IMF paper on the euro's challenge to the dollar

The IMF Working Paper "The euro's challenge to the dollar: Different views from economists and evidence from COFER (Currency composition of Foreign Exchange Reserves) and other data" examines opposing views on the euro's challenge to the dollar as an international currency.

One view emphasizes Europe's large economy and diversification effects as undergirding a vigorous challenge. The other emphasizes "network externalities," particularly undergirding continued dollar dominance. The data to date

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