IS-LM

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

1 Scopus citations

Abstract

Since its inception, the IS-LM representation of Keynes's General Theory has been controversial, ranging from Hicks's “suggested interpretation” to Robinson's “bastard Keynesianism” to Solow's “trained intuition”. In this chapter, a number of themes and key questions are dealt with, including those involving (1) cross-fertilization and group efforts in its development; (2) equations and diagrams; and (3) language and symbols utilized in its applications. The nature of the “Keynesian revolution” and its relation to IS-LM, and the issue of whether it is a static and/or dynamic interpretation of Keynes' General Theory are also discussed.

Original languageEnglish
Title of host publicationThe Elgar Companion to John Maynard Keynes
PublisherEdward Elgar Publishing Ltd.
Pages262-267
Number of pages6
ISBN (Electronic)9781788118569
ISBN (Print)9781847200082
DOIs
StatePublished - 1 Jan 2019

Bibliographical note

Publisher Copyright:
© Robert W. Dimand and Harald Hagemann 2019.

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