How Global Currencies Work Past, Present, and Future

"This book will come to be known as the one that challenged the old, winner-takes-all view of international currency competition and established the new view. Barry Eichengreen and his coauthors present thorough and telling evidence that the historical reality is that multiple currencies play consequential roles in international trade and finance--and that lock-in effects and persistence are not as strong as traditionally assumed. In short, this a must-read for all economists interested in international macroeconomics and finance."--Richard Baldwin, Graduate Institute of International and Development Studies, Geneva