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How did developing countries adapt to the collapse of the Bretton Woods system? Using new archival evidence, we argue that New Zealand offers an interesting case study of decision-making in a small economy dependent on primary production with close economic and political links to two larger...
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After the breakdown of the Bretton Woods system, Austria adhered to an exchange rate policy of adjustably pegging the … to considerations of an optimum currency area comprising Germany and Austria. In the paper it is shown that (i) the … remarkable real wage flexibility in Austria, and (iii) a currency union with Germany was harmful to real sector developments in …
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