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International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 1 Figure 27.1 Overview of the economic policy framework.

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Presentation on theme: "International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 1 Figure 27.1 Overview of the economic policy framework."— Presentation transcript:

1 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 1 Figure 27.1 Overview of the economic policy framework

2 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 2 Figure 27.2 Robert Barro, 1944 -

3 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 3 Figure 27.3 Different policy preferences; U* = 3,  * = 0

4 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 4 Figure 27.4 Monetary base and interest rate targeting

5 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 5 Figure 27.5 Short-run stability of the Phillips curve, USA 1960s

6 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 6 Figure 27.6 Long-run instability of the Phillips curve, USA

7 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 7 Figure 27.7 The expectations-augmented Phillips curve

8 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 8 Figure 27.8 The Phillips curve; USA, UK, Italy, and Japan

9 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 9 Figure 27.9 Optimal surprise inflation policy

10 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 10 Figure 27.10 Rational expectations inflation

11 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 11 Figure 27.11 Rules versus rational expectations

12 International Economics: Theory, Application, and Policy, Ch. 27;  Charles van Marrewijk, 2006 12 Figure 27.12 Differences in estimated output gaps; USA and Germany


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