新冠病毒之后的全球货币秩序——欧元的风险和机遇.docxVIP

CONTENTS TOC \o 1-2 \h \z \u LIST OF ABBREVIATIONS 4 LIST OF BOXES 5 LIST OF FIGURES 5 LIST OF TABLES 5 EXECUTIVE SUMMARY 6 INTRODUCTION 11 BENEFITS AND COSTS OF RESERVE AND ANCHOR CURRENCY STATUS 13 The value of ‘exorbitant privilege’ 13 Insurance from being a safe haven 15 Providing an anchor 15 POST-COVID-19 OPPORTUNITIES AND RISKS 17 Expanding the availability of EU bonds 17 Impact on relative growth rates 17 Geopolitics and international currencies 18 COVID-19 as an accelerant of digitisation 19 DOMINANT CURRENCY PARADIGM 21 MONETARY POLI