Ito, Hiro; Kawai, Masahiro - East Asian Bureau of Economic Research (EABER) - 2014
estimate the three policy indexes under the trilemma constraint that they must add up to a constant. By applying the seemingly … combination in a way consistent with the trilemma constraint. …€œoptimal†trilemma policy combinations evolve around the time of a financial crisis. Policy combinations seem to violate the trilemma …