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eastern Europe, European Monetary Union and problems of economic convergence are some of the issues discussed in this volume … comparative perspective, covering Europe, Asia, Latin America and the US. Prudential supervision, banking issues and monetary …
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This paper assesses the consequences of implementing a joint liability debt system in a two-country small open economy model. With joint liability a default of one country makes the other participant liable for its debt. The results highlight a trade-off between the contagion risk, in the sense...
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