The DOI matches its Crossref record; 23 of the 23 references it cites were found in a registry or an index.
The Trilemma in History: Tradeoffs Among Exchange Rates, Monetary Policies, and Capital Mobility
Open accessAbstract
The exchange-rate regime is often seen as constrained by the monetary policy trilemma, which imposes a stark tradeoff among exchange stability, monetary independence, and capital market openness. Yet the trilemma has not gone without challenge. Some argue that under the modern float there could be limited monetary autonomy; others, that even under the classical gold standard domestic monetary autonomy was considerable. This paper studies the coherence of international interest rates over more than 130 years. The constraints implied by the trilemma are largely borne out by history.
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Cited by
The Modern History of Exchange Rate Arrangements: A Reinterpretation
Reinhart, C. M., & Rogoff, K. S. (2004) · The Quarterly Journal of Economics · doi:10.1162/003355304772839515 · Cited by 1,903
Banking Globalization and Monetary Transmission
CETORELLI, N., & GOLDBERG, L. S. (2012) · The Journal of Finance · doi:10.1111/j.1540-6261.2012.01773.x · Cited by 774
International Channels of Transmission of Monetary Policy and the Mundellian Trilemma
Rey, H. (2016) · IMF Economic Review · doi:10.1057/imfer.2016.4 · Cited by 478
Jordà, Ò., Schularick, M., & Taylor, A. M. (2015) · Journal of International Economics · doi:10.1016/j.jinteco.2014.12.011 · Cited by 404
Self-citationU.S. Monetary Policy and International Risk Spillovers
Kalemli-Özcan, Ṣ. (2019) · National Bureau of Economic Research · doi:10.3386/w26297 · Cited by 298
Metadata
- Authors
- Obstfeld, M., Shambaugh, J. C., & Taylor, A. M.
- Venue
- Review of Economics and Statistics
- Publisher
- MIT Press - Journals
- Published
- 2005-08
- Volume
- 87
- Issue
- 3
- Pages
- 423-438
- ISSN
- 0034-6535 (ISSN-L)
- 1530-9142
- OpenAlex
- W2005961387
- Cited by
- 892
- References
- 23
- FWCI
- 30.77
- Type
- journal article
- Language
- en
- Open access
- green
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
