Mohammed, Shehu Tijjani (2009): A New World Monetary System: Keynes' view revisited.
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This essay critically examines the view of Keynes on the reform of the international monetary system. We then apply modern monetary and banking theory, where money is redefined as a pure numerical vehicle in contrast to money being defined as a net asset, to appraise those elements that are required for a functioning and efficient international monetary system. It is suggested that Keynes’ view are still very much relevant today if the world is to move from the present non-system of international monetary arrangements to a system where currencies would no longer be perceived as net assets and countries would no longer be grouped as key and non-key currency countries.
|Item Type:||MPRA Paper|
|Original Title:||A New World Monetary System: Keynes' view revisited|
|Keywords:||Monetary System; Bank Money; Absolute Exchange Rate|
|Subjects:||F - International Economics > F3 - International Finance > F33 - International Monetary Arrangements and Institutions|
|Depositing User:||Shehu Mohammed|
|Date Deposited:||08. Nov 2009 06:31|
|Last Modified:||13. Feb 2013 15:14|
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