Abstract
Mundell is best known for his work creating an open-economy version of the IS–LM model. Its special interest lies in the analysis of monetary and fiscal policy. He emphasized the importance of the speed of adjustment in capital markets and the role of fixed versus flexible exchange rates in determining the impact of policy changes and the determination of a desirable monetary–fiscal policy mix. Mundell has also been influential on optimum currency areas, the effect of inflation on portfolio investment, and trade theory.
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Bibliography
Obstfeld, M. 2001. International macroeconomics: beyond the Mundell–Fleming model. IMF Staff Papers 47(special issue): 1–39.
Royal Swedish Academy of Sciences. 1999. Bank of Sweden Prize in Economic Sciences in Memory of Alfred A. Nobel, 1999. Online. Available at http://nobelprize.org/economics/laureates/1999/ecoback99.pdf. Accessed August 9, 2005.
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Engel, C. (2018). Mundell, Robert (Born 1932). In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2644
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DOI: https://doi.org/10.1057/978-1-349-95189-5_2644
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