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Aggregate Demand-Supply Analysis and Its Critics: An Evaluation of the Controversy

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  • William Scarth

    (McMaster University, Hamilton, ON, Canada, scarth@mcmaster.ca)

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    Abstract

    While acknowledging that the AD-AS model is sometimes applied carelessly, this note defends this analytical framework against charges that it is internally inconsistent, empirically unrealistic, and unable to clarify major controversies in macroeconomic theory and policy. JEL classification: A22, B22, E10

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    Bibliographic Info

    Article provided by Union for Radical Political Economics in its journal Review of Radical Political Economics.

    Volume (Year): 42 (2010)
    Issue (Month): 3 (September)
    Pages: 321-326

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    Handle: RePEc:sae:reorpe:v:42:y:2010:i:3:p:321-326

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    Web page: http://www.urpe.org/

    Related research

    Keywords: intermediate macroeconomics; AD-AS model;

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    Cited by:
    1. Roy H Grieve, 2014. "‘Right Back Where We Started From’: from ‘the Classics’ to Keynes, and back again," Working Papers, University of Strathclyde Business School, Department of Economics 1401, University of Strathclyde Business School, Department of Economics.

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