Currency Competition and Foreign Exchange Markets

• List of figures; List of tables; Preface and acknowledgements; 1. Introduction; 2. National and international money: a survey; 3. A theory of vehicle currencies; 4. Currency competition between the euro, the dollar and the yen; 5. Trading volumes and transaction costs: from the short run to the long run; 6. General conclusions; Bibliography; Index.

'The emergence of the Euro is the most significant monetary event of the current era. Its international role will be of key importance. In this topical and valuable book, Philipp Hartmann provides an analysis of the role and evolution of the international use of money, for example as a vehicle currency, and then applies such analysis to examine the future role of the euro, notably in relation to the US dollar. This book is both of high academic quality and of practical relevance for the light that it throws on future international monetary issues in general, and on the euro in particular.' Charles Goodhart, London School of Economics and Political Science, and member of the Bank of England Monetary Policy Committee