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Coddiington (1976) classifies the IS-LM model as part of :1. Hydraulic keynesianism since it embodies the idea that there are stable relationships between macroeconomics flow

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June 7th, 2024

Coddiington (1976) classifies the IS-LM model as part of :1. Hydraulic keynesianism since it embodies the idea that there are stable relationships between macroeconomics flows .2. fundamentalist keynesianism since it incorporates adaptive expectations3. reconstituted reductionism since it embraces equilibrium theorizing4. new keynesian economics since it explains inflexible wages and prices as part of rational behaviour5. none of the above

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