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Keynes’s Equations and Early Post-General Theory IS-LM Models

Warren Young () and Edward W. Fuller ()
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Warren Young: Bar Ilan University

Chapter Chapter 6 in Reinterpreting Mr. Keynes, 2022, pp 117-134 from Springer

Abstract: Abstract This chapter covers the IS-LMIS-LM papers that emerged after the publication of the General Theory. The evidence indicates that Keynes warmly endorsed the IS-LM approach to his theory; he never rejected it. It is shown that Lange’sLange, Oskar IS-LM paper was foundational for the main figures of the Neoclassical Synthesis, including SamuelsonSamuelson, Paul A., ModiglianiModigliani, Franco, and KleinKlein, Lawrence R.. All of the early IS-LM papers can be traced to Keynes’s own IS-LM model of December 4, 1933.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-030-91342-7_6

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DOI: 10.1007/978-3-030-91342-7_6

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