A Pedagogical Chapter on the Dynamic Stability of IS-LM Model

Abstract

本文對總體IS-LM模型之動態穩定分析，提供一個啟發性動態調整分析，並澄清一些總體經濟學對IS-LM動態穩定分析之誤解。尤其是當IS斜率為正，且較LM平坦時，大部份的總體經濟學著作皆犯有錯誤。因此，本文應有其學術價值與可參考之處。This paper intends to render a heuristic supplement to the dynamic stability analysis of IS-LM model. We clarify and enter every possible dynamic adjustment path into details which was not examined in the literature before. It is usually wrong and misleading for some popular modern macroe-conomics to regard the conventional IS-LM model as dynamically stable in case that IS is positively sloped and when it is flatter than LM. Our paper renders a worthwhile clarification of this long-existing misunderstanding of the IS-LM dynamic stability analysis.