Most of the chapters in Mundell's International Economics differ, owing to adaptation, from the original sources. The revisions yield valuable insights into the contributions made by the initial publications. In this paper we look only at the changes that take the form of elisions of material....

Most of the chapters in Mundell's International Economics differ, owing to adaptation, from the original sources. The revisions yield valuable insights into the contributions made by the initial publications. In this paper we look only at the changes that take the form of elisions of material....

Friedman's central contributions to open economy macroeconomics are contained in his essay "The Case for Flexible Exchange Rates." The paper describes equilibrium in an open economy in terms of the flow market for domestic currency, and so presents the basic elements of The Monetary Approach to...