というECB論文をMostly Economicsが紹介している。原題は「How is a leading international currency replaced by another? Old versus new evidence」で、著者はArnaud Mehl(ECB)、Marko Mlikota(ペンシルベニア大)、Ine Van Robays(ECB)。 以下はその冒頭。 This special feature reviews the evidence – both old and new – on how a leading international currency is replaced by another. The conventional historical narrative is that inertia in international curr