Comparing Keynes's Mathematical IS-LP(LM) Model from His Student Lectures in 1933 -1935 with the Mathematical IS-LP(LM) Model in the General Theory in Chapters 15 and 21: The Model is All There in the General Theory in Chapter 21

21 Pages Posted: 17 Aug 2017

See all articles by Michael Emmett Brady

Michael Emmett Brady

California State University, Dominguez Hills

Date Written: August 15, 2017

Abstract

J M Keynes’s IS-LP(LM) model was first introduced in his December,1933 -1935 student lectures. Keynes’s IS-LP(LM) model in the General Theory is contained in chapter 15 on pp.199-203, 208-09 where it is summarized and briefly analyzed. It is more comprehensively analyzed in chapter 21 on pp.298-303. The General Theory versions in chapters 15 and 21 are much more mathematically detailed and explicit than the version in his 1933-35 student notes.

The work of Dimand and Rubin, while superior to the rest of the literature on IS-LM over the last 80 years, suffers from severe omissions due to their overlooking the work contained in chapters 15 and 21 of the General Theory.

Keywords: Harrod, Hicks, IS-LM, Liquidity preference, Patinkin, chapter 15, pp.180-182 of GT, chapter 21, simultaneous equations

JEL Classification: B10, B12, B14, B16, B20, B22

Suggested Citation

Brady, Michael Emmett, Comparing Keynes's Mathematical IS-LP(LM) Model from His Student Lectures in 1933 -1935 with the Mathematical IS-LP(LM) Model in the General Theory in Chapters 15 and 21: The Model is All There in the General Theory in Chapter 21 (August 15, 2017). Available at SSRN: https://ssrn.com/abstract=3018953 or http://dx.doi.org/10.2139/ssrn.3018953

Michael Emmett Brady (Contact Author)

California State University, Dominguez Hills ( email )

1000 E. Victoria Street, Carson, CA
Carson, CA 90747
United States

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
11
Abstract Views
301
PlumX Metrics