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. |
From inside the book
Results 1-3 of 39
Page 43
... reduced by about 1-1.5 per cent of GDP in Italy and about 0.5 per cent in Spain . No reduction is apparent in Greece . ... Portugal experienced a reduction of about 1.5 % per cent of GDP " . Where does this debate leave us ? Cobham ...
... reduced by about 1-1.5 per cent of GDP in Italy and about 0.5 per cent in Spain . No reduction is apparent in Greece . ... Portugal experienced a reduction of about 1.5 % per cent of GDP " . Where does this debate leave us ? Cobham ...
Page 225
... reduced substantially . If a series of gross payments are made which only partly offset the overall debt , systemic risk will increase . Hence netting schemes are necessary to reduce systemic risk . The question addressed calls for a ...
... reduced substantially . If a series of gross payments are made which only partly offset the overall debt , systemic risk will increase . Hence netting schemes are necessary to reduce systemic risk . The question addressed calls for a ...
Page 266
... reduced Meade's market - organisation - cost substantially . 23. See Fama ( 1980 ) who has generalised the functions ... reducing unemployment . See GT : 263-268 where Keynes discusses the similarities between the inflexible labour ...
... reduced Meade's market - organisation - cost substantially . 23. See Fama ( 1980 ) who has generalised the functions ... reducing unemployment . See GT : 263-268 where Keynes discusses the similarities between the inflexible labour ...
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