From Gold to Euro
From Gold to Euro This book shows that the use of money transforms a market economy into a payment society where production and employment are subordinated to the logic of asset markets. The…
Specifikacia From Gold to Euro
From Gold to Euro
This book shows that the use of money transforms a market economy into a payment society where production and employment are subordinated to the logic of asset markets. The stability of key currency systems was based on different policy preferences. Monetary policy emerged out of private banking business and was always exposed to the risk of losing credibility and reputation.
It is shown that waning willingness to accept foreign leadership in monetary policy affairs propelled the creation of the euro. A simple game-theoretic macro model explains the working and the downfall of the gold standard, Bretton Woods and the European Monetary System.
From Gold to Euro