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The IS-LM Model

  • Livre Relié
  • 348 Nombre de pages
Explores the rise, the fall, and the persistence of the IS-LM model. This work to presents the papers from the History of Politica... Lire la suite
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Description

Explores the rise, the fall, and the persistence of the IS-LM model. This work to presents the papers from the History of Political Economy conference held at Duke University in April 2003. It includes the text of an address delivered at the conference by Nobel laureate Robert E Lucas Jr.

Texte du rabat

For some twenty-five years after the end of the Second World War, the IS-LM model dominated macroeconomics. Inspired by the work of John Maynard Keynes, this model demonstrates the relationship among savings, income, investments, and interest rates, showing the point at which the interaction of these elements produces "equilibrium" in an economy. With the advent of the new classical macroeconomics in the early 1970s, the dominance of the IS-LM model was effectively challenged. While no longer central to the graduate training of most macroeconomists or to cutting-edge macroeconomic research, the IS-LM model continues to be a mainstay of undergraduate textbooks, to find wide use in applied macroeconomics, and to lie at the conceptual core of most government and commercial macroeconometric models. This volume, the annual supplement to History of Political Economy, explores the rise, the fall, and the persistence of the IS-LM model. In addition to presenting papers from the History of Political Economy conference held at Duke University in April 2003, the volume includes the text of an address delivered at the conference by Nobel laureate Robert E. Lucas Jr., one of the central players in the intellectual movement that dethroned the IS-LM model.

Détails sur le produit

Titre: The IS-LM Model
Sous-titre: Its Rise, Fall, and Strange Persistence
Éditeur:
Code EAN: 9780822366317
ISBN: 978-0-8223-6631-7
Format: Livre Relié
Editeur: Duke University Press
Genre: Sciences politiques
nombre de pages: 348
Poids: 644g
Taille: H238mm x B169mm x T29mm
Année: 2005