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possible ways of enhancing credibility. …
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) that fiscal reform is of utmost importance for macroeconomic reforms, (2) that credibility cannot be imported via a fixed …
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The management of the exchange rate by the Russian authorities obviously lacks both effectiveness and efficiency. "Black Tuesday" has vividly shown how vulnerable the rouble is to speculative attacks. In this article, a "classical" proposal is evoked and is discussed as an alternative to the...
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Two macroeconomic constraints determine the credibility of an exchange rate system: the availability of foreign …
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