an <[EMAIL PROTECTED]>
To: [EMAIL PROTECTED] <[EMAIL PROTECTED]>
Date: Wednesday, August 30, 2000 10:33 AM
Subject: [PEN-L:967] Tom Palley on AS/AD
>Dear Jim,
>
>Thank-you for your kind words about my book on PK Economics. Some
>observations:
>
>(1) Romer's AD sch
Michael Perelman forwarded a letter from Tom Palley to me concerning AS/AD,
IS/LM, etc.
>Thank-you for your kind words about my book on PK Economics. Some
>observations:
>
>(1) Romer's AD schedule is in fact the IS schedule. His model is IS-LM
>with a horizontal LM. The monetary authority is ju
Dear Jim,
Thank-you for your kind words about my book on PK Economics. Some
observations:
(1) Romer's AD schedule is in fact the IS schedule. His model is IS-LM
with a horizontal LM. The monetary authority is just setting the
interest rate - something lots of PKs have maintained for a very long
