Last Updated：2025/12/04
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When a small open economy tries to maintain a fixed exchange rate while allowing free capital flows, it often discovers the impossible trinity prevents an independent monetary policy.
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When a small open economy tries to maintain a fixed exchange rate while allowing free capital flows, it often discovers the impossible trinity prevents an independent monetary policy.
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Related words
impossible trinity
Noun
Japanese Meaning
不可能三位一体：固定為替相場、自由な資本移動、独立した金融政策という、同時に実現するのが不可能であるとされる3つの政策条件を指す経済学の概念。
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