Search Results - subject_exact:"Währungsdualismus"

Dollar colonisation : the destructive policy implications of modern monetary theory

Lysandrou, Photis - 2026

Modern monetary theory (MMT) argues that all governments that issue their own currency have the same fiscal and monetary policy space. This paper argues against this position. For MMT's assumptions to be valid, MMT must abstract from the gravitational force of the US dollar that stems from it...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655151

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Dollar colonisation : the destructive policy implications of modern monetary theory

Lysandrou, Photis - 2025

Book / Working Paper

Dollarisation waves: new evidence from a comprehensive international bond database

Pradhan, Swapan-Kumar; Prasad, Eswar S.; Takáts, Előd; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609559

Central bank digital currency and Gresham's law : an experimental analysis

Baeriswyl, Romain; Boun My, Kene; Cornand, Camille - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015615535

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Central bank digital currency and Gresham's law : an experimental analysis

Baeriswyl, Romain; Boun My, Kene; Cornand, Camille - 2025

Book / Working Paper

Demand for dollars : evidence from survey expectations

Ballensiefen, Benedikt; Somogyi, Fabricius; Winterberg, … - 2026

We study the determinants of US dollar demand across market participants and traded instruments using survey-based exchange rate and macroeconomic expectations. Leveraging granular FX trading data and forward looking expectations, we present three results. First, currency investors increase...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605616

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Demand for dollars : evidence from survey expectations

Ballensiefen, Benedikt; Somogyi, Fabricius; Winterberg, … - 2026 - This version: 26 April 2026

Edition: This version: 26 April 2026

Book / Working Paper

The dollar and the F-35 : balance-sheet imperialism

Lapabitsas, Kōstas - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015619853

Exchange rate passthrough in Latin America : does dollarization matter?

Notte, Vincent - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625017

Monetary anchors in a digital age : a historical perspective on the ECB's digital euro and US stablecoins

Greitens, Jan - 2026

This paper contributes to current debates surrounding the digital euro and US stablecoins by unpacking the present day relevance of two important episodes in monetary history: Prussia's effort in the 18th century to implement a uniform coinage standard across the Holy Roman Empire, and the 19th...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626439

Determinants of the international use of currencies : implications for US dollar dominance

Itō, Hiro; Kawai, Masahiro - 2026

The US dollar (USD) has long been the dominant international currency. The euro (EUR), UK pound (GBP), Japanese yen (JPY), and other advanced economy (AE) currencies have played complementary roles to the USD as international currencies, while emerging market and developing economy (EMDE)...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628673

Nominal versus real deposit dollarization in Zambia : determinants and monetary policy insights

Funjika, Patricia; Gatawa, Mufara; Ndautu, Kwabala - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641473

U.S. dollar dominance and the role of local currency settlement framework : evidence from Thai exports

Mintrapan Chaeng-lum; Nuwat Nookhwun; Jettawat … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641734

Supply side determinants of loan dollarization : micro-data evidence from Armenia

Grigoryan, Arthur; Geršl, Adam - 2026

This paper examines supply-side determinants of foreign currency loan issuance in the Armenian banking sector using a loan-level credit registry dataset spanning 2003-2024 - one of the longest single-country microdata samples in this literature. We estimate a binary logit model with bank and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641894

Original sin, sovereign default, and the limits of the fiscal theory of the price level

Ocampo, Emilio - 2026

The Fiscal Theory of the Price Level (FTPL) argues that inflation adjusts to ensure that the real value of government liabilities equals the expected present value of future primary surpluses. This mechanism is plausible in economies whose public debt is predominantly denominated in domestic...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015656459

FX Illiquidity networks and vehicle currencies

Pantalfini, Matteo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015647638

Expectations, credibility, and the persistence of currency aubstitution

Alawin, Mohammad - 2026

This study examines why currency substitution proves so difficult to reverse, even after countries succeed in stabilizing inflation. Focusing on Bolivia, Brazil, Mexico, and Turkey-economies that endured severe inflationary episodes before implementing stabilization programs-the paper asks a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015652131

Contrasting ledgers : considerations for U.S. dollar interbank payment systems

Leistra, Melissa - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653042

Firm-to-firm financial linkages and dollar risk transmission

Hardy, Bryan; Saffie, Felipe; Simonovska, Ina - 2026

We study how U.S. dollar fluctuations transmit through domestic supply chains in emerging markets. Large firms borrow in foreign currency and extend trade credit to domestic partners, exposing the supply chain to exchange rate risk. We develop a model where financially constrained suppliers pass...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015632187

A note on currency hedging of dollar investments of Swiss investors 1974-2025

Kugler, Peter - 2026

Our econometric (cointegration) analysis of the Swiss franc US dollar exchange rates over the period 1974 - 2025 provides strong evidence for a negative bias of the forward rate as predictor of the spot rate for the years up to 2007, which disappears with data from 2008 onwards. This implies...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015635688

Measuring interregional fund flows in a dollarized economy : evidence from branch-level data of deposits and loans in Cambodia

Aiba, Daiju; You, Vithyea - 2026

Partial dollarization is a significant phenomenon in the banking sectors of many developing countries, yet evidence on its spread through bank branch networks remains scarce. This paper investigates interregional capital flows within Cambodia's banking system, characterized by the coexistence of...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015637212

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Measuring interregional fund flows in a dollarized economy : evidence from branch-level data of deposits and loans in Cambodia

Aiba, Daiju; You, Vithyea - 2024

Book / Working Paper

The impact of stablecoins on the international monetary and financial system

Aldasoro, Iñaki; Frost, Jon; Itō, Hiro - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015667775

The Trafalgar squeeze of global liquidity

Bignon, Vincent; Mojon, Benoît; Ortiz Serrano, Miguel - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668263

From Dollar privilege to America's capital pull : the new global imbalance

Kim, Hyo Sang - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671884

Dollar dominance: a source of dollar volatility?$Cara Bordier, Lukas Frei, Simon Stalder

Bordier, Cara; Frei, Lukas; Stalder, Simon - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672519

The performance of inflation targeting regimes in emerging and developing countries : a propensity score matching approach

Güzel, Adviye Hazal - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016059223

Twin deficits and external constraints in a dollarized economy : a stock-flow consistent exercise for smaller economies with an application to El Salvador

Alvarez, Armando; Pérez Caldentey, Esteban; Yajima, … - 2026

This paper develops a stock-flow consistent (SFC) exercise for a smaller and dollarized economy and applies it to the case of El Salvador. Against the backdrop of the 2025 IMF-supported fiscal adjustment program, we reassess the origins of rising public debt and persistent external deficits...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016060286

Financial intermediation and provincial economic activity in a dollarised economy : panel VAR evidence from Ecuador

Casares-Conforme, Félix; Maridueña-Larrea, Ángel; … - 2026

In dollarised economies, the absence of autonomous monetary policy shifts the burden of macroeconomic adjustment onto the banking system, where deposits and credit constitute the principal channel through which liquidity is conveyed to commercial activity. The literature has documented this...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016061188

De-dollarization, global economic integration, and resilience in BRICS+ economies

Kilinc, Nurcan; Ali, Imran - 2026

The increasingly rapid process of de-dollarization in the context of growing geopolitical fragmentation has significantly altered the monetary dynamics of the global economy, thereby posing important questions about economic resilience and sustainable development in the emerging world. This...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676751

Dollarisation and monetary control : what lessons for the rise of stablecoins?

Hofmann, Boris; Mehrotra, Aaron N.; Paulick, Jan - 2026 - This version: 30 June 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016083753

The under-theorisation of dollar dominance

Lysandrou, Photis - 2026 - [aktualisierte Version]

The recent period has seen an upsurge in predictions that the dollar's international dominance will at some point be challenged by a rival currency, notably the euro. This paper counters these predictions. It argues that the overestimation of the euro's ability to challenge dollar dominance is...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015596357

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The under-theorisation of dollar dominance

Lysandrou, Photis - 2025

Book / Working Paper

Hayekian currency competition prior to and after cryptocurrencies : a critical review

Napari, Ayuba - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654423

Dollar funding fragility and non-U.S. global banks

Bacchetta, Philippe; Davis, Scott; Van Wincoop, Eric - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015546278

Lebanon : from dollars to lollars

Baz, Salim; Cathcart, Lara; Michaelides, Alexander G. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015375054

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Lebanon : from Dollars to Lollars

Baz, Salim; Cathcart, Lara; Michaelides, Alexander G. - 2022

Book / Working Paper

Global money and the balance of payments : how do global banks drive cross-country US dollar credit conditions?

Weigandi, Iván - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015651326

Kenneth Rogoff's Our Dollar, Your Problem

Boskin, Michael J. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015651383

The role of reputational incentives in an international currency union : Greek monetary institutions in the classical and Hellenistic periods

Mullins, Zane Allen - 2025

In the Hellenistic era, there was widespread convergence to the Attic standard and a similar narrowing of coin types in terms of aesthetics. The competition between issuers resulted in an equilibrium in which improvements to the consistency and quality of money were sought after. This...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015376344

The great dollar shortage debate : a modern perspective

Ntellas, Charēs; Tavlas, George S. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015334637

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The great dollar shortage debate : a modern perspective

Ntellas, Charēs; Tavlas, George - 2025

Book / Working Paper

Central banks as dollar lenders of last resort : implications for regulation and reserve holdings

Das, Mitali; Gopinath, Gita; Hall, Helene; Kim, Taehoon; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676310

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Central Banks as Dollar Lenders of Last Resort : Implications for Regulation and Reserve Holdings

Das, Mitali; Gopinath, Gita; Kim, Taehoon; Stein, Jeremy C. - 2022

Book / Working Paper

Central Banks as Dollar Lenders of Last Resort : Implications for Regulation and Reserve Holdings

Das, Mitali; Gopinath, Gita; Kim, Taehoon; Stein, Jeremy C. - 2023

Book / Working Paper

Central Banks as Dollar Lenders of Last Resort: Implications for Regulation and Reserve Holdings

Das, Mitali - 2023

Book / Working Paper

A novel minimum variance portfolio approach to understanding dollarization : case of Georgia

Metreveli, Saba; Mosakhlishvili, Akaki; Mkhatrishvili, … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015189092

Firm heterogeneity and the bank lending channel in currency composition of credit

Pardo-Figueroa, Renzo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672746

Financial sanctions and currency hegemony : a search-theoretic model

Matsui, Akihiko; Murakami, Megumi - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016060038

Financial sanctions and the share of US dollar in global reserve currencies : evidence from the Least Absolute Shrinkage and Selection Operator (LASSO) model

Sanusi, Aliyu R.; Mamman, Suleiman O.; Iliyasu, Jamilu; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015195250

From dollar dominance to dollar discontent

Eichengreen, Barry - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626813

The politics of capital mobility in dollarized economies : comparing Ecuador and El Salvador

Silva, Pedro Perfeito da - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015195693

Financial Buffers in a Euroized Economy : Republic of Kosovo

Kapsoli, Javier - 2025

This paper analyzes reserve adequacy measurement in Kosovo, where euro serves as the legal tender. The study adapts the IMF's Assessing Reserve Adequacy framework to Kosovo's unique monetary context, focusing on precautionary motives for holding reserves. The analysis reveals limited readily...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015328115

Dollar dominance : fundamentals, nature and present structure

Tokunaga, Junji - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641079

What about the impact of dollarization on poverty and inequality?

Chong, Alberto; Kim, Soojin - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016083970

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What about the impact of dollarization on poverty and inequality?

Chong, Alberto; Kim, Soojin - 2025

Book / Working Paper

The effect of currency risk on crypto asset utilization in Türkiye

Oefele, Nico; Baur, Dirk; Smales, Lee A. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015329832

Dollar dominance and international spillovers of US financial shocks

Son, Minkyu - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015466066

Economic and political implications of de-dollarizing Saudi oil transactions : an analysis of a panel quantile regression focused on European Union countries

Dermechi, Feriel; Zakane, Ahmed - 2025

This article explores the economic and political implications of de-dollarization in Saudi oil transactions, by focusing on the European Union countries. It examines how an increased euro usage in these transactions influences the real exchange rate of the euro against the dollar and the volume...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015450697

De-dollarization? Diversification? : exploring central bank gold purchases and the dollar's role in international reserves

Weiss, Colin - 2025

I examine how governments have managed their holdings of gold and dollar reserves in recent decades, a period when gold's share of aggregate international reserves rose and the dollar's share fell. Using data on central banks’ reserve currency composition and official sector purchases of U.S....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015450748

Tariffs, stablecoins, and the demand for dollars

Divakaruni, Anantha; Zimmerman, Peter - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015451300