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Monetary Systems for the Common Market
The Journal of Finance, 1959THE COMMON-MARKET countries will carry out their first round of tariff reductions on January 1, 1959, and will, according to the treaty, complete tariff removals within fourteen years. The economic interdependence of the member countries will in time be much like that of regions in the United States.
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2016
This chapter presents the evolution of Western monetary systems from the bimetallic standards of medieval Europe through the gold standard and Bretton Woods eras to today’s fiat money regimes. The chapter notes that issues of revenue creation enabled by the monopoly over money issue—through debasement and/or inflation—runs through this history, as does
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This chapter presents the evolution of Western monetary systems from the bimetallic standards of medieval Europe through the gold standard and Bretton Woods eras to today’s fiat money regimes. The chapter notes that issues of revenue creation enabled by the monopoly over money issue—through debasement and/or inflation—runs through this history, as does
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The International Monetary System [PDF]
, 2013 This paper analyzes current stresses in the two key areas that concerned the architects of the original Bretton Woods system: international liquidity and exchange rate management. Despite radical changes since World War II in the market context for liquidity and exchange rate concerns, they remain central to discussions of international macroeconomic ...
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Monetary System for a Digital Society
SSRN Electronic Journal, 2019In this paper, we examine various models of monetary systems. By using the ideal currency concept, we show that the two-tiered model of monetary system currently used in almost all countries has serious flaws, the root cause of which is the use of private currencies issued by banks. It is shown that from the perspective of the economy of the digital
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The future of the international monetary system [PDF]
DIW Economic Bulletin, 2011 The financial crisis of 2007/2008 and the current Euro crisis challenge the current global monetary system. They drastically reveal the actual system's weaknesses und show the eminent importance of the international monetary system for the stability of markets and national economies.
Belke, Ansgar +2 more
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Polanyi’s Minskyian Monetary System
SSRN Electronic Journal, 2018Karl Polanyi sees the collapse of the gold standard as a sign of the end of the 19th-century liberal order. Understanding the gold standard as primarily a payment system shows continuity rather than disjuncture with the financial crisis of the 20th century studied by Hyman Minsky.
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The European Monetary System and European Monetary Union
1998In this chapter we examine one of the most important economic issues ever tackled by the European Union (EU), namely, European Monetary Union (EMU). In January 1994 the European Union was expanded from 12 to 15 members following the accession of Austria, Finland and Sweden.
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European Monetary Problems and the International Monetary System
1996Until September 1992, the European Monetary System (EMS) was regarded as a big success story by most economists on both sides of the Atlantic (see, for example, Frankel and Phillips [9], Giavazzi and Giovannini [12] and MacDonald and Taylor [16]). It was pointed out that the economies of the large European Union (EU) countries had converged toward ...
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