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. |
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Page 8
... context of three states of nature : uncertainty , maximisation principle and free entry . These three states constitute the underlying logic of all five hypotheses . H1 to H5 serve as tools for a re - examination of received monetary ...
... context of three states of nature : uncertainty , maximisation principle and free entry . These three states constitute the underlying logic of all five hypotheses . H1 to H5 serve as tools for a re - examination of received monetary ...
Page 26
... context which is a derivative of the monetary vision of the utility or commodity theory of money ( we return to it in chapter 4 ) . The Neo - Walrasian logic presupposes two conditions : a ) the ECB will be able to control the supply of ...
... context which is a derivative of the monetary vision of the utility or commodity theory of money ( we return to it in chapter 4 ) . The Neo - Walrasian logic presupposes two conditions : a ) the ECB will be able to control the supply of ...
Page 159
... context of the EU , motives take two forms : a ) they are derivatives of the role assigned by the Treaty of Rome , as amended by the Maastricht Treaty , to the EU institutions : Commission , Parliament and Council , and b ) they mainly ...
... context of the EU , motives take two forms : a ) they are derivatives of the role assigned by the Treaty of Rome , as amended by the Maastricht Treaty , to the EU institutions : Commission , Parliament and Council , and b ) they mainly ...
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