Arbeitspapier
Teaching New Keynesian Open Economy Macroeconomics at the Intermediate Level
For the open economy the workhorse model in intermediate textbooks still is the Mundell-Fleming model, which basically extends the IS-LM model to open economy problems. The purpose of this paper is to present a simple New Keynesian model of the open economy, that introduces open economy considerations into the closed economy consensus version and that still allows for a simple and comprehensible analytical and graphical treatment. Above all, our model provides an efficient tool kit for the discussion of the costs and benefits of fixed and flexible exchange rates, which also was at the core of the Mundell-Fleming model.
- Sprache
-
Englisch
- Erschienen in
-
Series: W.E.P. - Würzburg Economic Papers ; No. 66
- Klassifikation
-
Wirtschaft
Open Economy Macroeconomics
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
General Aggregative Models: General
Economic Education and Teaching of Economics: General
- Thema
-
open economy
inflation targeting
monetary policy rules
New Keynesian macroeconomics
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bofinger, Peter
Mayer, Eric
Wollmershäuser, Timo
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Würzburg, Department of Economics
- (wo)
-
Würzburg
- (wann)
-
2006
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bofinger, Peter
- Mayer, Eric
- Wollmershäuser, Timo
- University of Würzburg, Department of Economics
Entstanden
- 2006
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