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It must not beforgotten that if there was bad borrowing.
there was also bad lending. As a result of reckless competition,
encouragement was sometimes given to borrowers and
lenders alike without su...
Most economists recognize the mutual incompatibility of fixed
exchange rates as maintained under the current European Monetary
System (EMS), free capital mobility as sought by the single-market
obj...
A stable monetary order is for me both a goal and an instrument for
achieving other goals. My crucial message is the following: a basic
precondition for creating a stable monetary order goes beyond
...
The title of my paper is different from the title given to this volume—“
The Search for Global Monetary Order”—reflecting a slight
quibble about the dynamics of replacing an old order with something...