The Tradeoffs of Macroeconomic Arrangements in Korea with Constraint of Impossible Trinity

摘要：

　　The goal of this paper is to examine the properties of tradeoffs relationship between macroeconomic mixture in Korea with trilemma framework.This paper tests the theoretical concept of a trilemma supported by Mundell and Flemming(1962, 1963)for the case of Korea.we construct trilemma indices and apply MA process of error.We apply non-linear variables in traditional linear regression to tests for it.Our research analyzes the role of the foreign reserve and foreign debt to the stability of macroeconomic arrangement with VAR model.The results present high growth rate of foreign reserve contributes to lessen the stability of macroeconomic arrangements and its effect to stability remains until three quarters.

关键词： Trilemma Monetary sovereignty Exchange rate Capital openness linear regression MA process VAR

作者: Jeongwoo Moon Hyunsok Kim

作者单位: Department of Economics, Pusan National University

会议类型: 国际会议

会议名称: The 12th International Conference on the Regional Innovation and Cooperation in Asia ( 第12届区域合作与创新国际学术研讨会)

会议地点: 广州

会议语种:英文

页码: 157-179

在线出版日期: 2017-11-23（万方平台首次上网日期，不代表论文的发表时间）