Honduran lempira Honduran lempira The lempira (, sign: L, ISO 4217 code: HNL) is the currency of Honduras. It is subdivided into 100 centavos. The lempira was named after the 16th-century "cacique" Lempira, a ruler of the indigenous Lenca people, who is renowned in Honduran folklore for leading the (ultimately unsuccessful) local native resistance against the Spanish "conquistador" forces. He is a national hero, and is honoured on both the 1 lempira note and the 20 and 50 centavos coins. The lempira was introduced in 1931, replacing the peso at par. In the late 1980s, the exchange rate was two lempiras to
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