Financial Adjustment in Small, Open Economies in Light of the “Impossible Trinity” Trilemma
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Bohl, Martin T. & Michaelis, Philip & Siklos, Pierre L., 2016. "Austerity and recovery: Exchange rate regime choice, economic growth, and financial crises," Economic Modelling, Elsevier, vol. 53(C), pages 195-207.
- repec:cdl:ucscec:qt9k29n6qn is not listed on IDEAS
- Maurice Obstfeld, 2021.
"Trilemmas and Tradeoffs: Living with Financial Globalization,"
World Scientific Book Chapters, in: Steven J Davis & Edward S Robinson & Bernard Yeung (ed.), THE ASIAN MONETARY POLICY FORUM Insights for Central Banking, chapter 2, pages 16-84,
World Scientific Publishing Co. Pte. Ltd..
- Maurice Obstfeld, 2015. "Trilemmas and Tradeoffs: Living with Financial Globalization," Central Banking, Analysis, and Economic Policies Book Series, in: Claudio Raddatz & Diego Saravia & Jaume Ventura (ed.),Global Liquidity, Spillovers to Emerging Markets and Policy Responses, edition 1, volume 20, chapter 2, pages 013-078, Central Bank of Chile.
- Maurice Obstfeld, 2015. "Trilemmas and trade-offs: living with financial globalisation," BIS Working Papers 480, Bank for International Settlements.
- Joshua Aizenman & Menzie David Chinn & Hiro Ito, 2013. "The “Impossible Trinity” Hypothesis in an Era of Global Imbalances: Measurement and Testing," Review of International Economics, Wiley Blackwell, vol. 21(3), pages 447-458, August.
- Stephen Cecchetti & Michael R King & James Yetman, 2011. "Weathering the financial crisis: good policy or good luck?," BIS Working Papers 351, Bank for International Settlements.
- Jay C. Shambaugh, 2004. "The Effect of Fixed Exchange Rates on Monetary Policy," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(1), pages 301-352.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Feng, Ling & Le, Duong Thuy & Yuan, Fan, 2023. "Inclusion of the RMB in SDRs and the impossible trinity in China," Economic Systems, Elsevier, vol. 47(2).
- Máté Csiki & Gábor Dávid Kiss, 2018. "Capital Market Contagion in the Stock Markets of Visegrád Countries Based on the Heckman Selection Model," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 17(4), pages 23-52.
- Haya Hoja & Pei Yu, 2022. "Developing and Enhancing the Competitiveness of the Palestinian National Product: The Leather and Footwear Sector—Analysis and Evaluation of Government Interventions," Sustainability, MDPI, vol. 14(13), pages 1-29, June.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Georgios Georgiadis & Feng Zhu, 2019.
"Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates,"
BIS Working Papers
797, Bank for International Settlements.
- Georgios Georgiadis & Feng Zhu, 2019. "Monetary Policy Spillovers, Capital Controls and Exchange Rate Flexibility, and the Financial Channel of Exchange Rates," Globalization Institute Working Papers 363, Federal Reserve Bank of Dallas.
- Georgios Georgiadis & Feng Zhu, 2019. "Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates," GRU Working Paper Series GRU_2019_009, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
- Georgiadis, Georgios & Zhu, Feng, 2019. "Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates," Working Paper Series 2267, European Central Bank.
- Joshua Aizenman & Menzie D. Chinn & Hiro Ito, 2020.
"Financial Spillovers and Macroprudential Policies,"
Open Economies Review, Springer, vol. 31(3), pages 529-563, July.
- Joshua Aizenman & Menzie D. Chinn & Hiro Ito, 2017. "Financial Spillovers and Macroprudential Policies," NBER Working Papers 24105, National Bureau of Economic Research, Inc.
- Hiroyuki ITO & Phuong TRAN, 2019. "Managing the Yield Curve in a Financially Globalized World," Discussion papers 19012, Research Institute of Economy, Trade and Industry (RIETI).
- Kuersteiner, Guido M. & Phillips, David C. & Villamizar-Villegas, Mauricio, 2018.
"Effective sterilized foreign exchange intervention? Evidence from a rule-based policy,"
Journal of International Economics, Elsevier, vol. 113(C), pages 118-138.
- Guido M. Kuersteiner & David C. Phillips & Mauricio Villamizar-Villegas, 2016. "Effective Sterilized Foreign Exchange Intervention? Evidence from a Rule-Based Policy," Borradores de Economia 964, Banco de la Republica de Colombia.
- Jonathan Kearns & Andreas Schrimpf & Fan Dora Xia, 2023.
"Explaining Monetary Spillovers: The Matrix Reloaded,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(6), pages 1535-1568, September.
- Jonathan Kearns & Andreas Schrimpf & Dora Xia, 2018. "Explaining Monetary Spillovers: The Matrix Reloaded," BIS Working Papers 757, Bank for International Settlements.
- Schrimpf, Paul & Kearns, Jonathan & XIA, Fan Dora, 2020. "Explaining Monetary Spillovers: The Matrix Reloaded," CEPR Discussion Papers 15006, C.E.P.R. Discussion Papers.
- Jonathan Kearns & Andreas Schrimpf & Fan Dora Xia, 2019. "Explaining Monetary Spillovers: The Matrix Reloaded," RBA Research Discussion Papers rdp2019-03, Reserve Bank of Australia.
- Jeffrey Frankel, 2021.
"Systematic Managed Floating,"
World Scientific Book Chapters, in: Steven J Davis & Edward S Robinson & Bernard Yeung (ed.), THE ASIAN MONETARY POLICY FORUM Insights for Central Banking, chapter 5, pages 160-221,
World Scientific Publishing Co. Pte. Ltd..
- Jeffrey Frankel, 2019. "Systematic Managed Floating," Open Economies Review, Springer, vol. 30(2), pages 255-295, April.
- Jeffrey A. Frankel, 2017. "Systematic Managed Floating," NBER Working Papers 23663, National Bureau of Economic Research, Inc.
- Frankel, Jeffrey, 2017. "Systematic Managed Floating," Working Paper Series rwp17-025, Harvard University, John F. Kennedy School of Government.
- Katharina Bergant & Francesco Grigoli & Niels‐Jakob Hansen & Damiano Sandri, 2024.
"Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)?,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(6), pages 1405-1438, September.
- Sandri, Damiano & Bergant, Katharina & Grigoli, Francesco & Hansen, Niels-Jakob, 2020. "Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)?," CEPR Discussion Papers 14948, C.E.P.R. Discussion Papers.
- Katharina Bergant & Francesco Grigoli & Niels-Jakob Hansen & Katharina Damiano Sandri, 2023. "Dampening global financial shocks: can macroprudential regulation help (more than capital controls)?," BIS Working Papers 1097, Bank for International Settlements.
- Katharina Bergant & Mr. Francesco Grigoli & Mr. Niels-Jakob H Hansen & Mr. Damiano Sandri, 2020. "Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)?," IMF Working Papers 2020/106, International Monetary Fund.
- Albrizio, Silvia & Choi, Sangyup & Furceri, Davide & Yoon, Chansik, 2020.
"International bank lending channel of monetary policy,"
Journal of International Money and Finance, Elsevier, vol. 102(C).
- Silvia Albrizio & Sangyup Choi & Davide Furceri & Chansik Yoon, 2019. "International Bank Lending Channel of Monetary Policy," GRU Working Paper Series GRU_2019_017, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
- Silvia Albrizio & Sangyup Choi & Davide Furceri & Chansik Yoon, 2019. "International Bank Lending Channel of Monetary Policy," Working papers 2019rwp-145, Yonsei University, Yonsei Economics Research Institute.
- Silvia Albrizio & Sangyup Choi & Davide Furceri & Chansik Yoon, 2019. "International Bank Lending Channel of Monetary Policy," IMF Working Papers 2019/234, International Monetary Fund.
- Silvia Albrizio & Sangyup Choi & Davide Furceri & Chansik Yoon, 2019. "International bank lending channel of monetary policy," Working Papers 1938, Banco de España.
- Davis, J. Scott & Presno, Ignacio, 2017.
"Capital controls and monetary policy autonomy in a small open economy,"
Journal of Monetary Economics, Elsevier, vol. 85(C), pages 114-130.
- J. Scott Davis & Ignacio Presno, 2017. "Capital Controls and Monetary Policy Autonomy in a Small Open Economy," International Finance Discussion Papers 1190, Board of Governors of the Federal Reserve System (U.S.).
- Shang-Jin Wei, 2018.
"Managing Financial Globalization: Insights from the Recent Literature,"
Working Papers
id:12586, eSocialSciences.
- Shang-Jin Wei, 2018. "Managing Financial Globalization: Insights from the Recent Literature," NBER Working Papers 24330, National Bureau of Economic Research, Inc.
- Steiner, Andreas & Steinkamp, Sven & Westermann, Frank, 2019.
"Exit strategies, capital flight and speculative attacks: Europe's version of the trilemma,"
European Journal of Political Economy, Elsevier, vol. 59(C), pages 83-96.
- Andreas Steiner & Sven Steinkamp & Frank Westermann, 2017. "Exit Strategies, Capital Flight and Speculative Attacks: Europe's Version of the Trilemma," IEER Working Papers 108, Institute of Empirical Economic Research, Osnabrueck University.
- Andreas Steiner & Sven Steinkamp & Frank Westermann, 2017. "Exit Strategies, Capital Flight and Speculative Attacks: Europe's Version of the Trilemma," CESifo Working Paper Series 6753, CESifo.
- Terrones, Marco E., 2020.
"Do fixers perform worse than non-fixers during global recessions and recoveries?,"
Journal of International Money and Finance, Elsevier, vol. 104(C).
- Marco E. Terrones, 2019. "Do Fixers Perform Worse than Non-Fixers during Global Recessions and Recoveries?," Working Papers 139, Peruvian Economic Association.
- Terrones, Marco E., 2019. "Do Fixers Perform Worse than Non-Fixers during Global Recessions and Recoveries?," MPRA Paper 91783, University Library of Munich, Germany.
- Quy Ta & Yothin Jinjarak & Ilan Noy, 2022.
"“How Do Shocks Affect International Reserves? A Quasi-Experiment of Earthquakes”,"
Open Economies Review, Springer, vol. 33(5), pages 945-971, November.
- Yothin Jinjarak & Ilan Noy & Quy Ta, 2020. "How Shocks Affect International Reserves? A Quasi-Experiment of Earthquakes," CESifo Working Paper Series 8632, CESifo.
- Davis, J. Scott & Valente, Giorgio & van Wincoop, Eric, 2021.
"Global drivers of gross and net capital flows,"
Journal of International Economics, Elsevier, vol. 128(C).
- J. Scott Davis & Giorgio Valente & Eric Van Wincoop, 2019. "Global Drivers of Gross and Net Capital Flows," Globalization Institute Working Papers 357, Federal Reserve Bank of Dallas.
- Joshua Aizenman & Menzie Chinn & Hiro Ito, 2023.
"The Impacts of Financial Crises on the Trilemma Configurations,"
Open Economies Review, Springer, vol. 34(3), pages 479-517, July.
- Joshua AIZENMAN & Menzie CHINN & Hiroyuki ITO, 2022. "The Impacts of Financial Crises on the Trilemma Configurations," Discussion papers 22029, Research Institute of Economy, Trade and Industry (RIETI).
- Degasperi,Riccardo & Hong, Seokki Simon & Ricco, Giovanni, 2020.
"The Global Transmission of U.S. Monetary Policy,"
The Warwick Economics Research Paper Series (TWERPS)
1257, University of Warwick, Department of Economics.
- Riccardo Degasperi & Seokki Simon Hong & Giovanni Ricco, 2024. "The global transmission of U.S. monetary policy," Temi di discussione (Economic working papers) 1466, Bank of Italy, Economic Research and International Relations Area.
- Riccardo Degasperi & Seokki Simon Hong & Giovanni Ricco, 2023. "The Global Transmission of U.S. Monetary Policy," Working Papers 2023-02, Center for Research in Economics and Statistics.
- Riccardo Degasperi & Seokki Simon Hong & Giovanni Ricco, 2021. "The global transmission of U.S. monetary policy," Working Papers hal-03373749, HAL.
- Ricco, Giovanni & Degasperi, Riccardo & Hong, Simon, 2020. "The Global Transmission of U.S. Monetary Policy," CEPR Discussion Papers 14533, C.E.P.R. Discussion Papers.
- Jonathan Scott Davis, 2017.
"External debt and monetary policy autonomy,"
Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 35(82), pages 53-63, April.
- Jonathan Scott Davis, 2017. "External debt and monetary policy autonomy," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 35(82), pages 53-63.
- Ahmed, Rashad, 2021. "Monetary policy spillovers under intermediate exchange rate regimes," Journal of International Money and Finance, Elsevier, vol. 112(C).
- repec:ocp:rpecon:pp_20-22 is not listed on IDEAS
- Shambaugh, Jay C. & Zhou, Hang, 2024. "Interest rates across the world: Global, regional, and idiosyncratic factors," Journal of Banking & Finance, Elsevier, vol. 163(C).
- Ligonniere, Samuel, 2018.
"Trilemma, dilemma and global players,"
Journal of International Money and Finance, Elsevier, vol. 85(C), pages 20-39.
- Samuel Ligonnière, 2017. "Trilemma, Dilemma and Global Players," Working Papers 2017-15, CEPII research center.
- Samuel Ligonnière, 2018. "Trilemma, dilemma and global players," Post-Print hal-01818022, HAL.
More about this item
Keywords
; ; ;JEL classification:
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- F65 - International Economics - - Economic Impacts of Globalization - - - Finance
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mnb:finrev:v:17:y:2018:i:1:p:5-33. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Morvay Endre The email address of this maintainer does not seem to be valid anymore. Please ask Morvay Endre to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/mnbgvhu.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.