Trilemma: The impossible trinity, also called the Mundell-Fleming trilemma or simply the trilemma, expresses the limited options available to countries in setting monetary policy.
by Robert Mundell Nobel Prize for Economics, 1999. Nobel Prize-winning Canadian economist; famous for his contribution into Mundell–Fleming model, Optimum currency areas, Research on the gold standard Robert A. Mundell, in full Robert Alexander Mundell, (born Oct. 24, 1932, Kingston, Ont.,Can. But his other views clearly have been having a widespread impact in the United States. The impossible trinity (also known as the trilemma) is a concept in international economics which states that it is impossible to have all three of the following at the same time: . Mundell’s acceptance speech, A Reconsideration of the Twentieth Century, for the 1999 Nobel Prize in Economics was mainly devoted to a retrospective on the gold standard. But he also has written voluminously on a wide range of other topics. Robert Mundell et Milton Friedman débattent des vertus—ou des vices—des taux de change fixes, de l’étalon … Mundell makes a little mention of “fiscal shocks” in the form of tariffs and domestic tax hikes, but somewhat in passing (two sentences!) The main argument seems to be that gold itself changed value — a variant on the #5 theory that I ascribed to Gustav Cassel, who Mundell mentioned. Mundell's views on gold have gained little acceptance among American policy makers. Editor’s note: Dr. Robert Mundell, the highly influential Columbia University economist, is well-known for his advocacy of a gold component in monetary systems, including circulating gold coinage. Columbia University. Uses and Abuses of Gresham’s Law in the History of Money. Nobel Prize Press Release Updated: 18 Jul 2016, 01:45 AM IST Vivek Dehejia. Needless to say, Mundell’s analysis has also attracted attention in connection with the common European currency.
Robert Mundell. Lecture delivered at St. Vincent College, Letrobe, Pennsylvania, March 12, 1997. Out of respect for Philip M. McKenna, the founder and president of the Gold Standard League, I am going to emphasize gold in the title of my lecture.
Could Gold Make a Comeback? The genius of Robert Mundell 4 min read. Mundell and Johnson then engage in a lot of talk about some sort of “shortage of gold” during the 1920s, which is pretty odd since, if anything, high commodity prices imply a lowish value of gold, which is hardly indicative of a “shortage.” (They argue that the highish prices were actually the cause of the shortage.) Researchers who have examined the economic advantages and disadvantages of EMU have adopted the idea of an optimum currency area as an obvious starting point. Robert Mundell: First of all, let me say Robert Mundell and Milton Friedman debate the virtues—or not—of fixed exchange rates, gold, and a world currency. while his monetary ideas get most of the attention.
Robert A. Mundell.
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