economy. The measure of a currency's global role is based on the size and stage of development of the underlying economy, as … currency. The paper applies the concept to 22 currencies of advanced and emerging economies. The results confirm the well … measure in detail, arguing that in view of financial globalisation, an indicator based on currency shares in the international …

We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency … invoicing. Our approach uses a compositional multinomial logit model, in which currency choice is explained by both currency … countries for the 1996-2006 period. We find that eurozone countries have substantially increased their share of home currency …

stability of invoicing currency patterns. But the evidence also points to several novel stylised facts. First, both the US … the euro area has declined. Second, the euro is used as a vehicle currency in parts of Africa, and some European countries … have seen significant shifts toward euro invoicing. And third, as suggested by the dominant currency paradigm, countries …

This paper provides insights into the determinants of currency choice in cross-border bank lending, such as bilateral … distance, financial and trade linkages to issuer countries of major currencies, and invoicing currency patterns. Cross …

This paper focuses on changes in the currency options market’s assessment of likely future exchange rate developments … with systematic changes in all moments of the estimated RNDs on the JPY/USD currency pair, and in several of the moments of … the estimated RNDs on the JPY/EUR and USD/EUR currency pairs. In particular, the operations where Japanese yen is sold …

participating currencies are in effect identical from inception of a currency union, the convergence process to such an identical …