Like the flexible price monetary model and the sticky price monetary model of Dornbusch (1976) that in some sense bridges the Mundell-Fleming model to the monetary approach, empirical evidence on the portfolio balance approach is mixed
Like the flexible price monetary model and the sticky price monetary model of Dornbusch (1976) that in some sense bridges the Mundell-Fleming model to the monetary approach, empirical evidence on the portfolio balance approach is mixed