International Currencies and Endogenous Enforcement : An Empirical Analysis

An Empirical Analysis

International Currencies and Endogenous Enforcement : An Empirical Analysis
This paper investigates the determinants of the international role of a currency. It argues that standard determinants such as monetary performance and financial openness are at best imperfect indicators of a currency's stability prospects, because the issuer's promise of stability is not exogenously enforceable. The paper advocates an... READ MORE...

Publication date: March 1997
ISBN 9781451844764
$15.00

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