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Stage 2 of monetary union in the Europe is to involve greater monetary cooperation; the paper examines the case for using the M3 money supply aggregated across quot;core ERMquot; countries--those with low inflation and absence of realignments--as a vehicle for that cooperation. First, the...
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Stage 2 of monetary union in the Europe is to involve greater monetary cooperation; the paper examines the case for using the M3 money supply aggregated across “core ERM” countries- -those with low inflation and absence of realignments- -as a vehicle for that cooperation. First, the...
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