<Para ID="Par1">Emerging location-based services in social media tools such as Foursquare and Twitter are providing an unprecedented amount of public-generated data on human movements and activities. This novel data source contains valuable information (e.g., geo-location, time and date, type of places) on...</para>

We assess the empirical validity of the trilemma (or impossible trinity) in the 2000s for a large sample of advanced and emerging economies. To do so, we estimate Taylor-rule type monetary policy reaction functions, relating the local policy rate to real-time forecasts of domestic fundamentals,...