In economics, the consumer surplus is the satisfaction a consumer receives when purchasing a good or service. Graphically, it is depicted as the triangle-shaped area formed by the aggregate demand ...

It has been more than 80 years since the beginning of the Keynesian revolution in economics with the publication of John Maynard Keynes’ The General Theory of Employment, Interest, and Money in 1936.

As you might expect, economists tend to talk about lots things in terms of supply and demand. Macroeconomics is no different. The basic model of recessions and booms that gets taught in undergrad ...

The standard Blanchard-Quah (BQ) decomposition forces aggregate demand and supply shocks to be orthogonal. However, this assumption is problematic for a nation with an inflation target. The very ...