International Macroeconomics: Beyond the Mundell-Fleming Model

Maurice Obstfeld

Department of Economics, Working Paper Series from Department of Economics, Institute for Business and Economic Research, UC Berkeley

Abstract: This lecture presents a broad overview of postwar analytical thinking on international macroeconomics, culminating in a more detailed discussion of very recent progress. Along the way, it reviews important empirical evidence that has inspired alternative modeling approaches, as well as theoretical and policy considerations behind developments in the field. The most recent advances in model building center on the "new open economy macroeconomics," which synthesizes Keynesian nominal rigidities, intertemporal approaches to open economy dynamics, and the effects of market structure on international trade.

Keywords: New open economy macroeconomics; exchange rates; pricing to market (search for similar items in EconPapers)
Date: 2001-07-01
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Citations: View citations in EconPapers (138)

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