A quick response to Peter Dorman to try to dispel misunderstanding.
1. Of course a curve does not "explain" anything. The issue is
whether it points you toward a mechanism that does so.
2. I don't know why a supply shock has to be defined as "a change in
one or more relative input p
A quick response to Peter Dorman to try to dispel misunderstanding.
1. Of course a curve does not "explain" anything. The issue is
whether it points you toward a mechanism that does so.
2. I don't know why a supply shock has to be defined as "a change in
one or more relative input p
Well, here we go again on AS-AD: The Theory that Would Not Die.
I won't reply to Barkley's comments on foreign substitution
except to say that I am not impressed by references to textbooks,
since I have seen them say dubious things in the past. This is
not to say I assume them to be wrong, just
Well, here we go again on AS-AD: The Theory that Would Not Die.
I won't reply to Barkley's comments on foreign substitution
except to say that I am not impressed by references to textbooks,
since I have seen them say dubious things in the past. This is
not to say I assume them to be wrong, just
