China versus the United States: IMS Meets IPS

Emmanuel Farhi and Matteo Maggiori

AEA Papers and Proceedings, 2019, vol. 109, 476-81

Abstract: Currently both the International Monetary System (IMS) and the International Price Systems (IPS) are dominated by the United States. The emergence of China, both as reserve currency and as a currency of invoicing, is likely to disrupt this status quo. We provide a framework to understand the forces that will shape this transition and identify sources of instability. We highlight the risk of an abrupt shift triggered by a run on the dollar.

JEL-codes: E42 F31 F33 O11 O19 P24 P33 (search for similar items in EconPapers)
Date: 2019
Note: DOI: 10.1257/pandp.20191057
References: Add references at CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
https://www.aeaweb.org/doi/10.1257/pandp.20191057 (application/pdf)
https://www.aeaweb.org/doi/10.1257/pandp.20191057.ds (application/zip)
Access to full text is restricted to AEA members and institutional subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aea:apandp:v:109:y:2019:p:476-81

Ordering information: This journal article can be ordered from
https://www.aeaweb.org/subscribe.html

Access Statistics for this article

AEA Papers and Proceedings is currently edited by William Johnson and Kelly Markel

More articles in AEA Papers and Proceedings from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().