Is there a trade-off between free capital mobility, financial stability and fiscal policy flexibility

Pasquale Foresti, Rosaria Rita Canale, Paul De Grauwe, Oreste Napolitano

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© 2017, The Author(s). This is an open-access article distributed under the terms of the Creative Commons Attribution 4.0 International License (CC-BY 4.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. See
Original languageEnglish
Pages (from-to)177-201
JournalReview of World Economics
Issue number1
Early online date12 Dec 2017
Publication statusPublished - Feb 2018


  • Policy trilemma
  • Eurozone
  • Free capital mobility
  • Fiscal policy
  • Financial stability

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