Chiarella, Carl; Flaschel, Peter; Franke, Reiner; … - Finance Discipline Group, Business School - 2003
In this paper we reconsider a model of Blanchard and Fisher which reformulated Keynesian IS-LM analysis from the perspective of a richer array of financial assets, namely short-term and long-term bonds, and thus from the perspective of the term structure of interest rates. The basic change in...