money

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Related to monetary: International Monetary Fund

Money

Currency and coin that are guaranteed as legal tender by the government, a regulatory agency or bank.

Money

A commodity, asset, or (most commonly) currency that may be exchanged for goods and services. Usually, the domestic government issues its own money and provides penalties to persons and businesses in its jurisdiction that do not accept it. Money and the money supply are integral to determining interest rates, inflation, and especially economic growth. There is no uniform agreement as to what qualifies as money; some economists include more mediums of exchange than other economists. Every society throughout history has used some sort of money, even bartering economies traded for something perceived to be equivalent. See also: Money supply, Liquidity.

money

A generally accepted medium for the exchange of goods and services, for measuring value, or for making payments. Many economists consider the amount of money and growth in the amount of money in an economy very influential in determining interest rates, inflation, and the level of economic activity. There is some disagreement among economists as to what types of things actually should be classified as money; for example, should balances in money market funds be included. See also money supply.

money

an asset which is generally acceptable as a means of payment in the sale and purchase of products and other assets and for concluding borrowing and lending transactions. The use of money enables products and assets to be priced in terms of the monetary units of the country (pence and pounds in the UK, for example), and to be exchanged using money as a common medium of exchange rather than the bartering of one product against another. Money also acts as a store of value (money can be held over a period of time and used to finance future payments) and as a unit of account (money is used to measure and record the value of products and assets, as for example in compiling the country's NATIONAL INCOME accounts). See MONEY SUPPLY, MONETARY POLICY.

money

an ASSET that is generally acceptable as a medium of exchange. Individual goods and services, and other physical assests, are ‘priced’ in terms of money and are exchanged using money as a common denominator rather than one GOOD, etc., being exchanged for another (as in BARTER). The use of money as a means of payment enables an economy to produce more output because it facilitates SPECIALIZATION in production and reduces the time spent by sellers and buyers in arranging exchanges. Other important functions of money are its use as a store of value or purchasing power (money can be held over a period of time and used to finance future payments), a standard of deferred payment (money is used as an agreed measure of future receipts and payments in contracts) and as a unit of account (money is used to measure and record the value of goods or services, e.g. GROSS NATIONAL PRODUCT, over time). See LEGAL TENDER.
References in periodicals archive ?
But it is not only the satisfaction of the required quorum and votes that are material here, because there is also the requirement in the law that the members of the Monetary Board shall exercise extraordinary diligence in the performance of their duties.
Contributors to this volume revisit the thinking behind unconventional monetary policy and the "new monetary framework," make the case for transparent monetary rules versus foggy discretion, and point to the distortions generated by ultra-low interest rates and preferential credit allocation.
Other presenters discussed how to assess a country's monetary policy stance and its impact on the real economy when the policy interest rate is lowered to zero, that is, when it hits the zero lower bound.
The OMO, which SBP started on ad hoc basis in October 1991, supplemented by the changes in the discount rates and cash reserve requirements and issuance of T bills of different maturity in June 1998, facilitated in the management of the monetary and credit expansion.
He said that the four members are pushing ahead with the monetary union but said some "technical points" need to be cleared.
Patelis (1997) examines whether shifts in the stance of monetary policy can account for the observed predictability in stock returns.
One implication of this understanding is that as changes in the target federal funds rate became more predictable, changes in the monetary base may have become less predictable.
The empirical analysis shows that the most important policy objectives are economic growth and inflation, which are in fact the which the Government also announces annual targets, do not have significant impact on the PBoC's monetary stance.
The court determined that because the guaranty was coextensive with the rent subsidy, the parties intended the term of the guaranty to be limited to three years unless Madison suffered some tangible monetary loss during those three years.
Enthusiasts for European monetary union hoped that its establishment would itself be a force for convergence of labor costs so that relative exchange rate changes within the zone could be abandoned.
However, monetary policy accommodation, coupled with robust underlying growth in productivity, is providing ongoing support to economic activity that will likely be augmented by planned rebuilding in the hurricane-affected areas.
Controlling inflation has been a big worry for the Central Bank--its goal is to limit inflation to 3% annually--a path also taken by other monetary authorities in the region.