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Two approaches to the theory of OCA are distinguished in this paper. The first, called the marginalistic approach, attempts to define the OCA from the point of view of a single country, and the second examines the optimality of a currency area of a given membership. The marginalistic approach and its limitations are discussed first. Then, the paper proceeds to the second approach which is discussed...
Goodhart and Lastra (Open Econ Rev 29:49–68, 2018) lay out the mechanisms through which populist political movements may affect central bank independence. This paper provides the first empirical evidence that one aspect commonly attributed to populism, namely national identity politics, has indeed negatively impacted on central bank independence in developing countries. Combining existing datasets...
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