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Auteur Benjamin J. COHEN |
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Titre : The Future of Money Type de document : e-book Auteurs : Benjamin J. COHEN Editeur : Princeton University Press Année de publication : 2018 ISBN/ISSN/EAN : 9780691116655 Note générale : copyrighted Langues : Anglais (eng) Résumé : Is globalization leading us toward a world of fewer and fewer currencies and, consequently, simplified monetary management? Many specialists believe this is the case, as the territorial monopolies national governments have long claimed over money appears to be eroding. In The Future of Money, Benjamin Cohen argues that this view--which he calls the "Contraction Contention"--is wrong. Rigorously argued, written with extraordinary clarity, and thoroughly up-to-date, this book demonstrates that the global population of currencies is set to expand greatly, not contract, making monetary governance more difficult, not less. At the book's core is an innovative theoretical model for understanding the strategic preferences of states in monetary management. Should governments defend their traditional monetary sovereignty, or should they seek some kind of regional consolidation of currencies? The model offers two broad advances. First, whereas most scholarly work evaluates strategic options individually or in comparison to just one other alternative, this model emphasizes the three-dimensional nature of the decisions involved. Second, the model emphasizes degrees of currency regionalization as a central determinant of state preferences. Cohen also systematically explores the role of the private sector as an alternative source of money. The book concludes with two key policy proposals. First, fiscal policy should be resurrected as a tool of macroeconomic management, to offset the present-day erosion in the effectiveness of monetary policy. Second, the International Monetary Fund should more actively help coordinate the decentralized strategic decision-making of governments. The future of money will be perilous. But, by mapping out the alternative policies countries can follow, The Future of Money shows it need not be chaotic. Nombre d'accès : Illimité En ligne : http://library.ez.neoma-bs.fr/login?url=https://www.scholarvox.com/book/88935129 Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=556827 Currency Power : Understanding Monetary Rivalry / Benjamin J. COHEN / Princeton University Press (2015)
Titre : Currency Power : Understanding Monetary Rivalry Type de document : e-book Auteurs : Benjamin J. COHEN Editeur : Princeton University Press Année de publication : 2015 ISBN/ISSN/EAN : 9780691167855 Note générale : copyrighted Langues : Anglais (eng) Résumé : Why the dollar will remain the world's most powerful currencyMonetary rivalry is a fact of life in the world economy. Intense competition between international currencies like the US dollar, Europe's euro, and the Chinese yuan is profoundly political, going to the heart of the global balance of power. But what exactly is the relationship between currency and power, and what does it portend for the geopolitical standing of the United States, Europe, and China? Popular opinion holds that the days of the dollar, long the world’s dominant currency, are numbered. By contrast, Currency Power argues that the current monetary rivalry still greatly favors America’s greenback. Benjamin Cohen shows why neither the euro nor the yuan will supplant the dollar at the top of the global currency hierarchy.Cohen presents an innovative analysis of currency power and emphasizes the importance of separating out the various roles that international money might have. After systematically exploring the links between currency internationalization and state power, Cohen turns to the state of play among today’s top currencies. The greenback, he contends, is the "indispensable currency"—the one that the world can’t do without. Only the dollar is backed by all the economic and political resources that make a currency powerful. Meanwhile, the euro is severely handicapped by structural defects in the design of its governance mechanisms, and the yuan suffers from various practical limitations in both finance and politics.Contrary to today’s growing opinion, Currency Power demonstrates that the dollar will continue to be the leading global currency for some time to come. Nombre d'accès : Illimité En ligne : http://library.ez.neoma-bs.fr/login?url=https://www.scholarvox.com/book/88935557 Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=557077
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