32. Coddington (1976) classifies the IS-LM model as part of:

[1] Fundamentalist Keynesianism since it is a rejection of the reductionist program.

[2] Hydraulic Keynesianism since it embodies the idea that there are stable relationships

between macroeconomic flows.

[3] Reconstituted reductionism since it abandons equilibrium theorizing.

[4] Hydraulic Keynesianism since it explains inflexible wages and prices as part of

rational behaviour.

[5] Fundamentalist Keynesianism since it incorporates rational expectations.