IS-LM

Explicación resumida

Brad DeLong

Por que a Tyler Cowen no le gusta el IS-LM. Respuesta de Brad DeLong. Pregunta de Nick Rowe y respuesta de DeLong Arnold Kling. Karl Smith

Scott Sumner. Más de Tyler Cowen

Matt Rognlie pregunta por que sigue ahí la LM. Brad DeLong contesta. Y Tyler Cowen

Karl Smith

'IS-LM and all that' de Uneasy Money

Good and bad arguments against IS-LM

It's still IS-LM to me. Nick Rowe

Brad DeLong vs Scott Sumner

Paul Krugman

Greg Mankiw

The BM-LP model More on BL-MP

Resumen del debate

Más de Nick Rowe

Comentario a Brad DeLong

Brad DeLong aca y aca

Paul Krugman explica IS-LM

What’s the minimum needed to make a macroeconomic model?

Alternativas a IS-LM

Has the Keynesian IS-LM model made good predictions lately?

Daniel Kuehn sobre Scott Sumner. Kuehn menciona este post de Nick Rowe

Brad DeLong le comenta a Karl Smith

Why introductory macro should ditch the LM curve

Philip Pilkington

Fiscal policy is the best counter-stabilisation tool available to any government

Brad DeLong:

"The answer is that in expansionary fiscal policy the government prints bonds and uses them to buy stuff, and that in expansionary monetary policy the government prints money and uses it to buy bonds. If you do both together they don't cancel each other out, but rather the economy is left with (i) the government buying more stuff (and no tendency for private agents to buy less stuff out of fear of extra future taxes because there are no extra future taxes coming because there are no extra bonds left to pay off) and (ii) private agents having more money which they will tend to spend (and no tendency for spending to stay constant as people take their extra cash and hide it under the mattress because the government has already spent the money once). Expansionary fiscal policy makes it a sure thing that expansionary monetary policy is effective. Expansionary monetary policy makes it a sure thing that expansionary fiscal policy is effective by removing the channels for interest-rate and tax crowding out."

De nuevo DeLong sobre Karl Smith