115 countries over 1999-2019. We find that standard mechanisms that foster use of a large economy's currency predicted by … currency. Fundamentals and policies have played a contrasted role for the use of the renminbi. We find that China's integration …, the establishment of currency swap lines by the People's Bank of China has been associated with increases in renminbi …

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 …

. Moreover, the central role of the U.S. dollar in global trade invoicing and financing - the dominant currency paradigm - and …

We develop a two-country business-cycle model of the US and the rest of the world with dollar dominance in trade … conditions tighten, the world business cycle slows down, and emerging-market central banks face a trade-off between mitigating … of the Global Financial Cycle to the world economy. …

currency paradigm (Gopinath et al. (2020)), import prices and quantities respond strongly to a country’s exchange rate with the …

115 countries over 1999-2019. We find that standard mechanisms that foster use of a large economy's currency predicted by … currency. Fundamentals and policies have played a contrasted role for the use of the renminbi. We find that China's integration …, the establishment of currency swap lines by the People's Bank of China has been associated with increases in renminbi …

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 …

115 countries over 1999-2019. We find that standard mechanisms that foster use of a large economy's currency predicted by … currency. Fundamentals and policies have played a contrasted role for the use of the renminbi. We find that China's integration …, the establishment of currency swap lines by the People's Bank of China has been associated with increases in renminbi …