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Persistent link: https://www.econbiz.de/10009699662
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We develop a model in which a single currency plays the role of medium of exchange in two countries, while their governments are free to determine their fiscal balance and the extent to which they need to extract seigniorage from the common currency. We show that the actions of each government...
Persistent link: https://www.econbiz.de/10010604669
We develop a model in which a single currency plays the role of medium of exchange in two countries, while their governments are free to determine their fiscal balance and the extent to which they need to extract seigniorage from the common currency. We show that the actions of each government...
Persistent link: https://www.econbiz.de/10010643453