The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency?:
"We present new evidence on the currency composition of foreign exchange reserves in the 1920s and 1930s. Contrary to the presumption that the pound sterling continued to dominate the U.S. dollar in central bank reserves until after World War II, we show that the dollar first overtook sterling...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2008
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
14154 |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "We present new evidence on the currency composition of foreign exchange reserves in the 1920s and 1930s. Contrary to the presumption that the pound sterling continued to dominate the U.S. dollar in central bank reserves until after World War II, we show that the dollar first overtook sterling in the mid-1920s. This suggests that the network effects thought to lend inertia to international currency status and to create incumbency advantages for the dominant international currency do not apply in the reserve currency domain. Our new evidence is similarly incompatible with the notion that there is only room in the market for one dominant reserve currency at a point in time. Our findings have important implications for our understanding of interwar monetary history but also for the prospects of the dollar and the euro as reserve currencies"--National Bureau of Economic Research web site |
| Beschreibung: | 30 S. graph. Darst. 22 cm |
Internformat
MARC
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| 245 | 1 | 0 | |a The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? |c Barry Eichengreen ; Marc Flandreau |
| 264 | 1 | |a Cambridge, Mass. |b National Bureau of Economic Research |c 2008 | |
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| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 14154 | |
| 520 | 8 | |a "We present new evidence on the currency composition of foreign exchange reserves in the 1920s and 1930s. Contrary to the presumption that the pound sterling continued to dominate the U.S. dollar in central bank reserves until after World War II, we show that the dollar first overtook sterling in the mid-1920s. This suggests that the network effects thought to lend inertia to international currency status and to create incumbency advantages for the dominant international currency do not apply in the reserve currency domain. Our new evidence is similarly incompatible with the notion that there is only room in the market for one dominant reserve currency at a point in time. Our findings have important implications for our understanding of interwar monetary history but also for the prospects of the dollar and the euro as reserve currencies"--National Bureau of Economic Research web site | |
| 700 | 1 | |a Flandreau, Marc |d 1967- |e Verfasser |0 (DE-588)123416000 |4 aut | |
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| 810 | 2 | |a National Bureau of Economic Research <Cambridge, Mass.> |t NBER working paper series |v 14154 |w (DE-604)BV002801238 |9 14154 | |
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Datensatz im Suchindex
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| id | DE-604.BV023594031 |
| illustrated | Illustrated |
| index_date | 2024-07-02T22:41:33Z |
| indexdate | 2024-07-09T21:25:16Z |
| institution | BVB |
| language | English |
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| physical | 30 S. graph. Darst. 22 cm |
| publishDate | 2008 |
| publishDateSearch | 2008 |
| publishDateSort | 2008 |
| publisher | National Bureau of Economic Research |
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| series2 | Working paper series / National Bureau of Economic Research |
| spelling | Eichengreen, Barry 1952- Verfasser (DE-588)121986012 aut The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? Barry Eichengreen ; Marc Flandreau Cambridge, Mass. National Bureau of Economic Research 2008 30 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 14154 "We present new evidence on the currency composition of foreign exchange reserves in the 1920s and 1930s. Contrary to the presumption that the pound sterling continued to dominate the U.S. dollar in central bank reserves until after World War II, we show that the dollar first overtook sterling in the mid-1920s. This suggests that the network effects thought to lend inertia to international currency status and to create incumbency advantages for the dominant international currency do not apply in the reserve currency domain. Our new evidence is similarly incompatible with the notion that there is only room in the market for one dominant reserve currency at a point in time. Our findings have important implications for our understanding of interwar monetary history but also for the prospects of the dollar and the euro as reserve currencies"--National Bureau of Economic Research web site Flandreau, Marc 1967- Verfasser (DE-588)123416000 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 14154 (DE-604)BV002801238 14154 http://papers.nber.org/papers/w14154.pdf kostenfrei Volltext |
| spellingShingle | Eichengreen, Barry 1952- Flandreau, Marc 1967- The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? |
| title | The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? |
| title_auth | The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? |
| title_exact_search | The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? |
| title_exact_search_txtP | The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? |
| title_full | The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? Barry Eichengreen ; Marc Flandreau |
| title_fullStr | The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? Barry Eichengreen ; Marc Flandreau |
| title_full_unstemmed | The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? Barry Eichengreen ; Marc Flandreau |
| title_short | The rise and fall of the dollar, or when did the dollar replace sterling as the leading international currency? |
| title_sort | the rise and fall of the dollar or when did the dollar replace sterling as the leading international currency |
| url | http://papers.nber.org/papers/w14154.pdf |
| volume_link | (DE-604)BV002801238 |
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