International Macroeconomics: Beyond the Mundell-Fleming Model

56 Pages Posted: 9 Jul 2001 Last revised: 17 Jan 2010

See all articles by Maurice Obstfeld

Maurice Obstfeld

University of California, Berkeley; Peterson Institute for International Economics; National Bureau of Economic Research; Centre for Economic Policy Research

Date Written: July 2001

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.

Suggested Citation

Obstfeld, Maurice, International Macroeconomics: Beyond the Mundell-Fleming Model (July 2001). NBER Working Paper No. w8369. Available at SSRN: https://ssrn.com/abstract=275999

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