The Keynesian Model

Farrokh K. Langdana
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Farrokh K. Langdana: Rutgers University–Newark and New Brunswick

Chapter Chapter 9 in Macroeconomic Policy, 2022, pp 201-238 from Springer

Abstract: Abstract In Cambridge, England, as you walk up King’s Parade keeping that late-medieval architectural gem, King’s College Chapel, to your right, you will come to a fairly nondescript lane known as King’s Lane. It is not prominently marked; one could easily miss it. Leave the crowds behind by taking a right and turn down King’s Lane, keeping King’s College to the right. The lane ends in a sharp left to form an elbow where Queen’s Lane begins. At this elbow in the lane, look up to your right at the row of windows located directly above a (usually locked) gateway into King’s College. These windows belong to the room where macroeconomic history was made—Keynes’ office at King’s College in Cambridge University. Welcome to the macroeconomic model that changed Macroeconomics. Welcome to Keynesian ISLMADAS.

Date: 2022
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DOI: 10.1007/978-3-030-92058-6_9

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