Mundell-Fleming: A Criticism or the Multiplier Liveth
AbstractThe irrelevance of expenditure shocks to nominal product in the Mundell-Fleming model disappears once "real balances" are taken to mean the nominal money stock deflated by the consumer price index, rather than the GDP deflator. Under this alternative definition of real balances there is a government spending multiplier, even in the presence of floating exchange rates and perfect capital mobility.
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Bibliographic InfoPaper provided by Tasmania - Department of Economics in its series Papers with number 1996-04.
Length: 21 pages
Date of creation: 1996
Date of revision:
Contact details of provider:
Postal: UNIVERSITY OF TASMANIA, DEPARTMENT OF ECONOMICS, HOBART TASMANIA 7001 AUSTRALIA.
Phone: +61 3 6226 7672
Fax: +61 3 6226 7587
Web page: http://www.utas.edu.au/economics-finance/
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MONEY; EXCHANGE RATE; NATIONAL INCOME; PRICE INDEXES;
Find related papers by JEL classification:
- E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
- E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
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