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International Macroeconomics: Beyond the Mundell-Fleming Model

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  • Maurice Obstfeld

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.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 8369.

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Date of creation: Jul 2001
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Handle: RePEc:nbr:nberwo:8369

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