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Hard and Soft Money

In: Money Hard and Soft

Author

Listed:
  • Brendan Brown

Abstract

Most of us know that US dollars are highly suitable for inclusion in a currency investment portfolio. We know equally that Italian lire should not be represented there. As the types of currency instrument and their denomination multiply, intuition is less likely to be sufficient. Should the Italian lira not be considered, even when yielding 35 per cent per annum in the euro-market? Does that gem among currencies, the Swiss franc, lose glitter when its interest rate becomes negative? Multi-tiered money presents even more complex problems for appraisal — for example which type of Belgian franc should be selected? A methodology is developed here for ranging currencies in a continuum from ‘hard’ to ‘soft’ according to their investment appeal.

Suggested Citation

  • Brendan Brown, 1978. "Hard and Soft Money," Palgrave Macmillan Books, in: Money Hard and Soft, chapter 1, pages 1-31, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-03659-2_1
    DOI: 10.1007/978-1-349-03659-2_1
    as

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