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Title The Open-Economy Trilemma in the Long Run
Author Barry Eichengreen (University of California)
Volume 34 Number 1
Pages 5-28 
Keywords Exchange Rates, Capital Controls, Monetary Autonomy, Trilemma
Abstract This paper extends the literature on the open-economy trilemma by developing a
consistent set of indicators of exchange rate stability, monetary autonomy and capitalaccount
openness for a large sample of countries, starting in 1890 and extending into the
second decade of the 21st century. Analysis of these indicators confirms stylized facts in the
literature on international monetary and financial history and is consistent with the
trilemma paradigm.
File KER-20180101-34-1-01.pdf
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