In recent work (Gopinath and Stein 2017), we explore how a currency like the dollar can become entrenched as a dominant global currency, focusing on the two-way feedback between trade invoicing and banking structure. The basic idea is that when a larger share of a country’s imports are invoiced in dollars, its citizens have a greater demand for dollar-denominated safe claims. This in turn leads...

We dissect the impact of a large and sudden exchange rate appreciation on Swiss border import prices, retail consumer expenditures domestic imported nondurable goods, following removal EUR/CHF floor in January 2015. Cross-sectional variation price changes by currency invoicing carries over to prices allocations, impacting imports competing as well expenditures. provide measures sensitivity shar...

For years the cost of healthcare has increased at a rate that outpaced general inflation.1 It’s nothing short miracle that, despite this, UK managed to keep free point access. With staff costs accounting for around half all NHS spending,2 this been possible only because true heavily subsidised by people working in health service—people who aren’t watching clock or invoicing their hours but are ...

Abstract We present novel insights on the role of international trade following unanticipated fiscal changes in a flexible exchange rate environment. show analytically that multipliers can be larger economies more open to trade, even when expansions imply deficits. Three factors determine how linkages matter: relative import share public and private goods, financing government debt, currency in...

We analyze the spatial evolutionary path and features of Renminbi (RMB) internationalization from three aspects: transaction intermediary, invoicing unit, value storage. The main results show that: Firstly, RMB exhibits a certain expansion pattern, such as initially expands to East Asian countries regions, then gradually moves Southeast Asia, Europe, South America, Australia, participating in B...

This paper presents results from the IST KAII Trial project ReLAX – Remote LAboratory eXperimentation trial (IST 1999-20827), and contributes with a framework for a global remote laboratory experimentation network supported by a new business model. The paper presents this new Experiment Service Provider business model that aims at bringing physical experimentation back into the learning arena, ...

In the last decade, supply chain management has changed its focus, centring now on value creation, by taking into consideration the recent trends of partners integration and implementation of internet technologies. Within this context, this paper presents measurable results regarding the business value of supply chain collaboration practices enabled by e-commerce technologies. The presented res...

Increasingly, companies use interorganizational information systems to conduct joint business processes, such as automatic replenishment systems and other supply chain initiatives, invoicing and payments, insurance claims processing and numerous other interorganizational processes. Inter-firm networking in turn increases the visibility of information generated and used by business partners. The...