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The Trilemma: An Empirical Assessment over 35 years since the 1970s
http://hdl.handle.net/10086/17376
http://hdl.handle.net/10086/17376d8313474-55f2-4acd-8c45-97476f305335
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
gd09-069.pdf (697993 bytes)
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| アイテムタイプ | デフォルトアイテムタイプ（フル）その２(1) | |||||||
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| 公開日 | 2017-05-20 | |||||||
| タイトル | ||||||||
| タイトル | The Trilemma: An Empirical Assessment over 35 years since the 1970s | |||||||
| 言語 | en | |||||||
| 作成者 |
Fabien, Durringer
× Fabien, Durringer
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| 寄与者 | ||||||||
| 寄与者タイプ | Editor | |||||||
| 姓名 | 社会科学の高度統計・実証分析拠点構築 = Research Unit for Statistical and Empirical Analysis in Social Sciences | |||||||
| 言語 | en | |||||||
| アクセス権 | ||||||||
| アクセス権 | open access | |||||||
| アクセス権URI | http://purl.org/coar/access_right/c_abf2 | |||||||
| 内容記述 | ||||||||
| 内容記述タイプ | Abstract | |||||||
| 内容記述 | This research provides further insight of trilemma phenomenon which is defined as the impossibility for a country to achieve at the same time the triple desirable goals of stability of its exchange rate, independence of its monetary policy and freedom of its capital flows. Using three indices measuring these three variables, we prove that the trilemma relationship exists provided some extra explanatory variables are added in the econometric fixed-effect model's equation. Conditionality is therefore attached to the existence of the trilemma. Once these results are established we provide some additional analyses of the trilemma phenomenon. First, by introducing the concept of “performance” we show that certain countries are coping better than others facing the trilemma constraint. Second, by using a triangle graph representing the trilemma goals at the vertices, we analyze the tradeoff that countries have adopted over years when dealing with this problem. We manage to show graphically that, rather than positioning themselves to the vertices of this triangle, countries usually adopt positions close to one side of it. These results can therefore be understood as the choice between three “dilemmas” represented by the triangle's sides. | |||||||
| 言語 | en | |||||||
| 出版者 | ||||||||
| 出版者 | Institute of Economic Research, Hitotsubashi University | |||||||
| 日付 | ||||||||
| 日付 | 2009-05 | |||||||
| 日付タイプ | Issued | |||||||
| 言語 | ||||||||
| 言語 | eng | |||||||
| 資源タイプ | ||||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||||
| 資源タイプ | technical report | |||||||
| 出版タイプ | ||||||||
| 出版タイプ | VoR | |||||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||||
| 関連情報 | ||||||||
| 関連タイプ | isPartOf | |||||||
| 関連名称 | Global COE Hi-Stat Discussion Paper Series ; No. 69 | |||||||
| 関連情報 | ||||||||
| 識別子タイプ | URI | |||||||
| 関連識別子 | http://gcoe.ier.hit-u.ac.jp/english/index.html | |||||||
| ページ数 | ||||||||
| ページ数 | 54 | |||||||
| Sponsorship | ||||||||
| 値 | グローバルCOEプログラム = Global COE Program | |||||||
