RBA's Debelle backs Mundell-Fleming model
Guy Debelle, assistant governor at the Reserve Bank of Australia, has delivered a critique of a new paper that defends the use of capital controls to keep exchange rates in line with fundamentals – saying the paper "does not convince me of their claim to abandon that long-time stalwart, the Mundell-Fleming model".
Debelle was speaking at the IMF's annual research conference last week, and responding to a paper entitled Dilemma not Trilemma? Capital Controls and Exchange Rates with Volatile
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