Popper, Helen; Mandilaras, Alex; Bird, Graham - In: European Economic Review 64 (2013) C, pp. 181-193
This paper uses the simple geometry of the classic, open-economy trilemma to introduce a new gauge of the stability of … fixity, financial openness, and monetary sovereignty. So, the new gauge is bounded and correspondingly non-Gaussian. We use … the new stability gauge in nonlinear panel estimates to examine the post-Bretton Woods period, and we find that trilemma …