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accept analysis approach argued barter borrowing budget capital Charles Goodhart Chartalism Chartalist circulation coinage coins commodity commodity money constraints countries created debt deficit demand deposits economic economists employment ESCB euro European Central Bank eurozone example exchange rates federal fiat currency fiat money fiscal policy forms of money gold standard Goodhart important industrial inflation institutions interest rates investment issue Keynes labor liabilities loans M-form theory Maastricht Treaty means of payment medium of exchange metal money Metallist minting modern monetarist monetary policy monetary system monetary union money creation money forms money supply national currencies notes Optimal Currency Area origins of money political precious metal price stability private sector production regulation reserves role Schumpeter single currency social sovereignty spending taxes territorial currencies theorists trade transaction costs unit of account wage
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