The global economic and financial crisis has lent new impetus to discussions of the future of the international monetary and financial system. Some advocate moving to a multipolar system in which the US dollar shares its international currency role with the euro, the Chinese renminbi and/or the IMF’s Special Drawing Rights.
When did the dollar overtake sterling as the leading international currency? Evidence from the bond markets
Barry Eichengreen, Arnaud Mehl, Livia Chiţu, 23 May 2012
Memory and the dollar
Rebecca Hellerstein, William Ryan, 6 February 2010
Since the Second World War, the dollar has been the currency used most commonly in financial, trade, and cash transactions worldwide. Whether that will remain the case is the subject of an intensifying debate in global financial circles.
Forecasting the euro’s future
Benjamin J. Cohen, 13 September 2008
The upcoming tenth anniversary of Europe’s Economic and Monetary Union (EMU) has sparked much discussion over the future of the euro as an international currency. For many economists, it is only a matter of time until the euro overtakes America’s greenback.
The euro could surpass the dollar within ten years
Jeffrey Frankel, 18 March 2008
The International Economy recently asked experts: Ten years from now, which will likely be the next great global currency?
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Adelman, 28 October 2013
Reichlin, Giugliano, 7 November 2013
Holmes, McGrattan, Prescott
Beck, De Haas, Ongena