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Competitive money supply: the international monetary system in perspective

Article Abstract:

A study of monetary standards that highlights the attributes of money instead of the exchange rate mechanism is presented. The results indicate that the transition from commodity to fiat money resulted in international agreements that represent an implementation of the competitive money supply model. The transition, a significant development in monetary evolution, and the subsequent application of the supply model are believed to have long-term implications in monetary system development.

Monetary policy

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Providing for the optimum quantity of money

Article Abstract:

The optimum quantity of money proposition can still be implemented despite its weaknesses that stem from the application of the welfare theorems of general equilibrium theory to a monetary economy. The Friedman Rule, otherwise known as the Chicago Rule, is based on the externality that affects the level of real cash balances. However, it fails to correct the externality in cash balances behavior since it does not consider the liquidity premium that money has over other assets.

Economics, Research and Development in the Social Sciences and Humanities, Beliefs, opinions and attitudes, Money, Chicago school of economics, Monetarism, Friedman, Milton

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Defining fundamental disequilibrium: Keynes's unheeded contribution

Article Abstract:

A study is conducted to illustrate the debate on the definition of fundamental disequilibrium and analyses Keynes unheeded contribution. The Bretton Woods agreements set up the post-war monetary order on the basis of fixed exchange rates and autonomous national economic policy.

Economic Programs, Administration of Economic Programs, Economic policy, Equilibrium (Economics), Keynesian economics

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