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- Title
A NEW INTERNATIONAL MONETARY SYSTEM ON THE HORIZON?
- Authors
DRAGOE, Sebastian-Ilie; OPREAN-STAN, Camelia
- Abstract
The international monetary system suffers from many imbalances that undermine the stability of the world financial system. The dollar is at the heart of this system. As a global currency, the dollar forms the bulk of international reserves held by central banks and is the most used currency in international commercial transactions. This demand creates a countervailing force that causes dollars to exit from US, thus producing a trade balance deficit. In this paper, we will support the widening of the SDR currency basket, demonstrating with the ARCH family models that the EUR / SDR exchange rate is less volatile than the EUR/USD exchange rate.
- Subjects
MONETARY systems; INTERNATIONAL finance; ARCH model (Econometrics); FOREIGN exchange rates; BANKING industry
- Publication
Economic Computation & Economic Cybernetics Studies & Research, 2018, Vol 52, Issue 1, p89
- ISSN
0424-267X
- Publication type
Article
- DOI
10.24818/18423264/52.1.18.06