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.
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© 2002 Springer Science+Business Media New York
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Langdana, F.K. (2002). The Classical Model. In: Macroeconomic Policy. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-3646-5_8
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DOI: https://doi.org/10.1007/978-1-4757-3646-5_8
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4757-3648-9
Online ISBN: 978-1-4757-3646-5
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