IDEAS home Printed from https://ideas.repec.org/a/pal/imfstp/v50y2003i1p1.html
   My bibliography  Save this article

On the Origins of the Fleming-Mundell Model

Author

Listed:
  • James M. Boughton

Abstract

Forty years ago, Marcus Fleming and Robert Mundell developed independent models of macroeconomic policy in open economies. Why do we link the two, and why do we call the result the Mundell-Fleming, rather than Fleming-Mundell model? Copyright 2003, International Monetary Fund

Suggested Citation

  • James M. Boughton, 2003. "On the Origins of the Fleming-Mundell Model," IMF Staff Papers, Palgrave Macmillan, vol. 50(1), pages 1-1.
    • Handle: RePEc:pal:imfstp:v:50:y:2003:i:1:p:1
    as

    Download full text from publisher

    File URL: http://www.imf.org/External/Pubs/FT/staffp/2003/01/pdf/bough.pdf
    File Function: main text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Anonymous, 1962. "International Monetary Fund," International Organization, Cambridge University Press, vol. 16(1), pages 230-231, January.
    2. repec:bla:econom:v:45:y:1978:i:177:p:39-57 is not listed on IDEAS
    3. Kenen, Peter B., 1985. "Macroeconomic theory and policy: How the closed economy was opened," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 13, pages 625-677, Elsevier.
    4. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(1), pages 193-196, January.
    5. Rudiger Dornbusch & Paul Krugman, 1976. "Flexible Exchange Rates in the Short Run," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 7(3), pages 537-584.
    6. S. C. Tsiang, 1975. "The Dynamics of International Capital Flows and Internal and External Balance," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 89(2), pages 195-214.
    7. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, December.
    8. Anonymous, 1957. "International Monetary Fund," International Organization, Cambridge University Press, vol. 11(4), pages 683-686, October.
    9. Robert A. Mundell, 1960. "The Monetary Dynamics of International Adjustment under Fixed and Flexible Exchange Rates," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 74(2), pages 227-257.
    10. Arndt, Sven W, 1973. "Policy Choices in an Open Economy: Some Dynamic Considerations," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 916-935, July-Aug..
    11. repec:bla:scandj:v:79:y:1977:i:4:p:424-41 is not listed on IDEAS
    12. Anonymous, 1962. "International Monetary Fund," International Organization, Cambridge University Press, vol. 16(4), pages 876-878, October.
    13. repec:bla:scandj:v:78:y:1976:i:2:p:146-63 is not listed on IDEAS
    14. Anonymous, 1957. "International Monetary Fund," International Organization, Cambridge University Press, vol. 11(1), pages 176-179, January.
    15. Alfred Steinherr, 1975. "Economic policy in an open economy under alternative exchange rate systems: Effectiveness and stability in the short and long run," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 111(1), pages 24-51, March.
    16. Jacob A. Frenkel & Assaf Razin, 1987. "The Mundell-Flemming Model: A Quarter Century Later," NBER Working Papers 2321, National Bureau of Economic Research, Inc.
    17. Levin, Jay H, 1972. "International Capital Mobility and the Assignment Problem," Oxford Economic Papers, Oxford University Press, vol. 24(1), pages 54-67, March.
    18. Anne O. Krueger, 1965. "The Impact of Alternative Government Policies Under Varying Exchange Systems," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 79(2), pages 195-208.
    19. Edward Tower, 1972. "Monetary and Fiscal Policy in a World of Capital Mobility: a Respecification," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 39(3), pages 251-262.
    20. J. J. Polak, 1957. "Monetary Analysis of Income Formation and Payments Problems," IMF Staff Papers, Palgrave Macmillan, vol. 6(1), pages 1-50, November.
    21. Andrew K. Rose, 2000. "A Review of Some of the Economic Contributions of Robert A. Mundell, Winner of the 1999 Nobel Memorial Prize in Economics," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(2), pages 211-222, June.
    22. Jacob A. Frenkel & Assaf Razin, 1987. "The Mundell-Fleming Model a Quarter Century Later: A Unified Exposition," IMF Staff Papers, Palgrave Macmillan, vol. 34(4), pages 567-620, December.
    23. Baumgarten Klaus, 1985. "An Integrated Portfolio Model of a Small Open Economy, or Fleming-Mundell Revisited," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 200(3), pages 262-297, March.
    24. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(4), pages 872-873, October.
    25. Dornbusch, Rudiger, 1976. "Exchange rate expectations and monetary policy," Journal of International Economics, Elsevier, vol. 6(3), pages 231-244, August.
    26. Alexander K. Swoboda, 1972. "Equilibrium, Quasi-Equilibrium, and Macroeconomic Policy under Fixed Exchange Rates," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 86(1), pages 162-171.
    27. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(4), pages 855-859, October.
    28. Cherneff, R V, 1976. "Policy Conflict and Coordination under Fixed Exchanges: The Case of an Upward Sloping IS Curve," Journal of Finance, American Finance Association, vol. 31(4), pages 1219-1224, September.
    29. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(3), pages 616-621, July.
    30. Anonymous, 1957. "International Monetary Fund," International Organization, Cambridge University Press, vol. 11(3), pages 537-538, July.
    31. Anonymous, 1962. "International Monetary Fund," International Organization, Cambridge University Press, vol. 16(3), pages 619-631, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Joshua Aizenman & Hiro Ito, 2020. "The Political-Economy Trilemma," Open Economies Review, Springer, vol. 31(5), pages 945-975, November.
    2. Yana Valeryevna Dyomina, 2018. "The Effect of Currency Policy on Portfolio Investments in East Asia Countries," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 2, pages 74-91.
    3. Michael Bordo & Tamara Gomes & Lawrence Schembri, 2010. "Canada and the IMF: Trailblazer or Prodigal Son?," Open Economies Review, Springer, vol. 21(2), pages 309-333, April.
    4. Yýlmaz Akyüz, "undated". "Global Rules and Markets: Constraints over Policy Autonomy in Developing Countries," Working Papers 2007/5, Turkish Economic Association.
    5. Mücahid Samet YILMAZ & Mustafa ACAR, 2024. "Balance Sheet Effects of Exchange Rate Changes and Debt Dollarisation: An Econometric Analysis on the Turkish Real Sector," Sosyoekonomi Journal, Sosyoekonomi Society, issue 32(60).
    6. Marko Ðogo & Dragan Gligoriæ & Miloš Grujiæ & Boško Mekinjiæ, 2023. "The impossible trinity of developing countries – the Greek example," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 41(1), pages 271-297.
    7. Singleton,John, 2010. "Central Banking in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521899093, January.
    8. Soós, Károly Attila, 2021. "Az optimális valutaövezet két elmélete - aszimmetrikus sokkok és nemzetközi pénzügyi integráció [Principles of optimal currency areas: asymmetric shocks and international financial integration]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1250-1275.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mr. James M. Boughton, 2002. "On the Origins of the Fleming-Mundell Model," IMF Working Papers 2002/107, International Monetary Fund.
    2. Tarlok Singh, 2007. "Intertemporal Optimizing Models Of Trade And Current Account Balance: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 21(1), pages 25-64, February.
    3. Boyer, Russell S., 2009. "Reflections on Milton Friedman's contributions to open economy money/macro," Journal of International Money and Finance, Elsevier, vol. 28(7), pages 1097-1116, November.
    4. Anne O. Krueger, 1998. "Whither the World Bank and the IMF?," Journal of Economic Literature, American Economic Association, vol. 36(4), pages 1983-2020, December.
    5. Slim, Sadri, 2015. "Un modelo Mundell-Fleming con economía ilegal y lavado de dinero [Modeling illegal economy and money laundering: a Mundell-Fleming framework]," MPRA Paper 64675, University Library of Munich, Germany.
    6. Michael Michaely, 1971. "An Over-all View of Policy Patterns," NBER Chapters, in: The Responsiveness of Demand Policies to Balance of Payments: Postwar Patterns, pages 30-70, National Bureau of Economic Research, Inc.
    7. Phillip Edmund Metaxas & Ernst Juerg Weber, 2016. "An Australian Contribution to International Trade Theory: The Dependent Economy Model," The Economic Record, The Economic Society of Australia, vol. 92(298), pages 464-497, September.
    8. Mr. Luis Ignacio Jácome, 2015. "Central Banking in Latin America: From the Gold Standard to the Golden Years," IMF Working Papers 2015/060, International Monetary Fund.
    9. Maurice Obstfeld, 2001. "International Macroeconomics: Beyond the Mundell-Fleming Model," NBER Working Papers 8369, National Bureau of Economic Research, Inc.
    10. Anthony Makin, 2001. "Macroeconomic policy in an output-expenditure model," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 7(3), pages 337-344, August.
    11. Ilse Mintz, 1967. "Traditional versus Expansionist Views on Export Changes During Business Cycles," NBER Chapters, in: Cyclical Fluctuations in the Exports of the United States since 1879, pages 3-26, National Bureau of Economic Research, Inc.
    12. Javier G. Gómez-Pineda, 2016. "Inflación de costos: las devaluaciones de los años cincuenta y el brote populista de 1963," Borradores de Economia 924, Banco de la Republica de Colombia.
    13. Obstfeld, Maurice, 1980. "Imperfect asset substitutability and monetary policy under fixed exchange rates," Journal of International Economics, Elsevier, vol. 10(2), pages 177-200, May.
    14. Boivin, Jean & Kiley, Michael T. & Mishkin, Frederic S., 2010. "How Has the Monetary Transmission Mechanism Evolved Over Time?," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 8, pages 369-422, Elsevier.
    15. Yiping Huang & Peichu Xie & Jiao Wang, 2014. "International Transmission of the People's Bank of China's Balance Sheet Expansion," Asian Economic Policy Review, Japan Center for Economic Research, vol. 9(2), pages 276-296, July.
    16. Vilma Deltuvaitė & Svatopluk Kapounek & Petr Koráb, 2019. "Impact of Behavioural Attention on the Households Foreign Currency Savings as a Response to the External Macroeconomic Shocks," Prague Economic Papers, Prague University of Economics and Business, vol. 2019(2), pages 155-177.
    17. repec:prg:jnlpep:v:preprint:id:690:p:1-23 is not listed on IDEAS
    18. Darius, Reginald, 2010. "The macroeconomic effects of monetary and fiscal policy in a small open economy: Does the exchange rate regime matter?," Journal of International Money and Finance, Elsevier, vol. 29(8), pages 1508-1528, December.
    19. Thi Bich Ngoc Tran & Hoang Cam Huong Pham, 2020. "The Spillover Effects of the US Unconventional Monetary Policy: New Evidence from Asian Developing Countries," JRFM, MDPI, vol. 13(8), pages 1-26, July.
    20. Jimmy W. Wheeler, 1972. "Domestic Policy and International Exchange Rate Movements, A Review," The American Economist, Sage Publications, vol. 16(2), pages 123-128, October.
    21. Andrew K. Rose, 2000. "A Review of Some of the Economic Contributions of Robert A. Mundell, Winner of the 1999 Nobel Memorial Prize in Economics," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(2), pages 211-222, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:imfstp:v:50:y:2003:i:1:p:1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.