International monetary economics

INTERNATIONAL MONETARY ECONOMICS INTERNATIONAL MONETARY ECONOMICS By MICHAEL A HEILPERIN, D.Sc (Econ.) Assistant Professor at the Graduate Institute of International Studies, Geneva LONGMANS, GREEN AND CO LONDON 214 n 279 INTERNATIONAL MONETARY "Rules of the Game," 14, 187-9, 192, 195,197, 202, 212, 216, 233 Rupee, 116 SAFETY, Economic, see Confidence Saving, 93-4, 100, 231-2 Keynes on, 93 n Sayers, R S., 160 n Securities, 95-7, 124, 164 Self-sufficiency, 225, 227 Settlements, international, 82-4, 90, 100, 121, 165 see also International payments Shares, 94-6 Short-term Funds— in balance of payments, 86-8, 91, 93-4, 110,232 Movements of— in balance of payments, 97-102, 181-2, 200-1, 226, 233 «., 235 and exchange funds, 249-50, 256 and exchange standards, 208, 210, 213, 216, 219-20, 222-3 and Foreign Exchange Theories, 116, 123-4 and re-equilibrium, 148-9, 161-2, 165-6, 168-70, 172-3 Short-term operations, 87-8, 98 «., 100, 125 Silver, 67, 78, 88, 127 Silver standard, 67 n Smith, Adam, 78 n Snyder, Carl, 62 n., 261 n., 262 n Snyder Index of world production, 62-3, 261-2 South Africa, gold mines, 44 Sovereign States, 10, 225 n Sovereignty, 4-9, 208 Specie, 8, 164, 168, see also Gold Specie points, 128 «., see also Gold Points Specie, Simple, currency, see Currency Speculation— and Exchange Fund, 247-8, 250 in forward exchanges, 109, 201 "Spot" and forward rates, 109-10 StabilityExchange, 121-2, 124, 138, 143, 150, 158, 188 «., 196-7, 221, 227-30, 233, 235, 238, 254 /*., 255 International, 11-13, 89 94, 105, 175, 189, 196, 218-19, 223, 225, 254 ECONOMICS Stability (cont.) Monetary and economic, 11-13, 73, 75, 80, 83, 90, 102, 111, 140, 161-2, 166, 168-9, 172, 180-2, 184, 208, 218, 221, 226, 230, 233, 256 Price, 229-30 Stabilization of Franc, 54 Stabilization Fund (U.S.A.), 245 Standard Commodity, 127-8 see also Commodity Standard, Monetary Standard "Standard Scheme"—see League of Nations State Socialism, 227, 247 and Exchange control, 242-5 Statistical constructions, 259-69 Statistical methods, 260 Sterilization, 249 Sterling, 197 "Sterling Area," 209 Sterling-Bloc, 253 Sterling Standard, 204-6, 209, 253 Subsidies, 122 Surplus in international payments, 85 Swiss Government, 212 n Switzerland, and Tripartite Agreement, 253 n TARIFFS, 163 n., 194, 236, 238 «., 247 n Taylor, Amos, 87 n Terms of Trade, 101,149,152 Tourist Expenditure, 88-9 Trade, Balance of—see Balance Trade, Bill of, 94 Trade in Commodities and Services, 88-91 Trade Cycle—see Business Cycle Trade Depressions, see Business Cycle Trade, International, 8, 23, 79, 83, 86, 90-1, 97-8, 115, 124, 130, 135,139,156-7,162,166,193-4, 226, 229 under Exchange Control, 240-1 Theory of, 92 Value of, 181-2 Trade policies, Trade restrictions, 122-3,249 Trade statistics, 89 Trade Unions, 201 Transfer, 91,101, 103,105-6,153 «., 165 n real, 165 «., 167 280 INDEX Transportation, Cost of, 194, 198 Treasury Bills, 253 Tripartite Agreement, 253-4 UNITED States of America, 27, 34, 42, 51 «., 52, 60-2, 64, 67 n., 77, 190-1, 197-8 Department of Commerce, 87-9 Stabilization Fund, 245 and Tripartite Agreement, 253 n VINER, Prof Jacob, 80 «., 81, 90 «., 128 «., 142 «., 149 /!., 151 n., 153 «., I / I WAR Debts, 88 Whale, P B., 154 White, H D., I59/i Whittlesey, Prof Charles R., 202 «., 231 /i Wicksell, Knut, 48 Wilcoxen, 37 Williams, Prof J H., 159 n, on Monetary Stability, 230 World Crisis, The, 13 n.y 225 n World prices, 131-2, 194 Mlynarski on, 77 World s t a t e definition, monetary system in, 3-4, «., 7, 12 World War, 41, 61, 135 YOUNG Plan, 199 281 .. .INTERNATIONAL MONETARY ECONOMICS INTERNATIONAL MONETARY ECONOMICS By MICHAEL A HEILPERIN, D.Sc (Econ.) Assistant Professor at the Graduate Institute of International Studies,... place of gold in the monetary system, and to appreciate its significance as a monetary standard and its relation to "monetary internationalism" 15 Ä INTERNATIONAL MONETARY ECONOMICS (2) Let us... The Cf my "Monetary Internationalism and its Crisis", a chapter in The World Crisis, London, 1938, pp 348 et seq 13 INTERNATIONAL MONETARY ECONOMICS existence in each country of a monetary system