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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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  • Maurice Obstfeld, 2001. "International Macroeconomics: Beyond the Mundell-Fleming Model," NBER Working Papers 8369, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:8369
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    JEL classification:

    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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