Teaching Aggregate Demand and Supply Models
The author analyzes the inflation-targeting model that underlies recent textbook expositions of the aggregate demand--aggregate supply approach used in introductory courses in macroeconomics. He shows how numerical simulations of a model with inflation inertia can be used as a tool to help students understand adjustments in response to demand and supply shocks of various kinds.
Volume (Year): 41 (2010)
Issue (Month): 1 (January)
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