{
  "id": "ad-policy-shift",
  "name": "Fiscal or monetary policy shifting AD",
  "unit": "macro",
  "unitName": "Unit 3 · Macroeconomics",
  "topic": "Monetary & fiscal policy",
  "hl": false,
  "description": "Expansionary fiscal or monetary policy shifts AD right to close a recessionary gap; contractionary policy shifts AD left to close an inflationary gap.",
  "keywords": [
    "expansionary fiscal policy",
    "contractionary fiscal policy",
    "expansionary monetary policy",
    "contractionary monetary policy",
    "demand-side policy",
    "government spending",
    "taxation",
    "interest rates"
  ],
  "schemaUrl": "https://graphs.lectere.com/api/v1/templates/ad-policy-shift",
  "previewUrl": "https://graphs.lectere.com/thumbs/ad-policy-shift.svg",
  "editorUrl": "https://graphs.lectere.com/graph/ad-policy-shift/",
  "params": [
    {
      "key": "policy",
      "label": "Policy",
      "default": "exp-fiscal",
      "type": "enum",
      "options": [
        {
          "value": "exp-fiscal",
          "label": "Expansionary fiscal policy"
        },
        {
          "value": "exp-monetary",
          "label": "Expansionary monetary policy"
        },
        {
          "value": "con-fiscal",
          "label": "Contractionary fiscal policy"
        },
        {
          "value": "con-monetary",
          "label": "Contractionary monetary policy"
        }
      ]
    },
    {
      "key": "lras",
      "label": "Show LRAS (closing an output gap)",
      "default": true,
      "type": "boolean"
    },
    {
      "key": "note",
      "label": "Annotate the policy tool",
      "default": true,
      "type": "boolean"
    },
    {
      "key": "shift",
      "label": "Size of AD shift",
      "default": 1.8,
      "group": "Shape",
      "type": "number",
      "min": 0.8,
      "max": 3,
      "step": 0.1
    }
  ],
  "defaults": {
    "policy": "exp-fiscal",
    "lras": true,
    "note": true,
    "shift": 1.8
  },
  "panels": [
    {
      "id": "main",
      "title": null,
      "xLabel": "Real GDP",
      "yLabel": "Average price level",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        10
      ],
      "axisKeys": {
        "x": "main:x",
        "y": "main:y"
      }
    }
  ],
  "labels": [
    {
      "key": "main:y",
      "default": "Average price level",
      "hint": "Vertical axis",
      "panel": "main"
    },
    {
      "key": "main:x",
      "default": "Real GDP",
      "hint": "Horizontal axis",
      "panel": "main"
    },
    {
      "key": "main.lras",
      "default": "LRAS",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.ad1",
      "default": "AD_1",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.ad2",
      "default": "AD_2",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.sras",
      "default": "SRAS",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.note",
      "default": "↑G and/or ↓T",
      "hint": "Text",
      "panel": "main"
    },
    {
      "key": "main.e1:y",
      "default": "PL_1",
      "hint": "Vertical-axis value",
      "panel": "main"
    },
    {
      "key": "main.e1:x",
      "default": "Y_1",
      "hint": "Horizontal-axis value",
      "panel": "main"
    },
    {
      "key": "main.e2:y",
      "default": "PL_2",
      "hint": "Vertical-axis value",
      "panel": "main"
    },
    {
      "key": "main.e2:x",
      "default": "Y_p",
      "hint": "Horizontal-axis value",
      "panel": "main"
    }
  ],
  "elements": [
    {
      "key": "main.lras",
      "kind": "curve",
      "label": "LRAS"
    },
    {
      "key": "main.ad1",
      "kind": "curve",
      "label": "AD_1"
    },
    {
      "key": "main.ad2",
      "kind": "curve",
      "label": "AD_2"
    },
    {
      "key": "main.sras",
      "kind": "curve",
      "label": "SRAS"
    },
    {
      "key": "main.shift",
      "kind": "line"
    },
    {
      "key": "main.note",
      "kind": "text",
      "label": "↑G and/or ↓T"
    },
    {
      "key": "main.e1",
      "kind": "point"
    },
    {
      "key": "main.e2",
      "kind": "point"
    }
  ],
  "stats": null,
  "example": {
    "template": "ad-policy-shift",
    "params": {
      "policy": "exp-fiscal",
      "lras": true,
      "note": true,
      "shift": 1.8
    }
  }
}