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This study divides the world into currency zones according to the co-movement of each currency with the key currencies … dollar zone. In such a world, the rise of another large economy poses the question not of relative size but rather of re …
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Since the collapse of the Bretton Woods Global International System in 1971, the world economy has experienced … significant currency volatility. The major economies of the world have addressed such volatility differently. The EU has chosen to …
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This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly,...
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