=+British economic management lost the degree of credibility already won through ERM membership. Two years ago British
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=+British economic management lost the degree of credibility already won through ERM membership. Two years ago British government bonds yielded three percentage points more than German ones. Today the gap is half a point, reflecting investors’ belief that British inflation is on its way down—permanently. (See “Crisis?
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International Economics
ISBN: 9780132146654
9th Edition
Authors: Paul R. Krugman, Maurice Obstfeld, Marc Melitz
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