Trilemma redux: New evidence from emerging market economies by Maurice Obstfeld, Jonathan D. Ostry, Mahvash S. Qureshi published by VOXEU (8/2017). “The synchronous rise and fall of cross-border capital flows, domestic credit, and asset prices across countries has raised questions about the relevance of the exchange rate regime in a world of high capital mobility. This column presents evidence from emerging market economies…”
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