Titlebook: Competition and Finance; A Reinterpretation o Kevin Dowd Book 1996 Kevin Dowd 1996 financial policy.growth.monetary economics

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Electronic Spectra of Polyatomic Molecules,ted, and yet it has become increasingly apparent in recent years that the answers to some of the most basic issues in financial economics actually depend on it. If we do not understand why agents use the contract forms they do, then we can only have, at most, a limited understanding of firm capital

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https://doi.org/10.1007/978-1-4684-8471-7ncy and that the currency would remain convertible thereafter. Convertibility arises and then persists because the public demand it, and they demand it because of the reassurance it provides them regarding the value of their currency. An implication of this position is that real-world fiat currencie

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malapropism

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https://doi.org/10.1007/978-94-011-0371-8e key to its efficiency is very simple: . harmonises the disparate interests of different individuals, interests which we cannot assume to be naturally harmonious, and which, under alternative arrangements, could easily produce all sorts of undesirable outcomes. In the words of Adam Smith, a man wil

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Bilateral Financial Contracts,upplies of different types of financial instruments. Two types of financial instrument are particularly important: debt contracts that promise investors a specified return in ‘normal’, non-default states and first claim to the issuer’s assets in default states; and equity contracts that give holders