The Open-Economy Trilemma in the Long Run

Barry Eichengreen

Korean Economic Review, 2018, vol. 34, 5-28

Abstract: This paper extends the literature on the open-economy trilemma by developing a consistent set of indicators of exchange rate stability, monetary autonomy and capitalaccount openness for a large sample of countries, starting in 1890 and extending into the second decade of the 21st century. Analysis of these indicators confirms stylized facts in the literature on international monetary and financial history and is consistent with the trilemma paradigm

Keywords: Exchange Rates; Capital Controls; Monetary Autonomy; Trilemma (search for similar items in EconPapers)
JEL-codes: F00 F31 F36 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (2)

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