¿Es la Argentina el país donde se cumple el trilema monetario?

Is argentina a contry where the monnetary trilemma applies?

Cristina A. Zarate

MPRA Paper from University Library of Munich, Germany

Abstract: Abstract The monetary trilemma states that it is impossible for a monetary authority to simultaneously have a fixed foreign exchange rate within a context of capital mobility and an independent monetary policy which targets internal objectives. The purpose of this paper is to validate said theory through a model which considers the capital and financial account as a function of the of currency exchange rate, the domestic and international interest rate and the inflation rate. The results show that even if the three objectives are desirable, it is impossible to to meet them simultaneously, in addittion to stating how the Central Bank can overcome this trilemma.

Keywords: Trilema monetario; Política monetaria; tipo de cambio; tasa de interés (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2016-08-01
New Economics Papers: this item is included in nep-mac
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