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…With freely mobile international capital movements… most rich countries have fixed exchange rates, as in the euro area

…With freely mobile international capital movements… most rich countries have fixed exchange rates, as in the euro area, …control inflation in other ways. Il teorema della trinità impossibile. Autonomia politica monetaria. Cambio fisso. Perfetta mobilità dei capitali. Regimi di cambio.

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…With freely mobile international capital movements… most rich countries have fixed exchange rates, as in the euro area

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  1. …With freely mobile international capital movements… most rich countries have fixed exchange rates, as in the euro area, …control inflation in other ways.

  2. Il teorema della trinità impossibile Autonomia politica monetaria Cambio fisso Perfetta mobilità dei capitali

  3. Regimi di cambio • Free float • Managed float

  4. 3)Target Zones S +1% -1% t

  5. 4)Crawling peg S 1% 1 t

  6. 5)Crawling band +5% S -5% t

  7. 6)Cambio fisso 7)Currency board 8)Dollarizzazione

  8. LM i LM’ BP A B IS y

  9. mt-pt=Φŷt-ηit Etst+1-st=it-it* Cambio fisso=Ŝ

  10. st Ŝ = Etst+1 = it it * = mt-pt=Φŷt-ηit *

  11. Alessandro Pelloli Juan Perez Riccardo Scotton Ilenia Torri Daniele Uggeri

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