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Aggregate Demand-Supply Analysis and Its Critics: An Evaluation of the Controversy

Author

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  • William Scarth

    (McMaster University, Hamilton, ON, Canada, scarth@mcmaster.ca)

Abstract

While acknowledging that the AD-AS model is sometimes applied carelessly, this note defends this analytical framework against charges that it is internally inconsistent, empirically unrealistic, and unable to clarify major controversies in macroeconomic theory and policy. JEL classification: A22, B22, E10

Suggested Citation

  • William Scarth, 2010. "Aggregate Demand-Supply Analysis and Its Critics: An Evaluation of the Controversy," Review of Radical Political Economics, Union for Radical Political Economics, vol. 42(3), pages 321-326, September.
    • Handle: RePEc:sae:reorpe:v:42:y:2010:i:3:p:321-326
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    Citations

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    Cited by:

    1. Grieve, Roy H, 2014. "'Right Back Where We Started From': From 'The Classics' To Keynes, And Back Again," SIRE Discussion Papers 2014-001, Scottish Institute for Research in Economics (SIRE).
    2. Roy H Grieve, 2014. "‘Right Back Where We Started From’: from ‘the Classics’ to Keynes, and back again," Working Papers 1401, University of Strathclyde Business School, Department of Economics.

    More about this item

    Keywords

    intermediate macroeconomics; AD-AS model;

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General

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