Time to Ditch AD-AS?
AbstractComplementing previous, often ignored criticism of the AD-AS model - to the effect that this widely-used construction is inherently inconsistent - this note argues that a (rare) defence of the model by Peter Kennedy fails to convince and that the model does indeed, as alleged, give rise to confusing and misleading expositions of the working of the macroeconomy. JEL classification: A22, B22, E10.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Union for Radical Political Economics in its journal Review of Radical Political Economics.
Volume (Year): 42 (2010)
Issue (Month): 3 (September)
Contact details of provider:
Web page: http://www.urpe.org/
intermediate macroeconomics; AD-AS model;
Find related papers by JEL classification:
- A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
- B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Roy H Grieve, 2014. "â€˜Right Back Where We Started Fromâ€™: from â€˜the Classicsâ€™ to Keynes, and back again," Working Papers 1401, University of Strathclyde Business School, Department of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (SAGE Publications).
If references are entirely missing, you can add them using this form.