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The Essence of Stability of a Monetary Unit in the Light of the Theory of Conventions

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  • I. Koshchegulova

Abstract

Theoretical approach to the definition of the stability of a monetary unit from the point of view of institutional theory is offered. In terms of the theory of conventions the stability of a monetary unit is the result of joint actions of individuals in the framework of various conventions. The role of informal norms of monetary behavior of individuals forming the level of public trust is analyzed. Civil, market and public opinion conventions are among the factors promoting the stability of state and private monetary units.

Suggested Citation

  • I. Koshchegulova, 2005. "The Essence of Stability of a Monetary Unit in the Light of the Theory of Conventions," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 9.
    • Handle: RePEc:nos:voprec:y:2005:id:1492
    DOI: 10.32609/0042-8736-2005-9-56-66
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