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European exchange rate mechanism (ERM) |
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European exchange rate mechanism (ERM)The system that countries in the European Union once used to pay exchange rates within bands around an ERM central value.European exchange rate mechanism (ERM) Similar MatchesPrice specie flow mechanismPrice specie flow mechanismSame as specie flow mechanism. Dispute settlement mechanismDispute settlement mechanismThe procedure by which the WTO settles disputes among members, primarily by means of a three-person panel that hears the case and issues a report, subject to review by the Appellate Body. Trade Policy Review MechanismTrade Policy Review MechanismThe periodic review of the trade policies and practices of the member countries of the WTO, conducted and published by the WTO. Specie flow mechanismSpecie flow mechanismUnder the gold standard, the mechanism by which international payments would adjust. A country with high inflation would export less, import more, and thus lose specie, i.e., gold. With the money supply fixed to the quantity of gold, the resulting monetary contraction would reduce prices. Due to David Hume. Balance of payments adjustment mechanismBalance of payments adjustment mechanismAny process, especially any automatic one, by which a country with a payments imbalance moves toward balance of payments equilibrium. Under the gold standard, this was the specie flow mechanism. Further SuggestionsAdjustment mechanismExchange Rate Mechanism (ERM) Exchange Rate Mechanism Price specie flow mechanism Exchange Rate Mechanism |
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