2007-9-11

Robert Mundell,1932-
A Canadian economist
Professor at Columbia University, won the Nobel Prize in economics for the analysis on the monetary and financial policy under different exchange rate systems and the optimal currency zone in 1999.

Mundell develops the monetary and financial policy to stabilize the economy in the condition of opening economy and establishes the Mundell-Fleming model. He settles the base of monetary and financial policy theory in opening economy, which constitutes the core content of international macroeconomic teaching. The optimal currency zone theory thinks that a single currency can be used in an international zone, and this study settles the theoretical base for the birth of Euro, so that Mundell is regarded as "Father of Euro". In addition, Mundell also contributes a lot into the research on inflation and international trade. The economic policies involved in each theory of Mundell will all influence the energy and environmental policy directly.

Mundell-Fleming Model