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What is the long-run relationship between monetary and fiscal policies? This paper provides an answer by examining a large set of data covering major economies during the past 115 years. The evidence suggests the existence of a close interaction between the monetary regime, that is the behaviour...
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monetary unions intact. Our main lesson from the history of monetary unions is that political factors will be the central …
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The Gold Pool (1961-1968) was one of the most ambitious cases of central bank cooperation in history. Major central …
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