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 87
... store of value ' . " These first coins were rather large coins , which must have been very valuable - confirming our impression that early metallic money must have been mainly a store of value " ( Hicks , 1969 : 67 ) . The Middle stage ...
... store of value ' . " These first coins were rather large coins , which must have been very valuable - confirming our impression that early metallic money must have been mainly a store of value " ( Hicks , 1969 : 67 ) . The Middle stage ...
Page 119
... store of value , medium of exchange and unit of account . Whereas Wicksell ( Lect.II ) stresses mainly the medium of exchange function , Harris ( 1981 : 10 ) believes that " Money is a Store of Value " , which is of primary importance ...
... store of value , medium of exchange and unit of account . Whereas Wicksell ( Lect.II ) stresses mainly the medium of exchange function , Harris ( 1981 : 10 ) believes that " Money is a Store of Value " , which is of primary importance ...
Page 145
An Application of the Fundamental Principles of Monetary Theory Georges Caravelis. a store of value . On this , Rosenstein - Rodan ( 1936 : 261 ) noted : " The function of store of value and standard of deferred payments refers to the ...
An Application of the Fundamental Principles of Monetary Theory Georges Caravelis. a store of value . On this , Rosenstein - Rodan ( 1936 : 261 ) noted : " The function of store of value and standard of deferred payments refers to the ...
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