Teaching Aggregate Demand and Supply Models
This note analyses the inflation-targeting model that underlies recent textbook expositions of the Aggregate Demand-Aggregate Supply approach used in introductory courses in macroeconomics. The paper 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.
|Date of creation:||Sep 2007|
|Date of revision:||Sep 2007|
|Publication status:||Published by University of Tasmania, School of Economics and Finance working paper put online Sept 3, 2007|
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