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11:15
YouTube
Klaus Prettner
AS-AD Model Part 1: Aggregate Supply and Aggregate Demand Curves
The AS-AD (aggregate supply and aggregate demand) model has long been one of the workhorse models in undergraduate macroeconomics. In this video, I show how it can be motivated by i) aggregating over individual markets and ii) via the IS-LM model and the Phillips curve. For adjustments dynamics from the short-run equilibrium to the medium-run ...
10.7K views
Oct 17, 2023
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