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On the Origins of the Fleming-Mundell Model

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  • Mr. James M. Boughton

Abstract

Forty years ago, Marcus Fleming and Robert Mundell developed independent models of macroeconomic policy in open economies. Why do we link the two, and why do we call the result the Mundell-Fleming, rather than Fleming-Mundell model?

Suggested Citation

  • Mr. James M. Boughton, 2002. "On the Origins of the Fleming-Mundell Model," IMF Working Papers 2002/107, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2002/107
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    References listed on IDEAS

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    1. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, December.
    2. Robert A. Mundell, 1960. "The Monetary Dynamics of International Adjustment under Fixed and Flexible Exchange Rates," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 74(2), pages 227-257.
    3. repec:bla:scandj:v:78:y:1976:i:2:p:146-63 is not listed on IDEAS
    4. Andrew K. Rose, 2000. "A Review of Some of the Economic Contributions of Robert A. Mundell, Winner of the 1999 Nobel Memorial Prize in Economics," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(2), pages 211-222, June.
    5. Jacob A. Frenkel & Assaf Razin, 1987. "The Mundell-Fleming Model a Quarter Century Later: A Unified Exposition," IMF Staff Papers, Palgrave Macmillan, vol. 34(4), pages 567-620, December.
    6. Baumgarten Klaus, 1985. "An Integrated Portfolio Model of a Small Open Economy, or Fleming-Mundell Revisited," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 200(3), pages 262-297, March.
    7. repec:bla:econom:v:45:y:1978:i:177:p:39-57 is not listed on IDEAS
    8. Kenen, Peter B., 1985. "Macroeconomic theory and policy: How the closed economy was opened," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 13, pages 625-677, Elsevier.
    9. Rudiger Dornbusch & Paul Krugman, 1976. "Flexible Exchange Rates in the Short Run," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 7(3), pages 537-584.
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    11. Arndt, Sven W, 1973. "Policy Choices in an Open Economy: Some Dynamic Considerations," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 916-935, July-Aug..
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    13. Alfred Steinherr, 1975. "Economic policy in an open economy under alternative exchange rate systems: Effectiveness and stability in the short and long run," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 111(1), pages 24-51, March.
    14. Levin, Jay H, 1972. "International Capital Mobility and the Assignment Problem," Oxford Economic Papers, Oxford University Press, vol. 24(1), pages 54-67, March.
    15. Anne O. Krueger, 1965. "The Impact of Alternative Government Policies Under Varying Exchange Systems," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 79(2), pages 195-208.
    16. Edward Tower, 1972. "Monetary and Fiscal Policy in a World of Capital Mobility: a Respecification," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 39(3), pages 251-262.
    17. J. J. Polak, 1957. "Monetary Analysis of Income Formation and Payments Problems," IMF Staff Papers, Palgrave Macmillan, vol. 6(1), pages 1-50, November.
    18. Alexander K. Swoboda, 1972. "Equilibrium, Quasi-Equilibrium, and Macroeconomic Policy under Fixed Exchange Rates," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 86(1), pages 162-171.
    19. Cherneff, R V, 1976. "Policy Conflict and Coordination under Fixed Exchanges: The Case of an Upward Sloping IS Curve," Journal of Finance, American Finance Association, vol. 31(4), pages 1219-1224, September.
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    Cited by:

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