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 133
... cash balances . 4.7 Equation of the demand for money The demand side of the fund of circulating capital is grounded in the requirements of ' production of one unit of commodity ( A ) ' . It refers to the services rendered by the fund ...
... cash balances . 4.7 Equation of the demand for money The demand side of the fund of circulating capital is grounded in the requirements of ' production of one unit of commodity ( A ) ' . It refers to the services rendered by the fund ...
Page 156
... money - or , choosing money for numéraire , interest - affect directly the values of capital goods and stocks ... demand for money is assumed and the price of commodity money varies directly with its utility and inversely with its ...
... money - or , choosing money for numéraire , interest - affect directly the values of capital goods and stocks ... demand for money is assumed and the price of commodity money varies directly with its utility and inversely with its ...
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 exchange ...
... 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 exchange ...
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