Bordo, Michael D.; Schwartz, Anna Jacobson - 2022
This paper discusses monetarist objections to the IS-LM model. We explore the views of two principal spokesmen for … generally chose not to use the IS-LM model in rejecting Keynesian views on the demand function for money, the role of autonomous … were unconvinced. In 1970, in an effort to use his critics' common language, he set up a model with explicit terms for IS-LM …