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 81
Page 9
... role assigned to his paper money and to the logic of the services rendered by the circulating capital . Walras's money originates in the concept of the service of availability and is part of the circulating capital fund whose prices are ...
... role assigned to his paper money and to the logic of the services rendered by the circulating capital . Walras's money originates in the concept of the service of availability and is part of the circulating capital fund whose prices are ...
Page 136
... role do ' money savings ' play in a static model ? c ) Do equilibrium prices established in phase ( 1 ) differ from those established when money is introduced in phase ( 2 ) ? Questions a ) to c ) refer to a single idea : What is the ...
... role do ' money savings ' play in a static model ? c ) Do equilibrium prices established in phase ( 1 ) differ from those established when money is introduced in phase ( 2 ) ? Questions a ) to c ) refer to a single idea : What is the ...
Page 140
... roles , they are ' investment instrument ' . In either of the three cases , the sequence of action and the phase of equilibrium play an important role . It should be noted that , in the theory of capitalization , Walras argues that ...
... roles , they are ' investment instrument ' . In either of the three cases , the sequence of action and the phase of equilibrium play an important role . It should be noted that , in the theory of capitalization , Walras argues that ...
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