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The exchange rate delusion December 20, 2011

Posted by proeconomia in Main, On the crisis, Opinion.
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An excellent article by Nobel laureate Michael Spence @ NYU’s Stern School of Business. It is especially relevant to the euro/drachma debate (it effectively debunks the arguments in favor of a national currency). Check out also the link to his new book www.thenextconvergence.com

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