<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1665-952X</journal-id>
<journal-title><![CDATA[Economía UNAM]]></journal-title>
<abbrev-journal-title><![CDATA[Economía UNAM]]></abbrev-journal-title>
<issn>1665-952X</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Instituto de Investigaciones Económicas]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-952X2016000300063</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[El papel internacional del dólar versus el euro en el siglo XXI]]></article-title>
<article-title xml:lang="en"><![CDATA[The international role of the dollar versus the euro in the twenty-first century]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Cuevas Ahumada]]></surname>
<given-names><![CDATA[Víctor Manuel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="A01">
<institution><![CDATA[,Universidad Autónoma Metropolitana Departamento de Economía ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2016</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2016</year>
</pub-date>
<volume>13</volume>
<numero>39</numero>
<fpage>63</fpage>
<lpage>81</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-952X2016000300063&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-952X2016000300063&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-952X2016000300063&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: Este trabajo analiza el pasado reciente, la situación actual y las perspectivas del dólar de Estados Unidos como la principal moneda internacional. Diversos autores pronosticaron que el euro desplazaría al dólar como moneda internacional dominante y, aunque estos pronósticos no se han cumplido, el período de vida del euro es todavía corto y la transición de un patrón monetario a otro puede llegar a tomar varias décadas. En este contexto, se realiza un ejercicio comparativo entre el dólar y el euro en cuatro renglones fundamentales: 1) La estabilidad de precios, 2) El respaldo productivo y comercial, 3) El respaldo financiero, y 4) Las externalidades sistémicas. La evidencia presentada sugiere que el euro ha sido más estable que el dólar, además de contar con un gran respaldo comercial. Sin embargo, el dólar tiene la ventaja de que la economía estadounidense es más robusta que la economía de la eurozona y cuenta con mercados financieros domésticos más grandes y profundos. En el terreno de las externalidades sistémicas, se comprueba que el dólar continúa siendo la principal moneda vehículo en el mundo, la moneda de intervención por excelencia en los mercados cambiarios, y la moneda prevaleciente en la intermediación financiera global. En suma, el euro no ha logrado amenazar la supremacía del dólar y no existen indicios de que esta situación vaya cambiar en el futuro previsible.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: This paper analyzes the us dollar's recent years, current situation and perspectives as the main international currency. Many authors forecasted the euro would replace the dollar as the world's leading currency and, despite the fact that this has not happened, the euro's life is still short and the transition from one monetary regime to another could take several decades. In such a context, a comparative study between the dollar and the euro is carried out in four key areas: 1) Price stability, 2) Support in terms of output and trade, 3) Financial support, and 4) Network externalities. The evidence presented here suggests that the euro has been more stable that the dollar and is supported by the Eurozone's broad export platform. The dollar, however, has the advantage that the us economy is larger the Eurozone's economy and the us financial markets are much larger and deeper. Concerning network externalities, the body of statistical data shows that the dollar remains not only as the most important vehicle and reserve currency, but also as the prevalent currency in global financial intermediation. In sum, the euro has not been able to pose a real threat to the dollar's supremacy and is not likely to do so in the foreseeable future.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Dólar]]></kwd>
<kwd lng="es"><![CDATA[Euro]]></kwd>
<kwd lng="es"><![CDATA[Monedas internacionales]]></kwd>
<kwd lng="es"><![CDATA[Supremacía]]></kwd>
<kwd lng="en"><![CDATA[Dollar]]></kwd>
<kwd lng="en"><![CDATA[Euro]]></kwd>
<kwd lng="en"><![CDATA[International Currencies]]></kwd>
<kwd lng="en"><![CDATA[Supremacy]]></kwd>
</kwd-group>
</article-meta>
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<surname><![CDATA[Kutan]]></surname>
<given-names><![CDATA[A. M.]]></given-names>
</name>
</person-group>
<source><![CDATA[Review of World Economics]]></source>
<year>2008</year>
<volume>144</volume>
<numero>1</numero>
<issue>1</issue>
<page-range>134-50</page-range></nlm-citation>
</ref>
</ref-list>
</back>
</article>
