Abstract
As soon as one comes to grips with the actual problems of international monetary economics it becomes indispensable to account for the fact that virtually every country (or group of countries forming a monetary union) has its own monetary unit (currency) and that most international trade is not barter trade but is carried out by exchanging goods for one or another currency. Besides, there are international economic transactions of a purely financial character, which, therefore, involve different currencies.
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Selected Further Reading
Davis, E.P., 1992, Euromarkets, in The New Palgrave Dictionary of Money and Finance, Macmillan: London.
Steinherr, A., 1998, Derivatives: The Wild Beast of Finance, New York: Wiley.
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© 2004 Springer-Verlag Berlin Heidelberg
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Gandolfo, G. (2004). The Foreign Exchange Market. In: Elements of International Economics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-07005-5_2
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DOI: https://doi.org/10.1007/978-3-662-07005-5_2
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-05935-3
Online ISBN: 978-3-662-07005-5
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