Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/40266 
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dc.contributor.authorFrenkel, Michaelen
dc.contributor.authorSøndergaard, Jensen
dc.date.accessioned2010-07-27-
dc.date.accessioned2010-09-24T14:29:44Z-
dc.date.available2010-09-24T14:29:44Z-
dc.date.issued1999-
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
dc.language.isoengen
dc.publisher|aDeutsche Bank Research |cFrankfurt a. M.en
dc.relation.ispartofseries|aResearch Notes |x99-5en
dc.subject.jelF02en
dc.subject.jelF21en
dc.subject.jelF36en
dc.subject.ddc330en
dc.subject.keywordInternational Economic Integrationen
dc.subject.keywordLong-Term Capital Movementsen
dc.subject.keywordFinancial Aspects of Economic Integrationen
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwEuroen
dc.subject.stwUS-Dollaren
dc.subject.stwYenen
dc.subject.stwReservewährungen
dc.subject.stwPortfolio-Investitionen
dc.subject.stwDevisenmarkten
dc.subject.stwSchätzungen
dc.subject.stwWelten
dc.titleHow does EMU affect the dollar and the yen as international reserve and investment currencies?-
dc.typeWorking Paperen
dc.identifier.ppn821867873en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:dbrrns:995en

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