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those with other regimes. The experiences of three candidates for EU membership with CBAs (Estonia, Lithuania, and Bulgaria … euro? After considering the pros and cons, this paper provides an affirmative answer, but notes that to preserve the …
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reserve requirements are set in relation to the monetary base. Between 1998 and 2000 in Estonia this ratio even ranged between …
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, Estonia, Lithuania, Bulgaria, and Bosnia and Herzegovina, the authors conclude that currency boards deliver significant …
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