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LIMITATIONS AND OPPORTUNITIES OF THE IS-LM MODEL ADAPTATION

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DOI:

https://doi.org/10.52195/pm.v19i2.745

Abstract

The Austrian School’s resistance to mathematical models and graphic representations has been a handicap in spreading its thinking. The use of the IS-LM and AS/DA models has been extended in universities and business schools, while Austrian thinking needs a separate and specific and sometimes over-intensive analysis in time as it lacks a simplified model. IS-LM model and an Austrian adapted model provide a range of opportunities to explain the Austrian cycle theory and analyze the differences of Austrians with other schools of thought. Keywords: General Aggregative Models; Austrian; Cycles; Monetary Policy.

References

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Published

2022-03-09 — Updated on 2022-06-08

Versions

Issue

Vol. XVIII nº2 2021

Section

Articles

How to Cite

LIMITATIONS AND OPPORTUNITIES OF THE IS-LM MODEL ADAPTATION. (2022). REVISTA PROCESOS DE MERCADO, 18(2), 107-148. https://doi.org/10.52195/pm.v19i2.745 (Original work published 2022)