The big IS/LM debate - DeLong comes under heavy shelling

The big IS/LM debate - DeLong comes under heavy shelling
The IS/LM model is standard macro textbook stuff. Unfortunately the model is highly problematic and even worse it seems like the IS/LM model (in its most simple form) is the only model that certain policy makers understand. Recently a debate about the IS/LM model has been flaring up. Tyler Cowen first explains what he thinks is wrong with the IS/LM model. Then Keynesian blogger and economist Brad DeLong blogs in defense of the IS/LM model. But DeLong comes under heavy shelling from the Market Monetarist camp: Scott Sumner, Nick Rowe and David Glasner all weigh in on the debate. You tell me who is winning the debate…


WORLD LEADING ADVISORY SPECIALISING IN THIS TOPIC

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