Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/40266
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dc.contributor.authorFrenkel, Michaelen_US
dc.contributor.authorSøndergaard, Jensen_US
dc.date.accessioned2010-07-27en_US
dc.date.accessioned2010-09-24T14:29:44Z-
dc.date.available2010-09-24T14:29:44Z-
dc.date.issued1999en_US
dc.identifier.urihttp://hdl.handle.net/10419/40266-
dc.description.abstractSince EMU represents a currency area with a GDP level and a world market share comparable to the United States, it is widely expected that the euro will become an important international currency. This paper suggests simple methods how to quantify the effects that EMU may exert on the roles of the dollar and the yen as the other major international currencies. Estimates presented indicate that the euro may indeed lead to a significant decline in the market share of the dollar as an official reserve currency of central banks and as an investment currency of private portfolios. These effects hinge on the assumption that the euro will achieve a reputation similar to that of the deutschmark before EMU. The projected shifts can be expected to materialize only in the medium term so that no immediate abrupt changes in the demand for dollars will occur.en_US
dc.language.isoengen_US
dc.publisher|aDeutsche Bank Research |cFrankfurt a. M.en_US
dc.relation.ispartofseries|aResearch notes in economics & statistics |x99-5en_US
dc.subject.jelF02en_US
dc.subject.jelF21en_US
dc.subject.jelF36en_US
dc.subject.ddc330en_US
dc.subject.keywordInternational Economic Integrationen_US
dc.subject.keywordLong-Term Capital Movementsen_US
dc.subject.keywordFinancial Aspects of Economic Integrationen_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwEuroen_US
dc.subject.stwUS-Dollaren_US
dc.subject.stwYenen_US
dc.subject.stwReservewährungen_US
dc.subject.stwPortfolio-Investitionen_US
dc.subject.stwDevisenmarkten_US
dc.subject.stwSchätzungen_US
dc.subject.stwWelten_US
dc.titleHow does EMU affect the dollar and the yen as international reserve and investment currencies?en_US
dc.type|aWorking Paperen_US
dc.identifier.ppn821867873en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:dbrrns:995-

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