Aizenman, Joshua; Chinna, Menzie D.; Ito, Hiro - East Asian Bureau of Economic Research (EABER) - 2010
investigate how trilemma policy configurations affect the output performance of the economies under severe crisis situations … openness while holding a massive amount of IR. We also find that the crisis economies could end up with smaller output losses … if they entered the crisis situation with more stable exchange rates or if they continue to hold a high level of IR and …