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This thesis was written by Jakob Eberl while having been a research assistant at the Center for Economic Studies (CES) at the University of Munich. It was completed in December 2015 and accepted as a doctoral thesis by the Department of Economics at the University of Munich in May 2016. The...
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-establish credibility during periods of hyperinflation or of economic transition. The importance of monetary unions is a consequence of the … nevertheless a currency board has a credibility advantage compared to a standard fixed exchange rate regime when the time …
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