Abstract
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.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2009 Springer Science+Business Media, LLC
About this chapter
Cite this chapter
Langdana, F.K. (2009). The Classical Model. In: Macroeconomic Policy. Springer, Boston, MA. https://doi.org/10.1007/978-0-387-77666-8_8
Download citation
DOI: https://doi.org/10.1007/978-0-387-77666-8_8
Publisher Name: Springer, Boston, MA
Print ISBN: 978-0-387-77665-1
Online ISBN: 978-0-387-77666-8
eBook Packages: Business and EconomicsEconomics and Finance (R0)