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The insulating properties of flexible exchange rates have long been a highly contentious issue in emerging markets - not least in Asian emerging markets. A number of recent theoretical and empirical studies question whether a trade-off exists between rigid exchange rate regimes and insulation...
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, structural change and institutional shake-up while minimizing the importance of the postwar shock. We show that this shock and … different interpretation of post-World War II German economic growth than features in much of the literature. -- Economic growth …
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