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 17
... payments : globalisation If the principles of an open market economy with free competition coupled with the free movement of goods , persons , services and capital , were applied to capital and payments , it would mean that all ...
... payments : globalisation If the principles of an open market economy with free competition coupled with the free movement of goods , persons , services and capital , were applied to capital and payments , it would mean that all ...
Page 137
... payments of services and delivery and payments of products as well as unforeseen accidents , as the above quotation states . Coming to pure money of the circulating fund , our starting point is Schumpeter ( 1954 : 1022 ) : " With the ...
... payments of services and delivery and payments of products as well as unforeseen accidents , as the above quotation states . Coming to pure money of the circulating fund , our starting point is Schumpeter ( 1954 : 1022 ) : " With the ...
Page 225
... payment to a regular counterpart is made , the credit flow through payments and settlements systems will be reduced substantially . If a series of gross payments are made which only partly offset the overall debt , systemic risk will ...
... payment to a regular counterpart is made , the credit flow through payments and settlements systems will be reduced substantially . If a series of gross payments are made which only partly offset the overall debt , systemic risk will ...
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