Chapter 10

Capital Mobility and Exchange Rate Regimes

M.W. Klein

Tufts University, Medford, MA, USA

Outline

Forced to state all of the insights of international macroeconomics while standing on one leg, one could do worse than raise a foot off the ground and say something like “Governments face the policy trilemma – the rest is commentary.” Perhaps an economist with good balance could manage a brief explanation of the three ...

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