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- W29421837 abstract "Historical experience with monetary unions suggests that they were dissolved when it was found advantageous to inflate the currency by changing the silver content of the papal coinage. The Latin Monetary Union of 1865 undermined its own foundation before it adopted the gold standard in 1878 and was sustained, formally at least, until 1927. It is no accident that it the gold standard was found to be the only way to preclude individual members from engaging in inflationary policies. The union was dismantled as the result of the First World War and its financing. That was hardly an efficient way to dissolve the monetary union and suggests that returning back to national currencies is not a way to ensure international financial stability.KeywordsInterest RateCentral BankPublic DebtMonetary UnionDebt CrisisThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves." @default.
- W29421837 created "2016-06-24" @default.
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- W29421837 date "2013-11-01" @default.
- W29421837 modified "2023-09-23" @default.
- W29421837 title "Can There be an Efficient Dissolution of a Monetary Union?" @default.
- W29421837 doi "https://doi.org/10.1007/978-3-319-01171-4_8" @default.
- W29421837 hasPublicationYear "2013" @default.
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