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 69
... deposits with banks + savings deposits + claims on monetary institutions + placements as deposits at statutory notice or with contractual maturity over one year ) . For one country only , Germany , in February 1991 , M3 was 719 839 mio ...
... deposits with banks + savings deposits + claims on monetary institutions + placements as deposits at statutory notice or with contractual maturity over one year ) . For one country only , Germany , in February 1991 , M3 was 719 839 mio ...
Page 84
... deposits with banks + savings deposits + claims on monetary institutions + placements as deposits at statutory notice or with contractual maturity of over one year ' , may not be appropriate . Financial innovations , such as interest ...
... deposits with banks + savings deposits + claims on monetary institutions + placements as deposits at statutory notice or with contractual maturity of over one year ' , may not be appropriate . Financial innovations , such as interest ...
Page 98
... deposits to replace the gold and silver of national monetary systems should be credited to private initiatives and the market mechanisms . " By 1913 , [ notes and bank deposits ] already constituted about 85 % of world money supplies ...
... deposits to replace the gold and silver of national monetary systems should be credited to private initiatives and the market mechanisms . " By 1913 , [ notes and bank deposits ] already constituted about 85 % of world money supplies ...
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