科研之友
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摘要
The international monetary system suffers from many imbalances that undermine the stability of the world financial system. The dollar is at the heart of this system. As a global currency, the dollar forms the bulk of international reserves held by central banks and is the most used currency in international commercial transactions. This demand creates a countervailing force that causes dollars to exit from US, thus producing a trade balance deficit. In this paper, we will support the widening of the SDR currency basket, demonstrating with the ARCH family models that the EUR / SDR exchange rate is less volatile than the EUR/USD exchange rate.
- 出版日期2018
