John Marcus Fleming (1911 – 3 February 1976) was a British economist. He was the deputy director of the research department of the
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...
for many years; he was already a member of this department during the period of Canadian economist
Robert Mundell
Robert Alexander Mundell (October 24, 1932 – April 4, 2021) was a Canadian economist. He was a professor of economics at Columbia University and the Chinese University of Hong Kong.
He received the Nobel Memorial Prize in Economic Sciences i ...
's affiliation. At approximately the same time as Mundell, Fleming presented similar research on
stabilization policy in open economies. As a result, today's textbooks refer to the
Mundell–Fleming 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. Reprinted in Reprinted in The model is an extension of the IS–LM mo ...
. Mundell's contribution, which assumes perfect rather than imperfect capital mobility is, however, considered more important due to its depth, range, and analytical power, and more applicable to today's conditions.
He was educated at Bathgate Academy and the
University of Edinburgh
The University of Edinburgh ( sco, University o Edinburgh, gd, Oilthigh Dhùn Èideann; abbreviated as ''Edin.'' in post-nominals) is a public research university based in Edinburgh, Scotland. Granted a royal charter by King James VI in 15 ...
, the
Graduate Institute of International Studies
Graduate may refer to:
Education
* The subject of a graduation, i.e. someone awarded an academic degree
** Alumnus, a former student who has either attended or graduated from an institution
* High school graduate, someone who has completed hi ...
in Geneva, and the London School of Economics.
Publications
*''Dual exchange market and other remedies for disruptive capital flows'', IMF Staff Papers, March 1974.
External links
*
The Royal Swedish Academy of Sciences has decided to award the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, 1999 to Professor Robert A. Mundell* Reprinted in
*
1911 births
1976 deaths
People educated at Bathgate Academy
Alumni of the University of Edinburgh
Graduate Institute of International and Development Studies alumni
20th-century British economists
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