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We assess the empirical validity of the trilemma (or impossible trinity) in the 2000s for a large sample of advanced … from the trilemma: Both exchange rate flexibility and capital controls reduce the sensitivity of local to base …
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A decade has passed since the Asian crisis of 1997-1998 which decimated many of the regional economies. While the crisis itself led to severe economic and political consequences, its primary cause was an inappropriate mix of policies, as regional economies attempted to simultaneously maintain...
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The policy Trilemma (the ability to accomplish only two out of three policy objectives -financial integration, exchange … rate stability and monetary autonomy) continues to be a valid macroeconomic framework. The financial globalization during … financial globalization has been the growing exposure of developing countries to costly capital flights and deleveraging crises …
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