Bofinger, Peter; Mayer, Eric; Wollmershäuser, Timo; … - Wirtschaftswissenschaftliche Fakultät, Bayerische … - 2003
While the IS/LM-AS/AD model is still the central tool of macroeconomic teaching it has been criticised by several … targeting, monetary policy rules, and central bank credibility. Our open-economy version is a powerful alternative to the IS/LM …