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Teaching Aggregate Demand and Supply Models

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Wells, G 2007 , Teaching Aggregate Demand and Supply Models.

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Abstract

This note analyses the inflation-targeting model that underlies recent textbook expositions of the Aggregate Demand-Aggregate Supply approach used in introductory courses in macroeconomics. The paper shows how numerical simulations of a model with inflation inertia can be
used as a tool to help students understand adjustments in response to demand and supply shocks of various kinds.

Item Type: Report (Discussion Paper)
Authors/Creators:Wells, G
Keywords: REPEC, Economics, Macroeconomic Models, Inflation Targeting
Publisher: School of Economics & Finance
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