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Exchange Rate Volatility, Monetary Policy, and Capital Mobility: Empirical Evidence on the Holy Trinity

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NBER1994-01-01 更新2025-01-04 收录
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This paper uses a panel of data from twenty-two countries between 1967 and 1992 to explore the tradeoff between the 'Holy Trinity' of fixed exchange rates, independent monetary policy, and capital mobility. I use: flexible- and sticky-price monetary exchange rate models to parameterize monetary

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1994-01-01
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