The history of the open economy macromodel has been dealt with by only a handful of observers and with varied results. Kenen, for his part, in his masterful survey article of 1985 set the tone for a potential research agenda regarding the detailed history of the model. But his agenda was not taken up by Flanders, who ostensibly ended her study of the development of international monetary economics in the 1960s. Moreover, Mark Blaug, the doyen of the history of economic thought, does not deal with the open economy macromodel at all.This book fills this wide gap in the history of economic thought regarding the open economy macromodel. What has been lacking up to now is a detailed treatment-in comparative perspective-of the origins and development of the respective models and the debates surrounding them. This book redresses that balance.
