Time to ditch ADAS?

R.H. Grieve

Research output: Contribution to journalArticle

Abstract

Complementing previous, often ignored criticism of the AD-AS model - to the effect that this widely-used construction is inherently inconsistent - this note argues that a (rare) defence of the model by Peter Kennedy fails to convince and that the model does indeed, as alleged, give rise to confusing and misleading expositions of the working of the macroeconomy.
Original languageEnglish
Pages (from-to)315-320
Number of pages5
JournalReview of Radical Political Economics
Volume42
DOIs
Publication statusPublished - Sep 2010

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Keywords

  • intermediate macroeconomics
  • AD-AS model

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