Hélène Rey on macro-financial distortions and ‘phase 2’ of Covid-19

Hélène Rey
Hélène Rey
Photo: Ryan Rayburn/IMF

You are perhaps best known for your Dilemma not trilemma paper.1 Can you explain how that work came about?

It was a paper I wrote for the Jackson Hole symposium in 2013. I had been doing research for quite a while on international capital flows, and their interrelation with asset prices and valuation effects. I had studied the external account of the US in detail, for example, together with Pierre-Olivier Gourinchas. So, I had already been interested in trying to understand international

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: