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its currency and an exchange rate peg. This way, the central bank can implement the optimal escape from a liquidity trap … to escape from a liquidity trap. …
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This paper evaluates the demand for broad money (M2) in The Gambia for January 1988-June 2007. There appears to be a long-run relationship for demand for real M2, but the relationship is not stable. Exogenous output shocks, financial innovation, changes in income velocity, and inadequate data...
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