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Money: Functions of Money The Four Jobs of Money • Medium of exchange • Standard of value/Unit of account • Store of value • Standard of deferred payments • Medium…

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EC 102 — Part II Solutions to the Problem Sets Javier Ortega July 18, 2010 1 Solutions to Problem Set 1: Open Economy 1. Mankiw, Chapter 5, Problem 1. Use the model of…

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Currency Crises and Optimal International Liquidity Mateusz Szczurek Doctor of Philosophy Thesis University of Sussex March 2005 I hereby declare that this thesis has not…

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31 0 CHAPTER e : enera ramewo • • acroeconoml c SI S he main goal of Chapter 8 was to describe business cycles by presenting the business cycle facts. This and the following…

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1. Chapter 26Monetary Policy• Key Concepts• Summary• Practice Quiz• Internet Exercises©2000 South-Western College Publishing 1 2. In this chapter, you willlearn…

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Quantity Theory of Money / Monetary Transmission Mechanism Quantity Theory of Money  Devised by Irving Fisher to explain the link between money and the general price level…

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1.   2. 27-1Keynes and the Great Depression The history of modern macroeconomics starts in 1936, with the publication of Keynes’sGeneral Theory of Employment, Interest,…