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The crises suffered in 1992/93 by the old EMS with its narrow exchange rate bands were largely due to the fact that the central banks' unlimited spot intervention obligations held little credibility for speculators. How can a credible exchange rate guarantee be achieved by improving the...
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The crises suffered in 1992/93 by the old EMS with its narrow exchange rate bands were largely due to the fact that the central banks' unlimited spot intervention obligations held little credibility for speculators. How can a credible exchange rate guarantee be achieved by improving the...
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