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The Political Choice and Collapse of Fixed Exchange Rates

Evidence suggests there is a strong tendency among states to choose fixed exchange rates. Yet the interpretation of fixed exchange rates as a monetary policy rule remains unconvincing. Adopting an endogenous policy perspective, this paper argues that political-support-maximizing governments... Full description

1st Person: Hefeker, Carsten
Source: in Journal of Institutional and Theoretical Economics (JITE) / Zeitschrift für die gesamte Staatswissenschaft Vol. 152, No. 2 (1996), p. 360-379
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Type of Publication: Article
Language: English
Published: 1996
Keywords: research-article
Online: Volltext
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