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Open-Economy Macroeconomics: Theory without Evidence

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Economics in a Changing World

Part of the book series: International Economic Association Series ((IEA))

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Abstract

This chapter begins by taking a quick look at the simple monetary model, which arguably gives a reasonable description of a small open economy and puts most of the basic ideas into focus. Then, I shall show how the basic Mundell—Fleming (MF) model of the open economy has been developed over the last few years and give my assessment of the current state of play.

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Authors and Affiliations

  1. Kleinwort Benson Securities, University of Strathclyde, UK

    Peter Spencer

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  1. Peter Spencer
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Editors and Affiliations

  1. Pontificia Universidade Catolica do Rio de Janeiro, Brazil

    Edmar L. Bacha

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© 1994 International Economic Association

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Spencer, P. (1994). Open-Economy Macroeconomics: Theory without Evidence. In: Bacha, E.L. (eds) Economics in a Changing World. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-23458-5_4

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