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The Value of Money

A. C. Pigou
The Quarterly Journal of Economics
Vol. 32, No. 1 (Nov., 1917), pp. 38-65
Published by: Oxford University Press
Stable URL: http://www.jstor.org/stable/1885078
Page Count: 28
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The Value of Money
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Abstract

I. & 1. Another formulation of the conditions governing the value of money, 38.--II. & 2. The term "value of money," 39.--III. & 3. The demand for legal- tender money, 40.--& 4. The derived demand schedule for legal tender, 42.--& 5. The separate variables in the formula; total resources, kept in legal-tender form, 44.--& 7. The proportion kept in pockets and tills, 48.--& 8. The proportion kept by bankers, 50.--&& 9, 10. The relation of the present formula to that of the equation of exchange, 52.--IV. && 11-19. The supply of legal- tender money under various conditions: inconvertible paper fixed in amount; partial fixity of supply; free coinage; bimetallism; seigniorage; gold exchange standard, 54.--V. & 20. Demand and supply, 58.--& 21. Production and supply of gold, 58.--&& 22. Common causes likely to affect the various factors, 59.--&& 23. The element of time, 61.--& 24. Possible interaction of demand and supply, 63.--VI. & 25. Conclusion, 65.

Notes and References

This item contains 10 references.

[Footnotes]
  • 1
    American Economic Association Papers, 1905, p. 131
  • 1
    Carver, " The Concept of an Economic Quantity," Quarterly Journal of Economics, May, 1907, pp. 443-444.
  • 1
    Fisher, The Purchasing Power of Money, p. 84
  • 1
    Industrial Organization of an Indian Province, p. 306
  • 1
    American Economic Review, September, 1912, pp. 547-548.
  • 1
    Pierson, Principles of Economics, vol. i, p. 425.
  • 2
    Kinley, Money, p. 50
  • 1
    Edgeworth, Economic Journal, vol. v, p. 436.
  • 1
    American Economic Review, September, 1912, p. 536.
  • 1
    Economic Journal, September, 1910, p. 396.