Warianty tytułu
Języki publikacji
Abstrakty
The purpose of this paper was to present a theory of the value of money relevant to the realities of contemporary economic systems. Labour constitutes an economic value, therefore wages and wage productivity are a source of the value of money. This thought was expressed in a set of mathematical formulas addressing the question of the value of money in the aspect of foreign exchange. The main result of the presented research is a model that determines the exchange rate as a function of inflation and wage productivity parities. Consequently, the PPP hypothesis was generalised by way of including additional variables to the exchange rate model. (fragment of original text)
Twórcy
autor
- Cracow University of Economics, Poland
Bibliografia
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171216855