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The 1970s saw the recurrence of major turmoil in the international monetary scene in which Japan played no small part …. Japan’s response to past monetary upheavals has always been passive and there were occasions when its passivity and delayed … trace the underlying causes of Japan’s behavioural pattern in an international monetary sphere and identify positive roles …
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Two developments are currently shaping Europe's financial and foreign exchange markets: Innovations, including the private use of the ECU, and the erratic fluctuations of the US dollar. Professor Nydegger analyses the causes and effects of these developments from the perspective of the world...
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As the recent struggles connected with the readjustment of exchange rates within the European Monetary System have shown, the relatively unproblematic "running in" period of the EMS, which was supposed to be a constructive contribution to the creation of a more viable international monetary...
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experience. Our author argues that the international liquidity “problem” has indeed not been resolved during the last decade and …
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The record of the European Monetary System at the five-year mark is rather a disappointment for the System’s advocates. Has the “EMS experiment” failed? Or is there potential for developing the System further to the advantage of all member countries?
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