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- Title
A PRELIMINARY ASSESSMENT OF THE IMPACT OF FLOATING EXCHANGE RATES ON INTERNATIONAL AND VEHICLE CURRENCY USES OF U.S. DOLLARS.
- Authors
Swanson, Peggy E.
- Abstract
This paper attempts to determine if the international and vehicle currency roles of the U.S. dollar were affected significantly when the United States adopted floating exchange rates in 1973. Thus, the role of dollar transactions in foreigners' demand for U.S. dollars during a period of fixed exchange rates (1965I-1973I) is compared to demand during a period of floating exchange rates (1973II-1983IV). Evidence exists that international and vehicle dollar usage did decrease when exchange rate regimes changed, but the changes are not significant unless dollar balances held in the United States are included in foreigners' holdings.
- Subjects
UNITED States; U.S. dollar; FOREIGN exchange rates
- Publication
Quarterly Journal of Business & Economics, 1987, Vol 26, Issue 2, p3
- ISSN
0747-5535
- Publication type
Article