Held by: Barry Eichengreen
, Distinguished Professor of Economics and Professor of Political Science at the University of California, Berkeley
Abstract: New technologies -- automated market making, automated liquidity provision, and central bank digital currencies, among others -- are widely seen as auguring changes in the structure of the international monetary system. Now in addition there are sanctions imposed on the Bank of Russia and other Russian financial institutions, which may occasion changes in the composition of foreign exchange reserves and the denomination of cross-border payments. This seminar will ponder and provide some evidence on which units are likely to gain and lose market share, among them the dollar, the euro, the Chinese renminbi, nontraditional reserve currencies, and gold.