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Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and evaluated, with the aim of drawing lessons for monetary policy from the recent historical record. All four countries shifted during this period to money targeting, though with...
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Europe (and later North America). Imperial China was a politically integrated structure with regional segmentation of … thought, such as later in Europe. Basic concepts such as monetary function, the velocity of circulation, inflation, interest … and deflation and monetary control much like Europe to follow. Monetary thought thus seemingly preceded Western thought …
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This paper documents the effects of exchange rates and the external constraint during the interwar years. In the absence of international policy coordination, exchange rate depreciation is shown to have been a necessary precondition for the adoption of policies promoting recovery from the Great...
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