IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-26293-9_6.html
   My bibliography  Save this book chapter

The ADAS Model: Two into One Won’t Go

In: Aggregate Demand and Supply

Author

Listed:
  • Roy H. Grieve

    (University of Strathclyde)

Abstract

It has for some time been the almost universal fashion, amongst authors of intermediate macroeconomics textbooks, to employ the aggregate demand and aggregate supply (ADAS) model to explain the determination of aggregate output and the price level. Perusal of a representative selection of such texts reveals that most — all but three out of fifteen surveyed — make use of a version, or versions, of ADAS.1 Recently however dissident voices have been raised in criticism of the propriety of relying on the ADAS construction. Among those who have drawn attention to the inherent inconsistency of the standard model are Rao (1991), Barro and Grilli (1994), Colander (1995, 1996), Nevile and Rao (1996) and Grieve (1996). Colander, for one, does not mince words (1995, p.170): “ADAS does not fulfil the minimum requirement of a model: logical consistency. Its component parts are derived from models that reflect different, and inconsistent models of the economy.” This chapter seeks to set the problem of the ADAS model in the context of the development of macro theory.

Suggested Citation

  • Roy H. Grieve, 1998. "The ADAS Model: Two into One Won’t Go," Palgrave Macmillan Books, in: B. Bhaskara Rao (ed.), Aggregate Demand and Supply, chapter 6, pages 83-94, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26293-9_6
    DOI: 10.1007/978-1-349-26293-9_6
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. B Bhaskara Rao, 2007. "The nature of the ADAS model based on the ISLM model," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(3), pages 413-422, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-26293-9_6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.