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 156
... demand for money in the is not autonomous but derived ( a reflection of the demand for commodities , and not the source of that demand ) . As we argued in section 4.10 , given assumptions : A1 , A2 , A3 , and A4 , the demand for money ...
... demand for money in the is not autonomous but derived ( a reflection of the demand for commodities , and not the source of that demand ) . As we argued in section 4.10 , given assumptions : A1 , A2 , A3 , and A4 , the demand for money ...
Page 243
... demand for money . This would occur because any revision of current expectations due to E or E , would have repercussions on the liquidity preference . They would help determine the position of the LM curve . If the link between the ...
... demand for money . This would occur because any revision of current expectations due to E or E , would have repercussions on the liquidity preference . They would help determine the position of the LM curve . If the link between the ...
Page 259
... demand for money ; the first is a direct demand for currency , the second is an indirect demand for bank reserves related to the demand for deposits and reserve requirements . In our scheme of a money process ( M - C - M * ) , the ...
... demand for money ; the first is a direct demand for currency , the second is an indirect demand for bank reserves related to the demand for deposits and reserve requirements . In our scheme of a money process ( M - C - M * ) , the ...
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