Using a Common Currency in International Transactions: The Post Keynesian Case for No Exchange Rates

Basil John Moore

Chapter 19 in Shaking the Invisible Hand, 2006, pp 433-453 from Palgrave Macmillan

Abstract: Abstract Confidence is fundamental for the general acceptability of money. In all international systems using convertible national currencies, foreigners can never be completely confident that the foreign currency they accept will always remain exchangeable into their own country’s currency at the current exchange rate. This is particularly the case when the foreign country runs a deficit on current account or holds very small foreign exchange reserves.

Keywords: Exchange Rate; Interest Rate; Gross Domestic Product; Monetary Policy; Central Bank (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51213-9_19

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DOI: 10.1057/9780230512139_19

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