Ανάρτηση Ερευνητικού Δοκιμίου no 05/26

Ερευνητικό Δοκίμιο no 05/26 με τίτλο "A Perspective on International Monetary Leadership From Silver and Gold to the Dollar Standard"

του Γεώργιου Αλογοσκούφη

Περίληψη

This paper provides a historical perspective and analysis of the evolution and performance of the international monetary system since the early 19th century, focusing on the asymmetric role of international reserve currencies, monetary policy rules and exchange rate regimes. It examines the operation of international bimetallism, the transition to the international gold standard and its operation, the attempts to restore it as a gold exchange standard in the interwar period,  the establishment and operation of the dollar based Bretton Woods system after World War II, the demonetisation of gold, and the transition to floating and managed exchange rates in the early 1970s. It focuses on the dollar standard of the post-war period and also examines the emergence of the euro and the renminbi as regional challengers to the dollar. The analysis concludes that, barring an international upheaval of historical proportions, the domination of the dollar as the key international reserve currency is unlikely to be challenged by the euro or the renminbi in the foreseeable future.

O Γεώργιος Αλογοσκούφης είναι Ομότιμος Καθηγητής  Οικονομικής Επιστήμης στο Οικονομικό Πανεπιστήμιο Αθηνών.