December 04, 2003
Aggregate Supply, Aggregate Demand, and the Phillips Curve
We finished the semester with a stimulating discussion of how making prices flexible in the IS/LM model leads to an aggregate supply/aggregate demand diagram. This leads Keynesians to support the notion of a Phillips Curve. We discussed the political and economic history of the Phillips Curve using diagrams at The Econ Review.
Posted by bparke at 02:48 PM