individual countries. The evolution of this aggregate indicator suggests that the US dollar has continuously dominated exchange …

traditional portfolio objectives as debt to reserve ratios decrease. We empirically estimate optimal dollar and euro shares for 24 … reserve ratios, introducing transactions demand has a elatively modest effect. We also find that euro and dollar bonds act as … qualitatively the recent decline in the share of the dollar in emerging market reserves and find that the denomination of foreign …

-known ranking for the leading currencies - in particular the US dollar and the euro - but give considerably greater weight to …

moving the US dollar, yen and euro in the intended direction at horizons of up to three months after G7 meetings, but not at …

left foreign exchange intervention unsterilized when Japan entered the liquidity trap in 1999. According to previous …

liquidity in other major currencies, and the rising current account deficits and external debt of the United States have … increased the pressure on central banks to diversify away from the US dollar. A major portfolio shift would significantly affect … exchange rates and the status of the dollar as the dominant international currency. We develop a dynamic mean …

traditional portfolio objectives as debt to reserve ratios decrease. We empirically estimate optimal dollar and euro shares for 24 … reserve ratios, introducing transactions demand has a relatively modest effect. We also find that euro and dollar bonds act as … qualitatively the recent decline in the share of the dollar in emerging market reserves and find that the denomination of foreign …

This paper assesses whether the international monetary system is already tripolar and centred around the US dollar, the …

moving the US dollar, yen and euro in the intended direction at horizons of up to three months after G7 meetings, but not at …