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This chapter explores how the economic and political difficulties of the interwar period and the immediate postwar era forced politicians, economists, and institutions to rethink the European economic and monetary system. Triffin was a key figure in that dynamic and quick to spot the fundamental...
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enacting legal reform (rule of law) or focusing on the macro outlook of the economy facilitating cooperation. Reform is … cumulative and starts from initial conditions. Reform effort per period of time is capped. On the basis of the theoretical model … conditions reform will not be successful. In addition, the notion of institutional resilience is introduced as a minimum …
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