Some Theory of Innovated Open Financial Networks

M. L. Burstein
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M. L. Burstein: York University

Chapter 8 in The New Art of Central Banking, 1991, pp 153-168 from Palgrave Macmillan

Abstract: Abstract The theory incorporates ongoing denationalization of money; and along one of its azimuths, fully developed in Chapter 2, fluctuations in values of national currencies are a mere sideshow: see the extended ECU standard. And it explains how Euro-market dealings may continuously reconstruct virtual currency positions so that switches in asset preferences are accommodated by balance sheet reconstruction — through the agency of dealers, including ‘speculators’.

Keywords: Trade Cycle; Central Bank; Balance Sheet; Money Supply; Monetary Authority (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11626-3_8

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DOI: 10.1007/978-1-349-11626-3_8

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