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 language | English |
|---|---|
| Pages (from-to) | 315-320 |
| Number of pages | 5 |
| Journal | Review of Radical Political Economics |
| Volume | 42 |
| DOIs | |
| Publication status | Published - Sept 2010 |
Keywords
- intermediate macroeconomics
- AD-AS model