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The Classical Model

  • Farrokh K. Langdana

Abstract

In this chapter, changes in the rate of inflation are finally incorporated into the ISLM-ADAS analysis. This raises the overall level of sophistication of our analysis from Chapter 7 by incorporating a “real world” aggregate supply curve into the ISLM analysis. The stage is also set for an explanation of paradigm shifts between Keynesian and supply-sider models.

Keywords

Labor Market Interest Rate Monetary Policy Production Function Central Bank 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 2002

Authors and Affiliations

  • Farrokh K. Langdana
    • 1
  1. 1.Rutgers Business SchoolUSA

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