IS-LM is perhaps the prime example ofcognitive dissonance'in economics, and is
problematic to many economists. On the one hand, the IS-LM model is still taught by many …

Why has the IS-LM model persisted? In this essay I consider that question, along with the
related, and in some ways more interesting, question of how the use of the IS-LM model has …

This paper offers an explanation of the resilience of IS-LM models, which are still alive more
than sixty years after the birth of the first prototype despite growing criticism within the …

In a panel discussion at the American Economic Association convention in January 1997,
several leading macroeconomists addressed the question,“Is there a core of practical …

In The Methodology of Macroeconomic Thought, Sheila Dow attempts to bridge the gap
between methodology and macroeconomic theory through the study of four different schools …

The paper investigates how Arthur Pigou came to adopt the reasoning essentially based on
the working of the IS-LM model and to admit that money wage cuts are neutral to …

As I observed in the first lecture, I chose Pissarides's model as a paradigm of the modern
macroeconomic model for a variety of reasons: the clarity of its goals and exposition; the …

The monetarist and the new classical economics attack routed the IS–LM version of
Keynesian theory and the large scale econometric models from the centre of …

This paper critically assesses several model accounts written in the 1990s by
epistemologists and philosophers of science by relating them to a specific but crucial …

Macroeconomic discussions in the 1980s and 1990s frequently concluded that traditional IS-
LM analysis was flawed, in ways that made it irreconcilable with modern macroeconomic …