Mundell Economics():International Macroeconomic Models

Author: (Canada) Mundell
Publisher:
Publish Date: 2003-10-01
Features: As humanity enters the 21st century, the trend of economic globalization has increasingly become a significant factor influencing the world economy and the economic development of countries. The macroeconomics of open economies established by Professor Mundell has become an important academic work for economists and government managers to study. However, like other creative ideas, the academic significance and value of Mundell's economics are not limited to its explanation of economic phenomena and its impact on history, but lie in the new inspiration and methods it provides for successors. The third volume contains eight articles on international macroeconomic models, which, together with the papers on the optimal currency area, form the main content of the 1999 Stockholm Nobel Committee's award citation: "They are the core of contemporary macroeconomics." The Nobel Committee devoted a considerable amount of space to discussing the rise of international macroeconomic models—sometimes referred to as the "Mundell-Fleming model."