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Teaching the Short-Run Aggregate Supply Curve in Introductory Economics

Hess, Peter N. - 2006

Consistency in the development and presentation of the aggregate demand-aggregate supply model in introductory economics is crucial. Logical consistency requires drawing on the underlying microeconomic fundamentals, especially for distinguishing between 'movements along' and 'shifts in' the...

Persistent link: https://www.econbiz.de/10014056342

The Output Gap, Expected Future Inflation and Inflation Dynamics : Another Look

Mehra, Yash P. - 2012

The empirical test of the output gap-based New Keynesian Phillips curve often has been implemented by estimating a hybrid specification that includes both lagged and future inflation and then by examining whether the estimated coefficient on future inflation is significantly larger than the one...

Persistent link: https://www.econbiz.de/10013097078

Comment : The Nature of the ADAS Model Based on the ISLM Model

Boyd, Derick - 2010

Rao suggests that the Rowan demand curve does not exist but that result is obtained through treating the system as a simultaneous equation problem that will inevitably obtain the standard aggregate demand (AD) result. The Rowan procedure is a conditional function that makes planned AD...

Persistent link: https://www.econbiz.de/10013144069

Keynes's Z Function, Heterogeneous Output and Marginal Productivity

Hayes, M. G. - 2010

Keynes was adamant that the assumption of homogeneous output and capital in macroeconomic theory is inadmissable. His … Keynes's desire to demonstrate how his general monetary theory of value and output encompasses the special case of Classical … theory, including the marginal productivity theorem. The infamous second footnote on pages 55-6 of The General Theory can …

Persistent link: https://www.econbiz.de/10012716484

Dotted Analysis - Using Rates of Change in Aggregate Supply and Demand

Kvaran, Hannes - 2004

Macro instruction in general, and the aggregate supply and demand model in particular, can be made more descriptive and more relevant by using a variety of variables in their rate of change forms. This shifts the discussion away from the levels of the price index, GDP and the money supply and...

Persistent link: https://www.econbiz.de/10014072130

A model for AS-AD analysis based on input-output frame

Liu, Xinjian - In: Modern economy 2 (2011) 3, pp. 203-212

Persistent link: https://www.econbiz.de/10009532441

Economic expansion and the balance of trade : the role of aggregate demand elasticity

Kyer, Ben L.; Maggs, Gary E. - In: The American economist : journal of Omnicron Delta … 59 (2014) 2, pp. 176-181

Persistent link: https://www.econbiz.de/10011283960

Reconciling facts with fiction : minimum wages in a post-Keynesian perspective

Heise, Arne - 2017

There has long been a discussion about the employment impact of minimum wages and this discussion has recently been renewed with the introduction of an economy-wide, binding minimum wage in Germany in 2015. In traditional reasoning, based on the allocational approach of modern labour market...

Persistent link: https://www.econbiz.de/10011704311

Some short-run macroeconomic considerations as society deals with a once-in-generations pandemic

Razmi, Arslan - 2020

COVID-19 constitutes a health crisis which has rapidly turned into a social and economic crisis. This paper briefl y explores some of the issues raised by the combination of a massive supply-side shock with a massive demand-side shock, and the interaction of these with the exponential dynamics...

Persistent link: https://www.econbiz.de/10012216012

A short-run Keynesian model of the COVID-19 recession for Econ 101

Hess, Peter N. - In: Advances in economics education 1 (2022), pp. 48-65

Persistent link: https://www.econbiz.de/10014535199

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