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First established during the 1830's, the Enskilda banks were characterized by unlimited owner liability and the right to issue bank notes. Consequently, in Swedish banking history, these banks have been considered to be primitive relics. This paper utilizes new data to revise this picture of the...
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commitment such as the goal of price stability or low inflation or an external commitment to peg to a foreign currency will …
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policy analysis. It suggests that the best method of solving the puzzle implies a close connection between theory and …
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