1. Chapter 17 Inflation, the Phillips Curve, and Central Bank Commitment

2. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-2 Figure 17.1 The Phillips Curve

3. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-3 Figure 17.2 The Phillips Curve, 1947–1959

4. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-4 Figure 17.3 The Phillips Curve, 1960–1969

5. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-5 Figure 17.4 The Phillips Curve, 1970–1979

6. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-6 Figure 17.5 The Phillips Curve, 1980–1989

7. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-7 Figure 17.6 The Phillips Curve, 1990–2003

8. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-8 Figure 17.7 The Inflation Rate in the United States, 1947–2003

9. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-9 Figure 17.8 Deviations From Trend in Real GDP, 1947–2003

10. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-10 Figure 17.9 The Phillips curve relationship in the Friedman-Lucas money surprise model

11. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-11 Figure 17.10 The Effects of an Increase in the Expected Inflation Rate

12. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-12 Figure 17.11 The Fed's Preferences Over Inflation Rates and Output

13. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-13 Figure 17.12 The Fed Exploits the Phillips Curve

14. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-14 Figure 17.13 The Fed Attempts to Increase Y Permanently

15. Copyright © 2005 Pearson Addison-Wesley. All rights reserved. 17-15 Figure 17.14 The Commitment Problem