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International Finance Discussion Papers - Here, Dollars, Dollars, Estimating Currency Demand and Worldwide Currency Substitution (Paperback)
Loot Price: R412
Discovery Miles 4 120
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International Finance Discussion Papers - Here, Dollars, Dollars, Estimating Currency Demand and Worldwide Currency Substitution (Paperback)
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Loot Price R412
Discovery Miles 4 120
Expected to ship within 10 - 15 working days
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In measuring the percentage of foreign-held U.S., German, and Swiss
currencies for the period of the 1960s through the 1990s, I obtain
estimates much different from those of others. Using currency
demand equations implied by cointegrating vectors for Canada, the
Netherlands, and Austria, I estimate that in 1996 only 30% of U.S.
currency was held outside the United States, and as much as 69% of
German currency was held outside Germany. The U.S. estimate falls
slowly over the 1960s, reaching a low of 5% in the first half of
the 1970s, then rises through the early 1980s and again during the
1990s. Given that foreign holdings of the U.S., German, and Swiss
currencies constitute the bulk of international currency
substitution in the world, I find that, adjusted for inflation,
currency substitution roughly tripled from 1986 to 1996.
General
Imprint: |
Bibliogov
|
Country of origin: |
United States |
Release date: |
February 2013 |
First published: |
February 2013 |
Authors: |
Brian M. Doyle
|
Dimensions: |
246 x 189 x 2mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
34 |
ISBN-13: |
978-1-288-73243-2 |
Categories: |
Books >
Social sciences >
Politics & government >
General
|
LSN: |
1-288-73243-0 |
Barcode: |
9781288732432 |
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