European University Institute Library

International monetary system and the theory of monetary systems, Pascal Salin

eng

Includes bibliographical references and index

illustrations

index present

non fiction

International monetary system and the theory of monetary systems

bibliography

957133970

Pascal Salin

New thinking in political economy

The international monetary system, and the disparate systems that make it up, are complex and there are many fallacies surrounding the ways in which they work. This book provides a clear and rigorous understanding of these systems and their possible consequences.--, Provided by Publisher

PART I. BASIC STATEMENTS AND ANALYSES: The concept of nation ; The theory of exchange ; Equilibrium and disequilibrium ; The demand for money ; Money creation ; The exchange rate ; An overview of monetary systems and exchange rate regimes -- PART II. THE BALANCE OF PAYMENTS: The accounting approach to the balance of payments ; The economic approach to the balance of payments ; Lessons from the analysis of the balance of payments -- PART III. INTERNATIONAL MONETARY EQUILIBRIUM IN MODERN MONETARY SYSTEMS: Money creation in hierarchical systems ; Inflation, a monetary phenomenon ; The formation of international prices ; General principles about the working of fixed exchange rate systems and flexible exchange rate systems ; The monetary approach to the balance of payments under fixed exchange rates ; The processes of transmission between monetary systems under fixed exchange rates ; International monetary equilibrium under fixed exchange rates ; The monetary approach to exchange rate variations ; The devaluation -- PART IV. MONETARY PROBLEMS: The very long-term evolution of monetary systems ; The working of fixed rate systems without an international currency ; Monetary policy and monetary crises ; Monetary integration in Europe ; Conclusion: the future of monetary systems