The Classical Model

  • Farrokh K. Langdana


In this chapter, changes in the rate of inflation are finally incorporated into the ISLM-ADAS analysis. This raises the overall level of sophistication of our analysis from Chapter 7 by incorporating a “real world” aggregate supply curve into the ISLM analysis. The stage is also set for an explanation of paradigm shifts between Keynesian and supply-sider models.


Labor Market Interest Rate Monetary Policy Production Function Central Bank 
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Copyright information

© Springer Science+Business Media New York 2002

Authors and Affiliations

  • Farrokh K. Langdana
    • 1
  1. 1.Rutgers Business SchoolUSA

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