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

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, B2...

Full description

Saved in:
Bibliographic Details
Published in:The Review of radical political economics 2010-09, Vol.42 (3), p.321-326
Main Author: Scarth, William
Format: Article
Language:English
Subjects:
Aggregate demand
Aggregate supply
Classification
Disputes
Economic models
Economic Theories
Economic theory
Macroeconomic policy
Macroeconomics
Modelling
Supply & demand
Citations: Items that this one cites
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary: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
ISSN:0486-6134
1552-8502
DOI:10.1177/0486613410377621