The financial trilemma
The financial trilemma states that financial stability, financial integration and national financial policies are incompatible. Any two of the three objectives can be combined but not all three; one has to give. This paper develops a model to underpin the financial trilemma.
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- Obstfeld, Maurice & Shambaugh, Jay C. & Taylor, Alan M., 2004.
"The Trilemma in History: Tradeoffs among Exchange Rates, Monetary Policies, and Capital Mobility,"
Center for International and Development Economics Research, Working Paper Series
qt4rq9v2rb, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
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