European Monetary Union: An Application of the Fundamental Principles of Monetary TheoryThis study applies five basic economic principles to the reasons underlying European economic and monetary union. It aims to explain why EMU was agreed to; when it would be realized; how the monetary unit would be established; which means should implement it; and what purpose it should serve. |
From inside the book
Results 1-3 of 26
Page 56
... Bundesbank " ( p . 31 ) . Economic independence is defined by Alesina and Grilli ( 1991 : 14 ) as " ... the ability ... Bundesbank's . Why such an interest in the independence of ECB ? The literature is rich . Three themes have been ...
... Bundesbank " ( p . 31 ) . Economic independence is defined by Alesina and Grilli ( 1991 : 14 ) as " ... the ability ... Bundesbank's . Why such an interest in the independence of ECB ? The literature is rich . Three themes have been ...
Page 115
... Bundesbank with respect to the statute of the ECB and draws attention to the constitutional rules and objectives that give rise to confidence externalities . Marsh ( 1993 ) gives an account of Bundesbank's struggle to gain independence ...
... Bundesbank with respect to the statute of the ECB and draws attention to the constitutional rules and objectives that give rise to confidence externalities . Marsh ( 1993 ) gives an account of Bundesbank's struggle to gain independence ...
Page 276
... Bundesbank , ( 1979 ) , ' The European Monetary System . Structure and Operation ' , Monthly Bulletin , March . Deutsche Bundesbank , ( 1992a ) , ' The Maastricht Decisions on the European Economic and Monetary Union ' , Monthly Report ...
... Bundesbank , ( 1979 ) , ' The European Monetary System . Structure and Operation ' , Monthly Bulletin , March . Deutsche Bundesbank , ( 1992a ) , ' The Maastricht Decisions on the European Economic and Monetary Union ' , Monthly Report ...
Contents
Treaty on economic and monetary union | 15 |
A monetarytheoretic approach to | 76 |
7 | 111 |
Copyright | |
9 other sections not shown
Common terms and phrases
anchor argued assets assumed assumption Bundesbank chapter Cipolla commodity money Community competitive confidence externalities convergence countries debt deficits demand determined economic effects efficiency equation equilibrium ESCB established European Monetary European Monetary System exchange rate expectations external economy fixed exchange rates function fund global growth H1 to H5 Hence Hicks income increase induced inflation instability instruments integration interdependence interest rate internalised investment Keynes Keynes's liquidity preference London marginal Member monetary institutions monetary policy monetary system monetary theory Monetary Union money externalities money process money supply national central banks Optimum Currency Areas parallel currency payments political price level externalities price stability private ECU production rate of interest reserves savings sector seigniorage seigniorage externalities service of availability single currency stage of EMU store of value systemic risk technological externalities theoretical theory of money Thygesen trade transaction costs Triffin Walras Walras's paper money