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Published in:
1999 | OriginalPaper | Chapter
Brief Survey of the Literature
Author : Prof. Dr. Michael Carlberg
Published in: European Monetary Union
Publisher: Physica-Verlag HD
Included in: Professional Book Archive
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As a starting point take the classic papers by Fleming (1962) and Mundell (1963, 1964, 1968). They discuss monetary and fiscal policy in an open economy characterized by perfect capital mobility. The exchange rate can either be flexible or fixed. They consider both the small open economy and the world economy made up of two large countries.