How global currencies work : past, present, and future / Barry Eichengreen, Arnaud Mehl, Livia Chițu.
Eichengreen, Barry J., author.; Mehl, Arnaud, author.; Chitu, Livia, author.
2018
HG3881 .E53 2018eb
Available Online

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Title How global currencies work : past, present, and future / Barry Eichengreen, Arnaud Mehl, Livia Chițu.
Author Eichengreen, Barry J., author.
ISBN 9781400888573 (electronic book)
1400888573 (electronic book)
9780691177007
0691177007
Published Princeton, New Jersey : Princeton University Press, [2018]
Copyright ©2018
Language English
Description 1 online resource (xv, 250 pages) : illustrations
Call Number HG3881 .E53 2018eb
Dewey Decimal Classification 332/.042
Summary "At first glance, the modern history of the global economic system seems to support the long-held view that the leading world power's currency--the British pound, the U.S. dollar, and perhaps someday the Chinese yuan--invariably dominates international trade and finance. In How Global Currencies Work, three noted economists provide a reassessment of this history and the theories behind the conventional wisdom. Offering a new history of global finance over the past two centuries, and marshaling extensive new data to test established theories of how global currencies work, Barry Eichengreen, Arnaud Mehl, and Livia Chiţu argue for a new view, in which several national monies can share international currency status, and their importance can change rapidly. They demonstrate how changes in technology and in the structure of international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. They show that multiple international and reserve currencies have in fact coexisted in the pastupending the traditional view of the British pound's dominance prior to 1945 and the U.S. dollar's dominance more recently.Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, from whether the euro and the Chinese yuan might address their respective challenges and perhaps rival the dollar, to how increased currency competition might affect global financial stability."--Publisher description.
Note "At first glance, the modern history of the global economic system seems to support the long-held view that the leading world power's currency--the British pound, the U.S. dollar, and perhaps someday the Chinese yuan--invariably dominates international trade and finance. In How Global Currencies Work, three noted economists provide a reassessment of this history and the theories behind the conventional wisdom. Offering a new history of global finance over the past two centuries, and marshaling extensive new data to test established theories of how global currencies work, Barry Eichengreen, Arnaud Mehl, and Livia Chiţu argue for a new view, in which several national monies can share international currency status, and their importance can change rapidly. They demonstrate how changes in technology and in the structure of international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. They show that multiple international and reserve currencies have in fact coexisted in the pastupending the traditional view of the British pound's dominance prior to 1945 and the U.S. dollar's dominance more recently.Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, from whether the euro and the Chinese yuan might address their respective challenges and perhaps rival the dollar, to how increased currency competition might affect global financial stability."--Publisher description.
Bibliography, etc. Note Includes bibliographical references (pages 201-244) and index.
Access Note Access limited to authorized users.
Source of Description Description based on print version record.
Added Author Mehl, Arnaud, author.
Chitu, Livia, author.
Available in Other Form How global currencies work.
Linked Resources Online Access
Record Appears in Online Resources > Ebooks
All Resources
The Origins of Foreign Balances
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Evidence from International Bond Markets
Reserve Currency Competition in the Second Half of the Twentieth Century
The Retreat of Sterling
The Rise and Fall of the Yen
The Euro as Second in Command
Prospects for the Renminbi.

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