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dc.contributor.advisorGardner, H. Stephen
dc.contributor.authorSeka, Gilles-Eric Kotchi.
dc.contributor.otherBaylor University. Dept. of Economics.en
dc.date.accessioned2008-11-17T20:23:43Z
dc.date.available2008-11-17T20:23:43Z
dc.date.copyright2008-08
dc.date.issued2008-11-17T20:23:43Z
dc.identifier.urihttp://hdl.handle.net/2104/5252
dc.descriptionIncludes bibliographical references (p. 68-70)en
dc.description.abstractIn economics, it is not the quantity that matters the most; it is the amount of utility. The purchasing power of a currency is not merely the volume of goods the money can obtain, but the amount of utility it can command. Primarily, money exchanges for some units of time spent laboring. As such, the ratio of the utility of time to the money wage should measure the purchasing power of the currency. This marginal utility of the time is the first derivative of the utility production function, derived from the compound interest equation, with respect to time. It follows that the purchasing power of the currency is dependent on both the rate of interest and the wage rate. This measure of purchasing power allows computation of a purchasing-power-parity exchange rate that truly reflects the fundamentals of the economy.en
dc.description.statementofresponsibilityby Gilles-Eric Kotchi Seka.en
dc.format.extentix, 70 p. : ill.en
dc.format.extent1676177 bytes
dc.format.extent360312 bytes
dc.format.mimetypeapplication/pdf
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen
dc.rightsBaylor University theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. Contact librarywebmaster@baylor.edu for inquiries about permission.en
dc.subjectForeign exchange rates -- Econometric models.en
dc.subjectUtility theory.en
dc.subjectPurchasing power parity -- Econometric models.en
dc.subjectPurchasing power.en
dc.subjectTime -- Economic aspects.en
dc.titleThe utility of the passing time and measurement of the purchasing power of currencies in the flexible-exchange-rate system.en
dc.typeThesisen
dc.description.degreeM.S. Eco.en
dc.rights.accessrightsWorldwide accessen
dc.contributor.departmentEconomics.en


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