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International Macroeconomics: Beyond the Mundell-Fleming Model

  • Maurice Obstfeld

    (Department of Economics, University of California, Berkeley)

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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File URL: http://econwpa.repec.org/eps/if/papers/0303/0303006.pdf
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Paper provided by EconWPA in its series International Finance with number 0303006.

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Length: 55 pages
Date of creation: 25 Mar 2003
Date of revision:
Handle: RePEc:wpa:wuwpif:0303006
Note: 55 pages, Acrobat .pdf
Contact details of provider: Web page: http://econwpa.repec.org

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  5. Michael B. Devereux & Charles Engel, 2000. "Monetary Policy in the Open Economy Revisited: Price Setting and Exchange Rate Flexibility," NBER Working Papers 7665, National Bureau of Economic Research, Inc.
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  13. Maurice Obstfeld and Alan M. Taylor., 1997. "Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher's Commodity Points Revisited," Center for International and Development Economics Research (CIDER) Working Papers C97-088, University of California at Berkeley.
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