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 94
... importance attached to them have varied as the stages of economic development have evolved . For example , in the Primitive ... important not only for the prestige it gave , but also for the social implications it brought into play . The ...
... importance attached to them have varied as the stages of economic development have evolved . For example , in the Primitive ... important not only for the prestige it gave , but also for the social implications it brought into play . The ...
Page 147
... importance : " Indeed , the expedients for performing exchange operations without the intervention of metallic money ... important consequences . First , he accommodates paper money in his commodity money model by stripping the former of ...
... importance : " Indeed , the expedients for performing exchange operations without the intervention of metallic money ... important consequences . First , he accommodates paper money in his commodity money model by stripping the former of ...
Page 175
... importance to it for he believed that " finance ' is wholly supplied during the interregnum by the banks ; and this is the explanation of why their policy is so important in determining the pace at which new investment can proceed ...
... importance to it for he believed that " finance ' is wholly supplied during the interregnum by the banks ; and this is the explanation of why their policy is so important in determining the pace at which new investment can proceed ...
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