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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP11027 |
DP11027 International Channels of Transmission of Monetary Policy and the Mundellian Trilemma | |
Helene Rey | |
发表日期 | 2015-12-27 |
出版年 | 2015 |
语种 | 英语 |
摘要 | This lecture argues that the Global Financial Cycle is a challenge for the validity of the Mundellian trilemma. I present evidence that US monetary policy shocks are transmitted internationally and affect financial conditions even in inflation targeting economies with large financial markets. Hence flexible exchange rates are not enough to guarantee monetary autonomy in a world of large capital flows. |
主题 | Financial Economics ; International Macroeconomics and Finance ; Monetary Economics and Fluctuations |
关键词 | Global financial cycle monetary policy Trilemma |
URL | https://cepr.org/publications/dp11027 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539856 |
推荐引用方式 GB/T 7714 | Helene Rey. DP11027 International Channels of Transmission of Monetary Policy and the Mundellian Trilemma. 2015. |
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