forouheshfar, 2013. "The Impact of Yuan Internationalization on the Euro-Dollar Exchange Rate," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00961708, HAL.
    2. Boubakri, Salem & Guillaumin, Cyriac, 2015. "Regional integration of the East Asian stock markets: An empirical assessment," Journal of International Money and Finance, Elsevier, vol. 57(C), pages 136-160.
    3. Robert W. Włodarczyk, 2014. "Is There a Global Currency War?," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 2(2), pages 21-30.
    4. Masahiro Kawai, 2014. "Asian Monetary Integration : A Japanese Perspective," Governance Working Papers 24158, East Asian Bureau of Economic Research.
    5. 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.
    6. Pietro Alessandrini & Andrea Presbitero, 2012. "Low-Income Countries and an SDR-based International Monetary System," Open Economies Review, Springer, vol. 23(1), pages 129-150, February.
    7. Pietro Alessandrini & Andrea Filippo Presbitero, 2011. "Low-Income Countries Vulnerabilities and the Need for an SDR-Based International Monetary System," Mo.Fi.R. Working Papers 55, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    8. Agnès Bénassy-Quéré, 2015. "The euro as an international currency," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01144371, HAL.
    9. Agnès Bénassy-Quéré & Damien Capelle, 2014. "On the inclusion of the Chinese renminbi in the SDR basket," International Economics, CEPII research center, issue 139, pages 133-151.
    10. Eswar S. Prasad & Lei Ye, . "The renminbi’s role in the global monetary system," Proceedings, Federal Reserve Bank of San Francisco.
    11. Tamer Rawashdeh & Mahmoud Al-Rdaydeh & Basem Hamouri, 2020. "The Effect of International Currency Crises on the Balance of Payments: Evidence From Jordan," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(5), pages 275-284, October.
    12. Prasad, Eswar & Ye, Lei (Sandy), 2012. "The Renminbi's Role in the Global Monetary System," IZA Discussion Papers 6335, Institute of Labor Economics (IZA).
    13. Eswar Prasad, 2014. "Global Implications of the Renminbi’s Ascendance," ADBI Working Papers 469, Asian Development Bank Institute.
    14. Robert N McCauley & Catherine R Schenk, 2014. "Reforming the international monetary system in the 1970s and 2000s: would an SDR substitution account have worked?," BIS Working Papers 444, Bank for International Settlements.
    15. Chiţu, Livia, 2016. "Reserve accumulation, inflation and moral hazard: Evidence from a natural experiment," Working Paper Series 1880, European Central Bank.
    16. Shahin Vallée, 2012. "Paths to eurobonds," Bruegel Working Papers 733, Bruegel.
    17. MĂRGINEAN Silvia Cristina & ORĂȘTEAN Ramona, 2020. "The Challenges Of Reforming The International Monetary System In The Post Covid-19 World," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 15(3), pages 61-73, December.
    18. Seghezza, Elena & Morelli, Pierluigi, 2018. "Rule of law and balance of power sustain US dollar preeminence," Journal of Policy Modeling, Elsevier, vol. 40(1), pages 16-36.
    19. Bénassy-Quéré, Agnès & Forouheshfar, Yeganeh, 2015. "The impact of yuan internationalization on the stability of the international monetary system," Journal of International Money and Finance, Elsevier, vol. 57(C), pages 115-135.
    20. Miguel Otero-Iglesias & Federico Steinberg, 2013. "Is the Dollar Becoming a Negotiated Currency? Evidence from the Emerging Markets," New Political Economy, Taylor & Francis Journals, vol. 18(3), pages 309-336, June.
    21. Ignazio Angeloni & André Sapir, 2011. "The international monetary system is changing- what opportunities and risks for the euro?," Bruegel Working Papers 632, Bruegel.
    22. Miguel Otero-Iglesias & Federico Steinberg, 2013. "Reframing the euro vs. dollar debate through the perceptions of financial elites in key dollar-holding countries," Review of International Political Economy, Taylor & Francis Journals, vol. 20(1), pages 180-214, February.
    23. Suman Bery & Filippo Biondi & Sybrand Brekelmans, 2019. "Twenty years of the G20: Has it changed global economic governance?," Russian Journal of Economics, ARPHA Platform, vol. 5(4), pages 412-440, December.
    24. Allegret, Jean-Pierre & Sallenave, Audrey, 2014. "The impact of real exchange rates adjustments on global imbalances: A multilateral approach," Economic Modelling, Elsevier, vol. 37(C), pages 149-163.

    More about this item

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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