Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Federal Reserve: History, Purposes And Functions - An Analysis, Mukunda Lakshamanarao
Federal Reserve: History, Purposes And Functions - An Analysis, Mukunda Lakshamanarao
LLM Theses and Essays
On December 23, 1913, President Woodrow Wilson signed into law the Federal Reserve Act. With this law, Congress established a central banking system which would enable the world’s most powerful industrial nation to manage its money and credit more effectively than ever before. The political and legislative struggle to create the Federal Reserve System was long and often bitter, and this final product in 1913 was the result of a carefully crafted and somewhat tenuous political compromise between national and regional powers. Since its founding, the Federal Reserve System has evolved to meet the needs of a changing financial system …
Legal Foundations And Institutional Framework Of The Monetary Union In Europe And In The United States, Johan Van Den Cruijce
Legal Foundations And Institutional Framework Of The Monetary Union In Europe And In The United States, Johan Van Den Cruijce
LLM Theses and Essays
An economic and monetary union (EMU) is an area where there is complete freedom of movement of persons, goods, services, and capital. The financial markets in an EMU are completely integrated while the national currencies are conventional and have fixed exchange rates. Ultimately the national currencies may be replaced by a common currency and there will be one monetary policy. The EMU is considered to be the highest form of economic integration. This paper examines two examples of a monetary union; the first part focuses on the blueprint for a European monetary union as laid out in the Treaty on …