Vol. 38 No. 155 (1985)

Editorial

• The dollar yesterday, today, and tomorrow

  C.P. KINDLEBERGER

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• Financial innovation and monetary policy: Italy versus the United States

  G. VACIAGO

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• The intervention and financing mechanisms of the EMS and the role of the ECU

  S. MICOSSI

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• The “new growth path” in Hungary

  B. BALASSA

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• Bank loans or bonds: some lessons of historical experience

  H.W. ARNDT, P.J. DRAKE

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