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The success of European Economic and Monetary Union (EMU) will depend on the stability of the euro. The monetary policy framework is yet to be decided, but is likely to involve either money or inflation targeting. Stochastic simulations compare the outcomes for major macroeconomic and financial...
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Preface Financial Markets and Intermediation Recent Developments and the Role of the Financial Sector p. 4 Recent Economic Developments Role of the Financial Sector Development of the Financial Sector p. 7 Prereform Financial System Reforms and...
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