An extranational payment unit with constant purchasing power: the Eurostable

Jacques Riboud

Chapter 4 in The Mechanics of Money, 1980, pp 249-262 from Palgrave Macmillan

Abstract: Abstract The modern world lacks any kind of reliable international currency. There is no currency capable of correctly carrying out the role of international numéraire — that of medium of exchange and reserve and intervention instrument for central banks. Alone among systems of measurement, modern monetary systems are devoid of a genuine standard of value against which the value of goods and services can be compared in space and time.

Keywords: Central Bank; Balance Sheet; Purchasing Power; National Currency; Reference Currency (search for similar items in EconPapers)
Date: 1980
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-05112-0_21

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DOI: 10.1007/978-1-349-05112-0_21

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