What has become known vernacularly as the Mundell-Fleming model is
essentially Fleming's equations combined with Mundell's policy analysis.7 Much
of the analysis, as has often been observed, can be extracted from Meade by a
careful reader,8 but it was not well understood until Mundell presented it clearly
and elegantly. In this observation, there is an analogy with the Keynesian expenditure
multiplier, which was developed first by Richard Kahn (1931) but became
an essential tool for policy analysis only when Keynes embedded it into his
General Theory (1936). Just as the phrase "Keynes-Kahn multiplier" still surfaces
occasionally, various linkages of Meade, Fleming, and Mundell may be found in
the literature but not in the broader professional consciousness.