This Discussion Paper is issued within the framework of IZA's research areas 0RELOLW\\DQGG)OH[LELOLW\\ RII /DERUU 0DUNHWV 7KHH :HOIDUHH 6WDWHH DQGG /DERUU 0DUNHWV DQGG *HQHUDOO /DERUU (FRQRPLFV Any opinions expressed here are those of the author(s) and not those of the institute. Research disseminated by IZA may include views on policy, but the institute itself takes no institutional policy pos...

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Aggregate supply is an old idea. Although discussed by Keynes and the early Keynsians, most recent econometric models can justly be criticized for not adequately developing the supply side. It is therefore exciting to review a supply-side model created by one of the most prominent model-builders. The Evans model was commissioned by the Senate Finance Committee as an attempt to incorporate suppl...