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This paper surveys three types of monetary arrangements. It considers how the choice of an exchange rate regime, the degree of central bank independence, or choice of currency unions or boards depends not only on economic considerations but also on political economy considerations. In economic...
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regions. In particular, it studies whether Austria, the Netherlands, Canada and New Zealand made the right monetary regime … that a floating regime with inflation targeting is best for Canada, a monetary union with Australia is the best course of …
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