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Comment: The nature of the ADAS model based on the ISLM model

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Rao suggests that the Rowan demand curve does not exist but that result is obtained through treating the system as a simultaneous equation problem that will inevitably obtain the standard aggregate demand (AD) result. The Rowan procedure is a conditional function that makes planned AD conditional on planned aggregate supply (AS)--a quintessential Keynesian process. This results in an AS-dependent AD curve that is upward sloping. This system can be shown to be stable, have a firm connection to measures of national income accounting without dependence on notions of equilibrium and implications for econometric estimations. Copyright The Author 2009. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.

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  • Derick Boyd, 2010. "Comment: The nature of the ADAS model based on the ISLM model," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 34(3), pages 587-590.
    • Handle: RePEc:oup:cambje:v:34:y:2010:i:3:p:587-590
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    Cited by:

    1. Mafusire Albert & Brixiova Zuzana, 2013. "Macroeconomic Shock Synchronization in the East African Community," Global Economy Journal, De Gruyter, vol. 13(2), pages 261-280, July.
    2. Albert Mafusire & Zuzana Brixiova, 2012. "Working Paper 156 - Macroeconomic Shock Synchronization in the East African Community," Working Paper Series 432, African Development Bank.

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