NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

International Macroeconomics: Beyond the Mundell-Fleming Model

Maurice Obstfeld

NBER Working Paper No. 8369
Issued in July 2001
NBER Program(s):   EFG   IFM

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.

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Document Object Identifier (DOI): 10.3386/w8369

Published: Obstfeld, Maurice. "International Macroeconomics: Beyond the Mundell-Fleming Model." International Monetary Fund Staff Papers. Special Issue, 2001.

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