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| Author: | Obstfeld, M. |
| Title: | International macroeconomics: beyond the Mundell-Fleming model |
| Journal: | IMF Staff papers
2001 : VOL. 47, special issue, p. 1-39 |
| Index terms: | Macroeconomics Macroeconomic models Open economy |
| Language: | eng |
| Abstract: | The paper presents a broad overview of postwar analytical thinking on international macroeconomics, culminating an 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, and the effects of market structure on international trade. |
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