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A Note On Lags And The Assignment Problem

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  • Lapan, Harvey
  • Enders, Walter

Abstract

Mundell (1962) demonstrated that monetary policy should be paired with external balance and fiscal policy with internal balance. This seminal article led to a voluminous literature^ which attempted to rectify many of the problems inherent in Mundell's flow equilibrium model. Harry Johnson (1972) has characterized this extension of Mundell's work as having lent itself to almost Infinite mathematical product differentiation, with little significant improvement in quality of economic product..." Although we do not fully agree with Harry Johnson--for there are many deficiencies in Mundell'a model-- we do believe that more can be said concerning the "Assignment Problem" in the context of Mundell's model.

Suggested Citation

  • Lapan, Harvey & Enders, Walter, 1975. "A Note On Lags And The Assignment Problem," ISU General Staff Papers 197508010700001018, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:197508010700001018
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    References listed on IDEAS

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    1. S. C. Tsiang, 1975. "The Dynamics of International Capital Flows and Internal and External Balance," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 89(2), pages 195-214.
    2. Levin, Jay H, 1972. "International Capital Mobility and the Assignment Problem," Oxford Economic Papers, Oxford University Press, vol. 24(1), pages 54-67, March.
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