12/8/2023 If interest rates increase, the value of a fixed income contract decreases and vice versaRead Now![]() Whereas the traditional IS-LM model deals with economy under autarky (or a closed economy), the Mundell–Fleming model describes a small open economy. The model is an extension of the IS–LM model. ![]() The Mundell–Fleming model, also known as the IS-LM-BoP model (or IS-LM-BP model), is an economic model first set forth (independently) by Robert Mundell and Marcus Fleming.
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