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Eine Fehlinterpretation des Keynesianischen Modells

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  • Felderer, Bernhard
  • Homburg, Stefan

Abstract

In our paper we have shown that, avoiding logical inconsistencies, one cannot interpret the IS-curve as an equilibrium locus for the goods market. In the neoclassical synthesis the goods market is depicted by the AD/AS-diagram and, therefore, it cannot be represented by the IS-curve simultaneously. Concerning the pure IS/LM-model, only the point of intersection of the IS and LM curves defines an equilibrium in the goods market, not the IS-curve itself. Beyond that, this is an equilibrium only on the condition that prices are fixed. These inconsistencies are avoided by interpreting the IS-curve as an equilibrium locus for the capital market. -- In der Arbeit wird gezeigt, daß man die IS-Kurve nicht als Ausdruck eines Gütennarkt-Gleichgewichtes interpretieren kann, wenn man logische Widersprüche vermeiden will. Denn im Modell der Neoklassischen Synthese wird der Gütermarkt durch das AD/AS-Schema abgebildet; er kann deshalb nicht gleichzeitig durch die IS-Kurve angegeben werden. Im reinen IS/LM-Modell dagegen definiert nur der Schnittpunkt der IS- mit der LM-Kurve ein Gütermarkt-Gleichgewicht, nicht die IS-Kurve allein. Darüber hinaus besteht dieses Gleichgewicht nur bei angenommener Preisstarrheit. Fasst man die IS-Kurve jedoch als Gleichgewichtskurve des Kapitalmarktes auf, lassen sich die besagten Widersprüche beheben.

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Bibliographic Info

Article provided by ZBW - German National Library of Economics in its journal EconStor Open Access Articles.

Volume (Year): (1986)
Issue (Month): ()
Pages: 457-468

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Handle: RePEc:zbw:espost:92899

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Related research

Keywords: Neoclassical synthesis; Commodity market;

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References

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  1. Rabin, Alan & Birch, Dan, 1982. "A clarification of the IS curve and the aggregate demand curve," Journal of Macroeconomics, Elsevier, vol. 4(2), pages 233-238.
  2. Felderer, Bernhard & Homburg, Stefan, 2005. "Makroökonomik und neue Makroökonomik," EconStor Books, ZBW - German National Library of Economics, number 92556.
  3. Homburg, Stefan, 1984. "Das Walras-Gesetz bei Mengenrestriktionen," EconStor Open Access Articles, ZBW - German National Library of Economics, pages 179-183.
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Cited by:
  1. Hansjoerg Klausinger, 2000. "Walras' Law and the IS-LM Model. A Tale of Progress and Regress," Department of Economics Working Papers wuwp069, Vienna University of Economics, Department of Economics.

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