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The Phillips Curve and Expectations Theory

C HAPTER. The Phillips Curve and Expectations Theory. 27. T HE T HEORETICAL R ELATIONSHIP BETWEEN C HANGES IN A GGREGATE D EMAND AND THE P HILLIPS C URVE. EXHIBIT 1. T HE P HILLIPS C URVE FOR THE U NITED S TATES IN THE 1960 S. EXHIBIT 2.

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The Phillips Curve and 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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