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 140
... savings An economic rationale for including money savings in the circulating fund exists in the Elements . It is the structure of financing new capital goods or the investment opportunities for savers that makes room for money . Walras ...
... savings An economic rationale for including money savings in the circulating fund exists in the Elements . It is the structure of financing new capital goods or the investment opportunities for savers that makes room for money . Walras ...
Page 141
... savings in the ' services market ' and thus receiving ' interest payments ' or becoming himself ( or lending to ) an entrepreneur for a rate of profit . Thus , money savings can take any form : credit , commodity ( E ) or investment ...
... savings in the ' services market ' and thus receiving ' interest payments ' or becoming himself ( or lending to ) an entrepreneur for a rate of profit . Thus , money savings can take any form : credit , commodity ( E ) or investment ...
Page 256
... savings . All suggest considerable resource savings enlarging thus the gains to be accrued from the creation of the ECB . An own monetary unit of the ECB will induce transactions costs , learning and technological externalities . They ...
... savings . All suggest considerable resource savings enlarging thus the gains to be accrued from the creation of the ECB . An own monetary unit of the ECB will induce transactions costs , learning and technological externalities . They ...
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