Universitario

Pág.403

Real Interest rate,r
Real Interest rate,r




r1 MP1

IS
Y1>0 Output gap, Y
(percent deviationtrom potential GDP)

Pág.404

Inflation rate,π
Inflation rate,π

PC2

PC1


A
π1= π2


Y1 Outputgap, Y
(percent deviation
from potential GDP)

Pág. 441

Unemployment rate,r
Unemployment rate,r


10%

9

8Actual unemployment rate
Without recovery plan
7

6

5
With recovery plan
4

3

0
Q1 Q3 Q1 Q3 Q1Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1

2007 2008 2009 2010 2011 2012 2013 2014
Pág.445

Real Interest rate,r
Real Interestrate,r




r MP

IS
Y1>0 Output gap, Y
(percent deviation
trom potential GDP)

Pág.445Real Interest rate,r
Real Interest rate,r




r MP

IS
Y1=0 Output gap, Y
(percent deviation
trompotential GDP)

Pág.450

Real Interest rate,π
Real Interest rate,π

Monetary policy rule



r1




πTargetInflation rate, π



Real Interest rate,r
Real Interest rate,r
Pág.452



B
2…the Fed
Increases the real
Interest rate from
r1 to r2, and…
2…the FedIncreases the real
Interest rate from
r1 to r2, and…
r2 MP2


A
r1 MP1

IS
Y2 Y1=0 Output gap, Y...