Time to Ditch AD-AS?

Roy H. Grieve
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Roy H. Grieve: University of Strathclyde, Glasgow, Scotland, roygrieve@btinternet.com

Review of Radical Political Economics, 2010, vol. 42, issue 3, 315-320

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. JEL classification: A22, B22, E10.

Keywords: intermediate macroeconomics; AD-AS model (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:42:y:2010:i:3:p:315-320

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