Bonpasse, Morrison (2008): The Single Global Currency - Common Cents for Commerce.
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As globalization continues, businesses are increasingly importing and exporting from countries with different currencies. To conduct that business, they must pay fees for exchanging one currency for another and they must determine the exchange rate for a particular time. If the transaction is to be conducted over time, they may purchase currency instruments to hedge against currency fluctuation. The costs of these tasks to such firms are significant. As an increasing number of international businesses understand that these expensive tasks are unnecessary for trade conducted within a monetary union, these businesses are likely to lead the effort to implement a Single Global Currency, to be managed by a Global Central Bank within a Global Monetary Union. In short, a "3-G" world. It's common cents. Much further research is needed to identify the benefits of a Single Global Currency and the steps and schedule necessary for implementation.
|Item Type:||MPRA Paper|
|Original Title:||The Single Global Currency - Common Cents for Commerce|
|Keywords:||Single Global Currency, monetary union, dollar, euro, European Monetary Union, Global Central Bank, Global Monetary Union, international monetary system, Bretton Woods, foreign exchange, currency, currency crisis, transaction costs, trade, commerce|
|Subjects:||F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance
F - International Economics > F5 - International Relations and International Political Economy
E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit
E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook
|Depositing User:||Morrison Bonpasse|
|Date Deposited:||04. Feb 2008 16:24|
|Last Modified:||10. Jan 2014 06:52|
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