Measures of Money in the UK

Paul Temperton

Chapter 2 in UK Monetary Policy, 1991, pp 23-35 from Palgrave Macmillan

Abstract: Abstract There is a wide range of financial assets in the UK which possess, in varying degrees, the characteristics of money. The three functions of money are that it is a unit of account, a store of value and a means of payment. While all financial assets generally considered to be money satisfy the first two criteria, the extent to which they can be used as a means of payment varies. Notes and coin can be used for payment for many, although certainly not all, goods; for larger transactions payment by cheque may be required by the seller. Credit cards have become an increasingly common means of payment, although as they eventually entail the use of some other form of payment (typically a cheque drawn on a bank or building society deposit) their use is not explicitly regarded as a form of money.

Keywords: Money Supply; Financial Asset; Monetary Aggregate; Bank Deposit; Building Society (search for similar items in EconPapers)
Date: 1991
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11836-6_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349118366

DOI: 10.1007/978-1-349-11836-6_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().