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ECON 2410 (18)
Chapter 5

Chapter 5- Goods and Financial Markets The IS-LM Model.pdf

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Department
Economics
Course
ECON 2410
Professor
Laurent Cellarier
Semester
Winter

Description
Chapter 5- Goods and Financial Markets: The IS-LM Model January 29, 2014 2:52 PM Definitions/Equations IS Relation- an equilibrium condition stating that demand for goods must be equal to the supply of goods, or equivalently that investment must be equal to saving IS Curve- a downward sloping curve relating output to the interest rate. The curve corresponding to the IS relation, the equilibrium condition for the goods market LM Relation- an equilibrium condition stating that the demand for money must be equal to the supply for money; the equilibrium condition for the financial market LM Curve- an upward sloping curve relating the interest rate to output. The curve corresponding to the LM Relation, the equilibrium condition
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