Showing posts with label John Marcus Fleming; Robert Mundell; monetary policy. Show all posts
Showing posts with label John Marcus Fleming; Robert Mundell; monetary policy. Show all posts

Thursday, January 08, 2026

Trilemma of monetary policy by John Fleming and Robert Mundell

 The country cannot have all three of the policies

  • full and complete openness to global capital flows
  • a fixed exchange rate; and
  • independent monetary polices geared toward domestic objectives

This is the theoretical basis for Bretton Woods system