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dc.contributor.authorFields, Daviden_US
dc.contributor.authorVernengo, Matíasen_US
dc.date.accessioned2011-05-06en_US
dc.date.accessioned2012-04-12T14:26:21Z-
dc.date.available2012-04-12T14:26:21Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/57078-
dc.description.abstractThis paper suggests that the dollar is not threatened as the hegemonic international currency, and that most analysts are incapable of understanding the resilience of the dollar, not only because they ignore the theories of monetary hegemonic stability or what, more recently, has been termed the geography of money; but also as a result of an incomplete understanding of what a monetary hegemon does. The hegemon is not required to maintain credible macroeconomic policies (i.e., fiscally contractionary policies to maintain the value of the currency), but rather to provide an asset free of the risk of default. It is argued that the current crisis in Europe illustrates why the euro is not a real contender for hegemony in the near future.en_US
dc.language.isoengen_US
dc.publisherLevy Economics Inst. Annandale-on-Hudson, NYen_US
dc.relation.ispartofseriesWorking paper, Levy Economics Institute 666en_US
dc.subject.jelF31en_US
dc.subject.jelF33en_US
dc.subject.jelF55en_US
dc.subject.ddc330en_US
dc.subject.keywordDollaren_US
dc.subject.keywordEuroen_US
dc.subject.keywordinternational currencyen_US
dc.subject.stwReservewährungen_US
dc.subject.stwInternationales Währungssystemen_US
dc.subject.stwWährungswettbewerben_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwUS-Dollaren_US
dc.subject.stwEuroen_US
dc.titleHegemonic currencies during the crisis: The dollar versus the euro in a cartalist perspectiveen_US
dc.typeWorking Paperen_US
dc.identifier.ppn657428159en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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