Report
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.
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https://fraser.stlouisfed.org/title/6346/item/606586
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Provider: Federal Reserve Bank of Dallas
Part of Series: Annual Report, Globalization and Monetary Policy Institute
Publication Date: 2015
Pages: 2-9