Munich Personal RePEc Archive

A Tautologies-Founded IS-LM Model

Hiermeyer, Martin (2018): A Tautologies-Founded IS-LM Model.


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The paper combines five tautologies to come up with a model that is structurally similar to the IS-LM model but has five advantages vis-à-vis the IS-LM model. The model also has seven advantages vis-à-vis simple New Keynesian models such as Romer's IS-MP model or Carlin's and Soskice's IS-MR model.

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