Exchange Rate Regimes, Capital Mobility and the Probability of Monetary Independence in the Caribbean

Author(s): Mitchell, Travis; Bynoe, Ryan; (2008)

Created 28 Jul, 2008
Categories Working Papers
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This paper follows the theoretical approach of Shambaugh (2004) and attempts to investigate the theory of the impossible trinity. According to Mundell and Krugman (1999) a country can choose between two of three monetary policy options: a fixed exchange rate, capital mobility and monetary independence.

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