In defence of IS-LM

Don Patinkin

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Economic Theory and Policy Monetary Policy and Economic Impact Economic theories and models

Abstract

The author offers a defence of the IS-LM diagram, first developed by Hicks and recently criticised by some as a misleading analytical device. JEL: E12

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2002Don Patinkin: interpreter of the Keynesian revolution 2002Skidelsky's Keynes: a review essay 2000Policy Effectiveness and the Slopes of "IS" and "LM" Curves: A Graphical Analysis

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