International Channels of Transmission of Monetary Policy and the Mundellian Trilemma
International Channels of Transmission of Monetary Policy and the Mundellian Trilemma
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Publisher
London: Palgrave Macmillan
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Language
English
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Publisher
London: Palgrave Macmillan
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Contents
This lecture argues that the Global Financial Cycle is a challenge for the validity of the Mundellian trilemma. The paper presents evidence that U.S. 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...
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Full title
International Channels of Transmission of Monetary Policy and the Mundellian Trilemma
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TN_cdi_proquest_journals_1788149491
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_1788149491
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ISSN
2041-4161
E-ISSN
2041-417X
DOI
10.1057/imfer.2016.4
