The euro, the dollar and the international monetary system: Editor's introduction

摘要

This Special Issue of the Journal of Policy Modeling on "The Euro, the Dollar and the International Monetary System" arose out of the Session that I organized and chaired at the Annual Meeting of the American Economic Association held in Philadelphia on January 8, 2005. It is now 6 years since the euro was created and 3 years since it has been in circulation, so it is time to take stock of its performance, its relationship to the US dollar, and its effect on the operation of the international monetary system. The exchange rate between the euro, the US dollar, the Japanese yen, and the other important currencies has become one of the most crucial and watched financial relationship in the world today, and the creation of the euro has affected the operation of the entire international monetary system in a fundamental way.