Tuesday, September 11, 2007

Intermediate Macroeconomics without the LM curve

Chad Jones is writing a new textbook;

-Long run first, then short run
-Thorough discussion of economic growth, including the Romer model
-No LM curve: central banks set interest rates
-AS/AD uses short-run output and inflation (not the price level), putting students closer to facts


About time I guess.

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