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Copyright © 2002 Pearson Education, Inc. Slide 1.

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Presentation on theme: "Copyright © 2002 Pearson Education, Inc. Slide 1."— Presentation transcript:

1 Copyright © 2002 Pearson Education, Inc. Slide 1

2 Copyright © 2002 Pearson Education, Inc. Slide 2 Inflation, the Phillips Curve, and Central Bank Commitment Chapter 16

3 Copyright © 2002 Pearson Education, Inc. Slide 3 Figure 16-1 The Phillips Curve

4 Copyright © 2002 Pearson Education, Inc. Slide 4 Figure 16-2 The Phillips Curve in the 1950s

5 Copyright © 2002 Pearson Education, Inc. Slide 5 Figure 16-3 The Phillips Curve in the 1960s

6 Copyright © 2002 Pearson Education, Inc. Slide 6 Figure 16-4 The Phillips Curve in the 1970s

7 Copyright © 2002 Pearson Education, Inc. Slide 7 Figure 16-5 The Phillips Curve in the 1980s

8 Copyright © 2002 Pearson Education, Inc. Slide 8 Figure 16-6 The Phillips Curve in the 1990s

9 Copyright © 2002 Pearson Education, Inc. Slide 9 Figure 16-7 The Inflation Rate in the United States,

10 Copyright © 2002 Pearson Education, Inc. Slide 10 Figure 16-8 Deviations from Trend in Real GDP,

11 Copyright © 2002 Pearson Education, Inc. Slide 11 Figure 16-9 Model Phillips Curve Relationship

12 Copyright © 2002 Pearson Education, Inc. Slide 12 Figure The Effects of an Increase in the Expected Inflation Rate

13 Copyright © 2002 Pearson Education, Inc. Slide 13 Figure The Feds Preferences Over Inflation Rates and Output

14 Copyright © 2002 Pearson Education, Inc. Slide 14 Figure The Fed Exploits the Phillips Curve

15 Copyright © 2002 Pearson Education, Inc. Slide 15 Figure The Fed Attempts to Increase Y Permanently

16 Copyright © 2002 Pearson Education, Inc. Slide 16 Figure The Commitment Problem

17 Copyright © 2002 Pearson Education, Inc. Slide 17 Table 16-1


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