Economic Essays
Exchange Rate Policy Beyond the Trilemma
View Document
Exchange Rate Policy Beyond the Trilemma
(292.7 KB)
By Dmitry Mukhin
This essay discusses how financial market frictions, foreign exchange intervention and fiscal policy shape the optimal design of exchange rates in open economies. The views expressed herein are those of the author and should not be attributed to MAS.
This essay discusses how financial market frictions, foreign exchange intervention and fiscal policy shape the optimal design of exchange rates in open economies. The views expressed herein are those of the author and should not be attributed to MAS.
Related Publications
-
Economic EssaysPublished Date: 12 November 2025
Proceedings of the 2025 Asian Monetary Policy Forum
This paper provides the full proceedings of the 12th Asian Monetary Policy Forum held over 22–23 May 2025. The views expressed herein are the author’s and should not be attributed to the Monetary Authority of Singapore.
-
Economic EssaysPublished Date: 28 April 2025
Why is the World Addicted to Debt?
This study by Atif Mian was published as Special Feature A in the April 2025 Macroeconomic Review.
-
Economic EssaysPublished Date: 28 October 2024
Globalisation is Not Dying, It’s Just Changing
This study by Tang Heiwai was published as Special Feature C in the October 2024 Macroeconomic Review.