Publication: Journal of Economic Education
Volume: Volume 26, No. 4
Issue: Fall 1995
Pages:
Author(s): Ben L. Kyer (Francis Marion University) and Gary A. Maggs (St. John Fisher College)
Address (Principal Author): Ben L. Kyer, Department of Economics, Francis Marion University, Box 100547, Florence, SC 29501-0547 (803) 661-1419
Internet Address (Principal Author):
Title: Monetary Policy Rules, Supply Shocks, and the Price Level Elasticity of Aggregate Demand: A Graphical Examination
Abstract: The manner in which the price level elasticity of aggregate demand affects alternative monetary policy rules designed to cope with random aggregate supply shocks is demonstrated in the two dimension price and output graphs found in macroeconomics textbooks.