Empirical Evidence of a New Trilemma
Percic Stanislav () and
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Percic Stanislav: Alexandru Ioan Cuza University of Iaoi, Romania
Ovidius University Annals, Economic Sciences Series, 2013, vol. XIII, issue 1, 1426-1431
The scope of this research paper is to investigate the trade-off which appears when dealing with the “new trilemma” (formed by price stability, financial stability and sovereign debt sustainability) brought forward by Duvvuri Subbarao. More specifically, the paper offers interesting empirical proofs on the existence of trade-off within the “holy trinity” using the Principal Components Analysis (PCA) and confirming the robustness of the results with a cross-country panel OLS regression.
Keywords: trilemma; holy trinity; price stability; financial stability; sovereign debt stability; Principal Components Analysis (search for similar items in EconPapers)
JEL-codes: C31 C38 E31 G21 H63 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:1:p:1426-1431
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