The New-Keynesian Theory of Aggregate Supply

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Presentation transcript:

The New-Keynesian Theory of Aggregate Supply Chapter 8 The New-Keynesian Theory of Aggregate Supply

The Classical and New-Keynesian Theories of Aggregate Supply Compared Figure 8.1A ©2002 South-Western College Publishing

The Classical and New-Keynesian Theories of Aggregate Supply Compared Figure 8.1B ©2002 South-Western College Publishing

How Changes in the Price Level Affect Employment Figure 8.2A ©2002 South-Western College Publishing

How Changes in the Price Level Affect Employment Figure 8.2B ©2002 South-Western College Publishing

The New-Keynesian Theory of Aggregate Supply Figure 8.3 ©2002 South-Western College Publishing

Getting from the Short Run to the Long Run Figure 8.4 ©2002 South-Western College Publishing

The Non-Neutrality of Money in the Keynesian Model Figure 8.5 ©2002 South-Western College Publishing

FOCUS ON THE FACTS Wages and Prices in the United States During the Great Depression Box 8.3A ©2002 South-Western College Publishing

FOCUS ON THE FACTS Wages and Prices in the United States During the Great Depression Box 8.3B ©2002 South-Western College Publishing

END