Since EMU represents a currency area with a GDP level and a world market share comparable to the United States, it is widely expected that the euro will become an important international currency. This paper suggests simple methods of how to quantify the effects that EMU may exert on the roles...

This paper estimates demand functions for international reserves and projects the effects of EMU on the level and the composition of international reserves both of the European Central Bank and of non-EMU central banks. Furthermore, this paper investigates possible shifts in the currency...

Since EMU represents a currency area with a GDP level and a world market share comparable to the United States, it is widely expected that the euro will become an important international currency. This paper suggests simple methods how to quantify the effects that EMU may exert on the roles of...

The decline in the use of cash and the emergence of innovative digital payment systems have prompted the ECB, like many other central banks, to consider introducing its currency in digital form. The technological problems of introducing a digital euro do not appear unsurmountable. However, one...