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 4
... instruments available at each stage are examined . The TEU lists all the traditional instruments . However , will this do if the traditional theories of money are shown to be inadequate to explain the origin , transformation and ...
... instruments available at each stage are examined . The TEU lists all the traditional instruments . However , will this do if the traditional theories of money are shown to be inadequate to explain the origin , transformation and ...
Page 19
... instruments a ) 583.0 1762.0 3518.0 * Over - the - counter instruments a ) 500.0 2402.0 4449.0 * Direct investment ( IC ) : Outflows ( 2 ) 49.2 89.9 205.3 149.7 Inflows ( 2 ) 41.0 62.8 159.9 89.6 Source : ( 1 ) BIS Report 1993 and Int ...
... instruments a ) 583.0 1762.0 3518.0 * Over - the - counter instruments a ) 500.0 2402.0 4449.0 * Direct investment ( IC ) : Outflows ( 2 ) 49.2 89.9 205.3 149.7 Inflows ( 2 ) 41.0 62.8 159.9 89.6 Source : ( 1 ) BIS Report 1993 and Int ...
Page 54
... instruments . The EMI shall be consulted by national central banks on monetary policy . Another task of EMI would be to prepare the third stage by designing the instruments and procedures for carrying out a single monetary policy , by ...
... instruments . The EMI shall be consulted by national central banks on monetary policy . Another task of EMI would be to prepare the third stage by designing the instruments and procedures for carrying out a single monetary policy , by ...
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