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A New Approach to Monetary Theory and Policy: A Monetary Theory of Value

This paper seeks to establish whether the Malaysian ringgit, as a fiat currency, satisfies the store of value function of money. Since the collapse of the gold standard, the migration of the medium of exchange from a commodity standard to fiat money backed by debt, has not only resulted in a signi...

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Main Author: Adam, Abdullah
Format: Article
Language:English
English
Published: 2014
Subjects:
HG Finance
Online Access:http://eprints.unisza.edu.my/4318/1/FH02-FPPP-14-00712.pdf
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http://eprints.unisza.edu.my/4318/
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spelling my-unisza-ir.43182022-01-03T06:35:42Z http://eprints.unisza.edu.my/4318/ A New Approach to Monetary Theory and Policy: A Monetary Theory of Value Adam, Abdullah HG Finance This paper seeks to establish whether the Malaysian ringgit, as a fiat currency, satisfies the store of value function of money. Since the collapse of the gold standard, the migration of the medium of exchange from a commodity standard to fiat money backed by debt, has not only resulted in a significant decay in intrinsic value but also involves a transfer of wealth. This necessarily requires a re-appraisal of modern monetary theories that have influenced policy makers, but also explains the effect of such policies through analysis of macroeconomic variables on price stability. This paper presents an alternative monetary policy, which targets the stable value of currency to generate price stability over the long term and hence sustain economic growth. 2014-06 Article PeerReviewed text en http://eprints.unisza.edu.my/4318/1/FH02-FPPP-14-00712.pdf image en http://eprints.unisza.edu.my/4318/2/FH02-FESP-15-02669.jpg Adam, Abdullah (2014) A New Approach to Monetary Theory and Policy: A Monetary Theory of Value. World Applied Sciences Journal, 30 (8). pp. 1040-1063. ISSN 1818-4952 DOI: 10.5829/idosi.w asj.2014.30.08.14166
institution Universiti Sultan Zainal Abidin
building UNISZA Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Sultan Zainal Abidin
content_source UNISZA Institutional Repository
url_provider https://eprints.unisza.edu.my/
language English
English
topic HG Finance
spellingShingle HG Finance
Adam, Abdullah
A New Approach to Monetary Theory and Policy: A Monetary Theory of Value
description This paper seeks to establish whether the Malaysian ringgit, as a fiat currency, satisfies the store of value function of money. Since the collapse of the gold standard, the migration of the medium of exchange from a commodity standard to fiat money backed by debt, has not only resulted in a significant decay in intrinsic value but also involves a transfer of wealth. This necessarily requires a re-appraisal of modern monetary theories that have influenced policy makers, but also explains the effect of such policies through analysis of macroeconomic variables on price stability. This paper presents an alternative monetary policy, which targets the stable value of currency to generate price stability over the long term and hence sustain economic growth.
format Article
author Adam, Abdullah
author_facet Adam, Abdullah
author_sort Adam, Abdullah
title A New Approach to Monetary Theory and Policy: A Monetary Theory of Value
title_short A New Approach to Monetary Theory and Policy: A Monetary Theory of Value
title_full A New Approach to Monetary Theory and Policy: A Monetary Theory of Value
title_fullStr A New Approach to Monetary Theory and Policy: A Monetary Theory of Value
title_full_unstemmed A New Approach to Monetary Theory and Policy: A Monetary Theory of Value
title_sort new approach to monetary theory and policy: a monetary theory of value
publishDate 2014
url http://eprints.unisza.edu.my/4318/1/FH02-FPPP-14-00712.pdf
http://eprints.unisza.edu.my/4318/2/FH02-FESP-15-02669.jpg
http://eprints.unisza.edu.my/4318/
_version_ 1720984505679872000
score 13.211869

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