1. Lectures in Macroeconomics- Charles W. Upton Fitting the Facts

2. Differences D S SR S LR H* w*

3. Fitting the Facts A Temporary Demand Decrease D S SR S LR H* w*

4. Fitting the Facts A Temporary Demand Decrease D S SR S LR H* w* Decline in output followed by increase in output

5. Fitting the Facts A Temporary Demand Decrease D S SR S LR H* w* Decline in output followed by increase in output Increase in output followed by decrease in output

6. Fitting the Facts Imperfect Information D S SR S LR H* w*

7. Fitting the Facts Imperfect Information D S SR S LR H* w* Increase in output followed by decrease in output

8. Fitting the Facts Imperfect Information D S SR S LR H* w* Increase in output followed by decrease in output Decrease in output followed by increase in output

9. Fitting the Facts Technology Decline D S SR S LR H* w*

10. Fitting the Facts Technology Decline D S SR S LR H* w* No secondary effects

11. Fitting the Facts Technology Decline D S SR S LR H* w* No secondary effects A smaller than average growth or negative growth is likely to be followed by normal growth

12. Fitting the Facts Technology Shift

13. Fitting the Facts Technology Shift

14. Fitting the Facts Technology Shift

15. Fitting the Facts Imperfect Information Model

16. Fitting the Facts Temporary Demand Shift Model

17. Fitting the Facts Which Fits the Facts

18. Fitting the Facts Imperfect Information

19. Fitting the Facts Imperfect Information

20. Fitting the Facts Real Business Cycles

21. Fitting the Facts Real Business Cycles

22. Fitting the Facts Real Business Cycles

23. Fitting the Facts So what are the facts

24. Fitting the Facts So what are the facts This is a graph of the growth in GDP versus last quarter’s GDP growth.

25. Fitting the Facts So what are the facts r=0.34

26. Fitting the Facts So what are the facts r=0.34 Other estimates are that 60% of the fluctuations in GDP are due to fluctuations in A

27. Fitting the Facts So what are the facts r=0.34 r=0.19

28. Fitting the Facts So what are the facts r=0.34 r=0.19 r=-0.01

29. Fitting the Facts Three Quarter Lag

30. Fitting the Facts End ©2004 Charles W. Upton. All rights reserved