The Trilemma in Practice: Monetary Policy Autonomy in an Economy with a Floating Exchange Rate
Abstract: For many emerging-market economies, swings in the global financial cycle make the trilemma more of a dilemma. Without restrictions on international capital flows, monetary independence is not possible, even for a country with a floating exchange rate.
File format is application/pdf
Description: Full text
Provider: Federal Reserve Bank of Dallas
Part of Series: Annual Report, Globalization and Monetary Policy Institute
Publication Date: 2015