Mozambican metical 24,500 meticais per USD, until the Zimbabwean dollar took the title in late August 2005. On July 1, 2006, Mozambique redenominated the metical at a rate of 1000:1. The new ISO 4217 code is MZN. New coins and banknotes were introduced on July 1, 2006, and the transitional period during which both old and new meticais could be used lasted until December 31, 2006. During the conversion, the new currency was locally abbreviated as MTn, but has since largely returned to MT. Old meticais were redeemed by the Bank of Mozambique for a period of six years, until December 31,
Monetary-disequilibrium theory Monetary-disequilibrium theory Monetary disequilibrium theory is a product of the Monetarist school and is mainly represented in the works of Leland Yeager and Austrian macroeconomics. The basic concept of monetary equilibrium (disequilibrium) was, however, defined in terms of an individual's demand for cash balance by Mises (1912) in his "Theory of Money and Credit". Monetary disequilibrium is one of three theories of macroeconomic fluctuations which accord an important role to money, the others being the Austrian theory of the business cycle and one based on rational expectations. Leland Yeager's (1968) understanding of the monetary disequilibrium theory begins with fundamental properties