=+2. In the EMS before September 1992, the Italian lira/DM exchange rate could fluctuate by up to

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=+2. In the EMS before September 1992, the Italian lira/DM exchange rate could fluctuate by up to 2.25 percent up or down. Assume that the lira/DM central parity and band

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International Economics

ISBN: 9780132146654

9th Edition

Authors: Paul R. Krugman, Maurice Obstfeld, Marc Melitz

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