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Tobinian Stock-Flow Interactions in the Mundell-Fleming Model

In: Asset Markets, Portfolio Choice and Macroeconomic Activity

Author

Listed:
  • Toichiro Asada

    (Chuo University)

  • Peter Flaschel

    (Bielefeld University)

  • Tarik Mouakil

    (University of Cambridge)

  • Christian Proaño

    (The New School for Social Research)

Abstract

In this chapter we approach the issue of stock-flow interaction in open economies through a slightly modified version of the Mundell-Fleming-Tobin (MFT) model of Rødseth (2000). This model considers IS-LM goods market equilibria in place of the sluggish Metzlerian goods market adjustment processes of the KMG model. The Goodwin component will also be missing here since aggregate demand is not made dependent on income distribution (i.e., the Rose real wage channel is also neglected).

Suggested Citation

  • Toichiro Asada & Peter Flaschel & Tarik Mouakil & Christian Proaño, 2011. "Tobinian Stock-Flow Interactions in the Mundell-Fleming Model," Palgrave Macmillan Books, in: Asset Markets, Portfolio Choice and Macroeconomic Activity, chapter 5, pages 93-127, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30777-3_5
    DOI: 10.1057/9780230307773_5
    as

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