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Chapter 11 Market-Clearing Models of the Business Cycle.

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Presentation on theme: "Chapter 11 Market-Clearing Models of the Business Cycle."— Presentation transcript:

1 Chapter 11 Market-Clearing Models of the Business Cycle

2 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure 11.1 The Effects of an Unanticipated Increase in the Money Supply in the Money Surprise Model

3 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Table 11.1 Data Versus Predictions of the Money Surprise Model with Monetary Shocks

4 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure 11.2 Solow Residuals and GDP

5 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure 11.3 Effects of a Persistent Increase in Total Factor Productivity in the Real Business Cycle Model

6 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure 11.4 Average Labor Productivity with Total Factor Productivity Shocks

7 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Table 11.2 Data Versus Predictions of the Real Business Cycle Model with Productivity Shocks

8 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure 11.5 Procyclical Money Supply in the Real Business Cycle Model with Endogenous Money

9 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure 11.6 Percentage Deviations From Trend in Money Supply and GDP

10 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure 11.7 Real and Nominal Interest Rates

11 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure 11.8 Relative Price of Energy

12 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure 11.9 A Production Function with Increasing Returns to Scale

13 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure Aggregate Labor Demand with Sufficient Increasing Returns to Scale

14 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure The Labor Market in the Coordination Failure Model

15 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure The Output Supply Curve in the Coordination Failure Model

16 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure Multiple Equilibria in the Coordination Failure Model

17 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Table 11.3 Data Versus Predictions of the Coordination Failure Model

18 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure Average Labor Productivity in the Keynesian Coordination Failure Model

19 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure Procyclical Money Supply in the Coordination Failure Model

20 Copyright © 2005 Pearson Addison-Wesley. All rights reserved Figure Stabilizing Fiscal Policy in the Coordination Failure Model


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