Reserve currencies: Can multiplicity work?

dc.contributor.author	Gupta, Satyendra Kumar
dc.contributor.author	Goyal, Ashima
dc.date.accessioned	2015-08-10T11:12:14Z
dc.date.available	2015-08-10T11:12:14Z
dc.date.issued	2014-03
dc.identifier.uri	http://hdl.handle.net/2275/310
dc.description.abstract	The paper analyzes the potential rise of new reserve currencies in the context of the economic and political determinants of an international currency. Two models analyze the role of soft political power, switching costs to a new currency and transaction costs in the rise of a new currency. Quantitative indices are developed to measure these factors, which are then empirically tested and found to be statistically significant in determining the rise of international currency. The study further explores the greater use of Renminbi in East Asia and the trade integration in this region.	en_US
dc.language.iso	en	en_US
dc.relation.ispartofseries	WP;WP-2014-010
dc.subject	Reserve currencies	en_US
dc.subject	network benefi ts	en_US
dc.subject	transaction costs	en_US
dc.subject	bargaining power	en_US
dc.subject	Renminbi	en_US
dc.title	Reserve currencies: Can multiplicity work?	en_US
dc.type	Working Paper	en_US