Book reviews 299 other by a similarity trnnsformation in the appropriate space. In this way equivalence clamles of outlines may be constructed. Then a shape measurement is construed 8s a function on some domain into the rml line which is the same for all ehmenta of an equivalence clnss.The author offers two procedures for measuring Rhapoe directly: the method of tangent-angle analysis and the method of skeletons. In the former the domain of the function is thc (standardized) arc-length and the tangent angle is the function itself (measured a t the choaen N+1 landmarks which are characterized by the arc-length-value of its position on the outline). The skeleton (also called medial axis, symmetry axis) is the lociis of all points which do not have a unique nearest boundary point upon the shape, and the function (skeletal function, quench function, medial axis function, symmetric distance) is the distance to any of the set of equally distant nerrreat boundary points.The second part of the book deals with an analysis for nieasuremcnt of shape change using biorthogonal grids as a n extension of Cartesian trarisformation grids following D'AECY W. THOMPSON (1917). This method of biorthogonal grids will be explained in detail, BA well its geometrical and formal matheruatic~l meaning as the computer implementation of 'the algorithm. and worked esamples are given. By this method shape change is measured from point to point as pairs of dserential dilatations in the two local principal directions (in tho plane case), i.e. in the two ortogonal directions in the respective point of the biorthogond grid of t h o oLie shape related to its corresponding (homologous) point of tho other shape.

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Australia is a monetary union with strong regional specialization. Manufacturing and service industries are located in the population centres on the south-eastern seaboard, and mining and pastoral activities take place in the interior and north of the continent. Monetary policy affects the interior and north more strongly than the south-eastern seaboard because Australian primary goods are mostly exported and the exchange rate provides the main transmission channel for monetary policy. The Reserve Bank of Australia must consider the economic interests of the interior and north and the south-eastern seaboard. Since monetary policy cannot differentiate between regions, there is a need for interregional macroeconomic risk-sharing.

SUMMARY Currency competition provided a stable monetary standard in those Swiss cantons that deregulated their financial systems after liberal revolutions in the 1830s and 40s. The Swiss currency issuers’ concern with purchasing power stability suggests that each of them faced a real demand for notes that was sensitive to expected changes in the purchasing power of those notes. Given purchasing power stability, the circulation of a currency depended on the quality of the financial services of its issuer. Issuing and keeping notes in circulation was costly. The share of notes in the balance sheets of their issuers was therefore small except in periods when interest rates on other debt instruments were high. ZUSAMMENFASSUNG Freie Konkurrenz zwischen Währungen garantierte monetäre Stabilität in jenen Schweizer Kantonen, die nach liberalen Revolutionen zwischen 1830 und 1850 ihr Währungssystem reformierten. Die Beachtung, die die schweizerischen Notenprodu‐zenten der Kaufkraftstabilität schenkten, legt nahe, dass die reale Banknotennach‐frage von der erwarteten Kaufkraftveränderung abhing. Bei gegebener Kaufkraft ist die Zirkulation einer Währung durch die Qualität der finanziellen Dienstleistungen ihres Anbieters bestimmt. Die Ausgabe von Banknoten verursacht Kosten, und es ist teuer, sie im Verkehr zu halten. Daher war der Anteil von Banknoten in der Bilanz ihrer Anbieter gering, ausser in Zeiten, in denen der Zins auf anderen Finanzierungs‐instrumenten hoch war. RÉSUMÉ La concurrence monétaire libre eut comme résultat une stabilityé monétaire pour les cantons suisses qui avaient réformé leurs systèmes monétaires après les révolutions libérales des années 1830 et 1840. L'importance que les émetteurs monétaires suisses attribuaient à la stabilityé du pouvoir d'achat suggère que la demande pour les billets de banque dépendait de la variation escomptée du pouvoir d'achat. Pour un certain pouvoir d'achat, la circulation monétaire est déterminée par la qualityé des services financiers de l'émetteur. L'émission des billets de banque et leur maintien en circulation est une affaire cou̧teuse. Dans le bilan des émetteurs, la contribution des billets de banque était done insignifiante, sauf dans les périodes où d'autres instruments de dette étaient sujets à des intérȩts éleves.