Mundell-Fleming Model
(Sprache: Englisch)
The Mundell-Fleming model is an economic model first set forth by Robert Mundell and Marcus Fleming. The model is an extension of the IS-LM model. Whereas IS-LM deals with economy under autarky, the Mundell-Fleming model tries to describe an open economy....
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The Mundell-Fleming model is an economic model first set forth by Robert Mundell and Marcus Fleming. The model is an extension of the IS-LM model. Whereas IS-LM deals with economy under autarky, the Mundell-Fleming model tries to describe an open economy. Typically, the Mundell-Fleming model portrays the relationship between the nominal exchange rate and an economy's output (unlike the relationship between interest rate and the output in the IS-LM model) in the short run. The Mundell-Fleming model has been used to argue that an economy cannot simultaneously maintain a fixed exchange rate, free capital movement, and an independent monetary policy. This principle is frequently called "the Unholy Trinity," the "Irreconcilable Trinity," the "Inconsistent trinity" or the Mundell-Fleming "trilemma."
Bibliographische Angaben
- 2010, 84 Seiten, Kartoniert (TB), Englisch
- Herausgegeben von Miller, Frederic P.; Vandome, Agnes F.; McBrewster, John
- Verlag: Alphascript Publishing
- ISBN-10: 6130618026
- ISBN-13: 9786130618025
Sprache:
Englisch
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