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Why is it important?
It considers the cases where target savers and growth maximizing firms render spending an increasing function of interest rates.
Perspectives
The condition for IS/LM stability is reversed from the standard case. In this analysis, the slope of IS must exceed the slope of LM.
Dr. Richard J. Cebula
University of Tennessee Knoxville
Read the Original
This page is a summary of: A Brief Note on Economic Policy Effectiveness, Southern Economic Journal, October 1976, JSTOR,
DOI: 10.2307/1057343.
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