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...

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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
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description 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
doi_str_mv 10.1177/0486613410377621
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ispartof The Review of radical political economics, 2010-09, Vol.42 (3), p.321-326
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source International Bibliography of the Social Sciences (IBSS); Worldwide Political Science Abstracts; SAGE
subjects Aggregate demand
Aggregate supply
Classification
Disputes
Economic models
Economic Theories
Economic theory
Macroeconomic policy
Macroeconomics
Modelling
Supply & demand
title Aggregate Demand-Supply Analysis and Its Critics: An Evaluation of the Controversy
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