{"product_id":"is-lm-and-modern-macroeconomics-von-warren-young-ben-zion-zilberfarb-hrsg","title":"IS-LM and Modern Macroeconomics","description":"\n                                IS-LM is perhaps the prime example of `cognitive dissonance' in  economics, and is problematic to many economists. On the one hand, the  IS-LM model is still taught by many academic economists or they use it  to derive the AD-AS approach. On the other hand, the same economists  realize the limitations of the basic IS-LM model and would not now use  it for policy analysis, as they did in the past. The distinction  between pedagogical and analytical efficacy is made by all the authors  in this volume regarding the IS-LM model. Indeed, even those who would  reject using the model for modern policy analysis still see the basic  model as useful for teaching purposes. Moreover, in an \n                \n                \u003cem\u003eaugmented  form\u003c\/em\u003e\n                                , some of the authors in this volume would even see fit to use  IS-LM for modern policy analysis. As will be seen, therefore, the  IS-LM model is `not yet dead'. Rather, the model's `plasticity' has  enabled it to undergo a metamorphosis into \n                \n                \u003cem\u003eaugmented form\u003c\/em\u003e\n                                ,  enabling its continuing utilization in economics accordingly.\n            \n            \u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9780792379669\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9780792379669","offer_id":39415376740445,"sku":"9780792379669","price":181.89,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/d1edce80-d172-4857-b4c1-45b54e2041d3.jpg?v=1761887020","url":"https:\/\/shop.autorenwelt.de\/en\/products\/is-lm-and-modern-macroeconomics-von-warren-young-ben-zion-zilberfarb-hrsg","provider":"Autorenwelt Shop","version":"1.0","type":"link"}