IS curve
E746876
The IS curve is a macroeconomic tool that represents combinations of interest rates and output where the goods market is in equilibrium, forming one half of the traditional IS-LM model.
All labels observed (1)
| Label | Occurrences |
|---|---|
| IS curve canonical | 2 |
How this entity was disambiguated
This entity first appeared as the object of triple T8629992 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: IS curve Context triple: [Mr. Keynes and the Classics, introducesConcept, IS curve]
-
A.
LM curve
The LM curve is a macroeconomic relationship showing combinations of interest rates and income levels at which the money market is in equilibrium.
-
B.
IS-LM model
The IS-LM model is a macroeconomic framework that depicts the interaction between the goods market and the money market to determine equilibrium output and interest rates.
-
C.
Laffer curve
The Laffer curve is an economic theory that illustrates the relationship between tax rates and government revenue, suggesting that beyond a certain point higher tax rates reduce total revenue by discouraging work and investment.
-
D.
Mundell-Fleming model
The Mundell-Fleming model is a macroeconomic framework that analyzes how monetary and fiscal policy affect output and exchange rates in an open economy with international capital flows.
-
E.
Phillips curve framework
The Phillips curve framework is a macroeconomic concept that posits an inverse relationship between inflation and unemployment, shaping policymakers’ understanding of inflation dynamics and trade-offs in the postwar era.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: IS curve Target entity description: The IS curve is a macroeconomic tool that represents combinations of interest rates and output where the goods market is in equilibrium, forming one half of the traditional IS-LM model.
-
A.
LM curve
The LM curve is a macroeconomic relationship showing combinations of interest rates and income levels at which the money market is in equilibrium.
-
B.
IS-LM model
The IS-LM model is a macroeconomic framework that depicts the interaction between the goods market and the money market to determine equilibrium output and interest rates.
-
C.
Laffer curve
The Laffer curve is an economic theory that illustrates the relationship between tax rates and government revenue, suggesting that beyond a certain point higher tax rates reduce total revenue by discouraging work and investment.
-
D.
Mundell-Fleming model
The Mundell-Fleming model is a macroeconomic framework that analyzes how monetary and fiscal policy affect output and exchange rates in an open economy with international capital flows.
-
E.
Phillips curve framework
The Phillips curve framework is a macroeconomic concept that posits an inverse relationship between inflation and unemployment, shaping policymakers’ understanding of inflation dynamics and trade-offs in the postwar era.
- F. None of above. chosen
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
economic model component
ⓘ
macroeconomic concept ⓘ |
| associatedWith |
Alvin Hansen
ⓘ
John Hicks ⓘ
linked to:
John R. Hicks
|
| assumes | sticky prices in the short run in standard usage ⓘ |
| assumesGiven | expectations in the basic static model ⓘ |
| canBeEstimatedUsing | macroeconomic time series data ⓘ |
| canBeWrittenAs | Y = α(A − βi) in simple linear form ⓘ |
| capturesRelationshipBetween | real interest rate and aggregate demand ⓘ |
| contrastedWith | LM curve representing money market equilibrium ⓘ |
| definedInTermsOf |
equality of investment and saving
ⓘ
equality of planned spending and actual output ⓘ |
| dependsOn |
autonomous spending
ⓘ
interest sensitivity of investment ⓘ marginal propensity to consume ⓘ |
| derivedFrom |
consumption function depending positively on income
ⓘ
goods market equilibrium condition Y = C + I + G + NX ⓘ investment function depending negatively on interest rate ⓘ |
| describesEquilibriumIn | goods market ⓘ |
| hasAxes |
interest rate on the vertical axis
ⓘ
real output or income on the horizontal axis ⓘ |
| hasDynamicVersion | intertemporal IS curve in modern macroeconomics ⓘ |
| hasVariant | open-economy IS curve ⓘ |
| inOpenEconomyDependsOn |
exchange rate
ⓘ
foreign income ⓘ |
| interactsWith | LM curve ⓘ |
| intersectionWith | LM curve determines joint equilibrium interest rate and output ⓘ |
| isDownwardSlopingIn | interest rate–output space ⓘ |
| isHeldConstant |
money supply in the IS relation
ⓘ
price level in the basic IS–LM model ⓘ |
| isRelatedTo | aggregate demand curve through changes in price level and LM position ⓘ |
| isTaughtIn | intermediate macroeconomics courses ⓘ |
| isUsedIn | New Keynesian models as part of aggregate demand block ⓘ |
| originatedFrom |
Keynesian cross model
ⓘ
linked to:
Keynesian economics
|
| partOf |
IS–LM model
ⓘ
linked to:
IS-LM model
|
| policyShiftExample |
contractionary fiscal policy shifts the IS curve to the left
ⓘ
expansionary fiscal policy shifts the IS curve to the right ⓘ |
| represents | combinations of interest rates and output where the goods market is in equilibrium ⓘ |
| shiftsLeftWhen |
autonomous spending decreases
ⓘ
taxes increase (other things equal) ⓘ |
| shiftsRightWhen |
autonomous consumption increases
ⓘ
autonomous investment increases ⓘ government spending increases ⓘ net exports increase ⓘ |
| slopeReason | higher interest rates reduce investment and thus equilibrium output ⓘ |
| usedFor |
analyzing fiscal policy effects on output and interest rates
ⓘ
short-run macroeconomic analysis ⓘ |
| usedIn | Keynesian macroeconomics ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: IS curve Description of subject: The IS curve is a macroeconomic tool that represents combinations of interest rates and output where the goods market is in equilibrium, forming one half of the traditional IS-LM model.
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.