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Topic: Monetary


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In the News (Tue 25 Jun 19)

  
  EH.Net Encyclopedia: Monetary Unions
Although some sources extend the definition to include the monetary regimes of national federations such as the United States or of imperial agglomerations such as the old Austro-Hungarian Empire, the conventional practice is to limit the term to agreements among units that are recognized as fully sovereign states under international law.
Similarly, monetary authority may continue to be exercised in some degree by individual governments or, alternatively, may be delegated not to a joint institution but rather to a single partner such as the United States.
The idea of monetary union among sovereign states was widely promoted in the nineteenth century, mainly in Europe, despite the fact that most national currencies were already tied together closely by the fixed exchange rates of the classical gold standard.
www.eh.net /encyclopedia/?article=cohen.monetary.unions   (3062 words)

  
 MONETARY STATUS   (Site not responding. Last check: 2007-11-06)
The history of the monetary system in Luxembourg is very complex, accurately reflecting both the importance of international events on the life of a small nation and the battles it had to fight to consolidate its identity.
Consequently, the development of the Luxembourg monetary system over one and a half centuries is characterised not only by the efforts to define a national currency and to ensure its stability, but also by policies of association with other monetary systems to take account of the country's integration in transactions with the outside world.
The promotion of the stability of the currency may require recourse to a broad array of instruments and measures and it is self-evident that both the internal and external stability of the currency depend very generally on the policy as a whole conducted by the Government and rely heavily on external influences.
statec.gouvernement.lu /html_en/portrait_economique_du_luxembourg/english/chap7/pgb7.htm   (1188 words)

  
 FRB: Speech, Gramlich -- Monetary Rules -- February 27, 1998
Monetary policy was not set consciously in terms of the economic needs of the country, but by the world gold market.
Rather than have some monetary quantity under the control of the authorities advance x percent per year, the idea of inflation targeting is to move right to the ultimate goal of monetary policy, stable prices - overall price levels should grow no more than y percent per year.
Moreover, the Taylor rule presumes that monetary policy is independent in the sense that the Fed is free to vary the funds rate.
www.federalreserve.gov /boarddocs/speeches/1998/199802272.htm   (4137 words)

  
 The Constitutional Imperative in Reform of the Monetary and Banking Systems of the United States   (Site not responding. Last check: 2007-11-06)
Monetary and banking reform in the United States must be appreciated and approached a matter of law, as well as a matter of economics.
If disinterest in "monetary constitutionalism" can be explained in the case of the general public by ignorance and in the case of pundits by tunnel vision, in the case of high level public officials a more sinister reason is not without evidentiary support.
What we have now is a monetary authority that essentially has a monopoly on the issue of fiat money, with no guidelines to amount to anything; an authority that never would have been legislatively approved, that never would have been constitutionally approved, on any kind of rational calculus, no matter what the political system.
www.fame.org /HTM/Vieira_Edwin_The_Constituion_Imperative_in_the_Reform_of_the_Monetary_EV-003.HTM   (9875 words)

  
 Fiscal and Monetary Policy: Conference Summary (2005-12, 6/10/2005)
Part and parcel of joining a monetary union is the loss of independent monetary policies in each of the member countries, which limits the ability to use monetary policy to stabilize economic disturbances that affect only a subset of the countries in the union.
Monetary policy rules are often expressed such that the choice variable for the central bank, usually a short-term nominal interest rate, is determined by a number of economic variables according to a mathematical equation.
Monetary policymakers recognize that they face a great deal of uncertainty about the outlook for the economy and the effects of policy on that outlook.
www.frbsf.org /publications/economics/letter/2005/el2005-12.html   (1655 words)

  
 AEI - Short Publications   (Site not responding. Last check: 2007-11-06)
In a monetary union including all fifteen countries in the European Union, the share of exports to member countries would be 50-75 percent in all member countries.
The prospect that the quest for monetary union might produce greater conflict, rather than greater harmony, is ironic in light of the political goals that animate many advocates of union.
Very small countries should eliminate the monetary operations of their central banks by establishing a currency board or a permanently fixed exchange rate, and to enforce their commitment those countries should permit their citizens to use a noninflating foreign currency as a medium of exchange or parallel currency.
www.aei.org /publications/pubID.6514/pub_detail.asp   (2136 words)

  
 Monetary Economics Homepage   (Site not responding. Last check: 2007-11-06)
Monetary economics, as defined in McCallum’s (1989) textbook, "is concerned with the effects of monetary institutions and policy actions on economic variables [such as] commodity prices, wages, interest rates, and quantities of employment, consumption, and production".
As an area of research and teaching monetary economics is frequently merged with the related field of finance and is then referred to as financial economics.
Monetary economics exists as a group of related courses taught by the academic staff of the monetary economics section.
www.few.eur.nl /few/people/smant/m-economics   (619 words)

  
 Monetary Policy, by James Tobin: The Concise Encyclopedia of Economics: Library of Economics and Liberty
Monetary policy is the subject of a lively controversy between two schools of economics, monetarist and Keynesian.
They regarded active monetary stimulus as dangerously inflationary, even when their economies were barely emerging from recession.
Monetary and fiscal policies are distinct only in financially developed countries, where the government does not have to cover budget deficits by printing money but can sell obligations to pay money in the future, like U.S. Treasury bills, notes, and bonds.
www.econlib.org /library/Enc/MonetaryPolicy.html   (3330 words)

  
 MACROECONOMIC POLICY WITHIN A MONETARY UNION
In considering issues of policy coordination towards monetary union, the literature has attempted to address issues on the arrangement for the detarmination of monetary policy that gives the best possible performance for Europe as a whole and if the coordination of fiscal policies within the monetary union is more than a necessity (Currie, 1989).
By contrast, in a monetary union model monetary policy - implemented by the European Central Bank - are expected to affect all countries participating in the union.
Within the monetary union framework linkages are generated between the two countries each time through fiscal or monetary policies pursued by the domestic or the foreign country and affect both aggregate supply and aggregate demand in the two countries.
www.ecsanet.org /conferences/ecsaworld3/apergis_demopoulos.htm   (4050 words)

  
 US Monetary Policy: An Introduction to Structure, Policy, Goals, Tools, Affects, and Strategies, including a Glossary ...
Furthermore, because the U.S. is the largest economy in the world, its monetary policy also has significant economic and financial effects on other countries.
The object of monetary policy is to influence the performance of the economy as reflected in such factors as inflation, economic output, and employment.
Monetary policy is conducted by the Federal Reserve System, the nation's central bank, and it influences demand mainly by raising and lowering short-term interest rates.
www.frbsf.org /publications/federalreserve/monetary   (197 words)

  
 A Monetary History of the United States, 1867-1960
A Monetary History of the United States, 1867-1960 by Milton Friedman and Anna J. Schwartz is surely one of the most important books in economic history, and indeed, in all of economics, written in the twentieth century.
The basic methodology of A Monetary History is to highlight "natural experiments," occasions when the stock of money changed for reasons unrelated to the current state of the economy, so that we can then attribute the corresponding changes in the economy to changes in money.
In each case there is a rough correlation between monetary changes and changes in the economy, yet the factors determining the supply of money are very different.
www.eh.net /bookreviews/library/rockoff.shtml   (3147 words)

  
 Federal Reserve Bank of Minneapolis - About the Fed - United States Monetary Policy   (Site not responding. Last check: 2007-11-06)
Monetary policy is a central bank's actions to influence the availability and cost of money and credit, as a means of helping to promote national economic goals.
Monetary policy is made by the Federal Open Market Committee, which consists of the Board of Governors of the Federal Reserve System and the Reserve Bank presidents.
Although the window was long ago superseded by open market operations as the most important tool of monetary policy, it still has a complementary role in the day-to-day implementation of policy.
woodrow.mpls.frb.fed.us /info/policy   (495 words)

  
 Monetary Reform ON-Line - FAQ   (Site not responding. Last check: 2007-11-06)
M/R is a worldwide movement to change the monetary system from a private mint system which benefits a privileged few to a public mint system which benefits all the citizens of a nation.
Instead of a) Raising taxes or, b)Cutting spending (the usual solutions), Monetary Reform notes that the supreme right of a country to print it's own money in correct ratios to prevent hyperinflation can be used to get the country out of debt.
Monetary Reform Magazine, and many other sources of information available through the InterNet and your local library, can empower anyone who wants to make changes to the system.
www.monetary-reform.on.ca /faq.shtml   (1008 words)

  
 Economic and monetary union - Encyclopedia.WorldSearch   (Site not responding. Last check: 2007-11-06)
An economic and monetary union is a single market with a common currency.
the Latin Monetary Union in the 1800s), which does not involve a single market.
The only economic and monetary union at present is the Eurozone.
encyclopedia.worldsearch.com /economic_and_monetary_union.htm   (133 words)

  
 Monetary Policy - - Introduction - Bank of Canada
Monetary policy is concerned with how much money circulates in the economy and what that money is worth.
Canada's monetary policy is built on a framework consisting of two key components:
Low and stable inflation is the best contribution that monetary policy can make to a productive, well-functioning economy.
www.bankofcanada.ca /en/monetary/monetary_main.html   (189 words)

  
 Amazon.com: Books: Monetary Theory and Policy : Second Edition   (Site not responding. Last check: 2007-11-06)
Monetary Theory and Policy presents an advanced treatment of critical topics in monetary economics and the models economists use to investigate the interactions between real and monetary factors.
It extensively examines modern approaches to monetary policy that stress the incentives facing central banks and the strategic interactions between central banks and the private sector.
The book is designed for advanced graduate students in monetary economics, economic researchers, and economists working in policy institutions and central banks.
www.amazon.com /exec/obidos/tg/detail/-/0262232316?v=glance   (1169 words)

  
 Monetary union - Wikipedia, the free encyclopedia   (Site not responding. Last check: 2007-11-06)
In economics, a monetary union is a situation where several countries have agreed to share a single currency among them, for example, the East Caribbean Dollar.
A monetary union differs from an Economic and Monetary Union, where it is not just currency but also economic policy that is pooled or co-ordinated (as in the European Union Eurozone, for instance).
between the European Economic and Monetary Union and the Vatican, Andorra, San Marino, Monaco and the Serbian-Montenegrin republics of and Kosovo using the euro
www.bexley.us /project/wikipedia/index.php/Monetary_union   (473 words)

  
 AllRefer.com - International Monetary Fund, UN (United Nations) - Encyclopedia   (Site not responding. Last check: 2007-11-06)
International Monetary Fund (IMF), specialized agency of the United Nations, established in 1945.
It was planned at the Bretton Woods Conference (1944), and its headquarters are in Washington, D.C. There is close collaboration between it and the International Bank for Reconstruction and Development.
In 1995 the fund moved to increase disclosure requirements of countries borrowing money and at the same time created an emergency bailout fund for countries in financial crisis.
reference.allrefer.com /encyclopedia/I/IntlMone-1.html   (385 words)

  
 Money and Morality: The Christian Moral Tradition and the Best Monetary Regime   (Site not responding. Last check: 2007-11-06)
At a time when monetary matters are attracting so much attention, therefore, it may be particularly opportune to consider the moral dimensions of the present monetary regime.
As we shall see, current monetary policy leaves much to be desired when evaluated against the Christian moral tradition and the thought of several Christian historical figures.
This was the message of the great Christian thinkers of the late medieval and early modern period, who typically condemned monetary debasement, and it is a message that their modern-day counterparts would do well to heed.
www.acton.org /publicat/randl/article.php?id=474   (2820 words)

  
 Kirshner, J.: Currency and Coercion: The Political Economy of International Monetary Power.
Kirshner lays the groundwork for the study of what he calls monetary power by providing a taxonomy of the forms that such power can take and of the conditions under which it can have effect.
He then establishes the actual existence of monetary power by showing how the taxonomy is supported by the historical record, including cases from nations from all over the globe and throughout the twentieth century.
He uncovers how monetary power is affected by different monetary regimes, the sources of its success and failure, and the factors that lead states to turn to its use.
www.pupress.princeton.edu /titles/5741.html   (279 words)

  
 International implications of European Economic and Monetary Union   (Site not responding. Last check: 2007-11-06)
Given the expected size of the euro-zone and the likelihood of the euro becoming an international currency, fiscal and monetary policies in the area are likely to have a significant impact on the macroeconomic environment in the rest of the world.
An important issue is how will monetary union affect major bilateral exchange rate developments and their volatility.
A number of factors that are likely to be important in this respect are identified, including the role of fiscal policy, the implementation and conduct of monetary policy as well as the role of structural reforms.
www.oecd.org /LongAbstract/0,2546,en_2649_34577_1863818_1_1_1_1,00.html   (233 words)

  
 General Programming Concepts: Writing and Debugging Programs - Monetary Formatting Subroutines
Although the C programming language standard in conjunction with POSIX provides a means of specifying and accessing monetary information, these standards do not define a subroutine that formats monetary quantities.
There is no defined subroutine that converts a formatted monetary string into a numeric quantity suitable for arithmetic.
Applications that need to do arithmetic on monetary quantities may do so after processing the locale-dependent monetary string into a number.
publibn.boulder.ibm.com /doc_link/en_US/a_doc_lib/aixprggd/genprogc/monetary_formatting_subr.htm   (578 words)

  
 European Monetary Agreement on Encyclopedia.com   (Site not responding. Last check: 2007-11-06)
In view of the facilities available for balance of payments assistance in the International Monetary Fund, the OECD announced (1972) that the EMA would, therefore, be terminated.
The significance of the euro in the international monetary system.
German monetary history in the second half of the twentieth century: from the deutsche mark to the Euro.
www.encyclopedia.com /html/e/europnm1a1.asp   (370 words)

  
 AMERICAN MONETARY INSTITUTE
Several persons have asked the American Monetary Institute to comment on the viewpoint that the "real" reason for the war against Iraq was Sadam Hussein’s decision to price Iraqi oil in the new EURO currency of the European Union rather than in U.S. Dollars.
We had for some time concluded that Greenspan’s Fed was engaging in a deflationary monetary policy, under cover of vast substitute money forms being generated in the "Dot Com" and other market bubbles, where stocks were being used as money.
It is the International Monetary Fund (IMF) with its rule setting procedures that will probably have more to say about the power of currencies, than the OPEC Oil Cartel.
www.monetary.org /petrodollarsvseuros.htm   (1998 words)

  
 FAME - Foundation for the Advancement of Monetary Education   (Site not responding. Last check: 2007-11-06)
The Foundation for the Advancement of Monetary Education (FAME) is a 501(c)(3) public foundation whose mission is to educate people about the benefits of honest monetary weights and measures, as opposed to arbitrary—and fraudulent—(fiat) money which all of us are compelled to use.
If, after learning the facts, people wish to use something other than gold-as-money as the medium of exchange, that should be their choice.) To put this another way, we are in favor of a fully-informed electorate and participatory democracy.
As a not-for-profit foundation dedicated to full and honest disclosure about the perils of our fraudulent fiat money monetary system and the benefits of honest monetary weights and measures, FAME is uniquely positioned to execute this strategy.
www.fame.org   (1651 words)

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