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What is IS-LM Model: Dynamics of Interest and Output about?

The IS-LM model explains how interest rates and aggregate output are determined. The IS curve shows the relationship between interest rates and output in goods market equilibrium. The LM curve shows the relationship between interest rates and output in money market equilibrium. Where the IS and LM curves intersect is the general equilibrium of interest rates and output in both markets. Shifts in money supply or demand curves cause the LM curve to shift, changing equilibrium interest rates and output.

Author

tuna

Language

EN