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Line 24: This model is further advanced in higher levels of undergraduate studies. Economist [[David Romer]] proposed in the ''[[Journal of Economic Perspectives]]'' in 2000 that the LM curve be replaced in the [[IS–LM]] model.<ref>http://elsa.berkeley.edu/~dromer/papers/JEP_Spring00.pdf</ref> Romer suggested that although the Federal Reserve uses [[open market ~~operations~~operation]]s to impact the federal funds rate, they are not targeting money supply, but rather the interest rate. Therefore, he suggests removing the LM curve and replacing it with the MP curve. ==See also==

AD–IA model: Difference between revisions