International Money and Liquidity

Paul Davidson

Chapter 6 in International Money and the Real World, 1982, pp 109-123 from Palgrave Macmillan

Abstract: Abstract The fundamental question for monetary theory is: Why do people hold money which is barren, rather than interest bearing securities or productive physical goods? The answer must involve uncertainty about the future and the inability to precisely coordinate cash inflows with contractual cash outflow commitments.

Keywords: Exchange Rate; Central Bank; Money Supply; Foreign Currency; Foreign Exchange Market (search for similar items in EconPapers)
Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-16679-4_6

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DOI: 10.1007/978-1-349-16679-4_6

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