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Understanding the Phillips Curve and Economic Expectations Theory

Explore the relationship between aggregate demand changes and the Phillips Curve, analyze historical data, and compare adaptive expectations with rational expectations in macroeconomic models.

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Understanding the Phillips Curve and Economic Expectations Theory

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  1. CHAPTER The Phillips Curve and Expectations Theory 27

  2. THE THEORETICAL RELATIONSHIP BETWEEN CHANGES IN AGGREGATE DEMAND AND THE PHILLIPS CURVE EXHIBIT 1

  3. THE PHILLIPS CURVE FOR THE UNITED STATES IN THE 1960S EXHIBIT 2 Source: Economic Report of the President, 2004, http://www.gpo.access.gov/eop/index.html, Tables B-35 and B-64.

  4. INFLATION AND UNEMPLOYMENT RATES FOR THE UNITED STATES, 1970–2003 EXHIBIT 3 Source: Economic Report of the President, 2004,http://www.gpo.access.gov/eop/index.html, Tables B-35 and B-64.

  5. EXHIBIT 4 THE SHORT-RUN AND LONG-RUN PHILLIPS CURVES

  6. MONEY SUPPLY GROWTH AND PRESIDENTIAL ELECTIONS, 1960–2000 EXHIBIT 5 Source: Economic Report of the President, 2004, http://www.gpo.access.gov/eop/index.html.

  7. ADAPTIVE EXPECTATIONS VERSUS RATIONAL EXPECTATIONS EXHIBIT 6

  8. HOW DIFFERENT MACROECONOMIC MODELS CURE INFLATION EXHIBIT 7

  9. HOW DIFFERENT MACROECONOMIC MODELS CURE INFLATION (Continued) EXHIBIT 7

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