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Monnaies de réserve et stabilité financière internationale

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  • Édouard Vidon

Abstract

[fre] L'émergence, la prépondérance ou le déclin des monnaies de réserve ne sont pas sans conséquence pour la stabilité financière internationale. La compréhension des enchaînements macrofinanciers qui ont amené à la crise actuelle nécessite de mettre en lumière la place unique des actifs financiers libellés en dollars dans le système monétaire international. Les répercussions mondiale d'une crise financière initialement américaine amènent à s'interroger sur les avantages que pourrait présenter la perspective d'un monde . à plusieurs grandes monnaies de réserve internationales. . Classification JEL : F31, F32, F33, F34 [eng] Reserve Currencies and International Financial Stability . T he emergence, the predominance and the decline of reserve currencies can have profound consequences on international financial stability. A full understanding of the macrofinancial mechanisms that led to the current crisis requires to highlight the unique role of dollar-denominated assets in the international monetary system. The global impact of what was initially a US crisis leads to a reflection on the possible benefits of a system that would feature several major reserve currencies. . Classification JEL : F31, F32, F33, F34

Suggested Citation

  • Édouard Vidon, 2009. "Monnaies de réserve et stabilité financière internationale," Revue d'Économie Financière, Programme National Persée, vol. 94(1), pages 219-232.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2009_num_94_1_5302
    DOI: 10.3406/ecofi.2009.5302
    Note: DOI:10.3406/ecofi.2009.5302
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    1. Laure Frey & Benoît Mojon, 2009. "Le dollar et l’inflation mondiale," Revue d'Économie Financière, Programme National Persée, vol. 94(1), pages 81-106.

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    More about this item

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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