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Aizenman Econ Modelling_3_2018.pdf

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Forthcoming, Economic Modelling March 2018 A modern reincarnation of Mundell-Fleming's Trilemma Joshua Aizenman* USC and the NBER Abstract A modern incarnation of the trilemma is essential for understanding the evolving global financial architecture, and for coming up with ways to mitigate financial fragility. The scarcity of policy instruments relative to the policy goals implies…

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