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

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Presentation transcript:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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