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  • Sebastian Edwards and Julio Santaella, A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform (University of Chicago Press, 1993), chap. 8, https://www.nber.org/books-and-chapters/retrospective-bretton-woods-system-lessons-international-monetary-reform/devaluation-controversies-developing-countries-lessons-bretton-woods-era.

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This paper uses historical data from the Bretton Woods era to analyze the effectiveness of devaluation-based...

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