Fontana, Giuseppe; Setterfield, Mark - In: International Journal of Pluralism and Economics Education 1 (2009) 1/2, pp. 130-147
This paper develops an undergraduate macroeconomics teaching model that features endogenous money and an explicit account of commercial bank behaviour. It therefore transcends common shortcomings of existing teaching models based on either IS-LM or its successor, the New Consensus. The model is...