IDEAS home Printed from https://ideas.repec.org/p/pcp/pucwps/wp00178.html
   My bibliography  Save this paper

El modelo Mundell-Fleming: una versión intertemporal

Author

Listed:
  • Waldo Mendoza

    () (Departamento de Economía- Pontificia Universidad Católica del Perú)

  • Ricardo Huamán A.
  • Alejandro Olivares R.

    () (Departamento de Economía- Pontificia Universidad Católica del Perú)

Abstract

This paper presents an intertemporal version of the Mundell-Fleming model, with free capital movements and floating exchange rate. The model includes two subsystems, one for each period that allows exchange rate, production, and interest rate expectations to be determined, under perfect foresight, without losing the simplicity and transparency of the comparative static. The connection between the first period and the second period is given according to the expectation that the public makes in the first period about some variables of the second period. These ones, at the same time, are the variables that are determined on the second period. The model allows the identification of the effects of an expected monetary policy in the future (period 2) on the production, exchange rate, and the interest rate in the present (period 1). These results differ from Sargent and Wallace´s proposition (1975), where expected monetary policy has no effects on the economy activity; but these results are like Fischer’s model (1977), where monetary policy, even if it is expected, does have effects on the real variables such as production.

Suggested Citation

  • Waldo Mendoza & Ricardo Huamán A. & Alejandro Olivares R., 2000. "El modelo Mundell-Fleming: una versión intertemporal," Documentos de Trabajo / Working Papers 2000-178, Departamento de Economía - Pontificia Universidad Católica del Perú.
  • Handle: RePEc:pcp:pucwps:wp00178
    as

    Download full text from publisher

    File URL: http://files.pucp.edu.pe/departamento/economia/DDD178.pdf
    Download Restriction: no

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pcp:pucwps:wp00178. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: () or (Thomas Cornelissen). General contact details of provider: http://edirc.repec.org/data/depucpe.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.